This past week in the cannabis space, investors saw the return of a former publicly traded Canadian producer that experienced a fall from grace.

Below the border, the US market provided plenty of updates — one longstanding executive left the troubles at her company, and the biggest cannabis-based drug received new approvals.

Keep reading to find out more of the highlights from this week.

Is CannTrust making a comeback?

On Thursday (August 6), Ontario-based cannabis producer CannTrust Holdings told the market that Health Canada has reinstated various federal licenses at its facility in Vaughan, Ontario.

“Today marks the beginning of the next chapter in CannTrust’s history,” Greg Guyatt, CEO of CannTrust, said in a statement. “We are excited to return to work with our partners to provide our consumers and patients with high-quality cannabis products.”

But can CannTrust really go back to normal after everything that has happened?

The company was found to have produced cannabis products in an unregulated and therefore illicit way in July 2019. The discovery led to revelations of improper handling all the way to the top. Both former CEO Eric Paul, who also served as chair of the board, and Peter Aceto, then the CEO of CannTrust, were directly aware and had sanctioned the company’s actions. Both were eventually dismissed.

A report from Marijuana Business Daily indicates that one expert believes it’s too early to voice an indictment of the process Health Canada went through with CannTrust.

CannTrust said it plans to begin operations in Vaughan immediately. However, the company has no “meaningful revenues and has terminated or laid-off a significant portion of its workforce.” It is also no longer listed on both the TSX and NYSE.

Architect of US cannabis MSO strategy departs amid company turmoil

iAnthus Capital Holdings (CSE:IAN,OTCQX:ITHUF) confirmed on Tuesday (August 4) that Elizabeth Stavola, its chief strategy officer and director, has left the company.

Stavola was originally a part of multi-state operator (MSO) MPX Bioceutical and joined iAnthus during an acquisition deal. The former iAnthus executive told Forbes that lately she hasn’t been as much a part of the business-building element of cannabis.

“I really miss being in the weeds, no pun intended. I miss rolling up my sleeves up and building a business and I miss that part of it,” she said. Stavola has been credited as the force that built MPX to the point where it was acquired by iAnthus in a play to compete with the larger MSOs in the public space.

iAnthus is in the midst of a corporate firestorm as now ex-CEO Hadley Ford was revealed in March to have been “acting in a conflict of interest and has misused iAnthus’ resources to his own benefit.”

Ford was dismissed after an investigation found he had secured personal loans worth US$160,000 from an arm’s-length party; the loans should have been disclosed to the company’s board.

Cannabis company news

  • GW Pharmaceuticals (NASDAQ:GWPH) announced the US Food and Drug Administration has expanded the range of treatment for its cannabinoid drug EPIDIOLEX. The regulator has approved the drug for the treatment of seizures associated with tuberous sclerosis complex in patients one year of age and older.
  • Eve & Co. (TSXV:EVE,OTCQX:EEVVF) signed a new partnership with Canadian winery Colio Estate Wines. This new business relationship, done through Eve’s subsidiary Natural MedCo, will work on the development of “premium cannabis-infused wine-based beverage.”
  • Village Farms International (NASDAQ:VFF,TSX:VFF) plans to acquire a 6.6 stake in Australia-based Altum International in order to execute on an international expansion plan. Altum offers exposure to the cannabidiol (CBD) market in the Asia-Pacific region, as the firm already has CBD products in Hong Kong.
  • Aphria (NASDAQ:APHA,TSX,APHA) confirmed a new agreement with InterCure’s (TASE:INCR,TASE:INCR.TA) subsidiary Canndoc for dried bulk cannabis flower supply, representing 3,000 kilograms over a two year period. “Today’s announcement is about … the strength and quality of our medical brand,” Aphria Chairman and CEO Irwin Simon said.

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.

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 its participation in the following investor conferences:

  • Needham 2nd Annual Virtual Cannabis Conference – March 3 rd , 2021 – Management will participate in virtual one-on-one meetings.
  • 33rd Annual Roth Conference – March 15 th -17 th , 2021 – Charlie Bachtell, CEO and Co-Founder, will participate in a Fireside Chat and management will later participate in virtual one-on-one meetings on April 7 th .
  • Stifel Multi-Sector Conference – April 21 st , 2021 – Management will participate in virtual one-on-one meetings.

About Cresco Labs

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Green Thumb Industries, a leading cannabis consumer packaged goods company and owner of Rise™ Dispensaries, is expanding key partnerships and creating scholarships earmarked for those from communities most impacted by the war on drugs as part of its corporate social responsibility program. The scholarships will be granted to a total of four students for programs at the Cleveland School of Cannabis in Ohio and Olive-Harvey College in Illinois. Additionally, Green Thumb will continue its support of Cabrini Green Legal Aid and partner with the North Lawndale Employment Network in Chicago as part of ongoing collaborations that include financial support, volunteerism and awareness initiatives.

Building on the foundation of Green Thumb’s LEAP initiative, which provided pro-bono support for social equity license applicants in Illinois and which will soon offer business incubator resources to newly awarded social equity entrepreneurs, these impactful partnerships mark a critical next step in prioritizing diversity, equity, and inclusion in the cannabis industry.

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All five flavours of the Company’s KOIOS™ nootropic beverage product are now being carried by Jensen’s, a regional supermarket chain operating in the San Diego, Los Angeles, and Palm Springs areas of Southern California. This placement of KOIOS™ follows several other recent placements of the Company’s beverage products in regional supermarket chains across the United States as part of a strategy to passively build market share in specific geographical areas.

Koios Beverage Corp. (CSE: KBEV; OTC: KBEVF) (the “Company” or “Koios”) is pleased to announce that the full range of five flavours of its KOIOS ™ nootropic beverages can now be purchased at all grocery stores operated by Jensen’s Foods (“Jensen’s”), a long-established family-owned grocery chain operating in the San Diego, Los Angeles, and Palm Springs areas of Southern California. In a press release dated February 19, 2021 the Company announced another chain-wide placement of KOIOS ™ nootropic beverages on the west coast of the United States with Market of Choice in Oregon. With this placement of KOIOS ™ in Jensen’s supermarkets, the Company’s beverage products are now carried in approximately 180 retail stores on the west coast, out of a total of more than 4,000 retail stores nationwide.

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 Lobe Sciences Ltd. (CSE: LOBE) (OTC Pink: GTSIF) (“Lobe” or the “Company”) announces that Philip Young, CEO and Director, and Maghsoud Dariani, Chief Science Officer will be presenting on Thursday, February 25th, 2021 at 5:45 pm EST at “The Gold Standard in Psychedelic Investment, Psychedelic Capital Virtual Investment Conference”, a platform showcasing the top companies, latest IPOs, newest opportunities, and deepest industry insights.

As a presenting sponsor, the Company will connect directly with some of the earliest moving investors in the psychedelic industry and reach an audience of 2,000+ investors. Presentations are 30 minutes in length, with 10 minutes allocated to a one-on-one Q&A session with the audience.

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As Canadian operators race to strengthen their positions in the cannabis landscape, are international pursuits outside North America still top of mind?

The role that mergers and acquisitions (M&A) have played in the expansion of Canadian companies across the globe has been monumental for the growth of the cannabis industry. Now the space has reached a critical point as the demands of the US market increase.

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