The Week In Cannabis: A New Global Leader, Moves In UK And Colombia, ETFs Outperform – Yahoo Finance

CURLF) (CSE:CURA)’s acquisition of multi-state operator Grassroots for $875 million in cash and stock. The deal will make Curaleaf the largest cannabis company in the world, as measured by sales.

M&A expert Evan Eneman, CEO of MGO|ELLO Alliance, told Benzinga another move toward consolidation “means that the industry is maturing. M&A is a necessary and positive evolution in the cannabis space, as serious players put skin in the game with significant capital to drive the industry forward.”    

ACRGF) to be the biggest cannabis company in the country.”

https://tinyletter.com/javierhasse” data-reactid=”21″>If you want to get this news recap in your email inbox every week, please subscribe to https://tinyletter.com/javierhasse

legalize adult-use cannabis, following a proposed constitutional amendment, and questions around whether the U.K. will legalize cannabis ahead of the U.S. continued to arise as a new poll showed 77%  of people in the U.K. support the legalization of medical marijuana.” data-reactid=”22″>In international news, Colombian lawmakers continue to move forward with plans to legalize adult-use cannabis, following a proposed constitutional amendment, and questions around whether the U.K. will legalize cannabis ahead of the U.S. continued to arise as a new poll showed 77%  of people in the U.K. support the legalization of medical marijuana.

MPXOF), told Benzinga. “U.K. legalization, be it before or after the U.S., is good news for both the European and global industry as it represents a paradigm shift for the entire continent.”

In domestic political news, U.S. Rep. Justin Amash (Michigan) introduced a bill into Congress, seeking to stop the federal government from interfering with state laws where cannabis has been legalized. The bill is the first proposed by Amash since he announced earlier this month he was leaving the Republican Party to serve in as an independent lawmaker.

Over the last five trading days:

HMLSF) (TSE:HMMJ) gained 2.08%.

MJ) rose 1.26%.

YOLO) was up 2.38%.

THCX) grew 2.46%

SPY) closed the period down 1.16%.

“Havas ECS will alleviate the pressing need for science-based education and guidance by providing modules, seminars and custom consultancy services,” said a spokesperson for the company, which will be led by longtime healthcare communications leader, Rob Dhoble.

Dhoble and his team of subject matter experts will educate the health and wellness community as well as brand leaders in various categories on the scientific functionality of cannabinoids so they can navigate this emerging and exponentially expanding industry clearly.

„There are gaps in information across various industries. As specific to healthcare practitioners, legal risks exist for providers that do not clearly communicate with their cannabis consuming patients, including risks related to unmanaged treatment regimens, drug interactions, and diminished treatment outcomes,” Dhoble told Benzinga.

OGI) released its third-quarter financial report. The company disclosed third-quarter revenue of CA$24.75 million compared to $CA3.4 million in last year’s quarter. This represented sales of around 3,926 kg of dried flower. Organigram reported a quarterly net loss from continuing operations of CA$10.2 million or 7 cents per share on a diluted basis.

ACB) obtained Health Canada licenses for outdoor cannabis cultivation in Canada, and also a processing license for its Aurora Air facility, where the company’s new edible products will be manufactured. The company will use two new sites for cannabis cultivation research, one being located in British Columbia and the other in Quebec.

The company also won the Italian government’s public tender to supply medical marijuana. Aurora was the winner among five companies that participated in the tender. It’s expected the contract will be signed this fall.

Despite the good news, Bank of America’s Christopher Carey downgraded Aurora’s U.S.-listed stock from Buy to Neutral with a price target lowered from $10 to $8. The analyst cited a fast cash burn as his main concern.

MEDIF), a company that specializes in research-driven cannabis extraction and cannabinoid isolation, announced Thursday that is has gained conditional authorization to uplist from the Toronto Venture Exchange to the Toronto Stock Exchange, where it will list under the ticker symbol „LABS.”

KERN) will use its MJ Platform, the first of its kind resource planning software for the industry, in partnership with Leafly. The partnership aims to allow dispensaries to provide automatic updates onto Leafly.com.

NXTTF) reported Q2 results, including consolidated revenue of CA$4million versus CA$4.1 million in the same quarter of 2018. The gross margin for the quarter was unchanged year-over-year at 21%. It ended the quarter with positive working capital of CA$63.3 million.

NEPT) (TSX:NEPT) said it has completed a private placement delivering gross proceeds to the company of $41.4 million.

AGEEF) (NEO: HALO) announced its stock is joining the OTC Market Cannabis Index under the ticker symbol „OTCQXMJ.”

GOLDF) entered a joint venture with Oceana Coffee to produce CBD and terpene-infused coffee products. Bhang will control the production of CBD coffee products under the brand “Röst,” and the terpene coffee products under the brand “Cosmic Terp.” The products are expected to be available in the third quarter of this year.  

“It is extremely important for us to find partners that share our core values and with these product lines, we wanted to ensure the quality we always strive to achieve is met and those coffee drinkers will get the unique, high-quality, artisanal brews they want at an affordable price,” said Bhang CEO and Chairman Scott Van Rixel.

HRVOF) (TSXV:HVT)’s wholly-owned subsidiary, United Greeneries Ltd. signed a supply agreement with 9869247 Canada Limited, also known as „Stevens Green.”

TCNNF) appointed Peter T. Healy to its Board of Directors.

“Homescape Pets is geared towards making all pets' lives a little better and most of all, a lot healthier. That’s why we encourage pet owners to combine our complete line-up of herbal tinctures, in addition to our new CBD300 for the best results for your pet’s specific needs,” explained Co-Founder Marcus Pfeifer.

MDCL) announced that Dye Capital & Company is increasing its investment in the company from $14 million to $21 million.

Justin Dye, Dye Capital Management Partner, is stepping up to serve as Medicine Man Technologies' Chairman of the Board. Dye was a leader in Albertsons Companies as it expanded its transactions to over $40 billion.

CVSI) a supplier and manufacturer of hemp CBD products announced the expansion of its operations with a new production and warehouse facility. Joseph Dowling, CEO of CV Sciences said the facility and capacity expansion will allow the company to meet increased retailer and consumer demand for its products.

DYMEF) said it entered a definitive agreement to acquire select assets from MM Esperanza 2 LLC and MMAC’s 1.83-acre Los Angeles cannabis campus. The acquisition will enable DionyMed to broaden its business operations in Southern California to serve the entire state, according to the company.

NACNF) announced the launch of NACBio, a cannabis intelligence-as-a-service company.

COLXF) will start trading on the OTCQX Best Market.

FLOOF) appointed Kellen O’Keefe as its new Chief Strategy Officer.

CNPOF) released its financial report for the fourth quarter and fiscal year. The company disclosed a net loss of CA$1.83 million for the first three months ended March 31, and a net income of CA$14.59 million for the fiscal year ended March 31. It also reported a diluted loss per share of CA2 cents for the quarter and diluted earnings per share of CA11 cents for the fiscal year.

“We made a commitment to the City of Salinas that we’d offer this type of program that benefits the community, and the industry as a whole,” said Gavin Kogan, Chairman of the Board of Grupo Flor. „We want to create and nurture a professional network of employees through this apprenticeship program.”

MMNFF). This newly created collection includes rolling trays and special storage solutions.

SVVTF)(CSE: TILT) said it has signed a binding term sheet for a private placement of $125 million from a group of institutional investors led by the investment firm UCP.

CNAB) announced it has been contracted to supply a single customer with its hemp-derived CBD isolate oil for 100 weeks. The market value of the contract is from $30 to $42 million, United said.

VREOF) (CSE:VREO), one of the first medical marijuana companies to be licensed in New York, announced the launch of the state’s first same-day marijuana delivery service. Patients living in the New York City metro area, Westchester County and Nassau County will now have access to free, same-day home delivery. This is the first time that medical marijuana will be available to patients in New York via same-day delivery.

“The number isn’t important, but the milestone is real example of the clear need for better, smarter technology on the extraction side of the industry to ensure production can meet the demand for a wide range of cannabis and CBD products beyond traditional flower sales which continue to decline,” said a company spokesperson.

HRVOF) announced it entered into a supply agreement with GenCanna Global USA through its subsidiary Satipharm Ltd.

“We will continue to develop new cultivars, and build a portfolio of safe, tested options for patients because we know that the best genetics will be the ones we develop ourselves,” said CEO Morris Denton.

TGIFF) announced it has obtained both Clark County and Nevada Department of Taxation final approvals for transferring its cultivation licenses to a new facility in Las Vegas.

MMNFF) former SVP of technology joined Acreage Holdings as Chief Information Officer.

Here are some of the most interesting cannabis-related stories from this week.

• An ETF Industry Goliath Could Enter Cannabis ETF Competition

• From Coffee To Cannabis: Colombia’s Choice Between Economic Development And 'CannaMercantilism'

• Symptoms Of U.S. State Medical Cannabis Markets Vary With Saturation Levels

• Greenbox And The Power Of Cannabis-Dispensing Robots

• Meet The Cannabis Extracts Company Giving Farmers 70% Profit On Trim

• JJ O’Brien Of PAX Labs Talks Cannabis Partners, Brand Heritage, E-Cig Lessons

• 'No Error To Correct': Why The High Court Turned Down Alpenglow Botanicals' 280E Petition

• California’s Assembly Bill 97 Is The State’s Latest Attempt To Curtail The Illicit Market

• 6 Cannabis Market Predictions That Are Already Coming True

• 'Algorithms Manage Everything': One Israeli Company’s Mission To Make Marijuana Growing Effortless

• Is The UK About To Legalize Marijuana Ahead Of The US?

• 'Public Opinion Has Changed So Dramatically': How Cannabis Is Shaping The 2020 Presidential Election

• Cannabis: A Big Tent Where All Are Welcome

• A Weed Museum Is Coming To Hollywood

July 28: Susan S. Hwang will host the first Women Grow “Meet and Greet” in Asia on  July 28th, at Kookmin University, 77 Jeongneung-ro, Jeongneung-dong, Seongbuk-gu, in Seoul, South Korea. International cannabis entrepreneurs and prospective stakeholders are invited to attend the historic event which will include a presentation on CBD, Hemp Businesses, and Practical Application. Hwang will lead the discussion alongside Women Grow CEO Dr. Chanda Macias, and National Program Director Parisa Rad.

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