The Israeli cannabis market is picking up with a new supply deal from a Canadian producer.

Also this week, new data showed sales of Canadian cannabis edible products may be stalling.


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

Aurora will supply Israeli medical cannabis company

Aurora Cannabis (NYSE:ACB,TSX:ACB) signed a supply deal with Cantek Holdings for the next two years for a minimum of 4,000 kilograms of dried flower per year. Aurora sent its first shipment to Israel during the week of November 16.

“This Agreement provides Aurora with a great opportunity to expand our medical cannabis brand and industry leading science in one of our key international markets of focus,” said Miguel Martin, CEO of Aurora.

Netsah Israel, CEO of Cantek, said the agreement represents a vote confidence both for his firm and the Israeli cannabis market as a whole.

Canadian edibles facing lag in sales

New data shows edibles in the Canadian cannabis market are not selling as well as producers would like.

In a report, Marijuana Business Daily indicates that provincial distributors and retailers had nearly 10 million units of various products in stock in August. Meanwhile, sales for the same month reached just 1.42 million products. From these edible products, the much-touted cannabis drinks are also included.

“August sales growth of edibles cannabis products was the lowest since the products started hitting the market in late 2019,” the report states.

Cannabis company news

  • The Valens Company (TSX:VLNS,OTCQX:VLNCF) secured an amendment to its Health Canada permit for processing cannabis so it can begin manufacturing and processing at its new 42,000 square foot facility in Kelowna, BC.
  • Village Farms International (NASDAQ:VFF,TSX:VFF) told investors its subsidiary cannabis producer Pure Sunfarms obtained a research license for the sensory evaluation of cannabis in trials. Additionally, the company’s products will be featured in a CBD-infused gift set set to be sold in Hong Kong.
  • PharmaCielo (TSXV:PCLO,OTCQX:PCLOF) announced the closure of a C$10 million private placement as the company added longtime cannabis investor and executive Marc Lusting to its board of directors.
  • Gage Cannabis plans to hit the public markets early in 2021. The Michigan-focused cannabis firm backed by Bruce Linton has announced an equity financing deal for investors.

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.

Canopy Growth Corporation (“Canopy Growth” or the “Company”) (TSX: WEED) (NASDAQ: CGC) will release its financial results for the third quarter fiscal 2021 ended December 31, 2020 before financial markets open on February 9, 2021.

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NYSE | TSX: ACB

Aurora Cannabis Inc. (the “Company” or “Aurora”) (NYSE: ACB) (TSX: ACB), the Canadian company defining the future of cannabinoids worldwide, announced today the closing of its previously announced bought deal public offering (the “Offering”) of units of the Company (the “Units”) for total gross proceeds of US$137,940,000 . The Company sold 13,200,000 Units at a price of US$10.45 per Unit, including 1,200,000 Units sold pursuant to the exercise in full of the underwriters’ over-allotment option.

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Aurora Cannabis Inc. (the “Company” or “Aurora”) (NYSE | TSX: ACB), the Canadian company defining the future of cannabinoids worldwide, announced today the closing of its previously announced bought deal public offering (the “Offering”) of units of the Company (the “Units”) for total gross proceeds of US$137,940,000. The Company sold 13,200,000 Units at a price of US$10.45 per Unit, including 1,200,000 Units sold pursuant to the exercise in full of the underwriters’ over-allotment option.

Each Unit is comprised of one common share of the Company (a “Common Share”) and one half of one common share purchase warrant of the Company (each full common share purchase warrant, a “Warrant”). Each Warrant is exercisable to acquire one common share of the Company (a “Warrant Share”) for a period of 36 months following the closing date of the Offering at an exercise price of US$12.60 per Warrant Share, subject to adjustment in certain events.

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AMP German Cannabis Group Inc. (” AMP “) (CSE: XCX ), ( Frankfurt : C4T ) (ISIN: CA00176G1028) and Aphria Inc.’s (” Aphria “) (TSX: APHA ) (NASDAQ: APHA) wholly-owned German subsidiary, CC Pharma GmbH (” CC Pharma “), have entered into a strategic agreement (the ” Co-Promotion Agreement “) covering joint marketing of sales for Aphria brand medical cannabis products for the German market.

The Co-Promotion Agreement is a collaboration contract between AMP and CC Pharma to sell the Aphria medical cannabis brand in Germany . In addition, AMP will organize with the support of CC Pharma, “information events” in Germany to market Aphria branded products to doctors and pharmacists.

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HempFusion Wellness Inc. ( TSX:CBD.U ) ( FWB:8OO ) (“ HempFusion ” or the “ Company ”) is pleased to announce that it has been included in two leading cannabis & hemp-derived CBD focused exchange-traded funds (“ ETFs ”), AdvisorShares Pure US Cannabis ETF ( NYSE:MSOS ) and AdvisorShares Pure Cannabis ETF ( NYSE:YOLO ).

AdvisorShares is a leading sponsor of actively managed ETFs. Pure US Cannabis ETF (MSOS) is the only US-listed ETF dedicated solely to US cannabis exposure, with over US$616,000,000 in assets under management (“ AUM ”). Pure Cannabis ETF (YOLO) was the first US-based actively managed ETF focused on the global cannabis industry. YOLO and MSOS endeavor to achieve long-term capital growth by investing in some of the largest foreign and domestic cannabis and hemp-derived CBD companies. The two AdvisorShares ETFs have a combined AUM of over US$880,000,000 as of January 22, 2021.

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