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Canopy Growth (WEED.TO) (TWMJF) is surging higher after Constellation Brands (STZ: NYSE) acquired 9% of the Canadian licensed cannabis producer for $245 million (CAD).
This purchase was completed at a premium to Canopy’s closing price on Friday and the transaction is expected to close during the third quarter of fiscal 2018. Canopy sold 18.9 million shares at $12.9783 per share and will the proceeds to fund its international expansion program.
Emblem Corp. (EMC.V) (EMMBF), one of Canada’s leading federally-licensed cannabis producers, is pleased to announce the appointment of Nick Dean as the Company’s new Chief Executive Officer effective no later than January 15, 2018, subject to TSX Venture Exchange approval. Mr. Dean succeeds Gordon H. Fox, who has been with the Company since its inception.
GW Pharmaceuticals plc (GWPH) continues to deliver...
Today, GW along with its subsidiary Greenwich Biosciences, completed the rolling submission of a New Drug Application (NDA) to the FDA for Epidiolex as adjunctive treatment of seizures associated with Lennox-Gastaut syndrome (LGS) and Dravet syndrome, two highly treatment-resistant forms of childhood-onset epilepsy.
Constellation Brands (NYSE:STZ) (NYSE:STZ.B), a leading beverage alcohol company, today announced that it has signed an agreement to acquire a minority stake in Ontario, Canada-based Canopy Growth Corporation, a well-respected public company and leading provider of medicinal cannabis products.
Invictus MD Strategies Corp. (IMH>V) (IVITF) through its interests in two ACMP license holders, its wholly-owned subsidiary Acreage Pharms Ltd. and its one-third interest in AB Laboratories Inc., expects to have production capacity of 6,000 kg commencing January 2018, several months before Canada expects cannabis to become recreationally legal. Total current production capacity at both locations is approximately 1,500 kg.
License Capacity and Term
Trading in Aurora Cannabis (ACB.TO) (ACBFF) has been halted ahead of the market opening this morning and many investors are keeping an eye on what comes next.
Over the last year, Aurora has made some significant announcements and investments so it is not surprising that this halt is exciting.
An International Play with a War Chest of Cash
Canadian cannabis stocks have come off their October highs and we are monitoring this pullback as trading volume has weakened significantly.
Trading volume is an important technical indicator an investor uses for trend analysis. Trading volume can help an investor identify momentum in a stock and confirm a trend. If trading volume increases, prices generally move in the same direction.
Emerald Health Therapeutics Inc. (EMH.V) (EMHTF) announced today that it has signed a definitive agreement with Northern Vine Canada Inc. and Abattis Bioceuticals Corp. (ATT.CN) (ATTBF) to invest $2.5 million into Northern Vine to acquire 53% of the company and appoint three of its four directors. Abattis will continue to hold the remaining 47% of Northern Vine.
About the Agreement
From Canada to Germany, the legal cannabis market continues to be one of the most attractive investment opportunities.
The legalization trend throughout the world has created significant opportunities for companies levered to the growth of this industry and we highlighted five companies that are leading this charge.
Five Cannabis Firms Leading the Global Movement
The last few months have been very busy for CNRP Mining (CND.CN) (CRPGF) and today all this hard work has paid off after the company announced the signing of a definitive agreement to acquire X-Sprays.
This acquisition was initially reported in late July and since then, the company has executed on its initiatives and significantly strengthen its balance sheet by closing a $3 million non-brokered private placement.
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