Canopy Growth Corporation (TSX: WEED) (OTCPK: TWMJF) is pleased to confirm that it has successfully completed a transfer of 1,500 cannabis clones to its Madrid-based partner, Alcaliber SA (“Alcaliber”), completing the first phase of a partnership entered into by both parties (the “Parties”) as announced on September 11, 2017.
Canopy Growth and Alcaliber enjoy a very strong and committed partnership which will continue to see Alcaliber producing cannabis genetics supplied by Canopy Growth subsidiaries for commercialization purposes.
Canopy Growth also wishes to clarify that, contrary to certain speculation, the Company is not in negotiations to acquire Alcaliber.
“Our view of the European continent mirrors our Canadian expansion strategy,” said Bruce Linton, Chairman and CEO, Canopy Growth. “We’re diversifying our production capabilities on the continent in anticipation of rapid European market expansion. In addition to a large licenced production footprint in Odense, Denmark we are working closely with our partner Alcaliber to capture market share by scaling supply.”
Shares of WEED traded down 2.1%, closing the day at $32.96 per share with 5.58m shares traded. Since the mid January pullback in cannabis stocks WEED has been one of the top performers in the sector.
The Hydropothecary Corporation (TSXV: THCX) (“Hydropothecary”) has reached an agreement with Shopify, one of the world’s most respected online commerce companies, to build its ecommerce platform for cannabis products. The bilingual website will serve Hydropothecary’s medical customers, provide information for discerning recreational consumers and support engagement with provincial and territorial cannabis retailers.
“Shopify is a great fit for our business, providing an ideal way for customers to learn, browse and buy,” said CEO Sebastien St-Louis. “As we move into new markets, Shopify’s platform allows us to provide informed and engaging online experiences to new consumers, while giving us the flexibility to adapt to regulatory challenges and market variations from province to province.”
Working closely with Hydropothecary’s industry-leading customer-care team, the new platform will improve the shopping experience for medical cannabis patients by streamlining the medical registration and ordering process. Additionally, Shopify’s expertise in providing, secure and flexible ecommerce websites will be invaluable in serving cannabis consumers across Canada.
Today’s news pushed THCX 1.5% higher with the stock closing trading at $4.15 per share on volume of 3.52m. After dropping to $3.25 at the end of February, THCX has run nearly 30% in the past few weeks.
Namaste Technologies Inc. (CSE: N) (OTCQB: NXTTF) is pleased to announce that it has signed a Medical Cannabis Supply Agreement (the “Supply Agreement”) with Marigold Projects Jamaica Ltd. (“Marigold”) under its wholly owned subsidiary, Cannmart Inc. (“Cannmart”), whereby Marigold will supply Cannmart with high quality Jamaican produced medical cannabis, to be imported by Cannmart from Jamaica and offered in the Company’s online marketplace, subject to approval by Health Canada and the Cannabis Licencing Authority. This Supply Agreement further supports Namaste’s vision of creating a diverse platform for medical patients to access high quality cannabis, sourced from both domestic and international producers.
Key Terms of the Supply Agreement:
- Cannmart will submit purchase orders to Marigold for medical cannabis.
- Cannmart will import medical cannabis from Marigold, subject to approval by Health Canada.
- Cannmart will be compliant with Marigold’s branding and pricing strategy.
- Cannmart will be responsible for shipping and importation costs of the product.
- Marigold will provide Cannmart with lab test reports for each purchase in advance and in accordance with Cannmart’s requirements under Canadian regulations.
- Packaging of products will bear the Marigold brand logo.
After posting strong gains Monday, N saw its stock tumble 9.1% today. The stock closed trading today at $2.10 per share with over 5m shares changing hands.
MedReleaf Corp. (TSX: LEAF) (“MedReleaf” or the “Company”), Canada’s first and only ISO 9001 and ICH-GMP certified cannabis producer, today announced that it has entered into an agreement to become the largest supplier of medical cannabis products to Cannamedical Pharma GMBH (“Cannamedical”), a leading medical cannabis distributor to pharmacies in Germany. MedReleaf will provide Cannamedical with monthly exports of five of its premium strain varieties significantly improving the predictability and security of drug delivery to the German market. Sales to Germanywill commence promptly upon the expected receipt of MedReleaf’s European Medical Agency Good Manufacturing Practices (“GMP”) certification and export permit from Health Canada in the coming weeks.
Germany is poised to become the largest federally regulated medical cannabis market in the world, with a population of over 82 million, approximately 89% of whom are covered by the public health insurance program and the remainder covered by private insurance plans. The current medical cannabis laws in Germany came into effect on March 10, 2017 and without domestic production, cannabis is being imported to meet the rapidly growing demand.
“Federally legal markets for cannabis outside Canada are by and large focused on medical applications. This plays to MedReleaf’s core strengths in R&D, innovation, quality control, and pharmaceutical grade standards,” said Neil Closner, President and CEO. “Medical cannabis in Germany has been in short supply and Cannamedical is an ideal partner to bring MedReleaf’s premium cannabis products into Germany as one of Europe’s leading cannabis distributors with shared values on patient-centricity, a proven track record, and a growing network of 1,800 pharmacies.”
LEAF slipped 1.7% today, closing the session at $18.90 per share with just under 500k shares traded. LEAF continued its consolidation with strong support forming near $18.
Horizons ETFs Management (Canada) Inc. (“Horizons ETFs“) completed the quarterly rebalance of the constituent holdings of the Horizons Marijuana Life Sciences Index ETF (“HMMJ“) on March 16, 2018. As a result, 10 new companies have been added to HMMJ’s portfolio.
The HMMJ portfolio recently expanded to include the following constituents:
HMMJ is an index (or passively managed) ETF, which seeks to replicate, to the extent possible, the performance of the North American Marijuana Index (the “Index“), net of expenses. The Index is designed to provide exposure to the performance of a basket of North American publicly listed life sciences companies with significant business activities in the marijuana industry. The Index selects from a current universe of companies that have operations that may include one or more of biopharmaceuticals, medical manufacturing, distribution, bio-products and other ancillary businesses related to the marijuana industry.
“One of the key benefits of HMMJ is its diversification – providing access to a broad cross-section of stocks involved in the marijuana sector. It’s exciting to see an increase in the number of investable companies that qualify to be included in HMMJ’s portfolio,” said Steve Hawkins, President and Co-CEO of Horizons ETFs. “As we move closer to the Canadian government legalizing the recreational use of marijuana, we continue to watch the Cannabis sector rapidly grow in size and breadth.”
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