PharmaCielo Sees Marc Lustig Appointed As Lead Director, Conducts $10 Million Financing
It appears that PharmaCielo Ltd (TSXV: PCLO) has effectively locked in a new lead director. The company announced yesterday evening that Marc Lustig, the well known cannabis industry executive, had agreed to join the board of directors of the firm upon the company managing to successfully raise at least $5.0 million in a private placement. […]
Maritime Resources Hits 26.2 G/T Gold Over 4.0 Metres At Hammerdown Project, Newfoundland
Maritime Resources (TSXV: MAE) this morning reported assay results from its ongoing exploration program at its Hammerdown Gold project, located in Newfoundland. Two drill rigs are currently actively drilling the property, with the latest assays from the program including highlights of 26.2 g/t gold and 1.7 g/t silver over 4.0 metres at the Orion deposit. […]
Acreage Holdings Borrows $28 Million Under Senior Secured Term Loan
Acreage Holdings (CSE: ACRG.A.u, ACRG.B.u) has returned to the trough for further capital. The company announced this morning that it has received initial commitments and funding for a “first advance” of $28 million in via a senior secured term loan facility. The financing, which is being conducted via a syndicate of lenders, will see an […]
Mall Landlords Across the US Filing for Bankruptcies Amid Brick-and-Mortar Apocalypse
Over the weekend, two major US mall landlords filed for Chapter 11 protection, joining the ever-expanding list of bankruptcy filings that are plaguing the US retail industry. On Sunday two mall REIT’s, CBL & Associates Properties and the Pennsylvania Real Estate Investment Trust (PREIT), both filed for Chapter 11 bankruptcy protection after succumbing to COVID-19 […]
Eguana Closes Oversubscribed Placement, Expands Product Offerings
Eguana Technologies (TSXV: EGT) this evening announced that it has closed its previously announced brokered private placement. Previously set to raise $1.0 million in gross proceeds, the offering was oversubscribed with a total of $1.15 million raised for the company. Funding from the financing, which was conducted in the firms subsidiary EGT Markets Limited Partnership, […]
Hexo Corp: Multiple Analysts Lower Price Targets Following Fourth Quarter Earnings
This morning, Canaccord Genuity lowered their 12-month price target on Hexo Corp (TSX: HEXO) (NYSE: HEXO) to C$1.00 from C$1.50 and reiterated its hold rating. Stifel and Cormark also cut their price targets on the company from C$0.90 to C$0.60 and C$1.25 to C$1.00, respectively. These cuts come after HEXO released its fourth-quarter and full-year […]
Market Movers: New Found Gold Momentarily Crosses $700 Million Valuation
New Found Gold (TSXV: NFG) went gangbusters this morning, moving as high as $4.90 before falling lower later in the day. At the the height, the company saw its equity up as much as 9.4%, cresting a $700 million valuation – a remarkable gain considering it actually opened the market down 2.5% on the day. […]
Global Tourism Set to Lose $730 Billion in Revenue Due to Pandemic-Related Travel Restrictions
As many countries around the world moved to impose stringent travel restrictions in an effort to mitigate the spread of the deadly pandemic, the global tourism industry has taken a tremendous hit, with international arrivals plunging by a staggering 70% in the first eight months of the year. According to the UN World Tourism Organization […]
Global Gold Demand Drops To 11-Year Low As Consumers And Investors Face Effects Of COVID-19 Pandemic
It appears that gold has lost its lustre for many central banks and investors, causing demand to drop by 10% in the third quarter as global interest in the precious metal slid under the weight of the pandemic. According to the World Gold Council (WGC), third quarter gold demand slipped to 892.3t, the lowest level […]
Aphria Enters Polish Market Via Arrangement With ODI Pharma AB
It appears that Aphria Inc (TSX: APHA) (NASDAQ: APHA) is expanding its distribution to Poland. It was announced jointly with ODI Pharma AB this morning that the two firms have entered into a supply agreement for distribution to the country. Under the terms of the supply agreement, which was entered into via CC Pharma, ODI […]