It was a mixed bag in the cannabis-related news world this week.
sought to make it easier for scientists to study Schedule I controlled substances like psilocybin – found in mushrooms, MDMA and cannabis.” data-reactid=”19″>Colorado announced that since the state legalized adult-use cannabis sales in 2014, $1 billion worth of marijuana were sold, while Oregon’s Congress passed a bill that would allow it to trade cannabis with other consenting states. In Canada, a committee in the House of Commons called for the decriminalization of the possession of small amounts of drugs, while the U.S. House of Representatives rejected an amendment that Rep. Alexandria Ocasio-Cortez (D-NY) had introduced, which sought to make it easier for scientists to study Schedule I controlled substances like psilocybin – found in mushrooms, MDMA and cannabis.
Steve DeAngelo, start trading on the Canadian Securities Exchange and Kroger Co (NYSE: KR) announce it would start selling CBD products in its stores in 17 states. The Church of England said its £8.3 billion ($10.5 billion) Church Commissioners for England fund would start investing in cannabis, cannabis CPG company Coda Signature closed a $24.4 million Series A funding round, and Medicine Man Technologies, Inc. (OTC: MDCL) announced the acquisition of Colombian company Green Equity S.A.S. – marking its third deal this month.” data-reactid=”20″>We saw Harborside, the iconic cannabis brand founded by activist Steve DeAngelo, start trading on the Canadian Securities Exchange and Kroger Co (NYSE: KR) announce it would start selling CBD products in its stores in 17 states. The Church of England said its £8.3 billion ($10.5 billion) Church Commissioners for England fund would start investing in cannabis, cannabis CPG company Coda Signature closed a $24.4 million Series A funding round, and Medicine Man Technologies, Inc. (OTC: MDCL) announced the acquisition of Colombian company Green Equity S.A.S. – marking its third deal this month.
Commenting on Harborside’s IPO, Debra Borchardt, CEO of Green Market Report, told Benzinga this is “a sign of how far the cannabis industry has come… From his early days as a member of the Yippies, which fought for legalization in the 60’s, to being one of the first dispensary owners in California, Steve DeAngelo has always been on the front lines. It’s exciting to see a cannabis company with real revenue and strong leaders hitting the public markets.”
Over the last five trading days:
HMLSF) (TSE:HMMJ) lost 3.8%.
MJ) tumbled 2.8%.
YOLO) slipped 4.5%.
SPY) closed the period up 0.56%.
Here are some of the top marijuana stocks (market cap above $500 million) in U.S. exchanges and how the performed over the last five trading days:
ACRZF): up 4.1%
APHA): down 6.6%
ACB): down 1.05%
CTST): down 4.8%
CGC): down 2.4%
CRON): down 3.1%
CURLF): down 14.35%
GGBXF): down 4.3%
TGODF): down 10.8%
GTBIF): down 13.8%
GWPH): down 0.5%
HEXO): down 12.75%
HRVSF): down 8.1%
ITHUF): down 20.3%
MRMD): down 26.8%
MMNFF): down 8.45%
OGI): down 13.6%
SMG): up 2.7%
TLRY): up 0.5%
GNLN) reached an exclusive CBD distribution agreement that makes Bloom Farms’ premium CBD products available to thousands of smoke and vape shops across the U.S. The line will initially feature three tinctures and a selection of 19 vaporization products.
“We knew that the distributor we chose would be the face of our brand to thousands of retailers, so we wanted to partner with someone who understands that all CBD isn’t created equal. Greenlane was the natural choice. They know our uncut oil makes a difference, are focused on hand-picked brands, and are true professionals,” Sallyann Nichols, President of Bloom Farms CBD, told Benzinga.
Following Medicine Man Technologies’ Colombia announcement, Andy Williams, co-founder and CEO of Medicine Man Technologies, told Benzinga “this pending acquisition will provide us with the means to begin our strategic international expansion plan. We will have access to international licenses and intellectual property that will further enhance our cultivation, manufacturing, extraction, exportation and research and development.”
IGC) announced its application for the cultivation and harvesting of hemp was approved by Arizona’s Department of Agriculture under the terms of its industrial hemp program. Full story here.
“The $10 million dollars that were raised by private investors through Sparx Cannabis’ Series A funding round is a monumental step forward for our next-generation mom and pop cannabis company,” said Dr. Jared Helfant, Co-founder and President of Sparx Cannabis.
VGWCF) expanded its multiyear agreement with Tilray. The agreement adds to the volume of extraction services Valens will provide to Tilray and adds an option for Valens to offer contract manufacturing as well, Valens said in a Monday press release. Full story here.
Nicholas DiPatrizio, the grant’s principal investigator, will use a mouse model to understand how cannabis affects glucose homeostasis, which is dysregulated in type-2 diabetes. Paradoxically, some people who have used cannabis for several years have shown improvements in some of their metabolic parameters as well as lower body weights when compared to non-users. The DiPatrizio lab will explore this paradox.
“We’re only getting started in answering some important questions related to cannabis and the effect its short-term and long-term use has on metabolic health,” DiPatrizio said. The grant is the first cannabis grant received at UC Riverside.
ORHOF) is a cannabis products and brands company with a focus on becoming a preeminent global house of cannabis brands.
NEPT). Full story here.
Bank of America’s Christopher Carey reitereated a Buy rating on Hexo following the company’s Q3 results. Full story here.
“With the ubiquitous marketing of CBD-infused everything and so many products flooding the marketplace, consumers find themselves in a quandary about CBD’s source, quality or effectiveness. Our goal is to be accurate and informative, playful and fun; to let people know CBD can be good for their health, wellness and beauty,” said Richard Carey, Atlantic WeedBoard co-founder. “We’re offering six channels of video that set the record straight one story at a time, and a curated selection of CBD products we have used ourselves and can vouch for.”
CVSI) announced a CBD supply deal with Kroger. Full story here.
Former hedge fund manager Whitney Tilson joined Benzinga’s PreMarket Prep morning show and discussed the difference between speculating in cryptocurrencies and speculating in cannabis stocks. Tilson said cannabis legalization is a real long-term trend that’s happening around the world, and hot cannabis stocks will make for potentially smart long-term investments. Unfortunately, he said their current valuations make them uninvestable at the moment. Full story here.
Tilray reached an agreement with its largest stockholder Privateer Holdings to extend a lockup period by two years. Full story here.
“The construction of this facility solidifies our commitment to become the leading low-cost, high-quality cannabis producer in the world,” said Darryl Jones, President and CEO, Isracann. “Israel’s perfect weather conditions allowing multiple growing cycles, and the recently announced regulatory changes granting product export from Israel, will give Isracann the opportunity to build an enterprise aimed at both the domestic and underserved European consumer markets. ”
Global X, one of the largest purveyors of thematic exchange traded funds, is looking to add that lineup with a cannabis ETF. Full story here.
ZYNE) received a new U.S. patent for one of its cannabis-focused treatments. Full story here.
“MINERAL remains insatiable for efficacy. We’re committed to planting the seed before we extract the oil, giving ourselves and, therefore our community, full transparency from seed to extraction,” Miller told Benzinga. “Through our partnership Margot Masinter (the farmer) and Doodle Farms (the farm) we are well on our way to vertical integration, growing hemp to better the people and the earth we all inhabit.”
“I’ve been using CBD as a part of my training for some time,” said Ortega, “I consider Ignite the best brand in the game right now, so of course I jumped at the chance to join the team!”
“This partnership is a significant endorsement of Rubicon Organics’ IP growing techniques as Cookies only aligns with companies who can deliver against a consistent high level of quality. We are proud to provide super-premium organic cannabis to Cookies and the Washington market this fall,” said Jesse McConnell, Founder and Chief Executive Officer. It’s obvious that Rubicon is building a highly esteemed portfolio of brands that when paired with its proprietary cultivation methodologies is well on its way to becoming a pillar in the North American cannabis industry.
“CBD Capital Group is proud to announce the acquisition of Medix CBD. While the entire CBD industry holds immense potential, Medix CBD shows several strengths that set it apart from other CBD retailers including profitability and the company’s unique SEO model,” said CBD Capital Group Co-Founder and CEO David Metzler. „We are able to provide Medix CBD with capital and our team’s business expertise and look forward to growing alongside the company.”
“Education before medication is our mission,” said Dolce. “Our courses enable individuals and providers to make informed treatment decisions.”
MJNA) reached a major milestone for long-term stability testing on its flagship THC-free cannabidiol (CBD) oil product Real Scientific Hemp Oil-X (RSHO-X). The stability study was conducted in strict compliance with FDA/ICH guidelines (Q1A-R2).
The results from the study provide evidence that RSHO-X has a shelf-life of at least 12 months in a variety of extreme climate conditions. This helps the company ensure that the integrity of the product will not be compromised while in transportation or while being stored for future use.
“Our company set the standards for many CBD testing protocols in the U.S. and, with this study, intends to continue doing so. Our customers rely on the quality, potency and safety of RSHO-X, which has been tested in two successful pilot clinical studies,” said Medical Marijuana, Inc. CEO Dr. Stuart Titus.
VFRM) announced its topical products will be featured nationwide in 945 Kroger Family of Stores.
“Pet owners want high-quality, all-natural options to maintain their pets’ health,” said Chelsea Gennings, Co-founder and Vice President of Pet Releaf. “Through our partnership with Generation Pet we are delivering on that demand.”
Here are some of the most interesting cannabis-related stories from this week.
• 'Cannabis As A Force For Good’: 2 Massive Cannabis Companies And Their Pride Month Initiatives
• How One Cannabis Company Drastically Reduced Plastic Waste By Childproofing Its Vapes
• Be Kind, Please Unwind: Why Would Anyone Buy CBD From A Video Store?
• MediaJel Acquires Potnt Agency, Adds Merida Capital’s Thomas Harrison As Chairman
• How Cannabis Can Help Older Generations Work Longer And Boost Their Well-Being
• Will Testing Potential Employees For Marijuana Become A Thing Of The Past?
• Did Canada Blow Its Chance To Be The World Cannabis Leader?
• Canada To Begin Sale Of Legal Cannabis Edibles In Mid-December
• YouTube’s Account Purges Spark A Cannabis Content Alternative
• Bulls And Bud Of The Week: Halo Labs And 6 Things To Do In Illinois When Cannabis Becomes Legal
• 6 Reasons Why The Cannabis Industry Should Join The Cashless Revolution
• Analyst: Trump Could Push Cannabis Legalization In 2020
• How Cannabis Leaders Can Support Pride Month With A Lifelong Inclusion Mission
• 'We’re Trying To Be Smart About It’: New Canopy Growth CFO Says Cannabis Company Eyeing Financing Options
“I look forward to sharing my knowledge and experience in the lifestyle space with this tailored audience,” says Stewart. “As I begin to collaborate on products for the CBD market, and as the demand for these types of product grows, I’m very interested in the conversations and connections at this event.”
Stewart will be joining Riedle and Founder, Chairman and Co-CEO of Canopy Growth Bruce Linton on stage in a fireside chat to close the conference. Leading retail pharmacy chain Shoppers Drug Mart will join the event as the third keynote speaker.
„Shoppers Drug Mart is a mainstream retail titan and yet another proof point as to where this industry is headed,” says Derek Riedle, Publisher of Civilized. „At last year’s World Cannabis Congress, we spent a lot of time discussing where we hoped the industry would go in a post-legalization landscape, and here we are. Less than a year later, we’re working with the world’s top brands to bring cannabis to consumers.”
June 27: entOURage Network will be hosting an ‘Investing in Women’ workshop as part of European Cannabis Week in London, U.K. An all-female list of speakers will bring industry experts to the U.K. cannabis community and highlight the importance of women in the space. The event will cover three tracks: Female Investors, Female Entrepreneurs, Companies focused on the female demographic. There will be CBD canapés served alongside terpene-infused champagne during the networking reception.
entOURage Network is a U.K., and E.U., based organization cultivating a space for women to come together, explore and engage the legal cannabis market. They believe in women supporting women because „we are stronger together.”