As the cannabis public market continues its trailblazing expansion across the US and Canadian markets more and more stocks are coming online for investors to gain exposure into the sector.
Thanks to the legalization process in Canada the cannabis industry has gained even more legitimacy and despite the US remaining an illegal space for the drug, positive momentum is building for an update in the status of cannabis.
Here the Investing News Network (INN) brings a closer look into some of the top cannabis companies that have gone public since May 2018.
FSD Pharma (CSE:HUGE)
FSD Pharma is a cannabis company working on the construction of a new facility in Ontario expected to give the company’s LP subsidiary FV Pharma 200 million grams of dried cannabis flower per year.
“[W]e are committed to cultivating the highest quality cannabis at scale by building out the world’s largest, state of the art, hydroponic cultivation and processing facility,” Thomas Fairfull, President and CEO of FSD said in a statement.
Chuck Rifici CEO of Auxley Cannabis Group (TSXV:XLY), formerly Cannabis Wheaton Income, said the blueprints for the first stage of the FSD facility are now complete. Auxley has served as a streaming partner for FSD.
According to the terms of the deal, FSD will grant 49.9 percent of all cannabis product produced at the new facility in perpetuity. Auxley has provided financial, design and operational support to FSD.
The company launched its public shares on May 29 on the CSE and since then has seen a 25 percent decline to its share value, despite an initial strong response from the market and broken records in terms of daily volumes on the CSE.
On Wednesday the company closed with a share price of C$0.09 and a market cap of C$118.77 million.
Green Thumb Industries (CSE:GTII)
Known as GTI this company is a multi state cannabis operator in the US. The company started trading on Wednesday thanks to a reverse takeover of Bayswater Uranium Corporation and after obtaining approval from the Canadian Securities Exchange (CSE).
GTI operates and oversees the development of its branded retail cannabis dispensaries called RISE. According to a statement the company currently owns seven manufacturing facilities and holds the licenses of 50 retail locations across Nevada, Florida, Massachusetts, Illinois, Ohio and Pennsylvania.
During its first day of trading, shares of the company reached a one-day high of C$9.55. After the closing bell, GTII was valued at C$8.95 per share. In relation to the public launch, GTI was able to raise C$87 million through a brokered and non-brokered private placement.
MedMen Enterprises (CSE:MMEN)
MedMen is a cannabis dispensary operator in the US, with stores across California, Nevada and other legal jurisdictions in the US. The company has established a modern look for its stores with various tablet displays aiding customers.
The stock for MedMen launched on May 29 on the Canadian Securities Exchange (CSE), the de-facto public listing option for US operators, since it doesn’t restrict US assets despite the current status of the drug in the country.
The company also plans to work on a Canadian strategy thanks to a partnership with Canadian licensed producer (LP) Cronos Group (NASDAQ:CRON; TSX:CRON). MedMen will operate retail dispensaries in legal jurisdictions once it obtains clearance from the local government and federal regulations allow its entry.
MedMen came under criticism as part of its public launch due to a C$143 million raise valuing the company at over C$2 billion. The company had also granted CEO Adam Bierman and president Andrew Modlin almost all voting power with each owning one million supervoting shares.
“It’s about Andrew and I making sure that we can continue to make the best decisions for the long term of this company,” Bierman told the Globe and Mail.
Nearly a week after the launch of MedMen’s stock, the company updated the compensation plans for its executive team, another item of criticism for the company.
Now Bierman and Modline will receive their long-term incentive plan units in three sets of thirds: first when MedMen’s subordinate shares reach C$10 in value, then when the price gets to C$15 and finally once the share price is worth C$20. “This modification to the grants under the LTIP was made to provide greater economic alignment with MedMen’s shareholders,” MedMen wrote.
Since its public debut, MedMen has increased in share value by 14.07 percent to reach a closing price of C$4.54 per share on Wednesday (June 13).
The Green Organic Dutchman joined the Toronto Stock Exchange (TSX) on May 2, becoming the eighth cannabis company to be listed on the premier Canadian public exchange.
This cannabis LP entered into a strategic partnership with fellow TSX producer Aurora Cannabis (TSX:ACB) in early May. According to the announcement, Aurora has participated in raising funds for the company and owns a 17.62 percent stake in it as well, with the potential to increase it to majority ownership according to Aurora’s third quarter fiscal 2018 results.
Aurora will also be able to purchase 23,000 kilograms per year of cannabis product from TGOD.
The company is working on the construction of an 820,000 square foot hybrid grow facility. The company projects, once this facility is completed, to hold an overall 116,000 kilograms of production per year.
TGOD has revealed a planned entry into the global beverage industry thanks to the potential of cannabis-infused drinks. “The focus will be to create industry-leading branded products, and to supply organic base ingredients for use in global beverage brands,” TGOD wrote.
Since its launch the company has increased its share price in value by 74.014 percent from its original asking price of C$3.65 per unit to reach a closing price on Wednesday of C$6.11.
Future debuts in the public markets
Recently the Globe and Mail reported private cannabis producer Tilray is exploring the possibility to become a public company.
The unnamed sources for the reporting said the company is evaluating a US exchange to launch its common shares.
“Tilray will need additional capital over time. We have various routes to that – additional rounds of financing, maybe the public markets. We will do the right thing at the right time,” a spokesman for Tilray told the Globe and Mail.
During a conference call to discuss a recent acquisition by MPX Bioceuticals (CSE:MPX), CEO Scott Boyes was asked if he had heard from other US-focused operators coming to the public markets.
“You will see mergers of public companies with large multistate private companies,” Boyes said in response to a question by cannabis analyst with 420 Investor Alan Brochstein. “You may even see mergers of public companies, we’ve seen some consolidation up here north of the border already.
“In terms of companies coming to the public markets I know some of the brokerage houses here in Toronto have just been overwhelmed with the interest they’ve received from US participants about going public in the Canadian market space,” Boyes said.
Trading for Colson shares have been halted and are expected to restart once Province Brands completes the acquisition.
The company is focused on the development of adult beverages, in particular, beer, infused with cannabis through a patent-pending process.
“Province Brands’ mission is to create safer and healthier alternatives to alcohol through a portfolio of products that intoxicate using cannabis, including beer brewed from the cannabis plant rather than barley,” Dooma Wendschuh, CEO of Province Brands said.
Don’t forget to follow us @INN_Cannabis for real-time news updates! Stay tuned to our cannabis channel for more stories from Lift.
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: FSD Pharma and The Green Organic Dutchman are clients of the Investing News Network. This article is not paid-for content.
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.
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
A planned business merger between two leading cannabis producers hit a small delay this week as a critical vote got moved.
Keep reading to find out more cannabis highlights from the past five days.
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
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.
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 .
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 .
SOURCE Trulieve Cannabis Corp.
News Provided by PR Newswire via QuoteMedia
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
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MISSISSAUGA, Ontario TheNewswire – April 16, 2021 Sire Bioscience Inc. (CSE:SIRE) (OTC:BLLXF) (FSE:BR1B) (CNSX:SIRE.CN) (“SIRE” or the “Company”) announces that Brian Nugent has resigned as a member of the Company’s board of directors (the “ Board ”). It has been a pleasure and a blessing to have worked with Brian Nugent over the past few years, his business acumen and tremendous experience will certainly be missed, SIRE wishes him nothing but the best in all his future endeavors.
About Sire Bioscience
SIRE is headquartered in Mississauga, Ontario with its wholly owned subsidiary PLANTFUEL® based in Denver, Colorado. SIRE is managed by a group of successful entrepreneurs who have extensive experience in the areas of consumer-packaged goods, manufacturing, logistics, and distribution. SIRE is a CPG life science company focused on the plant-based foods and supplements industry.
For additional information contact:
Sire Bioscience Inc.
Copyright (c) 2021 TheNewswire – All rights reserved.
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