One of the big Canadian public producers got itself a brand new executive leader this week.

Meanwhile, a dispute between a cannabis investment company and its shareholders intensified.

Keep reading to find out more cannabis highlights from the past five days.

Aurora Cannabis names new CEO

Miguel Martin has been appointed the new CEO of Aurora Cannabis (NYSE:ACB,TSX:ACB).

“Miguel is a highly experienced executive with an exceptional track record of performance in a number of consumer products categories,” said Michael Singer, now ex-interim CEO for the company.

“After an extensive search which included evaluation of many highly-respected candidates, Miguel stood apart with both strong commercial and cannabinoid sector expertise, as well as his passion for Aurora’s success,” Singer added in a statement.

Martin previously served as an executive with electronic cigarette-maker Logic Technology.

Aurora also took the opportunity to give investors a business update and offered unaudited preliminary results for its fourth fiscal quarter.

According to the producer, it now expects its net revenue line for the period to fall between C$70 million and C$72 million, lower than the C$75.5 million recorded in the previous quarter.

Shareholder dispute continues

This past week, Australis Capital (CSE:AUSA,OTC Pink:AUSAF) told the market it met with the disgruntled shareholders it’s having a dispute with; after that, the company issued a letter to the group.

In its letter, the company claims the group did not meet with the leaders of the firm in good faith.

“While some members of your group have at times made a number of valid points and continued to do so on Friday, other members of your group and your public communications have continued to demonstrate a propensity to fabricate and obfuscate,” wrote Harry DeMott, director of Australis Capital.

The investor group in contention with the company issued its own statement following the letter from Australis. In its statement, the investors dispute the intentions of the board in the wake of the recent missed acquisition strategy.

The shareholder group is now issuing an ultimatum to the company: “We call on the members of this self-serving, self-interested and self-preserving Board to STAND DOWN to the will of the holders of nearly 40 (percent) of Australis’ outstanding shares.”

Cannabis company news

  • Village Farms International (NASDAQ:VFF,TSX:VFF) announced it plans to acquire the remaining shares it does not own already of cannabis producer Pure Sunfarms, a joint venture managed with Emerald Health Therapeutics (CSE:EMH,OTCQX:EMHTF), in a deal worth C$79.9 million.
  • High Tide (CSE:HITI,OTCQB:HITIF) told its shareholders it will release its Q3 operational results next week, on September 16.
  • Liberty Health Sciences (CSE:LHS,OTCQX:LHSIF) gave investors a sneak peek into the progress on its LHS360 facility in Gainesville, Florida.

Don’t forget to follow us @INN_Cannabis for real-time updates!

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

Trulieve to donate $20,000 in scholarship funding and $15,000 to support leadership development

Trulieve Cannabis Corp . (CSE: TRUL) (OTC: TCNNF), a leading and top-performing cannabis company in the United States today announced a new partnership with the Thurgood Marshall College Fund (TMCF), the nation’s largest organization exclusively representing the Black College Community. Trulieve will donate $20,000 to help fund several college scholarships awarded to students who are attending one of the organization’s member-schools as part of Trulieve’s diversity, equity, and inclusion initiatives. The $15,000 in talent funding is earmarked to support TMCF’s internship program, reaching a diverse talent pool of students and alumni from their 47 member-schools to provide immersive experiences at Trulieve.

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The new dispensary expands patient access to Florida’s largest inventory of medical cannabis products

Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “the Company”), a leading and top-performing cannabis company based in the United States announced today the opening of a brand-new Florida dispensary, the Company’s 80th nationwide. The new location marks the Company’s first in Tamarac and third in Broward County expanding patient access to Florida’s largest and broadest assortment of high-quality medical cannabis products.

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Revive Therapeutics Ltd. (“Revive” or the “Company”) (CSE: RVV, USA: RVVTF), a specialty life sciences company focused on the research and development of therapeutics for medical needs and rare disorders, is pleased to announce an update on the Company’s U.S. Food & Drug Administration (“FDA”) Phase 3 clinical trial (the “Study”) to evaluate the safety and efficacy of Bucillamine in patients with mild to moderate COVID-19.

With its recent $23 million dollar financing, the Company plans to aggressively expand from 14 clinical sites to up to 50 clinical sites to meet the next enrollment goals for the Study in Q2-2020. The Study is a randomized, double-blinded, placebo-controlled trial and the safety and efficacy data analyzed at each interim analysis timepoint of 210, 400, 600 and 800 completed patients are only made available to the Independent Data and Safety Monitoring Board (“DSMB”) for review and recommendations on continuation, stopping or changes to the conduct of the Study. In the event of any serious safety concerns, the DSMB would be notified to determine any risks and provide its recommendations. To date, in this initial 210 interim point there have been no serious safety concerns that required the DSMB to be notified.

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HempFusion Wellness Inc. (TSX:CBD.U) (OTCQX:CBDHF) (FWB:8OO) (“HempFusion” or the “Company”), a leading health and wellness CBD company utilizing the power of whole-food hemp nutrition, is pleased to announce that its common shares have been approved for DTC full-service eligibility in the United States by the Depository Trust Company (“DTC”) and can now be both traded and serviced through DTC’s electronic book-entry system.

DTC is a subsidiary of the Depository Trust & Clearing Corp. (“DTCC”) that provides clearing and settlement services for the financial markets and settles the majority of securities transactions in the United States. This electronic method of clearing securities speeds up the receipt of stock and cash and thus accelerates the settlement process for investors and brokers, enabling the stock to be traded over a much wider selection of brokerage firms.

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CFN Enterprises Inc. (OTCQB: CNFN) (CFN Media) partners with FMW Media Works LLC to produce a regular series on the global cannabis markets to air on major financial news networks across the US. Initial segment features leading cannabis analyst and US Multi-State Operator (MSO)

CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the leading media network dedicated to the global legal cannabis, CBD and psychedelics industries, today announced that its inaugural news segment on the cannabis markets, “Cannabis Market Outlook for 2021,” will air on Bloomberg, Newsmax and Fox Business.

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