Marijuana Stocks: Weekly News Recap

Aurora Cannabis (TSX: ACB) and CanniMed Therapeutics (TSX: CMED) announced yesterday a $1.1b solution to their takeover battle. Aurora has made a friendly cash and stock bid to acquire its smaller rival. The deal was valued around $43 per share, after its earlier all stock offer was rejected by CanniMed. Newstrike Resources (TSXV: HIP), which CanniMed had agreed to buy in an all stock deal of its own will be excluded from the agreement and as a result, CanniMed will pay Newstrike a $9.5m break fee. This acquisition will be the largest cannabis deal of all time and could lead to further consolidation in the Canadian cannabis industry.

The morning of this monumental deal saw CMED‘s stock open trading higher at $42 per share before running to a high of $46. The stock settled in at a closing price of $41.90 with 2.27m shares changing hands. Today say CMED‘s stock slip 6.8% closing at $39.05 on 1.2 in volume. The day of the deal saw ACB‘s shares open slightly higher at $15.20 per share before closing the day lower at $13.98. Along with the rest of the major cannabis players ACB‘s stock drop 6.2% today with 26m shares traded. 

Canopy Growth Corporation (TSX: WEED) has announced the closure of the acquisition of assets and intellectual property from Green Hemp Industries Ltd. and has welcomed Green’s Principal and Founder, Jason Green to the Canopy Growth family. The combined expertise of Canopy Growth’s cannabinoid extraction processes and Green’s hemp harvesting knowledge and library of stable CBD-rich hemp genetics will position the company as a global leader in low-cost, high yield CBD production. Through this diversification of operations, the company will be investing in an innovative new agricultural sector and creating jobs for Saskatchewanians.

Shares of WEED closed trading today at $31.68 per share down 9.1% with 9.9m shares traded. News of this deal did little slow the drop in share price as many of Canada’s top MJ stocks continue to cool off after an impressive run to open 2018. WEED remains the largest Canadian Cannabis company with a market cap of 6.1b. 

Namaste (CSE: N) is pleased to announce that its wholly-owned subsidiary, Cannmart, Inc. (“Cannmart”) and 8528934 Canada Ltd. (“7ACRES”), a wholly-owned subsidiary of The Supreme Cannabis Company, Inc. (TSXV: FIRE), have signed a Definitive Supply Agreement (the “Agreement”) whereby Namaste, through its wholly-owned subsidiary, Cannmart, has committed to purchase 1000 kilograms of premium quality medial cannabis from 7ACRES in 2018, commencing on the date that Cannmart becomes a “Licensed Producer” under the Access to Cannabis for Medical Purposes Regulations (the “ACMPR”). This Agreement represents a significant milestone for Namaste, as its first commitment to a volume purchase of medical cannabis.

Namaste‘s stock rose 1.66% in early trading but wasn’t able to hold those gains closing down 1% with 4m shares changing hands. After a meteoric rise to finish 2017 the stock has been consolidating nicely in the $3 area. Shares of FIRE received a nice boost from this news but was unable to hold onto those gains as the stock closed down 5% on 9m shares traded. 

GW Pharmaceuticals (NASDAQ: GWPH), a biopharmaceutical company focused on discovering, developing and commercializing novel therapeutics from its cannabinoid product platform in a broad range of disease areas, along with its U.S. subsidiary Greenwich Biosciences, announced today that The Lancet has published results from a study of Epidiolex® (cannabidiol) in patients with Lennox-Gastaut syndrome (LGS). Epidiolex, GW’s leading product and the potential first in a new category of anti-epileptic drugs (AEDs), is a pharmaceutical formulation of purified cannabidiol (CBD), a cannabinoid lacking euphoric side effects, which is being studied for the treatment of a number of rare, severe pediatric-onset epilepsy disorders. GW has submitted A New Drug Application(NDA) for Epidiolex to the FDA for the adjunctive treatment of LGS and Dravet syndrome, which was accepted in December with an assigned PDUFA goal date of June 27th 2018. If approved, the medicine is expected to be available in the U.S. by prescription in the second half of 2018. GW has received Orphan Drug Designation from the FDA and the European Medicines Agency, or EMA, for Epidiolex. Additionally, GW has received Fast Track Designation from the FDA for the treatment of Dravet syndrome and conditional grant of rare pediatric disease. The Company continues to evaluate Epidiolex and currently has ongoing clinical trials in Tuberous Sclerosis Complex and Infantile Spasms. GW is focused on making this new medicine available to patients and their caregivers as quickly as possible.

This news pushed shares of GWPH to a new 52 week high of $141.50. Today the stock is trading slightly lower at $136.69 down 0.7% with 377k shares traded. With 25m shares outstanding GWPH holds a market cap of 3.5b. 

Kush Bottles, Inc. (OTCQB: KSHB), a leading sales platform that provides unique products and services for both businesses and consumers in the cannabis industry, has announced its January 18 presentation from Nick Kovacevich, CEO, is now available for on-demand viewing at VirtualInvestorConferences.com. Kush Bottles has sold more than 100 million units and now regularly services more than 4,000 legally operated medical and adult-use dispensaries, growers, and producers across North America, South America, and Europe. With facilities in the three largest U.S. cannabis markets and a local sales presence in every major U.S. cannabis market, the company aims to be the gold standard for products and services in the cannabis industry. Kush Bottles has no direct involvement with the cannabis plant or any products that contain THC. Kush Bottle’s revenue increased 258% Year-over-Year to $8.85 million by the end of the fiscal first quarter 2018. The company expanded its product portfolio in preparation for legal adult use California sales coming online in January 2018, and has continued to grow a broad and diverse customer base. Kush Bottle’s has also started working with prominent names in the sector in 2017, such as High Times and CannaKorp.

Shares of KSHB have been on a tremendous run to start 2018. The stock has nearly doubled in price while rising to an all time high of $8.51. KSHB closed trading today at $7.23 per share down 1% on 740k volume. KSHB currently sports a healthy market cap of 448m. 

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