Cannabis Wheaton Income Corp. (TSXV: CBW) (OTCQB: CBWTF) is pleased to announce that further to its previously announced letter of intent, it has entered into a binding definitive agreement with its streaming partner FV Pharma Inc. to develop all aspects of FV’s cannabis cultivation facility in mutually agreed staged phases, with the potential to build out the largest indoor cannabis cultivation facility in the world.
The FV Pharma state-of-the-art facility, hosts an existing 620,000 square feet of building space and is famously known as the former KRAFT® food manufacturing facility. The Facility is ideally situated only one hour east of Toronto in Cobourg, Ontario, off of the 401 highway and has access by car or rail to Ottawa and Montreal. In exchange for the Cannabis Wheaton Allocation, the Company’s management team will assist FV Pharma with all aspects of the design, development, financing, build-out and operations of the Facility as well as the marketing, branding and distribution of all cannabis and cannabis-derived products generated by the Facility.
Shares of CBW continued to push higher today and closed trading at $1.72, up 1.18% on strong volume of 5.25m. After bouncing off the $1.40 mark last week CBW has rallied over 23% in the last 5 trading sessions.
Cronos Group Inc. (NASDAQ: CRON) (TSXV: CRON) is pleased to announce that the Company is changing its ticker on the TSX Venture Exchange from MJN to CRON.
This change is effective immediately for trading commencing on Monday, March 5 and is being made to conform to the ticker symbol that was selected when Cronos Group became the first pure-play cannabis company to trade on the Nasdaq on February 27, 2018.
In its 2nd day trading under the new symbol, CRON.V finished trading today up 1% at $12.75 per share with increased volume of 1.37m. Since its milestone listing on the Nasdaq, CRON.V‘s stock has run over 40% in the past week.
MedReleaf Corp. (TSX: LEAF) (OTCPK: MEDFF), Canada’s first and only ISO 9001 and ICH-GMP certified cannabis producer, today announced it has entered into an exclusive licensing agreement with Woodstock Cannabis Company for use of the iconic Woodstock brand in the Canadian cannabis market.
Under the terms of the agreement, MedReleaf will grow and sell a variety of strains and formats under the Woodstock banner, expanding the offering of products as regulations allow.
“As a trusted symbol of the values and lifestyles of the Cannabis Community, the authenticity of Woodstock resonates with a wide segment of the population like no other brand,” says Michael Lang, a principal of Woodstock Cannabis Company and one of the producers of the original Woodstock Festival. “We chose to partner with MedReleaf because we are so impressed with their in-depth understanding of the Canadian consumer, with their unparalleled track record of producing award-winning cannabis and with their commitment to innovation. Together we are going to deliver an incredible consumer experience.”
Shares of LEAF traded down 1.02% today, closing trading at $20.29 with over 703k shares changing hands. LEAF‘s chart seems to be gaining strength and it will be interesting to see if the stock can challenge its old highs in the coming months.
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 Health Canada approval for the remaining 13 rooms of its 23 room Phase 2 expansion a week ahead of schedule. The Company previously announced the available use of the first 10 rooms of the Phase 2 expansion on February 12, 2018. The Company expects harvests from the Phase 2 expansion to begin the third week of April.
“We are seeing some harvest yields that are more than 400 grams per square foot a year and have witnessed the quality, density and size of flowers improve tremendously,” said Greg Engel, CEO, and “With these results we are revising our current production forecast estimates as well as those for our next expansion, set to break ground in April 2018, so that by early 2020 we will be producing over 110,000 kg/annum from fully funded operations”.
Today’s news caused OGI‘s stock to gap open at $4.50 per share and rise to a HOD of $4.55. Unfortunately OGI wasn’t able to hold onto those gains subsequently closing trading today at $4.20 per share, down 2.78% on volume of 1.59m. OGI seems to have found a bottom after bouncing off the $3.50 area for the 2nd time.
Kush Bottles, Inc. (OTCQB: KSHB), a leading provider of packaging, supplies, vaporizers, accessoriesand branding solutions for the regulated cannabis industry, announced today it has been selected by FunkSac, LLC to be the exclusive distributor for its line of flagship FunkGuard products.
FunkSac® which was named by Entrepreneur Magazine as one of “10 Cannabis Startups You Need to Watch,” was funded in part by Snoop Dogg’s Casa Verde Capital. The company is veteran-owned, based in Denver, CO, and provides compliant packaging solutions used in both medical and recreational markets.
Under the terms of the agreement, Kush Bottles will distribute the line of FunkGuard products to FunkSac’s existing customer base, as well as across Kush Bottles’ national platform. FunkSac® will continue to implement its own sales and marketing initiatives in conjunction with the additional support from Kush Bottles.
Nicholas Kovacevich, Chairman and CEO of Kush Bottles, said he admires FunkSac’s commitment to quality. “FunkSac’s management shares values that are closely aligned with those of Kush Bottles,” he said. “FunkGuard products are produced in the USA using the highest quality materials, and certified child-resistant from an ISO certified testing facility. We are pleased to be selected as FunkSac’s exclusive distribution partner and look forward to offering our customer base with an even greater range of brandable packaging and compliance solutions.”
Shares of KSHB pushed significantly higher for the 3rd time in the past 4 trading sessions. Today KSHB gained another 5.46%, closing the day at $5.02 with over 316k shares changing hands. After an over 50% correction the stock seems have found its bottom bouncing sharply off $4.
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