As the legalization of recreational cannabis approaches the Canadian market, September offered another hectic month for the overall industry.
The Ontario government has unveiled more regulations on how exactly its retail market will work once shops become widespread next April. “Any licensed producer will be permitted to hold a single retail license at a single production site located in Ontario,” Ontario’s Attorney General Caroline Mulroney said. The province will also limit how many licenses a specific company or person may hold.
The markets took a minor dip in reaction as a collection of LPs have made significant bets to expand networks of cannabis retail shops across Canada.
Cannabis companies seek premier US listing
Aurora Cannabis (TSX:ACB) and Aphria (TSX:APH) are pursuing a listing on a US premier exchange, either the Nasdaq or New York Stock Exchange (NYSE). With that interest in mind the two companies completed divesting the remaining interests in the US market off the books.
Australis (CSE:AUSA) is a new cannabis investment company which is a spin off from Aurora. The new company will seek opportunities in the fractured US cannabis market. Meanwhile Aphria sold its remaining stake in Liberty Health Sciences (CSE:LHS), a multi-state operator in the US with assets in Florida originally launched as a subsidiary of the Canadian LP.
Tilray takes investors on wild ride
The Canadian LP enjoyed a rush in the public markets as part of a combination of the new interest from US investors and a tight float limiting the access to exposure on the company. During the month of September shares of the company rose in value 86.50 percent and even reach a price tag of over US$300.
Observers of the industry debated the impact this kind of stock volatility could have on the overall cannabis space.
Nic Easly, CEO of 3C Consulting and a managing partner with Multiverse Capital, told the Investing News Network (INN) Tilray’s stock was out of control. “It’s going to hurt investor confidence in public markets and private markets,” Easley said.
Others didn’t share the same sentiment as Easley. Alan Brochstein, a cannabis analyst with 420 Investor cannabis analyst, wrote in a weekly newsletter he viewed the rush to Tilray s a “big positive” for the whole sector.
Watch the video above for more on what happened during the month of September.
Don’t forget to follow us @INN_Cannabis for real-time news updates!
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
American cannabis sales hit US$17.5 billion in 2020, a research group’s new study shows.
Meanwhile, a Canadian cannabis producer began offering CBD beverages in the US, another move that shows how interested Canadians are in the overall US cannabis market at the moment.
Some pretty important news out of health and wellness; beverage and natural products company BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF, FSE:7BC) this week. For those of you following the Company with us, stay tuned.
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).