Cronos Group Closes $2.4 Billion Altria Investment, Altria Now Largest Shareholder in Cronos: Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) today announced that the C$2.4 billion equity investment in the Company by Altria Group, Inc. (NYSE: MO) has closed. As previously announced, Altria’s investment represents an approximate 45% ownership interest in Cronos Group. Altria also has a warrant to acquire additional ownership in Cronos Group, which is exercisable over the next four years. If exercised in full today, the warrant would increase Altria’s ownership in Cronos Group to approximately 55% and provide Cronos Group with additional proceeds of approximately C$1.4 billion.
- Four New Directors Join Cronos Group Board
- Jerry Barbato Appointed Chief Financial Officer of Cronos Group; William Hilson Appointed Chief Commercial Officer
“We are delighted to close this transaction and kick-off a relationship that we expect to lead to significant growth and value creation,” said Mike Gorenstein, Cronos Group’s Chairman, President and Chief Executive Officer. “Altria’s investment and the services they will provide to Cronos Group will enhance our financial resources, and allow us to expand our product development and commercialization capabilities, and regulatory expertise to better position Cronos Group to compete, scale and lead the rapidly growing global cannabis industry. We look forward to the many opportunities we expect this relationship to create.”
Aleafia Health Set to Uplist to the TSX Big Board Exchange: Aleafia Health Inc. (TSXV: ALEF) (OTCQX: ALEAF) (FRA: ARAH) announced today that the Company has received conditional approval from the Toronto Stock Exchange (“TSX”) to graduate from the Toronto Venture Exchange (“TSXV”) and list its common shares on the TSX under the symbol “ALEF”. Listing on the TSX is subject to TSX final approval which is conditional upon the completion of the Company’s previously announced acquisition of Emblem Corp. (TSXV: EMC, OTCQX: EMMBF). In conjunction with listing on the TSX, the common shares will be voluntarily delisted from the TSXV prior to the commencement of trading on the TSX.
“Graduating to the TSX, one of the world’s largest stock exchanges is a major milestone for Aleafia Health. Coming off the heels of our recent recognition as the top performing company of the year on the entire TSXV, this achievement further demonstrates our executional capabilities and will enable us to address an even wider investor audience, both domestically and internationally,” said Aleafia Health CEO Geoffrey Benic.
Emblem Shareholders Approve Aleafia Health Merger, 93% Voted in Favour of the Deal: Emblem Corp. (TSXV: EMC, OTCQX: EMMBF) is pleased to announce that, at the special meeting of shareholders of Emblem held today, the shareholders of Emblem voted in favour of a special resolution to approve the proposed arrangement involving Emblem and Aleafia Health described in the joint press release issued by Emblem and Aleafia on December 19, 2018, as well as certain other Meeting matters.
The Arrangement creates:
- The leading Canadian medical cannabis clinic and education centre network with 60,000 patients seen to date
- A high-value, highly differentiated medical product portfolio of oils, capsules and sprays
- Scaled production capacity and leading supply with three dedicated cultivation and product innovation facilities and industry’s largest LP to LP cannabis supply agreement
- A national and global distribution platform with provincial supply agreements, retail partnerships and global partnerships operating in the European Union and Australia
- Improved capital markets profile, with broader shareholder base and improved liquidity
- A robust cash position
Of the votes cast with respect to the Arrangement, an aggregate of 52,489,816 Emblem common shares were voted in favour of the Arrangement, representing approximately 93.46% of the votes cast on the resolution.
TransCanna Bolsters Senior Management, Appoints Arni Johannson as President: TransCanna Holdings Inc. (CSE: TCAN) (XETR: TH8) (FSE: TH8) is pleased to announce that it has appointed Arni Johannson as President. Mr. Johannson has over thirty years operating and investing in both private & publicly traded companies throughout Canada and the USA. Mr. Johannson’s has had numerous successful exits across a number of different sectors and has served on more than 20 corporate board of directors during this time.
“Once we presented TransCanna’s vision to Arni he immediately understood the potential and agreed to not only be a director but also President of the company. I firmly believe his operating knowledge and vast network and experience will assist in expediting our growth as being arguably the largest self-contained, vertically integrated company owning up to fifteen premium brands in California,” states Jim Pakulis, CEO of TransCannna.
4 Marijuana Stocks That Made New All-Time Highs in 2019: After a brutal finish to 2018, Marijuana stocks started off 2019 absolutely on fire. The majority of Cannabis stocks have completely smoked the market and left investors sitting with substantial gains. Most of you probably believe the stocks on this list would include Canopy Growth (TSX: WEED) (NYSE: CGC), Aurora Cannabis (TSX: ACB) (NYSE: ACB) and The Supreme Cannabis Company (TSX: FIRE) (OTCQX: SPRWF), to name a few. But you would be wrong. Even though the aforementioned stocks have been red hot to start the year, their share prices have not been able to reach new all-time highs.
Without further ado let’s jump into our list of Marijuana stocks whose share price reached and closed at an all-time high in 2019.
NHLAA and Canopy Growth Join Forces to Research Cannabinoids as Treatment for Concussions: NHL Alumni Association (NHLAA), NEEKA Health Canada and Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) are pleased to announce a transformative clinical research partnership that will investigate the efficacy of cannabinoids as an integral part of a novel treatment for post-concussion neurological diseases in former NHL players.
- New study led by NEEKA Health Canada will test if CBD-based therapies can reduce the severity of post-concussion brain disorders in former NHL players.
“NHL alumni gave everything they had during their careers, but the physical consequences after they hang up their skates can be devastating for both players and their loved ones for the rest of their lives,” said Glenn Healy, Executive Director of the NHLAA. “This study offers alumni the promise of help and hope, and we are excited to participate in what could become a true game-changer in allowing these professional athletes to finish strong.”
Tilray’s Massive Bull Pennant Chart Pattern: Is the Stock Set to Pop or Drop? – How to Calculate Price Targets: If you have any experience in Technical Analysis, take one glance at a 1-year candlestick chart of Tilray Inc. (NASDAQ: TLRY) and one aspect of their chart should immediately be apparent to you. You will notice Tilray’s massive Bull Pennant chart formation. It’s HUGE, you can’t miss it.
For those new to Technical Analysis (TA), let’s first establish what a bull pennant is and what it could mean for Tilray’s share price moving forward. As per Investopedia, a bull pennant is a “continuation pattern in technical analysis formed when there is a large movement in a security, known as the flagpole, followed by a consolidation period with converging trend lines – the pennant – followed by a breakout movement in the same direction as the initial large movement.”
- Why These Patterns Form
- How to Calculate the Potential Price Target of a Bull Pennant Breakout
Studying these charts can make it easier for you to spot these pennant patterns in the future and take action before the stock breaks out. Sometimes you may have to track a stock for a while to allow the pattern to fully develop before making your move. This is where patience comes into play.
iAnthus Set to Open Third Dispensary in Florida: iAnthus Capital Holdings, Inc., (CSE: IAN) (OTCQX: ITHUF), which owns, operates, and partners with best-in-class regulated cannabis operations across the United States, is pleased to announce the grand opening of its third Florida dispensary, located in the City of Lake Worth. The dispensary will operate as “GrowHealthy Lake Worth” under iAnthus’ “GrowHealthy” Florida dispensary brand. The company will hold a ribbon-cutting ceremony for members of the media at the Lake Worth dispensary on Thursday, March 7, at 9:30 a.m.
“We’re pleased to open up a GrowHealthy location in Lake Worth, which we feel has been underserved in terms of access to cannabis treatment up until this point,” said Frank Quattrone, Vice President of Operations at GrowHealthy. “Lake Worth is a successful and creative community, and we’re happy to serve the robust market that exists in and around the city.”
Aurora Cannabis Closes Whistler Medical Acquisition: Aurora Cannabis Inc. (TSX: ACB) (NYSE: ACB) (Frankfurt: 21P; WKN: A1C4WM) announced today that the Company has completed the acquisition of all the issued and outstanding shares of privately held Whistler Medical Marijuana Corporation, in an all-share transaction, pursuant to the terms of an amalgamation agreement dated January 31, 2019, among Whistler, Aurora, and a wholly owned subsidiary of Aurora.
- Adding Iconic Organic Certified Premium Cannabis Brand
- Strategic Rationale
- Additional Transaction Highlights
- Management Commentary
- The Transaction
“Now that this transaction is complete, we intend to accelerate development of Whistler and leverage its iconic brand globally,” said Terry Booth, CEO of Aurora. “Applying certain of our best practices to the Whistler cultivation protocols, we anticipate an increase in capacity of the Pemberton facility beyond the stated 5,000 kg annual production target. Furthermore, in pursuing EU GMP certification, we expect, once certified, to offer Whistler’s premium organic flower and derivative products in the much higher margin EU medical cannabis market, further increasing the accretive nature of this transaction. Whistler and Aurora are very much aligned with respect to cannabis culture and community. We expect a swift and successful integration with Whistler, our latest partner.”
Ignite International Brands to Acquire Ignite US, Will Pursue Concurrent Financings of up to $150 Million: Ignite International Brands, Ltd. (CSE: BILZ) today announces that it has entered into a letter agreement dated February 28, 2019, with Ignite International, Ltd. pursuant to which the Company will acquire all the shares of Ignite US. The Transaction will constitute a change of business and a reverse take-over under the rules of the Canadian Securities Exchange (CSE).
- Dan Bilzerian to become major shareholder
- Jim McCormick will be appointed President to drive the IGNITE brand strategy in North America and Internationally
The Company’s shares will be halted from trading on the CSE until the Company has made adequate filings with the CSE in regards to its change of business and completes the Transaction.
Tilray Reports Successful Cannabis Harvest in Portugal and Provides Update on European Operations: Tilray, Inc. (NASDAQ: TLRY), a global leader in cannabis research, cultivation, production and distribution, today announced that its wholly-owned subsidiary Tilray Portugal Unipessoal Lda. (“Tilray Portugal”) has completed a successful harvest of medical cannabis at the Company’s European Union (EU) Campus in Portugal.
“Our harvest in Portugal is an exciting milestone for the company as we continue to build our multinational supply chain of high-quality medical cannabis,” said Sascha Mielcarek, Managing Director, Europe. “We look forward to utilizing the capacity of Tilray Portugal to supply the medical cannabis market in Europe as we expand our operations.”
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