Here on the Marijuana Minute, you will find the top stories from around the industry in this week’s Cannabis Stock News Recap for the week of April 22nd – 28th, 2019.
Sweden’s Government Loaded Up on These 2 Marijuana Stocks
It looks like the Swedish government is not so opposed to all things green. Although Sweden’s marijuana laws are some of the harshest in all of Europe, the Swedish Government have announced they have taken a very large stake in two Canadian cannabis companies.
The Government only focused on buying 2 companies, who are known to be highly liquid and trade over 30 million shares per month. Aurora Cannabis (TSX: ACB) (NYSE: ACB) and Canopy Growth Corp (TSX: WEED) (NYSE: CGC) met the Swedish government’s criteria and were added to their portfolio.
Aurora Cannabis Enters Global Licensing Arrangements with EnWave
Aurora Cannabis Inc. (TSX: ACB) (NYSE: ACB) (Frankfurt: 21P; WKN: A1C4WM) and EnWave Corporation (TSXV: ENW) (FSE: E4U) announced today that the companies have entered into a royalty-bearing commercial license agreement, providing Aurora with the exclusive rights to EnWave’s patented Radiant Energy Vacuum (REVTM) drying technology for the production of cannabis materials in the European Union, excluding Portugal. Aurora has also secured exclusive license options for both Australia and South America, excluding Peru, exercisable pursuant to minimum REV™ machine purchase order requirements. Additionally, Aurora has signed a non-exclusive sub-license to use REV™ technology in Canada.
Aurora Cannabis Bolsters Anandia’s Testing Capabilities Through Acquisition of Cannabis Laboratory
Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB) (Frankfurt: 21P; WKN: A1C4WM) announced today that the company has signed a binding share purchase agreement whereby Aurora has acquired all of the issued and outstanding common shares of privately-held Chemi Pharmaceutical Inc, (“Chemi”), an Ontario-based laboratory specialized in providing high quality analytics services to the pharmaceutical and cannabis industries, in a cash and share transaction (the “Transaction”) comprised of an undisclosed cash payment and share consideration of 83,299 shares paid on closing and 41,649 payable upon achievement of certain Chemi milestones.
Canopy Growth’s Spectrum Cannabis and the Arthritis Society to Launch Arthritis Talks and National Symposium Series for Patients
Spectrum Cannabis, the medical division of Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) is pleased to announce a partnership with the Arthritis Society to raise awareness and educate people about living with arthritis, including the potential of medical cannabis as a treatment for arthritis symptoms and the importance of seeking guidance from health care practitioners. The Arthritis Society is a leading charitable funder of arthritis research whose vision is to live in a world where people are free from the devastating effects of arthritis.
In Honour of Earth Day Tweed and TerraCycle Aim to Take Cannabis Packaging Recycling Program Across Canada
In the spirit of Earth Day, Canada’s best-known cannabis brand is thrilled to officially launch the Tweed x TerraCycle recycling program across Canada. Previously available in select stores and provinces, today’s announcement officially marks the roll out of Canada’s first country-wide Cannabis Packaging Recycling Program.
As we approached legalization of recreational cannabis in Canada, Tweed realized a solution was needed for all the new containers, tubes and packages in our industry, to ensure they are diverted away from landfills and upcycled into other products.
Read more WEED news & articles
Green Organic Dutchman Receives Organic Certification for European Acquisition in Poland
The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX: TGODF) is pleased to announce that its wholly-owned subsidiary, HemPoland, has received organic certification from EKOGWARANCJA PTRE. This organic certification is provided by the Polish Center for Accreditation on authority from the Minister of Agriculture and Rural Development. HemPoland’s facilities, production processes, and product offerings are now certified organic.
“We are incredibly excited that HemPoland’s facilities, production, and processes have received organic certification within Europe,” stated Brian Athaide, CEO of TGOD. “This is a major point of differentiation that offers consumers a premium experience. We are proud to continue to deliver and execute on our global organic strategy.”
The Green Organic Dutchman Receives Cannabis Oil Sales Licence from Health Canada
The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX: TGODF) is pleased to announce it has received its oil sales licence from Health Canada pursuant to the Cannabis Act for its Hamilton, Ontario facility.
The Company received its oils production licence in April of 2018 and subsequently installed a state-of-the-art supercritical CO2 extraction system, capable of processing ultra-pure, environmentally friendly, organic cannabis oils. The process is free of toxic solvents and does not require any winterization protocol. The result of this specialized extraction process is a precisely concentrated, aromatic golden-brown oil that is as close to the original plant composition as can be achieved. TGOD’s premium cannabis products, including its cannabis oils, are certified organic by ProCert and its innovative growing process is certified organic by both ProCert and Ecocert, producing a clean, high-quality end product.
Read more TGOD news & articles
Aleafia Health Added to NYSE-Listed AdvisorShares Pure Cannabis ETF
Aleafia Health Inc. (TSX: ALEF) (OTCQX: ALEAF) (FRA: ARAH) has been added to the AdvisorShares Pure Cannabis ETF (NYSE: YOLO), which is listed on the NYSE.
“Aleafia Health welcomes the increased exposure to U.S. investors resulting from our addition to the trailblazing Pure Cannabis ETF,” said Aleafia Health Chairman Julian Fantino. “This will provide our Company with a new avenue to tell the Aleafia Health story as we remain relentlessly focussed on the execution of our cannabis health and wellness platform.”
Read more ALEF news & articles
TransCanna to Acquire Daily Cannabis Goods Brand Via GoodFellas Acquisition
TransCanna Holdings Inc.(CSE: TCAN) (FSE: TH8)announces that the acquisition of GoodFellas will result in acquiring an additional existing brand called Daily Cannabis Goods. The Daily brand consists of three quality half gram pre-rolls which are attractively packaged and priced.
“The Daily brand is a perfect fit for TransCanna,” Stated Jim Pakulis, CEO of TransCanna. “The start-up costs were nominal, it has SKU velocity now that it’s selling in over thirty dispensaries, and it’s constantly beating the competition due to consumer demand.”
Read more TCAN news & articles
Organigram Submits Application to List on NASDAQ
Organigram Holdings Inc. (TSXV: OGI) (OTCQX: OGRMF), the parent company of Organigram Inc., a leading licensed producer of cannabis, announced today that it has applied to list its common shares on the NASDAQ Global Select Market (“NASDAQ”).
In advance of anticipated listing on the NASDAQ, Organigram will file a Form 40-F Registration Statement with the United States Securities and Exchange Commission. The listing of the Company’s common shares on the NASDAQ remains subject to the approval of the NASDAQ and the satisfaction of all applicable listing and regulatory requirements. The Company will continue to maintain the listing of its common shares on the TSX Venture Exchange under the symbol “OGI”.
HEXO Has Over 38% of Newstrike Shareholders Supporting the Acquisition
HEXO Corp. (TSX: HEXO; NYSE-A: HEXO)today announced that it has entered into irrevocable hard voting support agreements with shareholders of Newstrike Brands Ltd. (TSX-V: HIP) representing in aggregate approximately 38.3% of Newstrike’s issued and outstanding common shares in connection with definitive arrangement agreement under which HEXO will acquire, by way of a plan of arrangement under the Business Corporations Act (Ontario), all of Newstrike’s issued and outstanding common shares in an all-share transaction.
“We’re pleased to have secured hard lock up support for 38.3% of Newstrike shareholders since announcing the agreement,” said Sebastien St-Louis, HEXO’s CEO and co-founder. “This is a great recognition of the extreme alignment between both companies’ management and boards, as well as a vote of confidence in HEXO’s vision for the future. We are eager for the Newstrike family to embark on this journey with us!”
Read more HEXO news & articles
Aphria Terminates Green Growth Brands’ Hostile Takeover Bid
Aphria Inc. (TSX: APHA) (NYSE: APHA) today announced that the previously announced take-over bid by Green Growth Brands Inc. (“GGB”) has failed to meet the statutory minimum tender condition and has now expired and is terminated. As previously announced on April 15, 2019, the Company entered into a definitive agreement with GGB to accelerate the expiry date of the Offer to April 25, 2019, as well as to terminate certain arrangements with GA Opportunities Corp. for consideration of $89.0 million payable on future dates as set out in the April 15th press release.
Read more APHA news & articles
Tilray Celebrates Official Opening of European Union Campus for Medical Cannabis
Tilray (NASDAQ: TLRY), a global pioneer in the research, cultivation, production and distribution of cannabis today celebrated the official opening of its European Union (EU) Campus located in Cantanhede, Portugal. Tilray CEO Brendan Kennedy, global senior leaders and the EU Campus Team welcomed guests from all over the world including international healthcare professionals, government officials and local dignitaries to celebrate the inauguration of the company’s European production and distribution centre.
For the event, which followed Tilray’s successful outdoor harvest last year and greenhouse harvest earlier this year, guests were invited to attend a ribbon-cutting ceremony and tour Tilray’s state-of-the-art facility.
Read more TLRY news & articles
TerrAscend Releases Q4 2018 Financials, Anticipates 2019 Revenues of Over $135 Million
TerrAscend Corp. (CSE: TER) (OTCQX: TRSSF) today reported financial results for the fourth quarter ending December 31, 2018. Financial results and analyses are available on the Company’s website (www.terrascend.com) and SEDAR (www.sedar.com).
Financial Highlights
- For the three months ended December 31, 2018, revenue totaled $5.0 million, up from $1.8 million in the third quarter of 2018 and $0.0 million in the fourth quarter of 2017.
- Net loss was $11.7 million or $0.13 per share for the three months ended December 31, 2018, compared with a net loss of $778 thousand or $0.02 per share for the fourth quarter of 2017.
- As of December 31, 2018, the Company held $21.7 million in cash and cash equivalents.
CannTrust Provides Revenue Guidance of $17 Million for Q1 2019
CannTrust Holdings Inc. (TSX: TRST) (NYSE: CTST) today released preliminary operational and financial results for the quarter ended March 31, 2019.
“These preliminary results represent the excellent efforts the CannTrust team has made in increasing output at our Niagara perpetual harvest greenhouse. We are quickly approaching our stated capacity of 50,000kg per year from our Phase 2 expansion. Our 96% sequential increase in production over the prior quarter will enable us to service both our rapidly growing base of medical patients and the high demand in the recreational market for our award-winning products and brands.” said Peter Aceto, Chief Executive Officer. “We expect gross margins between 42% to 46% in the first quarter of 2019, and plan to deliver continued improved profitability as our volumes increase, as we make targeted price increases and as we realize the benefits of our low-cost high-quality production strategy.”
Read more TRST news & articles
Liberty Health Announces Successful Launch of Whole Flower Smokable Products in Florida
Liberty Health Sciences Inc. (CSE: LHS) (OTCQX: LHSIF), a provider of high-quality cannabis, is pleased to announce that it successfully launched sales of its whole flower smokeable products as well as its pre-rolled cannabis cigarette products this past weekend. Liberty is also pleased to announce that Mr. Jeff Chan, Liberty’s Vice President, Finance will serve as interim Chief Financial Officer following the previously announced resignation of Mr. Rene Gulliver as Chief Financial Officer effective April 14, 2019.
“Our sales results from our first weekend of flower sales went beyond expectations,” said Victor Mancebo, Interim Chief Executive Officer of Liberty. “This justifies our investment into our massive Liberty 360 facility, in which we expect to continue to increase our production capability and thereby better serve all patients across Florida.”
Cresco Labs Announces Profitable Q4 2018 Financial Results, Revenue Soars 411% Year-Over-Year
Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF) one of the largest vertically integrated multistate cannabis operators in the United States, today released its unaudited financial results for the fourth quarter and full year ended December 31, 2018. All financial information presented in this release is in U.S. dollars unless otherwise noted.
Fourth Quarter 2018, Full Year 2018 Highlights and Subsequent Events
Revenue
- Fourth quarter revenue of $17.0 million, up 411% year-over-year and 33% quarter-over-quarter.
- Full year revenue of $43.3 million, up 294% from the prior year.
- Fourth quarter pro forma revenue1 of $22.5 million and full year pro forma revenue of $75.6 million.
SOL Global to Acquire Fully Licensed Michigan Cannabis Business
SOL Global Investments Corp. (CSE: SOL) (OTCQB: SOLCF) (Frankfurt: 9SB), the owner of 3 Boys Farms, LLC, which holds one of Florida’s original 14 operating and vertically integrated medical marijuana treatment center licenses, is pleased to announce that it has entered into a binding letter of intent with cannabis-focused private equity firm Merida Capital Partners dated April 23, 2019, to acquire Merida’s Michigan subsidiary, MCP Wellness, Inc. for an aggregate purchase price of US$150 million. MCP Wellness, a special-purpose vehicle (SPV) created to invest in Michigan cannabis operations, currently holds the rights to acquire two Michigan cultivation licenses, a processing license, and 3 fully licensed cannabis provisioning centers in Michigan with a fourth provisioning center scheduled to open in Ann Arbor in May.
Village Farms Under Scrutiny by Infamous Short Seller
Citron Research has released its hard-pressed opinion of Village Farms (TSX: VFF) (NASDAQ: VFF). Although their short position comes with a question of intentions, their reports are usually backed with evidence-based arguments. In this case, the research firm claims that the SEC should be getting involved and halting Village Farms’ stock as they supposedly violated a whole blanket of regulatory rules. In 2017 Village Farms saved their failing tomato business with a perfectly timed joint venture with Emerald Health Therapeutics (TSXV: EMH) (OTCQX: EMHTF). The stock entered the market with no shortage of paid promotion and hasn’t stopped since. Citron research claims they are one of the many pretenders whose share price has inflated due to false promises.
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