James E. Wagner Cultivation Materially Expands Operations in Tough Market Conditions
With a confluence of negative factors affecting the sector – including several licensed producers failing to deliver on primary production facility buildouts – it’s easy to forget that some LPs are executing according to plan. While many Canadian juniors garner additional concerns about the long-term viability of their operations, some are sitting in a relatively […]
Canntrust Holdings to Destroy $77 Million Worth of Cannabis
Canntrust Holdings (TSX: TRST) (NYSE: CTST) announced early this afternoon that it is taking steps to establish a remediation plan with Health Canada in regards to the status of its licenses. As a part of that plan, over $77 million worth of inventory and biological assets will be destroyed by the company. In total, $12 […]
Canopy Growth Divests Stake in AusCann Group Holdings
Canopy Growth Corp (TSX: WEED) (NYSE: CGC) has disposed of its 13.2% stake in AusCann Group Holdings (ASX: AC8), an Australia-based cannabis operator. The two firms have had a partnership that stretches back to 2016, when AusCann Group was originally to provide Canopy with expertise in regards to cultivation activities. The divestment reportedly took place […]
Understanding Convertibles: The Basics For Cannabis Investors
When the potco summer was in full swing last year, convertibles were all the rage. They’re available in several different varieties, but the differences mostly come down to trim. At the heart, convertibles are debt instruments whose principal and interest can “convert” to equity when the issuer’s stock trades above a predetermined price. And, like […]
Crop Corp In Default on Nevada THC Property, Secured Debt
Crop Infrastructure Corp (CSE: CROP) halted equity trading this morning prior to putting out a news release identifying several changes at the firm, including the move away from purchasing extraction equipment, a failure to pay interest on certain debts, and the default status of its Nevada THC property as a result of an overdue mortgage. […]
FSD Pharma Announces 1 for 201 Share Consolidation
FSD Pharma (CSE: HUGE) announced this morning that it will be completing a share consolidation a 1 for 201 basis, while also simultaneously announcing that they former Congressman Stephen Buyer to the board of directors. The news of the share consolidation, which has been viewed as a long time coming by many industry watchers, comes […]
Canopy Growth, Hemp Producer Head to Court Over 1,115 Acres of Lost Production
Canopy Growth Corp (TSX: WEED) (NYSE: CGC) and its US based hemp partner Go Farm Hemp are headed to the courts. The two are suing each other as a result of a dismal 2019 crop that spans several states and multiple contracts, including the states of New York, Kentucky, Colorado and North Carolina. The legal […]
Millennial Esports to Buy Stake in YouTube Channel for $735,000
Millennial Esports (TSXV: GAME) announced this morning that they’ve entered a binding letter of intent to acquire a YouTube channel for $735,000 in cash and common shares. The channel, LetsGoRacing, will see 51% of its ownership be acquired by the esports and gaming issuer. LetsGoRacing has achieved over 40 million views since its launch in […]
Village Farms Conducts Bought Deal Financing at $9.40 Per Share
Village Farms International (TSX: VFF) (NASDAQ: VFF) announced this morning a $25 million bought deal financing, at a price discount of 11% compared to the prior days close. The financing is being conducted by a syndicate of underwriters, co-led by Beacon Securities and GMP Securities L.P. The financing is to consist of 2,660,000 common shares […]
Hexo Corp Provides Preliminary Q4 Revenue Miss, Rescinds 2020 Guidance
Hexo Corp (TSX: HEXO) (NYSE: HEXO) announced preliminary revenue figures this morning for its fourth quarter of fiscal 2019 of $14.5 to $16.5 million, far short of previous guidance of $25 million iterated for the three month period. The firm also rescinded its prior issued guidance of $400 million in revenues for fiscal 2020. The […]