On Thursday (November 8), Aphria (NYSE:APHA,TSX:APHA) CEO Vic Neufeld said the company wants to make sure the partner they choose from an established industry will “leverage” the company’s vision.
Amid pressure to deliver a similar relationship to the one Constellation Brands (NYSE:STZ) and Canopy Growth (NYSE:CGC,TSX:WEED) formed last year Neufeld, during a televised interview with BNN Bloomberg, said Aphria has been in conversation with “many entities.”
“We remain in dialogues with many different industry global giants in different spaces,” the executive said.
Most recently, Aphria was linked with tobacco company Altria Group (NYSE:MO) the makers of Marlboro cigarettes. A report from The Globe and Mail indicated a deal was in place but nowhere near being finalized.
Rumors have circulated of veteran companies such as Diageo (NYSE:DEO) and The Coca-Cola Company (NYSE:KO) making heavy moves towards the marijuana industry; no deals have been finalized yet with any cannabis company.
Despite confirming a general interest in the potential for cannabinoid infused health beverages, Coca-Cola has denied its involvement or the possibility to sign a deal with cannabis producer.
“Along with many others in the beverage industry, we are closely watching the growth of non-psychoactive CBD as an ingredient in functional wellness beverages around the world. The space is evolving quickly. No decisions have been made at this time,” Coca-Cola said at the time.
The new company will oversee the development of infused beverages with cannabis and the eventual sale of these into the Canadian market.
As cannabis investors continue to wait for the confirmation of deals with established players to provide a boost in the stock market, cannabis companies without these deals continue the promise that they are looking for the “right” deal.
Aphria was able to uplist and gain a spot on the New York Stock Exchange (NYSE) in October, a move that was seen by experts as a way to expand its investor audience and get one step closer to a deal with an established company.
“Listing on the NYSE provides Aphria with access to the largest equity market in the world, with increased exposure to a vast array of US institutional and retail investors,” Neufeld said in the statement.
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Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
As investors continue to prioritize cannabis opportunities in the US, market watchers expect mergers and acquisitions (M&A) to play a role in the future for Canadian companies.
A consolidation trend has been expected in the Canadian cannabis space for some time now based on the size of the market compared to the number of operations in the country.
BioHarvest Sciences Inc. Unveils the Unique Polyphenolic Content of Its Upcoming Olive-Based Nutraceutical
The product will include polyphenols known to have significant health benefits.
BioHarvest Sciences Inc. (CSE: BHSC) (“BioHarvest” or the “Company”) has reached an important milestone in its development program of additional Nutraceuticals. The olive-based Nutraceutical product scheduled for market availability in the second half of 2022 will contain the following unique matrix of polyphenols: hydroxytyrosol, trosol, and verbascoside. These compounds are the major polyphenols in naturally grown olives and are responsible for the high antioxidant activity of olives and olive oil. Importantly, the BioHarvest olive-based Nutraceutical product will provide all the benefits of olives and olive oil with a low calorie count per serving.
Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or the “Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced today that it will report financial results for the fourth quarter and full year ended December 31 st , 2020 on Thursday March 25 th , 2021 before the market opens.
The Company will host a conference call and webcast to discuss its financial results and provide investors with key business highlights on Thursday March 25 th , 2021 at 8:30am Eastern Time (7:30am Central Time).
Canopy Growth to Participate in BofA Securities Virtual Consumer & Retail Technology Conference on March 11, 2021
Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC) (“Canopy Growth” or “the Corporation”) announced today that EVP & CFO Mike Lee will be participating in a fireside chat at the BofA Securities Virtual Consumer & Retail Technology Conference on Thursday, March 11, 2021 at 9:30am ET .
Hill Street Beverage Company Inc. (TSXV: BEER) (“Hill Street” or the “Company”). The Company announces that further to its press release dated March 2, 2021, it has obtained TSX Venture Exchange approval to extend the closing date of its previously announced private placement of units (“Units”) until April 7, 2021. Each Unit is comprised of one (1) common share and one (1) warrant, exercisable for one common share at price of $0.11 per share, for a period of three (3) years from the date of Closing. The Company applied to extend the date of closing to allow a greater number of interested investors to participate.
For more information regarding the Company or the offering, please contact email@example.com, or