Marijuana Stocks: Monday News Recap

Organigram Holdings Inc. (TSXV: OGI) (OTCQB: OGRMF) (the “Company” or “Organigram”), a leading licensed producer of medical marijuana based in Moncton, New Brunswick, is pleased to announce its support for the first-ever World Cannabis Congress. The event, happening in Saint John, New Brunswick from June 10 – 12, 2018, will connect cannabis industry leaders from around the globe, to share insights and foster relationships that may help shape and advance the rapidly growing industry.

“We are thrilled to invest in and support this new, exciting event right in our own backyard,” says Organigram Chief Commercial Officer, Ray Gracewood. “We’re privileged to operate in New Brunswick and help promote the province as a leader in the cannabis industry, not just in Canada, but around the globe. Other nations are looking to Canada right now – especially New Brunswick – as the example for recreational legalization and a progressive medical cannabis system. This summit will provide a wonderful opportunity to celebrate our culture of innovation on a world stage.”

Shares of OGI traded down 3.47% today with roughly 3m shares changing hands. Most of the major Canadian cannabis stocks have been cooling off as of late after tremendous run to start 2018.

mCig, Inc. (OTC:MCIG), an innovative biotech company, which focuses on cannabis-industrial hemp, cannabinoid research, and development, nutraceuticals and pharmaceuticals, today has announced plans to launch an innovatively advanced hemp CBD-based formula for pets. Doctor of Bioengineering and Cardiology at Mt. Sinai Medical Center, Arkady Uryash, will be leading this new initiative in the rapidly expanding sixty-billion-dollar CBD pet industry market.

“CBD-based pet products are seeing heightened demand across the globe. Trial studies have shown that CBD oils can help reduce anxiety, inflammation, and chronic pain while boosting the pet’s immune system,” Says Arkady Uryash, MD, Ph.D. at Biomedical Research Institute, Mt Sinai Medical Center. “Results have demonstrated rapid positive results in improving condition of pets suffering from these ailments, which is one of the many reasons pet owners are eager to obtain CBD wellness products supported by science and from reputable and trustworthy companies.”

MCIG ended today’s trading session down 0.10% at $0.29 per share with 1.85m shares traded. After a huge run to finish 2017 the stock has been in a tight consolidation indication a large move in either direction could be in store.

GW Pharmaceuticals plc (Nasdaq: GWPH) (“GW” or “the Company”), a biopharmaceutical company focused on discovering, developing and commercializing novel therapeutics from its proprietary cannabinoid product platform, will announce on 5 February, 2018 its first quarter financial results for the period ending 31 December, 2017. GW will also host a conference call the same day at 4:30 p.m. EST. Conference call information will be provided in the financial results press release. A replay of the call will also be available through the Company’s website (www.gwpharm.com) shortly after the call.

GWPH traded just off its all time high closing trading today at $139.66 on volume of 271k. Pending Q1 financials could serve as a major catalyst to propel the stock higher.

Aphria Inc. (“Aphria” or the “Company”) (TSX: APH) (OTC: APHQF) and Nuuvera Inc. (“Nuuvera”) (TSXV: NUU), a leading, global cannabis company with a strong presence in Europe, Africa and the Middle East, are pleased to announce that they have entered into a definitive arrangement agreement (the “Arrangement Agreement”) pursuant to which Aphria will acquire, by way of a court-approved plan of arrangement under the Business Corporations Act (Ontario) (the “Transaction”) 100% of the issued and outstanding common shares (on a fully-diluted basis) of Nuuvera. The combined company will leverage Nuuvera’s extensive international network and best-in-class manufacturing practices to become the preeminent global supplier of premium cannabis. The acquisition brings an already successful partnership between Aphria and Nuuvera under the Aphriabrand, reducing costs and providing the potential to unlock greater economic value from future production. The Transaction has been unanimously approved by the Board of Directors of each of Aphria and Nuuvera and is supported by the management teams of both companies as well as significant shareholders of Nuuvera. The Transaction values Nuuvera at approximately $826 million.

APH along with the rest of top Canadian licensed producers saw its shares drop another 5.80% today closing at $18.99 per share. Volume for the day was 5.8m. APH currently holds a market cap of 3.1b.

The Green Organic Dutchman Holdings Ltd., also known as TGOD, recently announced the closing of $112 million in private placement financing, including a strategic investment by marijuana industry powerhouse Aurora Cannabis Inc. (OTCQX: ACBFF) (TSX: ACB) of $55 million. TGOD issued 67,878,788 units at a price of $1.65 per unit. Each unit included one common share of the company and a half common share purchase warrant that can be converted to a full share at the exercise price of $3 each during the next three years. The investment fully funds the expansion of TGOD’s combined 970,000 square-foot ultra-high technology greenhouse facilities in Ontario and Quebec, Canada. TGOD’s expansion and strategic partnership with Aurora positions the company to be one of the largest and most technologically advanced cannabis production facilities in the world and sets the foundation for its highly anticipated 2018 IPO.

Shares of ACB slid 2.48% along with the rest of the sector today closing trading at $12.96 per share. Volume for the day was 14.8m. TGOD is expected to IPO later this year in one of the most anticipated IPOs in Cannabis investing history.

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