Weekly Marijuana News Summary

mCig, Inc. (OTCQB:  MCIG), a diversified company servicing the legal cannabis markets, announced that the company’s CEO had agreed to invest more than $500,000 into OBITX, Inc., formerly known as GigeTech, Inc., a majority owned subsidiary of MCIG.

The funds will be used by the company to purchase the first of its kind, state of the art cryptocurrency ATMs.  OBITX will utilize the machines to service cannabis companies by helping to build a bridge between the “cash” business of cannabis and mainstream finance through cryptocurrency.

The ATMs are the first of its kind and will support most forms of cryptocurrency including Bitcoin, Etherium, Litecoin and more.

Namaste Technologies Inc. (CSE: N) (OTCQB: NXTTF) announced record breaking sales for the month of November 2017, as reported by the Company (including shipping revenues after discounts and refunds) of C$2.2M, equating to a 69 percent month-on-month increase and a 146 percent year-on year increase, representing Namaste’s highest month of revenue in the company’s history.

Namaste has grown and consolidated the cannabis ancillary product industry to become the largest business-to-consumer retailer for vaporizers and smoking products globally. Namaste, through its wholly owned subsidiary, Cannmart Inc. and through the launch of NamasteMD Inc. believes that the Company is positioned to become a global leader for medical cannabis sales.

CanniMed Therapeutics Inc. (TSX:CMED) announced that, in connection with Aurora Cannabis Inc.’s hostile bid to acquire all of the common shares of the company, it has applied to the Financial and Consumer Affairs Authority of Saskatchewan (the “FCAAS”) and the Ontario Securities Commission (the “OSC”) for orders that, among other things, the hostile bid is an “insider bid” for the purposes of applicable Canadian securities laws, on the basis that SaskWorks Venture Fund Inc., Apex Investments Limited Partnership, Golden Opportunities Fund Inc. and Vantage Asset Management Inc. (collectively the “Locked-up Shareholders”) have acted jointly and in concert with Aurora.

Marapharm Ventures Inc. (CSE: MDM) (OTCQB: MRPHF) announced that it had entered into an agreement with Emerging Equities Inc. pursuant to which the company will offer, on a private placement basis, up to 20,000,000 units at a price of $0.86 per Unit for proceeds of up to $17,200,000.

Each unit will consist of one common share of the company and one share purchase warrant of the company Each warrant will entitle the holder thereof to purchase one share at an exercise price of $1.25 at any time up to 12 months following the closing date.

Aurora Cannabis Inc. (TSX: ACB) (OTCQX: ACBFF) responded to the call by CanniMed Therapeutics Inc. CEO Brent Zettl for intervention by the Government of Saskatchewan to block Aurora’s generous offer to acquire all issued and outstanding shares of CanniMed.

“This is the latest in a series of increasingly desperate schemes by CanniMed management that would have the effect of disenfranchising their own shareholders and preventing them from exercising their fundamental rights,” said Terry Booth, CEO of Aurora. “We made a bona fide offer, featuring a compelling premium that 38 percent of existing CanniMed shareholders immediately supported and continue to support through lockup agreements, including two prominent Saskatchewan-based investment funds.”

 

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