Ex Wayland Group CEO Ben Ward Nowhere To Be Found
It appears that former Wayland Group (CSE: WAYL) Chief Executive Officer Benjamin Ward is nowhere to be found. Morganti & Co, the law firm behind the pending class action lawsuit against both Wayland and Ward, has been unable to locate Ward to serve him with the suit. The lawsuit, as previously highlighted by The Deep […]
Crescita Therapeutics and Sundial Growers Enter Development and Licensing Agreement for Topicals
Sundial Growers (NASDAQ: SNDL) and Crescita Therapeutics (TSX: CTX) jointly announced this morning a development and licensing agreement between the two firms. The agreement will see Crescita providing its proprietary transdermal tech to Sundial for the purpose of hemp and cannabis based topicals. Crescita Therapeutics patented technology, known as DuraPeel and Multiplexed Molecular Penetration Enhancers […]
Jeannette VanderMarel Appointed as Beleave CEO
Beleave Inc (CSE: BE) announced this morning that it has appointed Jeannette VanderMarel as the Chief Executive Officer of the firm effective today. Former CEO Bill Panagiotakopoulos will return to the role of Chief Operations Officer for the firm. VanderMarel previously served as the co-CEO of 48North Cannabis Co (TSXV: NRTH), following the acquisition of […]
Was Zenabis’ Rights Offering a Poison Pill?
Earlier this week Zenabis Global (TSX: ZENA) alerted the market that they would be conducting a rights offering at a price of $0.15 per common share. At the time, the offering was over a 70% discount to the current share price of the equity. In the time since the announcement, theories have flown about the […]
GMP Securities Lowers Zenabis Price Target to $1.00, Rating to ‘Speculative Buy’
Zenabis Global (TSX: ZENA) this morning saw GMP Securities lower its price target on the firm from $3.25 to that of $1.00. The firm was also downgraded from a buy to a speculative buy in the face of a significantly dilutive financing as well decreased revenue expectations for the third quarter of 2019. Revenue estimates […]
Acreage Holdings Enters Sale Leaseback Arrangements in Multiple States for $72.3 Million
Acreage Holdings (CSE: ACRG.u) announced this morning that the firm has entered a number of sale leaseback agreements as a means of continuing to fund its operations. The sale of property includes assets across several states, including Florida, Massachusetts, and Pennsylvania, with additional assets in Illinois and Connecticut expected to close within the next thirty […]
Canntrust Holdings To Reduce Workforce Additional 25%
It’s been a rough day for those employed in the cannabis sector. Following the announcement early this afternoon that Hexo Corp (TSX: HEXO) (NYSE: HEXO) would be reducing its workforce by 200 people, Canntrust Holdings (TSX: TRST) (NYSE: CTST) made a similar announcement, with the firm intending to lay off 140 people from its current […]
Hexo Corp Reduces Workforce 19% Amid Declining Revenue Prospects
Hexo Corp (TSX: HEXO) (NYSE: HEXO) announced this afternoon that it is making a number of cuts to its operations as a result of decreased revenue expectations for 2020, including the reduction of approximately 200 jobs across all departments. The employee reduction equates to roughly 19% of the total workforce at Hexo as per the […]
Zenabis Global Conducts Rights Offering at $0.15, 70% Discount to Share Price
Zenabis Global (TSX: ZENA) is in need of further funding yet again. The firm this morning announced that they are conducting a rights offering to raise $20.8 million. The offering is only available to holders of common shares of Zenabis as of the record date, being October 31, 2019. Under the rights offering, each shareholder […]
Tilray Imports Medical Cannabis to USA to Assist Research on Breast Cancer Related Disorder
Tilray Inc (NASDAQ: TLRY) announced this morning that it has successfully imported medical cannabis from Canada to the United States. The cannabis was imported in support of a clinical trial related to that of breast cancer research. Specifically, the study is researching the impact that medical cannabis has on individuals that have breast cancer while […]