The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) is pleased to announce that it has successfully completed an initial public offering (the “Offering”) of 31,510,000 units (the “Units”) of the Company at a price of $3.65 per Unit for total gross proceeds of $115,011,500. Each Unit consists of one common share (a “Common Share”) and one-half of one common share purchase warrant (each whole warrant being a “Warrant”). Each Warrant is exercisable into one Common Share at the price of $7.00 per Common Share until for a period of two years from today, subject to an acceleration right whereby the Company may provide written notice to the registered holders of the Warrants (a “Warrant Acceleration Notice”) that the expiry time of the Warrants shall be accelerated to a date which is 30 days after the date of such Warrant Acceleration Notice, if, at any time, the volume-weighted average trading price for the Common Shares is equal to or great than $9.00 for any ten (10) consecutive trading day period.
The Common Shares as well as the common share purchase warrants it issued pursuant to a warrant indenture dated November 1, 2017 (the “November Warrants”) will begin trading today under the trading symbols “TGOD” (TSX:TGOD) and “TGOD.WT” (TSX:TGOD.WT), respectively, on the Toronto Stock Exchange (“TSX”).
TGOD opened the TSX this morning at $3.73 per share. The stock dipped briefly after the open then bounced hard and soared for the rest of the morning and early afternoon. TGOD hit a high of $4.25 per share just before 2pm est. The stock gave back a few points before the close with the day traders exiting and collecting a nice profit. TGOD officially closed their first day of trading at $3.89 per share, up 8.1% with a massive 12.8m shares changing hands. All in all a solid first day of trading.
Aurora Cannabis Inc. (TSX: ACB) (OTCQB: ACBFF) (Frankfurt: 21P; WKN: A1C4WM), today announced the Company is participating in the IPO of The Green Organic Dutchman (“TGOD”) (TSX: TGOD), purchasing 17.5% of the IPO issue, or 6.3 million units, priced at $3.65 per unit, for a total investment of $23.1 million. Each unit consists of one common share and one half of one common share purchase warrant exercisable at $7.00 per common share.
The investment follows an earlier strategic investment completed in January 2018, and upon completion, Aurora will hold a total of 39.7 million common shares. The Company furthermore owns 16.7 million share purchase warrants exercisable at $3.00, and will add a further 3.2 million share purchase warrants exercisable at $7.00 per share. This reflects an ownership interest of 17.6% on an undiluted basis. Aurora has an option to increase its ownership to over 50% in relation to TGOD achieving certain operational and financial milestones.
Aurora Cannabis Inc. (TSX: ACB) (OTCQB: ACBFF) (Frankfurt: 21P; WKN: A1C4WM) and CanniMed Therapeutics Inc. (TSX:CMED) (“CanniMed“) today announced that Aurora has completed the acquisition of all issued and outstanding shares of CanniMed Therapeutics Inc. (“CanniMed”) that it did not already own.
“We have now fully completed the largest acquisition in the history of the cannabis sector and continue to progress well with our integration activities to accelerate growth of both Aurora and CanniMed,” said Terry Booth. “CanniMed, which will operate as a wholly-owned subsidiary of Aurora, will be spearheading a number of initiatives such as scientific research, education and product development. The capabilities and reputation of the CanniMed team in the medical market are very strong, which we will leverage to further grow our penetration of this rapidly growing segment of the international cannabis market.”
Shares of ACB closed trading today at $7.95 per share, up 0.9% with over 16.5m shares traded. The stock seems to be putting in a bottom at these levels after bouncing sharply off the $7 mark twice in 2018. The stock looks to be coiling up a bit so a large move in either direction is highly possible.
Emerald Health Therapeutics, Inc. (TSXV: EMH) (OTCQX: EMHTF) (Frankfurt:TBD) announced today that it has acquired (the “Acquisition”) all of the issued and outstanding securities of 8611165 Canada Inc., an Access to Cannabis for Medical Purposes Regulations (ACMPR) Licensed Producer located in Saint-Eustache, Québec, and its affiliate 9353-8460 Québec Inc. (together, “Agro-Biotech”). Agro-Biotech’s assets include a Health Canada cultivation license, land, and 75,000 sq. ft. purpose-built facility. The Acquisition enhances this local startup’s resources to serve Québec consumers with high-quality cannabis products in the anticipated legalized adult-use market, and further strengthens Emerald’s ability to market throughout eastern Canada and nationwide.
This indoor hydroponic growing facility, which has access to very low-cost energy and water, will be capable of high-yielding production of Emerald’s unique cannabis strains, several of which are currently being grown in Agro-Biotech’s facility. Agro-Biotech’s extensive experience in cannabis cultivation complements Emerald’s downstream product development focus, which is backed by its depth of pharmaceutical industry R&D and clinical development expertise, and extensive consumer packaged goods and alcohol beverage marketing experience.
EMH saw its stock drop 1.5% today and closed trading at $4.56 per share with nearly 700k shares traded. EMH has a similar chart to most of the other large LPs. Along with its peers, EMH seems to be putting in a bottom as well. With the range getting tighter a strong move in either direction is possible.
Namaste Technologies Inc. (TSXV: N) (FRA: M5BQ) (OTCMKTS: NXTTF) is pleased to announce that on May 1, 2018 the Company executed a definitive agreement to acquire (the “Acquisition”) all of the issued and outstanding shares of Findify AB (a Swedish corporation, “Findify”), for a purchase price of US $12,000,000 in a combination of cash and common shares of the Company. Findify is a global leader in A.I. powered e-commerce personalization, delivering solutions such as personalized search, recommendations, and advanced data analytics. Among its customers are Nine West, PLV Shoes, and Rocketdog.
Management expects the integration of Findify’s proprietary technology to increase monetization and propel revenue growth in both cannabis and hardware sales. In addition to anticipated growth in Namaste’s core business, the Company will allocate resources to expand on Findify’s existing platform and expects this to result in increased EBITDA by the end of 2019. Namaste also anticipates accelerating patient growth through its wholly owned subsidiary and Canada’s first fully-compliant online patient portal, NamasteMD Inc. (“NamasteMD” or “NamasteMD.com”). By implementing Findify’s technology in applications of patient acquisition, conversion rates, order value and customer retention, the Company expects to reach 50,000 medical cannabis patients by the end of 2018 and up to 100,000 by the end of 2019.
N‘s shares remained mostly flat today closing the day up 0.6% at $1.61 per share on volume of 1.88m. N has been in consolidation mode for the past 3 months and has built strong support at the $1.50 mark. Whenever the price drops to this support it seems to make for an attractive entry. Past performance doesn’t always indicate future performance but in the case of N, the $1.50 mark has produced winning trades multiple times in a row.
Isodiol International Inc. (CSE: ISOL) (OTC: ISOLF) (FSE: LB6A.F), a global CBD innovator specializing in the development of pharmaceutical and health and wellness products (and now supporting the pharmaceutical industry at large with its recently approved CBD as an Active Pharmaceutical Ingredient), is pleased to announce that it has entered into a binding agreement to acquire 51% of Farmtiva LLC (“Farmtiva”), a cultivator of hemp with operations in California that provides hemp farming and distribution support for farmers and other industry participants.
Farmtiva has an exclusive partnership agreement with the not-for-profit group, Imperial Valley Conservation Research Center (“IVCRC”), and together they anticipate planting the first California hemp crop within the next three weeks. This project will be a first in California for hemp legally grown under the Agricultural Act of 2014 § 7606 (“2014 Farm Bill”) in California. As an “established agricultural research institution,” under Food and Agricultural Code (FAC) Section 81000, the project is exempt from registration and may currently grow industrial hemp in California.
Shares of ISOL performed well today gaining 2.4%. The stock closed trading today at $0.85 per share with over 3.7m shares changing hands. The common theme lately with many of the Canadian Cannabis stocks has been trying to find a bottom. ISOL is no different. In the past month ISOL has bounced nicely off the $0.75 level multiple times creating decent support in the process. It will be interesting to see which direction the stock heads from here.
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