During the past trading week (August 13 to 17), the US alcohol producer behind Corona beer announced it will be increasing its stake in a Canadian cannabis producer, further legitimizing the growth of the industry.
A report on the market and reactions following the decision by Ontario to open the recreational cannabis retail market to private companies complete this cannabis weekly round-up.
The decision by Constellation Brands (NYSE:STZ) on Wednesday (August 15) to increase its stake in Canadian licensed producer (LP) Canopy Growth (TSX:WEED,NYSE:CGC) sent the cannabis public markets off to the races thanks to another vote of confidence from an established market.
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The alcohol company will invest C$5 billion in Canopy and obtain 104.5 million shares, effectively gaining a 38-percent stake. The two will continue to work on the development of infused cannabis beverages and the actual capital will be used by Canopy to fund its international expansion.
Charles Taerk, president and CEO of Faircourt Asset Management, told INN this move was a much-needed “shot in the arm to remind [investors] that it’s not just about the short term.”
He added, “it legitimizes the Canadian businesses and it legitimizes global recreational and medical opportunities, and then you ask the question ‘ok who’s next?’ … that is really a list of companies that we feel are well positioned, have capacity and don’t have a dance partner, so it’s potential.”
The Horizons Marijuana Life Sciences Index ETF (TSX:HMMJ) and the Horizons Marijuana Growers Index ETF (NEO:HMJR) both shot up with rises of 11.65 and 7.25 percent, respectively, on Wednesday.
Ontario gives green light to private cannabis retail
After weeks of speculation, Ontario’s newly elected Progressive Conservative government announced it will privatize the retail cannabis market set to open following the legalization of adult-use cannabis on October 17. However, actual retail shops will not open in the province until the spring next year.
Between legalization and next spring, consumers will only be allowed to buy legal pot for recreational use through an online system — a move that will lead to the continued use of the black market in Ontario, according to several experts and observers of the industry.
“Ontario will begin to consult on a number of rules all retailers will be mandated to follow including set hours of operation and staff training,” the province said.
This process will include conversations with Ontario municipalities, indigenous communities, law enforcement, public health advocates, businesses and consumer groups and provincial representatives.
Nearly the entire Canadian cannabis stock market took a hit in reaction to the Ontario delay on Tuesday (August 14). Taerk said at the time that the short-term moment of weakness could offer investors a chance to “add to certain positions.”
Show notes from MJBizCon INT’L
The Investing News Network (INN) covered three days of action at MJBizCon INT’L in Toronto. Talks covered valuations, risks investing in the cannabis space, new markets and general advice for investors.
On Tuesday, attendees got a crash course on the finer details of cannabis investing. Canopy Ventures Managing Director Micah Tapman told INN that investors need to be aware of the baseline risk involved with the space and how different the risk is compared to other investments.
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Jason Zandberg, cannabis equity analyst for PI Financial, said during a presentation at the show that he is expecting the market to change rapidly with specialization entering the picture in the Canadian landscape. The analyst also expressed bullish sentiment for the growing retail side of the business. “If we do see this overcapacity situation, we believe retailers will be in great position to capitalize on the lower price,” he said.
Jennifer Sanders, CEO of equity firm CNS Equity Partners, spoke at MJBizCon INT’L on the challenges companies are facing when attempting to move brands or products into foreign markets. Sanders told INN capitalization plays a massive role in the expansion she described.
“If someone does not have or they don’t have access to someone who has that international advisory, international council auditing, tax … there’s really no way that they are going to be able to navigate properly, it’s extremely expensive to bring these people on,” Sanders told INN.
Market update
Following Ontario’s decision, a variety of cannabis companies unveiled strategies to make a run at getting retail licenses in the province. One is Second Cup (TSX:SCU), which has a partnership with National Access Cannabis (TSXV:META). On Thursday (August 16), the duo unveiled a plan to apply for a retail license and potentially revamp existing Second Cup locations in Ontario to become Meta Cannabis Supply-branded shops.
“Second Cup has exceptional quality real estate in locations throughout Ontario and we plan to leverage this to provide safe and responsible access to legal cannabis,” Mark Goliger, CEO of National Access Cannabis, said in the release.
Due to the decline and rapid rush following both the Ontario and Constellation Brands announcements, most of the cannabis public sector was turbulent this past trading week. CannTrust Holdings (TSX:TRST) managed to find some stability and gains boosted by its second-quarter results for 2018. The Canadian LP reported a 99-percent rise in its revenue during the quarter.
Following the opening of its 450,000-square-foot Niagara Perpetual Harvest Facility, the company has already started work on the 600,000-square-foot expansion. CannTrust expects the finalized version of its facility to produce 100,000 kilograms of cannabis per year.
Aurora Cannabis (TSX:ACB) is another producer that has started unveiling its retail strategy through a partnership with alcohol retailer Alcanna (TSX:CLIQ). The partnership announced an evaluation is underway for over 100 locations in Ontario to set up Aurora-branded shops.
Don’t forget to look for our coverage of MJBizCon INT’L, with show notes from the floor and exclusive interviews on INN. You can also 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.
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** This article is updated each week. Please scroll to the top for the most recent information**
Cannabis Weekly Round-Up: Aurora Makes Retail Play in Alberta
By Bryan Mc Govern, August 10, 2018
During the past trading week (August 6 to 10), one of the biggest Canadian licensed producers (LP) announced its entry into the retail space in Alberta.
A new market report highlighting the shortfalls of the legal recreational cannabis market in California and market updates complete this Cannabis Weekly Round-Up.
The Investing News Network (INN) reported on Aurora Cannabis’ (TSX:ACB) planned retail presence in Alberta through its partnership with Alcanna (TSX:CLIQ), an alcohol retailer. The two companies will work on the development of 37 cannabis shops in the province following the legalization of adult-use cannabis in Canada on October 17.
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The shops will be branded under the Aurora name and will carry products from the LP and its recent acquisitions, CanniMed Therapeutics and MedReleaf. Aurora has obtained a supply contract with Alberta worth 25,000 kilograms of product during the first six months of sales in the western market.
Alcanna will manage and operate the chain of retail shops, and announced that outside of Alberta it plans to enter each Canadian market as it is allowed.
Alberta Gaming, Liquor and Cannabis (AGLC) says Aurora is allowed to carry Aurora-branded cannabis exclusively; however, the producer is not allowed to buy back all of its supply from the province.
“Any [licensed producers] that become affiliated or have stores that want to carry their products exclusively they can, but they can’t be in the position that they are going to purchase all the product outright,” Heather Holmen, spokesperson for AGLC, told INN.
Eaze, a cannabis delivery company in California, issued a report on the challenges the adult-use market in the state still faces due to the continued presence of illicit options for consumers. The report indicates that one in five Californians polled have bought a black market product in the past three months, despite general satisfaction with legal venues.
The biggest criticisms identified for legal adult-use cannabis shopping were a lack of electronic payments and taxes raising prices above the desired purchasing point.
“Simply stated, California has done a great job of telling consumers that cannabis is legal but has a long way to go in making it easy to get safe, legal and affordable cannabis,” the Eaze report says.
Canadian producer acquires rights for patented drug delivery method
Delta 9 Cannabis (TSXV:NINE) announced a partnership with NanoSphere Health Sciences (CSE:NSHS), a drug company that has developed and patented a new delivery system for cannabis medicines.
The system operates involves applying a lotion that carries a combination of Tetrahydrocannabinol (THC), cannabidiol (CBD) and tetrahydrocannabinolic acid (THCA) through the skin in a way that keeps them concentrated and treats pain better than smoking cannabis.
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David Sutton, president and chief operating officer of NanoSphere, told INN this partnership is key to getting the product approved by Health Canada. Delta 9 holds a strong relationship with the agency having gone through the inspections needed to become an LP.
“The lack of a standardized delivery system has been the single greatest impediment for doctors who would otherwise prescribe cannabis for various medical conditions,” said John Arbuthnot, CEO of Delta 9.
Since the partnership was unveiled on July 31, Delta 9’s share price had risen 7.44 percent as of the closing bell on Thursday (August 9). After enjoying an initial rise, NanoSphere’s share price has declined since the agreement, with the cannabis producer down 11.9 percent and reaching a closing price of C$0.37 on Thursday.
Market updates
Tetra Bio-Pharma (TSXV:TBP), a cannabis company working on the development of its PPP001 drug, announced it has obtained approval for a trial to challenge the effectiveness of opioid drugs compared to its candidate. Health Canada agreed on Thursday to the terms for a new study comparing PPP001 in the management of breakthrough cancer pain.
“We’ve taken a pharmaceutical pathway of drug development involving collaborative dialogue with Health Canada and the FDA to bring cannabis and cannabinoid products to market so that physicians, who have been hesitant to recommend it, will have a new, trusted therapeutic option for their patients,” said Guy Chamberland, interim CEO and chief scientific officer.
Following this announcement, Tetra Bio-Pharma dropped 20.21 percent from its previous close of C$0.94 a day before to C$0.75, representing a C$0.19 loss for shareholders.
Cannabis operator Liberty Health Sciences (CSE:LHS) announced on Tuesday (August 7) that it will be increasing its production capacity for the Florida market thanks to the start of production at its 360 Campus facility in Gainesville.
As part of the expansion, Liberty Health will also set up five new medical centers across the state. All of its delivery hub services will have a turnaround of 24 hours or less across the state.
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.
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Ayurcann Holdings Corp. (CSE: AYUR) (the “Company” or “Ayurcann”) an integrated Canadian extraction company specializing in the processing of cannabis and hemp for the production of oils and various derivative products, announces the granting of stock options and restricted share units.
The Company has announced that it has granted incentive stock options to directors, officers, employees and consultants of the Company to purchase an aggregate of 1,000,100 common shares under the Company’s Stock Option Plan. Each option is exercisable at a price of $0.16 per common share, expires three years from the date of grant and vest six months from the date of the grant.
The Company has also granted restricted share unit grants, pursuant to the Company’s Restricted Share Unit plan, dated April 1, 2021, totaling 1,548,875 to certain eligible participants.
For further information, please contact:
Igal Sudman, Chairman, Chief Executive Officer and Corporate Secretary
Ayurcann Holdings Corp.
Tel: 416-720-6264
Email: igal@xtrx.ca
Investor Relations:
Ryan Bilodeau
Tel: 416-910-1440
Email: ir@ayurcann.com
About Ayurcann Holdings Corp.:
Ayurcann is a leading post-harvest solution provider with a focus on providing and creating custom processes and pharma grade products for the adult use and medical cannabis industry in Canada. Ayurcann is focused on becoming the partner of choice for leading Canadian cannabis brands by providing best-in-class, proprietary services including ethanol extraction, formulation, product development and custom manufacturing.
Neither the Canadian Securities Exchange nor its Regulation Services Provider have reviewed or accept responsibility for the adequacy or accuracy of this release.
News Provided by GlobeNewswire via QuoteMedia
Keep reading to find out more cannabis highlights from the past five days.
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Tilray delays critical shareholder meeting
On Thursday (April 15), Tilray (NASDAQ:TLRY) announced it will be postponing its shareholder vote on the fate of its merger with Aphria (NASDAQ:APHA,TSX:APHA). It will take place on April 30 instead of April 16.
Neither cannabis company offered an explanation for the change. Tilray has asked shareholders to participate in this vote regardless of how many shares they may hold. “Tilray stockholders who have not already voted, or wish to change their vote, are strongly encouraged to do so,” the company said.
This news came days after Aphria shareholders overwhelmingly voted in favor of the business transaction, with a total of 99.38 percent of shareholders voting for the deal to continue. Confirmation from Aphria Chairman and CEO Irwin Simon indicated the partnership was en route to being complete.
This past week Aphria also released financial results for the third quarter of its 2021 fiscal year, in which the firm highlights the overall direction of the company with the Tilray deal.
“We expect to have a tremendous runway for long-term sustainable growth as we build upon our existing foundation in Canada and internationally by increasing the scale of our global operations,” Simon said in a statement.
Cannabis retailer celebrates digital trend
As part of a celebration for April 20, otherwise known as 420, Fire & Flower Holdings (TSX:FAF,OTCQX:FFLWF) announced the dissemination of a non-fungible token (NFT) digital art piece.
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Bidding for the piece, named “Non-Fungible Toke“ started at a price of C$4.20. The retailer plans to donate the proceeds to two charities, Second Harvest and Less.
The latter is designed to counter the carbon footprint of blockchain technology, a common criticism drawn against the rise of NFTs and other novel technologies.
As of 11:00 a.m. EST on Friday (April 16), the NFT bid was up to C$169.11.
Cannabis company news
- The Valens Company (TSX:VLNS,OTCQX:VLNCF) issued its financial report for the first quarter of its 2021 fiscal year. In its results, the company highlights a net revenue uptick of 24.7 percent from the previous quarter, resulting in C$20 million for the period.
- Trulieve Cannabis (CSE:TRUL,OTCQX:TCNNF) closed a public offering of 5 million subordinate voting shares at a price of C$50 each for total gross proceeds of C$287.5 million. The company celebrated its financial position after an offering in January, which will lead to the pursuit of merger and acquisition targets.
- Australis Capital (CSE:AUSA,OTCQB:AUSAF) appointed Jason Dyck as its new chief science officer and chairman of the firm’s scientific advisory board. Dyck previously served as an executive at Aurora Cannabis (NASDAQ:ACB,TSX:ACB), leading the scientific efforts for the cannabis producer. “I look forward to providing AUSA with advice and direction in its scientific efforts towards bringing innovations to market with immediate and significant commercial appeal,” Dyck said.
- Truss Beverage, a cannabis drinks venture co-owned by Molson Coors Beverage Company (NYSE:TAP,TSX:TPX) and HEXO (NYSE:HEXO,TSX:HEXO), released the details of its new lineup of infused beverages. Six new drinks will become available around the summer and are intended to pair with the season.
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.
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Partnerships with Minardi Law , Minorities for Medical Marijuana, CultivatED, and the Georgia Justice Project will include clinics and virtual events across Florida , Georgia , and Massachusetts
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 a series of expungment clinics located throughout south and central Florida as well as virtual events in Georgia and Massachusetts . The clinics are part of the Company’s celebration of the 50 th anniversary of 420.
During the month of April, Minardi Law has hosted expungment clinics and will be hosting two more as follows:
- Releaf Patient Appreciation Day, April 17 th ( Valrico )
- First Annual 4/20 Event ( St. Petersburg Beach )
At these clinics, an attorney will be present to review records and see if someone is eligible for a sealing or expungment of their records. As part of the events, Trulieve will be helping cover the costs for finger prints, legal fees, and court costs.
Trulieve is working with Minorities for Medical Marijuana (“M4MM”) to host a 4/20 Expungement Clinic, part of M4MM’s Project Clean Slate. This event will take place on Saturday, April 24, 2021 , from 9:30am – 4:30pm at Riviera Beach City Hall. Anyone seeking to take place in this event is required to register in advance at http://trulieve.cc/expungementpreregistration .
In addition, Trulieve is sponsoring the First Friday Series , a weekly virtual event from the Georgia Justice Project to help Georgia citizens with record restrictions, and is also sponsoring the Fellowship Presentation and Expungement Clinic being offered through CultivateEd and GBLS on Friday, April 23 from 3:00pm – 4:00pm . You can register for the Massachusetts expungement clinic in advance here: HTTPS://BIT.LY/2Q655KK
“Our mission as a company has always been to improve people’s lives,” said Trulieve CEO Kim Rivers . “We’ve always been dedicated to improving the communities we call home. Partnering with Minardi Law , Minorities for Medical Marijuana, Georgia Justice Project and CultivatED on these clinics was a simple decision for us; we encourage anyone seeking help with the expungement process to attend one of these clinics in your own state to start the process.”
For more information about Trulieve and the April expungment clinics, please visit www.Trulieve.com .
About Trulieve
Trulieve is primarily a vertically integrated “seed-to-sale” company in the U.S. and is the first and largest fully licensed medical cannabis company in the State of Florida . Trulieve cultivates and produces all of its products in-house and distributes those products to Trulieve-branded stores (dispensaries) throughout the State of Florida , as well as directly to patients via home delivery. Trulieve also has operations in California , Massachusetts , Connecticut and Pennsylvania. Trulieve is listed on the Canadian Securities Exchange under the symbol TRUL and trades on the OTCQX market under the symbol TCNNF.
To learn more about Trulieve, visit www.Trulieve.com .
View original content: http://www.prnewswire.com/news-releases/trulieve-announces-expungement-programs-in-several-states-as-part-of-420-celebration-301270340.html
SOURCE Trulieve Cannabis Corp.
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Seth Rogen’s New Cannabis Brand are Now Available at Apothecarium Dispensaries in San Francisco , Berkeley and Capitola
The Apothecarium is offering cannabis from Houseplant, the cannabis lifestyle brand founded by Seth Rogen and Evan Goldberg at its five California dispensaries. The Apothecarium has three San Francisco locations (Castro, SOMA and Marina ) and one each in Berkeley and Capitola (outside of Santa Cruz ).
“With the vast number of dispensaries in California , we put a lot of effort into identifying the right ones that align with Houseplant’s values,” said Seth Rogen , Co-Founder of Houseplant. “The Apothecarium shares the same commitment to creating a strong consumer experience that we pride ourselves on and we are thrilled to bring our three initial strains to their stores in the Bay Area.”
Houseplant is launching with three flower strains, all of which will be available at The Apothecarium, including: Diablo Wind (sativa), Pancake Ice (sativa) and Pink Moon (indica). Like their founder’s groundbreaking film “Pineapple Express”, Houseplant strains are named after weather phenomena. Each strain will be sold in a custom tin.
“We are so proud to be one of the very first dispensaries in California to offer Houseplant to our customers,” said Ryan Hudson , CEO and co-founder of The Apothecarium. “Seth, Evan and everyone at Houseplant love and respect cannabis as much as we do. We simply cannot wait to share their beautiful and delicious flowers with our guests.”
“We’ve been working with the Houseplant team for more than a year and are grateful to have a partner that shares so many of our values, including an emphasis on cannabis education, quality, reform of cannabis laws and beautifully designed, recyclable packaging.”
“Seth has been hands-on during the process, spending time with our store managers to make sure they know the products and how much care has gone into vetting and selecting the best strains. We think our guests are going to love Houseplant.”
About The Apothecarium
The Apothecarium is recognized as one of the nation’s premier cannabis dispensaries, with an emphasis on education via in-depth one-on-one consultations from highly trained cannabis consultants. The company was founded by three first cousins and two family friends in 2011. Our dispensaries are known for providing educational events that are open to the public at no cost — and for welcoming seniors, first-time dispensary visitors, and people with serious medical conditions. The Apothecarium’s flagship San Francisco dispensary was named the best-designed dispensary in the country by Architectural Digest . Patients and customers may order at our dispensaries or online for pickup or delivery at apothecarium.com [apothecarium.com] .
The Apothecarium is committed to giving back to the communities we serve. We have donated more than $400,000 in cash to community groups and nonprofits — plus more than $300,000 worth of in-kind donations.
All Apothecarium dispensaries continue to implement safety measures to protect guests and team members. Protocols include strict social distancing inside and outside the dispensaries, a mask requirement for everyone inside the dispensaries, no contact check-in procedures and ongoing sanitizing throughout the day.
CA Licenses: C10-0000523-LIC; C10-0000522-LIC; C10-0000515-LIC, C10-0000738-LIC, C10-0000706-LIC
View original content: http://www.prnewswire.com/news-releases/houseplant-launches-at-the-apothecariums-california-dispensaries-301270397.html
SOURCE TerrAscend
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(TheNewswire)
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