Aphria Inc. (TSX: APH) (OTCQB: APHQF) today announced that it has closed the previously announced acquisition of Broken Coast Cannabis Inc., a leading premium cannabis producer located in British Columbia, acquiring 99.86% of all of the issued and outstanding Class A common shares.
“We’re excited to complete this transaction and add one of Canada’s most sought after premium brands to our portfolio,” said Vic Neufeld, Chief Executive Officer of Aphria. “Broken Coast brings award-winning production of small-batch, premium-quality “B.C. bud” and a shared focus on production costs and profitability. When combined with Aphria’s experience in scaling and supply chain management, this acquisition firmly establishes our position as a Canadian leader in premium indoor cannabis production.”
Shares of APH traded mostly flat today closing the session down 0.6% at $15.54 per share with 3.4m shares traded. The stock has recently found support in the $15 range after pulling back from its mid January highs. APH has a 52 week high of $24.75.
MedReleaf Corp. (TSX: LEAF) (OTCPK: MEDFF), Canada’s first and only ISO 9001 and ICH-GMP certified cannabis producer, today announced financial and operating results for the third quarter fiscal 2018 ending December 31, 2017. All amounts expressed are in Canadian dollars unless otherwise noted.
“In the third quarter, we set new records for total sales and grams sold demonstrating the strength of our underlying business while we continue to make investments in preparation for the recreational market and for international expansion,” said Neil Closner, CEO of MedReleaf. “These investments are starting to bear fruit and we now have boots on the ground in six different countries working on various initiatives – both for cultivation and export. We also launched our first adult recreational-use brand, San Rafael ’71, which is getting good reception from the various Provincial purchase authorities. With a strong balance sheet bolstered by $192.5 million in equity capital raised since last December, we have a clear opportunity to establish MedReleaf as a global leader in the cannabis industry.”
LEAF finished the day in the green, closing up 6.5% at $19.75 per share with over 1m shares changing hands. After a large pullback along with the rest of the sector LEAF has bounced strongly off the $15 mark rallying over 30% in the past week.
Organigram Holdings Inc. (TSXV: OGI) (OTCQB: OGRMF), a leading licensed producer of medical marijuana based in Moncton, New Brunswick, is pleased to announce that it has received an expanded cultivation license from Health Canada related to its previously announced Phase 2 expansion.
The scope of the amendment includes approval of the following:
- The entire perimeter of the expanded facility, approximately 150,000 sq ft
- The first ten of Organigram’s new 23 three-level cultivation rooms
- Improved functional design to facilitate production, including a custom designed potting room, and an automated feed and watering system.
OGI‘s stock traded flat today closing up 0.5% at $4.33 per share on volume of 1.2m. OGI seems to be building a base just north of the $4 mark as the stock looks to push higher.
CannTrust Holdings Inc. (CSE: TRST) (OTC: CNTTF), one of Canada’s leading licensed producers of cannabis, is pleased to announce that it has received its Health Canada Sales License for the 250,000 square foot Phase 1 of its 46 acre Niagara Region state of the art cannabis greenhouse production facility.
10 harvests have now been completed at the Niagara Facility, the 180,000 square foot Phase 2 expansion is currently underway and is anticipated to be completed and in cultivation towards the middle of 2018. In addition, due to its size, the Facility provides the Company with the ability for future expansion.
“The Phase 1 infrastructure renovations were completed both on budget and on time. This is a testimony to our amazing team, our data driven processes and our focus on disciplined execution,” said Brad Rogers, CannTrust’s President.
TRST also closed trading today up 0.5% at $8.86 per share with exactly 300k shares changing hands. Along with the rest of its peers TRST pulled back roughly 35% to end January and is currently trading in a range between $7.80 and $9.
mCig, Inc. (OTCQB: MCIG) subsidiary Obitx, Inc., a technology company providing advertising and marketing products and services using digital technologies across the Internet, mobile devices, displays, and other digital mediums, utilizing a proprietary cloud-based social media platform filed its S-1 Registration Statement with the Securities and Exchange Commission (SEC), and is providing an update to its shareholders on the status of the OBITX Spin-Off.
On Friday, February 9, 2017, Obitx, Inc. filed an (S-1) registration statement with the Securities and Exchange Commission. During this process, it is routine for the applicant to receive questions from the SEC in regards to the subject dividend.
“Management expects the combination of two stocks, one representing the value of the different cannabis businesses that remain in the parent company, and the other representing the value of technology operations to yield a greater return for shareholders,” states mCig CEO, Paul Rosenberg.
Shares of MCIG closed trading today up 1.1% at $0.2301 with 644k shares traded. After losing nearly 50% of its value to since January 1st the stock has been trading in the low $0.20 range. Volume has noticeably been on the decline.
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