As 2019 continues its course, marijuana investors have been able to take chances on emerging plays in the developing cannabis market.
Marijuana investors have seen mixed performances from stocks during the year and, while the overall sector has taken some hits, there have still been winners in the space.
Read on to view the top cannabis gainers so far this year on the CSE, TSXV and TSX. All stats were current as of June 28, 2019; the CSE and TSXV stocks listed had market caps between C$10 million and C$500 million at that time, while the TSX stocks listed had market caps between C$1 billion and C$15 billion.
The CSE’s top cannabis stocks
1. Captiva Verde Land (CSE:PWR)
This relative newcomer to the marijuana public sector started trading on the CSE in October 2018.
Captiva is a real estate company with investments in various areas, including cannabis operations.
One of its cannabis assets is Solargram, a grower looking to become a bulk cannabis oil provider. It recently applied for a license from Health Canada for a facility based in Moncton, New Brunswick. Captiva acquired this subsidiary in May.
Shares of Captiva have risen 187.5 percent year-to-date to reach C$0.23.
This company has subsidiaries operating in the marijuana market, including growers.
During the second quarter, the company signed a mutual supply and services deal with Zenabis Global (TSX:ZENA). Heritage also highlighted the April acquisition of its subsidiary CannaCure, which has obtained key licenses from Health Canada.
Heritage was the top gaining CSE-listed cannabis stock in Q1 of this year. So far in 2019, shares of Heritage have surged 164.71 percent to C$0.45.
Valens is a cannabis company working with producers to provide extracts for a variety of products.
In Q2, the company managed to tie down or expand extraction agreements with some of the biggest names in the sector, including Tilray (NASDAQ:TLRY), Tantalus Labs and HEXO (NYSEAMERICAN:HEXO,TSX:HEXO).
Valens experienced significant growth during the second quarter. At the end of the period, the firm announced it would uplist to the TSXV, where it now trades.
As of the end of Q2, shares of Valens had increased in value by 162.66 percent year-to-date to hit C$4.15.
The TSXV’s top cannabis stocks
1. SugarBud Craft Growers (TSXV:SUGR)
During the second quarter, SugarBud appointed John Kondrosky, former COO of Zenabis, as CEO to lead its cannabis operations.
In April, SugarBud’s facility in Stavely, Alberta received a confirmation of readiness letter from Health Canada for its cultivation license. If the company obtains its license, it will produce an estimated 9.3 million grams of dried cannabis per year.
Thanks to a surge of 125 percent year-to-date to C$0.18, SugarBud rose to become the top cannabis gainer on the TSXV.
2. EnWave (TSXV:ENW,OTC Pink:NWVCF)
EnWave is a technology company that has centered itself in the cannabis business thanks to its Radiant Energy Vacuum (REV) drying technology for organic materials. It effectively decreases the time from harvest to the sale of cannabis products.
The technology from EnWave attracted one leading firm in the second quarter. EnWave announced a new partnership with Aurora Cannabis (NYSE:ACB,TSX:ACB) to offer the exclusive use of its REV drying technology in the producer’s operations across the globe. As part of the new relationship, Aurora also invested C$10 million in EnWave.
Over a year-to-date period, shares of EnWave have increased in value by 83.08 percent to C$2.38.
Harvest One continued its steady development in Q2 and maintained its position as a top cannabis riser.
During Q2, the company announced that its subsidiary United Greeneries was selected by Shoppers Drug Mart, a Loblaw Companies (TSX:L) subsidiary, as a supplier of medical cannabis for its online store.
“We see this supply agreement as a further step towards fulfilling our vision of being a vertically integrated house of brands in the cannabis health, wellness, and self-care sector,” Grant Froese, CEO of Harvest One, said in a press release.
Shares of Harvest One have surged 67.44 percent over a year-to-date period to C$0.72.
The TSX’s top cannabis stocks
1. Neptune Wellness Solutions (NASDAQ:NEPT,TSX:NEPT)
Neptune is another company with extraction capabilities for cannabis products. The firm also produces cannabis capsules called Licaps.
Shares of the extraction company have risen by 51.6 percent year-to-date to C$5.70.
2. Aurora Cannabis (NYSE:ACB,TSX:ACB)
Aurora Cannabis is one of the leading publicly traded licensed producers in the market. This year, the company has been focused on balancing the demands of its medical patient base and the increasing appetite of the recreational market in Canada.
At the same time, the firm has continued adding to its international exposure with a win for its production tender in Germany in April. The same month, the company purchased the remaining interest for Hempco Food and Fiber (TSXV:HEMP).
Aurora finished the second quarter up 44.71 percent year-to-date at C$10.26.
3. Cronos Group (NASDAQ:CRON,TSX:CRON)
Cronos is a marijuana producer in Canada that secured an investment deal with an established tobacco company this year.
In May, the firm reported a net loss attributable to basic shares of C$1.95 each for Q1. However, revenues increased 15 percent from the previous quarter for a total of C$6.5 million.
Shares of the cannabis producer were up by 36.43 percent year-to-date at the end of Q2 at C$21.01.
Want more details? Check out these articles for more INNdepth coverage.
- Top Canadian Cannabis Stocks Year-to-date – Q1 2019
- Cannabis Investment: Canadian Cannabis Stocks
- Marijuana Stocks to Watch in 2019
- Here’s Why 2019 Top Marijuana Stocks Will Be Different
- Marijuana Stocks by Industry
Want an overview of investing in cannabis stocks? Check Investing in the Cannabis Industry
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.
Editorial Disclosure: Heritage Cannabis Holdings, Harvest One Cannabis and Valens GroWorks are clients of the Investing News Network. This article is not paid-for content.
CanBud Distribution Corporation Closes 2M Second and Final Tranche of its Oversubscribed Private Placement Offering
CanBud Distribution Corporation (CSE: CBDX) (FSE: CD0) (“CanBud” or the “Corporation”) is pleased to announce that it has closed the final tranche of its oversubscribed non-brokered private placement for aggregate gross proceeds of approximately $4,730,000 (the “Offering”).
The Corporation issued a combined total of 39,409,346 units (each a “Unit“) at price of $0.12 per Unit, with each Unit comprised of one common share in the capital of the Corporation (each a “Common Share“) and one common share purchase warrant (each a “Warrant“). Each Warrant entitles the holder to purchase one additional Common Share at an exercise price of $0.22 within 24 months of the closing of the Offering (the “Warrant Term“), provided, however that if the closing price of the Common Shares on the Canadian Securities Exchange (the “CSE“) (or any such other stock exchange in Canada as the Common Shares may trade at the applicable time) is $0.25 or greater per Common Share for a period of five (5) consecutive trading days at any time after the closing date of the Offering, the Corporation may accelerate the Warrant Term such that the Warrants shall expire on the date which is 30 days following the date a press release is issued by the Corporation announcing the reduced warrant terms.
Thoughtful Brands Inc. (CSE:TBI)(FSE:1WZ1)(OTCQB:PEMTF) (the “Company” or “Thoughtful Brands) announces that the letter of intent with Franchise Cannabis Corp. (“FCC”), previously announced in January, has been terminated. The previously announced European joint venture with FCC will continue and allow the Company to launch and tailor its products to European consumer demands
In connection with termination of the merger transaction with FCC, the Company has agreed to pay FCC $100,000 in cash and to issue FCC 5,000,000 common shares of the Company at a deemed value of $0.05 per share. The common shares will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws.
Mergers and acquisitions (M&A) in cannabis space have helped boost the industry to new levels.
Strategic sale of non-core assets by Lobe adds non-dilutive capital and shareholder value
Lobe Sciences Ltd. (CSE: LOBE) (OTC Pink: GTSIF) (“Lobe” or the “Company”) is pleased to announce, further to its press release dated February 23, 2021, that it has completed the sale to Ionic Brands Corp. (“Ionic Brands”) of Lobe’s non-core cannabis assets relating to Washington-based Cowlitz County Cannabis Cultivation Inc. (“Cowlitz”) held by Lobe’s subsidiary vendor, Green Star Biosciences Inc. (the “Transaction”).
Seattle Area Grocery Chain Metropolitan Market to Begin Carrying KOIOS and Fit Soda on March 22, 2021
Adding to its existing presence on the west coast of the United States, all five KOIOS™ flavours and all four Fit Soda™ flavours will be carried in Metropolitan Market stores beginning on Monday, March 22, 2021. Serving the Seattle-Tacoma area (population 3.87 million), Metropolitan Market is one of five chains under its parent firm Good Food Holdings, which has a total of 51 stores in California, Oregon, and Washington State.
Koios Beverage Corp. (CSE: KBEV; OTC: KBEVF) (the “Company” or “Koios”) is pleased to announce that beginning on Monday, March 22, 2021, Koios’ entire line of canned beverage products will be sold at all locations of Metropolitan Market, an urban format supermarket chain in the Seattle-Tacoma area of Washington State. In Q1 2021, the Company announced multiple placements of its beverage products with regional grocers in markets on the west coast of the United States including Market of Choice in Oregon Jensen’s in Southern California and major natural grocery chain Sprouts Farmers Market which has a substantial west coast presence with over one third of its locations (360+ stores across 23 states) in California as well as Washington State 1 . The Company has also recently announced other developments relating to its expansion efforts being undertaken in 2021 such as an in-house beverage canning facility and distribution agreements with regional and national wholesale partners.