CGC)’s former CEO Bruce Linton, ousted from his spot earlier this year, said this week he was still buying shares of the company despite his termination. The company’s strong cash position, international footprint and extensive intellectual property library are the main drivers of his bullish thesis.
In a tweet sharing Benzinga’s article about these developments, comedian Sarah Silverman highlighted the company’s social equity program, which provides working opportunities to non-violent cannabis offenders, victims of unfair cannabis laws and racial bias in arrests.
Lowell Herb Co. has launched a social justice program that provides working opportunities to non-violent cannabis offenders, who are often harmed by unfair cannabis laws https://t.co/ce2fYqLBAp
— Sarah Silverman (@SarahKSilverman) August 21, 2019
announced a strategic partnership for cannabis delivery in Canada with ParcelPal Technology Inc. (OTC: PTNYF) (CSE: PKG); and Acabada ProActiveWear launched a line of CBD-infused clothing.” data-reactid=”22″>Greenlane Holdings Inc. (NASDAQ: GNLN) announced a collaboration with Berner’s cannabis brand Cookies to begin U.S. distribution of the Cookies hemp-derived product line; Aphria Inc. (NYSE: APHA) announced a strategic partnership for cannabis delivery in Canada with ParcelPal Technology Inc. (OTC: PTNYF) (CSE: PKG); and Acabada ProActiveWear launched a line of CBD-infused clothing.
Only three days after this announcement, the company completed the export of its first batch of purified cannabidiol from Colombia to Canada for scientific research.
Financial Post reported that at least three senior employees have left CannTrust Holdings Inc. (NYSE: CTST) following its massive licensing scandal.” data-reactid=”25″>The Financial Post reported that at least three senior employees have left CannTrust Holdings Inc. (NYSE: CTST) following its massive licensing scandal.
https://tinyletter.com/javierhasse” data-reactid=”26″>If you want to receive this news recap in your email inbox every week, please subscribe to https://tinyletter.com/javierhasse
The National Institute for Drug Abuse, a federal institution, issued a notice of special interest encouraging grant applications on the „effects of changing cannabis laws and policies in the U.S. and globally on public health.”
Cannabis ETFs delivered considerable losses. Over the last five trading days:
HMLSF) (TSE:HMMJ) lost 6.15%.
MJ) tumbled 5.6%.
YOLO) was down 6.31%.
THCX) lost 6.21%.
CNBS) fell 6.56%.
SPY) closed the period down 1.38%.
In Other News
MMNFF) announced Monday the start of its delivery service across California, allowing consumers to experience the comfort of home delivery.
CURLF) said it has closed the purchase of Glendale Greenhouse, a deal announced at the end of June. The company also said it has begun its initiative with the Veterans Cannabis Project, an organization that campaigns for legal access of medical cannabis for veterans via the Department of Veterans Affairs in Oregon. The Veterans Cannabis Project initiative was launched previously in Maryland, making products accessible in Maryland, Arizona and Maine.
DXBRF) CEO Tripp Keber to its board of directors.
Michigan’s Marijuana Regulatory Agency shut down Iron Labs of Walled Lake after finding the facility did not report marijuana to the state’s tracking system that tested above the legal limit for contaminants.
TRLFF) said Tuesday that it’s launching veterinarian-formulated CBD supplements for dogs that will be presented at the SuperZoo 2019 pet industry trade show in Las Vegas.
HLIX) brought on Garvis Toler III, former global head of capital markets for the NYSE Group, as its president of data services.
MDCL) announced another pending acquisition deal with what it said is one of Colorado’s best-selling edible producers. The company was not named in the announcement.
„This is the classic David and Goliath story,” Medicine Man CEO Andy Williams told Benzinga.
„As others succumb to the massive frenzy of bidding wars for overinflated and overpriced acquisitions occurring within the cannabis market, we have a thoughtful approach that focuses on growing our company with leaders in their respective fields: producers, manufacturers, extractors, and distributors.”
The deal provides a retail distribution channel in nearly 600 dispensaries, allowing for cross-selling of products, according to the company.
„Once HB19-1090 goes into effect in November of this year, we believe our ability to close on this and other acquisitions will begin to accelerate, making us a leader in Colorado, one of the most mature markets in the U.S., and will also enable us to expand globally,” Williams said.
The new parent company, RE Botanicals Inc., combines the industry experience, marketing savvy and retail distribution of the RE Botanicals brand, founded by John Roulac (formerly of Nutiva), with the organic hemp farming and processing facilities of Palmetto Harmony, founded by Janel Ralph, to create a national USDA-certified organic hemp flower-to-bottle operation.
The new parent company RE Botanicals will continue to operate both brands, with a focus on expanding the market share of organic hemp CBD products.
Roulac will remain as CEO of the new RE Botanicals parent company, and Palmetto Harmony’s Ralph will be COO, running a South Carolina growing and manufacturing facility.
Launching this month exclusively in Fleur Marche, Australia’s HEMPLE is bringing its nano-CBD high spectrum hemp extract Stigma to the United States.
The company is working to develop pesticide-free cannabis using protein engineering methods that break down and detoxify organophosphates, a commonly used pesticide. Organophosphates, neurotoxins classified as one of the most hazardous classes of chemicals being used in the agricultural sector by the World Health Organization, are particularly toxic when vaporized and inhaled.
JWN). The company also announced it will open an office in Austin, Texas.
The strategic move to the CSE will allow Ayr to 'increase visibility with the investment community and expand its base of potential investors going forward,” according to CEO Jonathan Sandelman.
TLRY) said Wednesday it signed an agreement with Pharma GmbH (Cannamedical) through its subsidiary Tilray Portugal Unipessoal Lda. for the purpose of exporting $3.3 million in medical cannabis from Portugal to Germany this fall.
The Global Alliance for Cannabis Commerce (GACC), which accounts for more than $1 billion of global cannabis market share, named Rezwan Khan as president.
“Due to the state’s regulatory framework and high taxes, the legal cannabis market is inaccessible to many consumers. We believe all cannabis consumers deserve the right to buy tested and safe cannabis at an affordable price, which is why we are so excited to launch Splitbud in the epicenter of the cannabis industry,” said Alice Moon, Splitbud’s director of communications.
California-based brand ManifestSeven (M7) advanced its B2C strategy with the acquisition of the Orange County dispensary Haven, which previously operated as ShowGrow.
CRLBF) reported its unaudited financial results for the second quarter. Highlights from the report include its revenue rising253% year-over-year to reach $29.9 million, which the company attributed to its expansion into new markets and growth in the states where it already operates.
The company’s second-quarter adjusted EBITDA reached $14.5 million, versus $4.8 million in the same period last year. Cresco Labs disclosed a net loss of $3.9 million for the quarter, compared to a net income of $1.6 million in the same quarter last year.
C3 Industries entered the Michigan cannabis market with the opening of its first “high profile” dispensary in Detroit.
GGBXF) reported Thursday the closing of a bought deal short-form prospectus offering of units of the company for aggregate gross proceeds of CA$50.23 million ($37.7 million).
„We are really excited to be kosher-certified for a number of reasons, the biggest reason being that it adds to the list of dietary specifications our product meets. Whether you’re vegan, gluten-free, kosher or all of the above, you can wholeheartedly enjoy Fruit Slabs,” CEO Roxanne Dennant told Benzinga.
CV Sciences, Inc. announced the further expansion of its PlusCBD™ Oil brand into the specialty retail channel with The Vitamin Shoppe, Inc.
More From Benzinga Cannabis
The following are some of the most interesting cannabis-related stories from this week.
Defying The Odds With A Dream, Some Weed, And A Ton Of Determination: The Inside Scoop On Frank Shamrock” data-reactid=”86″>• Defying The Odds With A Dream, Some Weed, And A Ton Of Determination: The Inside Scoop On Frank Shamrock
• 'Data Is Key’: MNP’s Glenn Fraser Discusses Cannabis Consulting In A Newly Legal Market
• Do People Move To Access Legal Marijuana? Yes — Meet 'Medical Refugees’
• Cannabis And Crohn’s Disease
• Researchers Unlock What Gives Cannabis Its Anti-Inflammatory Qualities
• Former MLB All-Star Shane Victorino Talks Plans To Give Back To Hawaii Through New Cannabis Venture
• Payment Processing, Banking Issues Continue To Hinder Small CBD Brands
• Is Weed The New Beer? 3 Key Stats Give Us An Idea
• 'THC Used To Be The Hero, Now It’s CBD’: A Chat With Hollywood Actor Turned Cannabis Entrepreneur Derek DuChesne
• Gerald Butt’s Tweet On Canadian Cannabis Numbers Might Be Far-Fetched
• Cannabinoids Could Help Treat OCD, Researchers Suggest
• Muisca Capital Group’s Carol Ortega On Why Cannabis Could Outgrow Colombia’s Coffee, Flower And Banana Industries
• Black Dog LED, A Major Cannabis Lighting Provider, Has Plans For 'All Corners Of The Grow Operation’
This year’s conference covers a wide selection of topics, including genomics, informatics, medical cannabis, testing and hemp science. It brings together a diverse group of people including laboratory personnel, medical professionals, entrepreneurs, patients, plant experts and scientists.
Organized by the group behind the CannaTech series of global cannabis conferences, iCAN Connect is designed for qualified individual and institutional investors or their representatives looking for international medical or recreational cannabis investment opportunities.
The two-day event offers panel discussions, a product and service expo, a closing night performance, awards show and after-party with a performance by hip hop artist Cypress Hill.
The event will host Malta’s top policymakers, international regulatory experts and global business leaders.