Canopy Growth Adds Martha Stewart as Advisor, Will Assist on New Hemp CBD Products: Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) and Sequential Brands Group, Inc. (NASDAQ: SQBG) announced today that Martha Stewart has joined the Company in an advisory role to assist with developing and positioning a broad new line of product offerings across multiple categories.
“I am delighted to establish this partnership with Canopy Growth and share with them the knowledge I have gained after years of experience in the subject of living,” said Martha Stewart. “I’m especially looking forward to our first collaboration together, which will offer sensible products for people’s beloved pets.”
“As soon as you hear the name Martha, you know exactly who we’re talking about,” shared Canopy Growth Chairman and co-CEO, Bruce Linton. “Martha is one of a kind and I am so excited to be able to work alongside this icon to sharpen our CBD product offerings across categories from human to animal.”
Aurora Cannabis Enters Portugal by Acquiring 51% of Gaia Pharm: Aurora Cannabis Inc. (TSX: ACB) (NYSE: ACB) (Frankfurt: 21P; WKN: A1C4WM) today announced that it has agreed to terms to acquire a 51% ownership interest in Gaia Pharm Lda., a license applicant in Portugal, to establish a local facility to produce medical cannabis and derivative products. The company will be renamed “Aurora Portugal Lda”. On February 21, 2019, Gaia Pharm Lda. received approval of its application to construct an EU GMP compliant cannabis cultivation facility from INFARMED, a division of the Portuguese Health Ministry, which is responsible for the evaluation, authorization, regulation and control of human medicines as well as health products for the protection of public health.
“We are very pleased to be entering yet another European market and look forward to collaborating with our joint venture partners, the government of Portugal and the Portuguese medical community, to encourage the development of a rigorously regulated and safe medical cannabis system that is well supplied and accessible to patients,” said Terry Booth, CEO of Aurora. “With the addition of this new project, we are now active in 24 countries, which we believe represents the largest global footprint of any cannabis company. Aurora’s reputation in the medical cannabis sector, bolstered by the high quality of our products and our commitment to medical and plant research, provides distinct advantages in establishing significant market share in the rapidly growing European market.”
Liberty Health to Open 11th Dispensary in Florida, Phase 1 at Liberty 360 Complete, Board Members to Step Down: Liberty Health Sciences Inc. (CSE: LHS) (OTCQX: LHSIF), a provider of high quality cannabis, announced today that it will be opening its latest dispensary in Orange Park, Florida, on March 1, 2019, pending Florida Department of Health approvals. In supporting the growth of its dispensary openings, the Company also announced that the first phase of its construction at its Liberty 360 Innovation Campus in Gainesville, Florida has been completed, including required inspections by the DOH, which provides the Company with an additional 80,000 square feet of cultivation space.
The Company also announces that it continues to work towards increasing its directors and senior executives based in the United States, to more closely align with the US geographical focus of its business, as previously announced in its press releases of February 12 and 22, 2019.
TSX Venture 50 Names Aleafia Health Top Performing Company of the Year: Aleafia Health Inc. (TSXV: ALEF) (OTCQX: ALEAF) (FRA: ARAH), has been named the TMX Group’s 2019 TSX Venture 50 top performing company of the year amongst all 2,000 TSX Venture Exchange listed companies. The award was based on three equally weighted criteria, market capitalization growth, share price appreciation, and trading volume.
- Aleafia Health Ranks First Based on Key Market Performance Measures Among all TSXV Listed Companies.
- First Time a Cannabis Company has Achieved Top Performing Company Honours.
“Building on a strong foundation, Aleafia Health has had a landmark year,” said Aleafia Health CEO Geoff Benic. “In that time, we have purchased and brought our modern, automated greenhouse to a grow-ready state, launched our recreational retail and brands divisions with the Serruya Family and built a base of over 50,000 medical patients.”
Tidal Royalty Completes $15M Advance to MichiCann Medical: Tidal Royalty Corp. (CSE: RLTY.U) is pleased to announce that, further to its press release of February 14, 2019, the Company has completed an advance of C$15,000,000 to MichiCann Medical Inc. (operating as Red White & Bloom) pursuant to a senior secured convertible debenture. The MichiCann Debenture is non-interest bearing, other than in the event of a default by MichiCann thereunder, and will mature August 25, 2019, with the Maturity Date being extendable in certain circumstances.
It is anticipated that MichiCann will use the funds advanced by the Company, solely to fund the acquisition of additional cannabis Provisioning Centers (dispensaries) in Michigan by its Michigan based investee (“Opco“), and for general working capital purposes.
TransCanna to Present in Vancouver at Gravitas Growth Conference: TransCanna Holdings Inc. (CSE: TCAN) (XETR: TH8), is a Canadian based company providing branding, transportation, and distribution services, through its wholly-owned California subsidiaries, to a range of industries including the cannabis marketplace, announced today that James Pakulis, President and Chief Executive Officer, will present at the upcoming Gravitas Growth Conference, which is being held on February 28th, 2019 at the Fairmont Pacific Rim Hotel in Vancouver.
“This represents a great opportunity to present our vision and opportunity to investors as we have recently announced our first financing since coming to trade in January 2019. The TransCanna story is merely beginning to unfold and the management team is eager to go to work and execute on a very specific and targeted business plan,” stated Jim Pakulis Company CEO.
Ignite International Brands Signs LOI with European Manufacturer to Bring Ignite Branded Cannabis Products to Europe: Ignite International Brands, Ltd. (CSE: BILZ) is pleased to announce that it has entered into a binding letter agreement with an established, vertically-integrated European white label manufacturer.
It is proposed that the European manufacturer will, under non-exclusive license to be granted by the Company, manufacture, package and distribute Ignite branded products to select wholesale and retail channels in strategic European territories subject to and in accordance with applicable jurisdictions laws and regulations. The Company and the manufacturer plan to jointly develop a marketing program that will support the launch of Ignite branded products in select European markets.
Organigram to Supply Quebec; Now Established in All 10 Canadian Provinces: Organigram Holdings Inc. (TSXV: OGI) (OTCQX: OGRMF), the parent company of Organigram Inc., a leading licensed producer of cannabis is pleased to announce it has signed a letter of intent with the Société québécoise du cannabis (SQDC). This agreement solidifies the Company’s position as a true national player in Canada’s legal adult use recreational cannabis marketplace. Organigram now has distribution in place for all ten Canadian provinces.
Based on currently available public information, this agreement makes Organigram one of only three licensed producers (“LPs”) in Canada along with Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) and Aphria (TSX: APHA) (NYSE: APHA) to have secured distribution agreements with every province.
GW Pharma’s Quarterly Revenue Jumps 67% to $6.7 Million Boosted by Start of Epidiolex Sales: GW Pharmaceuticals plc (NASDAQ: GWPH), the world leader in the development and commercialization of cannabinoid prescription medicines, announces financial results for the quarter ended December 31, 2018.
- Epidiolex® (cannabidiol) oral solution (CV), first FDA-approved plant-derived cannabinoid medicine, launched in the U.S. in November to high awareness and demand.
- GW moves to a new fiscal year-end beginning January 1, 2019.
- Conference call yesterday at 4:30 p.m. EST.
“We are pleased by the high level of physician and patient demand for Epidiolex, and by the number of payors that have already made favorable coverage determinations for the product. With US launch taking place part way through the quarter, the two month selling period at the end of 2018 was primarily aimed at setting the commercial wheels in motion for the 2019 launch year. As we move into the New Year, prescription growth trajectory has been highly encouraging and we believe that we are on track to deliver a successful market introduction of this important new treatment,” stated Justin Gover, GW’s Chief Executive Officer. “In addition to the US launch, we look forward to a positive regulatory decision in Europe in the next few months, results of a Phase 3 trial in Tuberous Sclerosis Complex, and a number of advances in the pipeline.”
CannTrust Begins Trading on the New York Stock Exchange: CannTrust Holdings Inc. (TSX: TRST) (NYSE: CTST) is pleased to announce that its common shares will begin trading on the New York Stock Exchange (“NYSE”) today. CannTrust’s shares will trade on the NYSE under the ticker symbol “CTST”. The Company’s common shares will continue to be listed on the Toronto Stock Exchange under the ticker symbol “TRST”.
“We are a fast-growing company that is continuously looking to increase our international presence,” said Peter Aceto, Chief Executive Officer. “The NYSE listing is another significant milestone in the evolution of CannTrust and we are excited to share more about our planned growth initiatives in the near future.”
TransCanna to Lease Manufacturing and Logistics Facility in Southern California: TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) is pleased to announce the execution of an LOI to lease a new 15,000 square foot facility currently under construction with a completion date of April 30th in Adelanto, CA. This multi-faceted facility is intended to be one of four strategically located satellite facilities located throughout California. The Adelanto facility will serve the densely populated southern California marketplace with industrial-scale production, distribution, and transportation capabilities. Pursuant to the non-binding LOI, the lease will have a five-year term at a monthly leasing rate of $225.00 sq ft commencing in May 2019.
“Our mandate is to build and operate a high margin enterprise by owning our own branded products and control all aspects in the ecosystem. Being in escrow for one of the largest vertically integrated, cannabis-focused facilities in the US, which will serve as our hub, and now with an LOI on a satellite facility puts us squarely in the center to deliver on our mandate,” states Jim Pakulis, CEO of TransCanna.
MedMen Q2 Sales Increase 39% to $29.9 Million, Reports Loss of $61.8 Million: MedMen Enterprises Inc. (CSE: MMEN) (OTCQX: MMNFF) (FSE: A2JM6N) today released its consolidated financial results for the second quarter of fiscal 2019. All financial information for the 13-week period ended December 29, 2018, is reported in U.S. dollars unless otherwise indicated.
- Increased revenue sequentially by 39% to $29.9 million.
- Continued to perform favorably in California with eight retail locations reporting a combined $23.7 million in revenue, representing a 28% quarter-over-quarter increase.
- Increased overall gross profit margin to 53%, compared to 45% in the previous quarter.
- Appointed key personnel to the management team, including Michael Kramer as CFO.
- During the quarter, closed on acquisition of vertically-integrated license in Scottsdale, Arizona and dispensary license in Emeryville, California.
“Our strong second quarter results support MedMen’s commitment to drive strong retail and sales performance, while efficiently scaling the Company and executing on our growth strategy,” said Adam Bierman, MedMen chief executive officer, and co-founder. “As we emphasized last quarter, we are in a new phase of growth, one focused on continuing to operationalize our industry-leading retail footprint and increasing our profitability. We are confident in the team we’ve built to drive our success.”
Aurora Cannabis Receives Green Light From Health Canada for Aurora Sky and MedReleaf Bradford: Aurora Cannabis Inc. (TSX: ACB) (NYSE: ACB) (Frankfurt: 21P; WKN: A1C4WM) today announced that both its Aurora Sky and MedReleaf Bradford facilities are now fully licensed by Health Canada for the production and sale of cannabis and cannabis derivative products.
“The rapid scale-up of our production capacity – with our Sky and Bradford facilities specifically adding over 128,000 kg per year in capacity – is resulting in significant increases in product availability across our domestic medical and consumer, as well as our international market segments, over the coming months,” said Terry Booth, CEO of Aurora. “Current production at Aurora Sky, with recent harvests exceeding target yields, validates our production philosophy and our investment in high-tech, highly automated facilities. MedReleaf Bradford employs best practices identified during the integration of the Aurora and MedReleaf organizations, and is consistently delivering exceptional yields and high-quality product that has resonated well in both the medical and consumer markets.”
TSX Venture Announces the 2019 TSX Venture 50 Winners: TSX Venture Exchange (TSXV) is pleased to announce the 2019 TSX Venture 50 – an annual showcase of top performing companies from five industry sectors: Clean Technology and Life Sciences, Diversified Industries, Energy, Mining, and Technology. Representatives of the TSX Venture 50 companies will join TMX Group executives at a market open ceremony on Friday, February 22, at 9:30 a.m. EST to celebrate their achievement.
The TSX 2019 Venture 50 winners were selected based on three equally weighted market performance criteria: market capitalization growth, share price appreciation and trading volume for the year ended December 31, 2018.
The top-ranked company across all sectors is Aleafia Health Inc. (TSXV: ALEF), a Canadian medical cannabis company.
Cronos Group Shareholders Approve $2.4 Billion Altria Investment: Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) announced that at a Special Meeting held today, the Company’s shareholders overwhelmingly approved the previously announced strategic investment agreement with Altria Group, Inc. (NYSE: MO). Pursuant to the agreement, at closing, Altria will make an approximately C$2.4 billion equity investment in Cronos Group on a private placement basis in exchange for common shares in the capital of the Company.
Altria will also receive Warrants of Cronos Group, that if fully exercised, would provide the Company with an additional approximately C$1.4 billion of proceeds. The Shares issuable to Altria will result in Altria holding an approximately 45% ownership interest in Cronos Group (calculated on a non-diluted basis) and exercise of the Warrants would result in incremental ownership of 10% for a total potential ownership position of 55%.
TransCanna Arranges $10 Million Private Placement: TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) is pleased to announce that it has appointed Haywood Securities Inc. to act as lead agent on behalf of a syndicate of agents to be formed, including Gravitas Securities Inc. (collectively, the “Agents”) to sell, by way of a private placement on a best efforts basis, up to 5,000,000 units of the Company at a price of $2.00 per Unit for gross proceeds of up to $10,000,000, subject to receipt of all applicable regulatory approvals.
The Company intends to use the net proceeds of the Offering to partially fund the acquisition of the 196,000 sq ft cannabis facility as announced on February 4, 2019, and for working capital and general corporate purposes. The Company still anticipates it will seek a commercial lending facility to secure the full purchase price for the facility and once it has executed definitive documentation for such a facility, it will provide a further update on the progress of the acquisition. The completion of the Offering will be conditional upon the Company being in a position to complete the facility acquisition.
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