June saw the confirmation of Bill C-45 in the Canadian cannabis market, a landmark event anticipated by investors in the space. Canadian Prime Minister confirmed the act will officially become the law in Canada starting on October 17. The delay in the start of adult-use sales, originally predicted around September, is due to a request for more time from the provinces and territories before the start of legal sales.
Many experts had predicted and the overall market had warmed to the idea of another rush for cannabis stocks once the date for legalization was given.
Russell Stanley, an analyst with Echelon Wealth told the Investing News Network (INN) he foresaw the sentiment for these stocks would get better once the recreational sales kicked-off.
During the month of June it was revealed Tilray, a private licensed cannabis producer will finally make its public debut this year. The company announced it is seeking an initial public offering (IPO) on the NASDAQ Global Select Market with the ticker symbol “TLRY.”
Horizons ETFs Management unveiled its proposal for the launch of three new cannabis exchange-traded funds (ETFs), which will be inverse ETFs. Steve Hawkins, president and co-CEO of Horizons ETFs said if used appropriately “inverse marijuana ETFs could be a potentially more liquid and easier way for investors to get short exposure to Canadian-listed marijuana stocks while limiting their risk to what they invested.”
The three new ETFs will use the Solactive Canadian Marijuana Companies Index as a measuring point of comparison for their daily performance.
ICBC event recap
Also during the month, INN had the chance to cover the Vancouver edition of the International Cannabis Business Conference (ICBC). Investors can read a full recap of the event and panels of importance to the public markets.
INN also interviewed Nic Easley, CEO of 3C Consulting and a managing partner with Multiverse Capital, who shared some of his opinions on the overall market and explain the rational behind his bubble prediction for the Canadian cannabis public market.
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.
American cannabis sales hit US$17.5 billion in 2020, a research group’s new study shows.
Meanwhile, a Canadian cannabis producer began offering CBD beverages in the US, another move that shows how interested Canadians are in the overall US cannabis market at the moment.
Some pretty important news out of health and wellness; beverage and natural products company BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF, FSE:7BC) this week. For those of you following the Company with us, stay tuned.
As investors continue to prioritize cannabis opportunities in the US, market watchers expect mergers and acquisitions (M&A) to play a role in the future for Canadian companies.
A consolidation trend has been expected in the Canadian cannabis space for some time now based on the size of the market compared to the number of operations in the country.
BioHarvest Sciences Inc. Unveils the Unique Polyphenolic Content of Its Upcoming Olive-Based Nutraceutical
The product will include polyphenols known to have significant health benefits.
BioHarvest Sciences Inc. (CSE: BHSC) (“BioHarvest” or the “Company”) has reached an important milestone in its development program of additional Nutraceuticals. The olive-based Nutraceutical product scheduled for market availability in the second half of 2022 will contain the following unique matrix of polyphenols: hydroxytyrosol, trosol, and verbascoside. These compounds are the major polyphenols in naturally grown olives and are responsible for the high antioxidant activity of olives and olive oil. Importantly, the BioHarvest olive-based Nutraceutical product will provide all the benefits of olives and olive oil with a low calorie count per serving.
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 that it will report financial results for the fourth quarter and full year ended December 31 st , 2020 on Thursday March 25 th , 2021 before the market opens.
The Company will host a conference call and webcast to discuss its financial results and provide investors with key business highlights on Thursday March 25 th , 2021 at 8:30am Eastern Time (7:30am Central Time).