Investment and M&A Activity in the Cannabis Industry

Aurora Cannabis Announces Private Offering of US $250 Million of Convertible Senior … Aurora Cannabis Prices Offering of Convertible Senior Notes

January 23, 2019 (Investorideas.com Newswire) CANNABIS DEAL TRACKER: Summary for the Week Ended January 18, 2019.

Capital Raises

Mergers & Acquisitions

Summary of Year-to-Date Transactions

Capital Raises

Capital Raises by Week

Capital Raises by Sector

Mergers & Acquisitions

M&A Activity by Week

M&A Activity by Sector

Announcements for Week Ended January 18, 2019

Capital Raises

Biotech/Pharma

Kalytera Announces Closing of Private Placement of Common Shares and Common Share Purchase Warrants

Cardiol Therapeutics Inc. Closes Over-Allotment

Cultivation & Retail

Invictus and GTEC Holdings Announce Formal Termination of Merger Plans and Maintain Existing Working Relationship

Emerald Health Therapeutics Announces Secondary Offering

Aurora Cannabis Announces Private Offering of US $250 Million of Convertible Senior Notes Due 2024

Aurora Cannabis Prices Offering of Convertible Senior Notes

Compass Cannabis Raises C$6.75 Million for Recreational Cannabis Growth, Secures Partnerships for International Export of Medical Cannabis

DionyMed Brands Inc. Signs Definitive Agreement for an up to US$40 Million Credit Facility

Hemp

American Premium Water Corp. Announces Financing Arrangement at a $0.40 Valuation

Australis Capital Invests in Folium Biosciences, A Global Leader in Non-Psychoactive Cannabinoid Production

Hempco Enters into C$5 Million Convertible Debenture Agreement with Aurora Cannabis Inc.

Infused Products & Extracts

MYM Announces Definitive Agreement with Alumina Partners LLC for C$25,000,000 Equity Investment

Miscellaneous Ancillary

KushCo Holdings, Inc. Prices $34.0 Million Registered Direct Offering

Software/Media

Cannabis Growth Opportunity Corporation Announces Investment in Tokr, Application Software That Creates a Personalized Cannabis Experience

Mergers & Acquisitions

Consulting Services

Medicine Man Technologies Enters into Agreement to Acquire MedPharm Holdings, LLC

MPX Receives Final Court Approval for Arrangement with iAnthus

Consumption Devices

Greenlane Announces Closing of Pollen Gear Acquisition

Cultivation & Retail

Aurora to Acquire Whistler

National Access Cannabis Corp. Enters Agreement to Acquire 100% of New Leaf Emporium Inc. and Looks to Expand Retail Operations to Saskatchewan

Surterra Wellness Acquires New England Treatment Access (NETA)

TerrAscend Completes Acquisition of Grander Distribution, a U.S. Hemp-Derived Products Company

Golden Leaf Holdings Announces Termination of Agreement to Acquire a multi-use “Sweet 16” License and Certain Other Assets in San Jose, California*

Golden Leaf Holdings Announces Termination of Agreement to Acquire the Assets of Tahoe Hydroponics*

Infused Products & Extracts

Weekend Unlimited Announces Acquisition of Verve Beverage Company (VBC)

CLS Holdings USA, Inc. Locks Up Acquisition of In Good Health, Inc.

AREV Announces Purchase Agreement to Acquire Canna Gold Assets

Investments/M&A

TILT Holdings Announces Official Closing of Jupiter Research Acquisition

TILT Holdings Announces Closing of Blackbird Deal

Canaccord Genuity Growth Corp. Obtains Approval for Extension of Escrow Release Deadline for Subscription Receipts and Provides Update on Business Milestones for Columbia Care

International Cannabis to Acquire 49.9% of International Asset and Licence Portfolio from Wayland Group; Adds Licences in Germany, Switzerland, United Kingdom, Italy, Malta, Colombia, Argentina, and Australia

Resinco Capital Partners Announces Remaining Acquisition of ReFormation Pharmaceuticals Corp.

C21 Investments Receives Regulatory Approval for Transfer of Phantom Farms’ Oregon Licenses; Silver State Acquisition Officially Closed

Leviathan Cannabis Intends to Acquire Its Second Late-Stage ACMPR Applicant in the Niagara Region

Leviathan Cannabis Provides Further Information Regarding MariGrow Transaction

Yield Growth Enters New Vertical with Definitive Agreement to Acquire 8 Wellness Beverage Formulas for CBD Infusion

Abattis Provides Update of Nutrivida Acquisition

Non-Cannabis-Related

BLVD Centers to Acquire Oregon Cannabis Dispensary, Announces Appointment of New Chief Executive Officer

Going-Public Transactions

Cultivation & Retail

PharmaCielo Ltd. Announces Completion of Qualifying Transaction

Joint Ventures

Hemp

Cannamerica and Invictus Provide Update on Hemp and CBD Joint Venture

New Stock Listings

Biotech/Pharma

Medical Marijuana, Inc. Portfolio Company Kannalife Announces Completion of Name Change, Ticker Symbol Change

Consulting Services

MJardin Group Commences Trading on OTCQX Best Market

Cultivation & Retail

HEXO to Begin Trading on the NYSE American

PharmaCielo Begins Trading on the TSX Venture Exchange Under Ticker PCLO

Investments/M&A

Invictus MD Announces Submission of Its Application to List on NASDAQ and Share Consolidation

Real Estate

Bougainville Ventures Inc. Announces Listing on Frankfurt Stock Exchange

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Canopy Growth (CGC) Analysts See $-0.09 EPS; Kelly Services – Class A (KELYA) Sellers …

Kelly Services Inc – Class A (NASDAQ:KELYA) had a decrease of 14.64% in short interest. KELYA’s SI was 432,000 shares in January as released by …

Kelly Services, Inc. (NASDAQ:KELYA) Logo

Kelly Services Inc – Class A (NASDAQ:KELYA) had a decrease of 14.64% in short interest. KELYA’s SI was 432,000 shares in January as released by FINRA. Its down 14.64% from 506,100 shares previously. With 110,900 avg volume, 4 days are for Kelly Services Inc – Class A (NASDAQ:KELYA)’s short sellers to cover KELYA’s short positions. The SI to Kelly Services Inc – Class A’s float is 1.39%. The stock decreased 1.96% or $0.45 during the last trading session, reaching $22.54. About 34,750 shares traded. Kelly Services, Inc. (NASDAQ:KELYA) has declined 27.82% since January 23, 2018 and is downtrending. It has underperformed by 27.82% the S&P500. Some Historical KELYA News: 08/05/2018 – Kelly Educational Staffing® Marks National Teacher Appreciation Day by Honoring Paul McDaniel as Florida Substitute Teacher o; 09/03/2018 – KELLY SERVICES INC – WITH GERALD ADOLPH’S ADDITION, KELLY SERVICES’ BOARD HAS 10 MEMBERS; 10/05/2018 – Kelly Services 1Q Rev $1.40B; 09/03/2018 Kelly Services® Elects New Board Member; 09/05/2018 – Kelly Services Access Event Scheduled By Northcoast Research; 09/03/2018 – Kelly Services Elect Gerald Adolph to Board, Which Now Numbers 10 Member; 09/03/2018 – KELLY SERVICES BOOSTS BOARD TO 10, APPOINTS GERALD ADOLPH; 08/05/2018 – Kelly Educational Staffing® Names Nicolae Boariu as National Substitute Teacher of the Year 2018; 10/05/2018 – Kelly Services 1Q Adj EPS 32c; 26/03/2018 – Kelly Services Closes Above 50-Day Moving Average: Technicals

Analysts expect Canopy Growth Corporation (NYSE:CGC) to report $-0.09 EPS on February, 13.They anticipate $0.02 EPS change or 18.18% from last quarter’s $-0.11 EPS. After having $-0.76 EPS previously, Canopy Growth Corporation’s analysts see -88.16% EPS growth. It closed at $43.66 lastly. It is down 117.84% since January 23, 2018 and is uptrending. It has outperformed by 117.84% the S&P500. Some Historical CGC News: 28/05/2018 DR. MARK WARE JOINS CANOPY GROWTH CORPORATION AS CHIEF MEDICAL OFFICER; 30/05/2018 – CANOPY GROWTH CORP – ALL KEY MEMBERS OF HIGHLANDS’S MANAGEMENT TEAM WILL CONTINUE TO LEAD ORGANIZATION AS PART OF CANOPY GROWTH; 30/05/2018 – CANOPY GROWTH ACQUIRES DADDY CANN LESOTHO; 31/05/2018 – CANOPY RIVERS – BOARD NOW INCLUDES TWO NOMINEES OF CANOPY GROWTH CORP AND THREE INDEPENDENT DIRECTORS; 28/05/2018 – MARK WARE JOINS CANOPY GROWTH AS CHIEF MEDICAL OFFICER; 30/05/2018 – Canopy Growth Corporation Announces Entry Into The African Market With Acquisition Of Daddy Cann Lesotho

Canopy Growth Corporation, through its subsidiaries, produces and sells medical marijuana in Canada. The company has market cap of $14.97 billion. The firm offers dried, oil, and softgel cannabis products. It currently has negative earnings. Canopy Growth Corporation also sells its products through online.

More notable recent Canopy Growth Corporation (NYSE:CGC) news were published by: Benzinga.com which released: “CIBC Initiates Coverage On Cannabis Stocks, Sees Bright Future Ahead (NYSE:CGC)(NASDAQ:CRON)(NYSE:APHA) – Benzinga” on January 18, 2019, also Fool.com with their article: “Recent Deals for Canopy Growth and Aurora Cannabis Show Why One of These Marijuana Stocks Is a Great Pick — and One Isn’t – Motley Fool” published on January 20, 2019, Fool.com published: “Should You Buy Canopy Growth in 2019? – The Motley Fool” on January 01, 2019. More interesting news about Canopy Growth Corporation (NYSE:CGC) were released by: Profitconfidential.com and their article: “Canopy Growth Corp (NYSE:CGC): Still a Top Marijuana Stock for 2019 – Profit Confidential” published on January 07, 2019 as well as Investorplace.com‘s news article titled: “Is CGC Stock All Hype or Opportunity? – Investorplace.com” with publication date: December 28, 2018.

More notable recent Kelly Services, Inc. (NASDAQ:KELYA) news were published by: Seekingalpha.com which released: “Kelly Services updates on acquisitions – Seeking Alpha” on January 08, 2019, also Prnewswire.com with their article: “Expanding the Power of Oneâ„¢ – Trustpoint.One Acquires Kelly Legal Managed Services – PRNewswire” published on January 14, 2019, Globenewswire.com published: “Kelly Services® Reports Third Quarter Earnings Nasdaq:KELYA – GlobeNewswire” on November 07, 2018. More interesting news about Kelly Services, Inc. (NASDAQ:KELYA) were released by: Nasdaq.com and their article: “Kelly Services, Inc. (KELYA) Ex-Dividend Date Scheduled for August 20, 2018 – Nasdaq” published on August 17, 2018 as well as Globenewswire.com‘s news article titled: “Kelly Services® Reports First Quarter 2018 Earnings Nasdaq:KELYA – GlobeNewswire” with publication date: May 10, 2018.

Kelly Services, Inc., together with its subsidiaries, provides workforce solutions to various industries worldwide. The company has market cap of $871.53 million. The firm operates through seven divisions: Americas Commercial; Americas Professional and Technical; Europe, Middle East and Africa Commercial; Europe, Middle East and Africa Professional and Technical; Asia Pacific Commercial; Asia Pacific Professional and Technical; and Outsourcing and Consulting Group. It has a 13.82 P/E ratio. It offers trained employees for data entry, clerical, and administrative support roles; staff for contact centers, technical support hotlines, and telemarketing units; instructional and non-instructional employees for schools; support staff for seminars, sales, and trade shows; assemblers, quality control inspectors, and technicians for electronic assembly; maintenance workers, material handlers, and assemblers for light industrial maintenance; and temporary-to-hire services, as well as direct-hire placement and vendor on-site management services.

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Legal Canadian Marijuana Sales Top $40M In First Month

The industry has been good to the various companies that participate in the market, like Canopy Growth Corp. and Aurora Cannabis Inc. The market …

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One month after Canada legalized marijuana for everyone in the country, Canadians spent C$54 million ($41 million) on the product, according to a report in Bloomberg.

An Ottawa-based organization called Statistics Canada released the figures on Wednesday (Jan. 23). The agency added marijuana to its monthly reports that keep track of Canada’s economic accounts. The C$54 million number is higher than the original estimate of C$43 million, illustrating the potential of the market.

“Retail figures will vary as new stores continue to come online and the marketplace continues to evolve,” the report said.

The industry has been good to the various companies that participate in the market, like Canopy Growth Corp. and Aurora Cannabis Inc. The market has a potential for anywhere between C$5.5 billion and C$10 billion, stated the report.

Canada legalized cannabis after Prime Minister Justin Trudeau said prohibition wasn’t working and provided illicit money to gangs, while allowing for unchecked use by the country’s youth.

The legalization of marijuana in Canada is a big win for the prime minister, who said he would legalize pot use when he was running for office in 2015. The idea is to take profits away from organized criminals and to regulate the production, distribution and consumption that is already available illegally.

“The criminal prohibition that was in effect for a century in this country has failed our kids and our community,” said Bill Blair, minister of border security and organized crime reduction. He said the change will result in “order to every aspect of the production, distribution and consumption of cannabis.”

The final numbers may be different: Statistics Canada’s data might have understated sales for Ontario, which is Canada’s most populated province, because it only included online orders until April, when 25 stores are slated to open. Also, some stores ran out of products, and edibles are not yet allowed to be sold.

“We’re in a supply-constrained environment, so all of this is a little premature because the demand is clearly outstripping supply,’’ said Trevor Fencott, chief executive officer of Fire & Flower Inc.

The company says it has done C$10 million in sales and has expanded to nine different locations in Alberta and Saskatchewan, from the original five it had when the market opened.

Buds & Duds: Canopy Growth falls as CEO warns of bubble for cannabis industry

Canopy Growth Corp (NYSE:CGC) (TSE:WEED) dropped 1.3% to US$43.10 in New York trading after CEO Bruce Linton told CNBC at the World …

Cannabis stocks in the US and Canada had a down day Wednesday, trading in the same direction as the S&P/TSX Composite Index.

The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada, dropped 0.4% to 259.86.

Duds:

Canopy Growth Corp (NYSE:CGC) (TSE:WEED) dropped 0.5% to US$43.45 in New York trading after CEO Bruce Linton told CNBC at the World Economic Forum in Davos, Switzerland, that the cannabis industry faces a “massive inflationary bubble” and that investors should be careful.

“Everybody wants to be in the cannabis space, and I think investors have to be selective because … there will be a new name every week,” Linton said.

READ: Canada’s Canopy Growth shares bloom as it receives license to develop industrial hemp in New York

Merger speculation sank Aphria Inc (NYSE:APHA) (TSE:APHA). Its stock fell 2.3% to US$6.92 in New York on Wednesday after advising shareholders to take no action until its board has made a recommendation regarding an unsolicited takeover offer from Green Growth Brands Inc. (OTCMKTS:GGBXF) (CSE:GGB).

The agreement could value the Canadian cannabis company at C$2.35 billion (US$1.76 billion).

In December, Aphria rejected Green Growth’s takeover bid on the grounds that it significantly undervalued the company.

Aphria fell 2.1% to C$9.23 in Canadian trading. Green Growth declined 2.3% to US$4.37 on the OTC Markets and was down 2.8% to C$5.81 in Canada.

Hexo Corp (TSE:HEXO) slipped 2.1% to C$6.92 in Toronto after earlier this week announcing a proposed offering of common shares of C$50 million (US$37 million).

In September, Riposte Capital, which owned 2.5% of the cannabis company, urged it to explore more deals.

Buds:

The Green Organic Dutchman Holdings (TSE:TGOD) (OTCQX:TGODF) shares climbed, up 2.7% at C$3.05.

Last week, the company announced it had tapped Dr Rav Kumar as its chief scientific officer.

Organigram Holdings Inc (OTCMKTS:OGRMF) (CVE:OGI) shares were up 0.2% to US$4.69 in OTC Markets trading after the licensed cannabis producer announced OrganiCare, a program designed to improve access to medical cannabis for low-income patients.

Effective immediately, patients who earn an annual income less than C$35,000 per year qualify for a 30% price reduction on dried cannabis products and oils, the New Brunswick company said.

The stock advanced 1.6% to C$6.26 in Canadian trading.

Contact Dennis Fitzgerald at [email protected]

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Marijuana News Today: Hexo Lists on the NYSE, Cannabis Bigwigs Meet in Davos

… industry stars like Bruce Linton, CEO of Canopy Growth Corp (NYSE:CGC). … Canopy Growth stock is always making waves in the marijuana news.
Marijuana News Today
iStock.com/Aleksandr_Kravtsov

Marijuana News Today

We have a lot to cover in the marijuana news today. Between major developments in the pot stock market and the arrival of cannabis as an industry worthy of notice by the elites, it has been a busy day.

Let’s start with the softer news.

The World Economic Forum’s annual Davos gathering is often considered the face of elitism in the modern era. Top politicians, prominent industry heads, and a bevy of other notable characters often make the trek to the mountain resort.

What makes this year particularly of interest to marijuana bulls, however, is that legal cannabis has finally entered the scene. (Source: “Global elite set to meet cannabis elite as marijuana industry descends on Davos for first time,” Financial Post, January 22, 2019.)

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This year will mark the first time that the cannabis industry will be represented at the forum. A three-hour lunch called a “Cannabis Conclave” is scheduled.

Attendees include prominent politicians and businesspeople, alongside notable industry stars like Bruce Linton, CEO of Canopy Growth Corp (NYSE:CGC).

While the impact of cannabis’s presence at Davos may not be immediately felt on the stock market, it does signal growing acceptance across the world for the industry.

After all, if the elites are taking notice, that means there’s a lot of money to be made from marijuana.

And this correlates with what is likely to be another strong year for marijuana legalization across the world.

Already in the U.S., you have at least two states—New York and Illinois—with plans to legalize recreational pot, while the legalization of hemp cultivation has also provided a shot in the arm to the growing cannabidiol market.

Elsewhere, you have countries across the world relaxing their laws on marijuana and turning the product into a truly global industry—one that has the potential to be worth billions within the next few years.

As such, it makes sense that the Davos folk would take notice.

For our purposes, the cannabis presence at Davos only further solidifies what we’ve long known: the future of the marijuana industry is global, and it is profitable.

HEXO Stock

In other marijuana news today, we have Hexo Corp (NYSE:HEXO) officially listing on the New York Stock Exchange (NYSE).

This is a huge step for the company as it is now no longer confined to an over-the-counter markets (OTCMKTS) or Canadian ticker, but is now available on a truly international exchange.

This means that HEXO stock will have access to higher amounts of capital by virtue of how much more money is at play on the NYSE.

Furthermore, as is always the case when these marijuana stocks jump ship to a major listing, this lends the company an air of legitimacy and ensures investors that it’s not some fly-by-night operation.

While the number of marijuana scams are few and far between (and Hexo certainly was never charged with being one), many still see the trade as a touch illicit (especially considering U.S. federal law prohibiting marijuana).

Being on the NYSE can help alleviate that fear. The result is that more investors will be freed up to invest in what I consider to be one of the best opportunities in pot.

With Canopy being the one possible exception, there’s no other marijuana company with better fundamentals, in my mind.

A Big Alcohol partnership, lucrative supply contracts, strong production capacity etc., HEXO stock has it all—and is exceedingly cheap.

HEXO stock is still very much a marijuana penny stock, trading at around $5.50 at the time of writing.

The company has so much room left to grow and is one of the few truly undervalued plays in the market…so it’s easy to see why I’m so excited for the future of Hexo.

HEXO stock jumped one percent to start the day in early-morning trading, but finds itself up 16% over the past five days.

CGC Stock

Canopy Growth stock is always making waves in the marijuana news.

The CIBC World Markets report came out with a lofty endorsement of Canopy Growth, saying that it has the “industry’s best chance at a global titan.” (Source: “Canopy Growth set to become the ‘global titan’ of cannabis: CIBC report,” The Ottawa Citizen, January 21, 2019.)

The report cited Canopy Growth’s cash on hand, management, global ambitions, and prominent research and development as reasons why the company is most likely to dominate the global pot market.

The report also wrote that Cronos Group Inc (NASDAQ:CRON) had a good chance to be among the top marijuana companies in the world.

It went on further to celebrate Canopy Growth CEO Linton, due to his familiarity with regulators and executives, which provides the company with an edge.

While none of this is news to those who have been following Profit Confidential, it’s still heartening to hear that the world is catching up with what we have long known: CGC stock is a winner.

Canopy Growth stock remained flat to start the day but is up about four percent over the past five days.

TLRY Stock

A final headline was snagged in the marijuana news today by Tilray Inc (NASDAQ:TLRY).

Tilray purchased Natura Naturals Holdings Inc. for up to $70.0 million, almost doubling its domestic cultivation capacity.

Tilray is set to acquire Natura’s 61,500-square-meter greenhouse cultivation facility, of which 14,400 square meters is licensed. (Source: “Tilray to buy Natura for up to $70M, doubling Canadian cultivation capacity,” The Chronicle Herald, January 22, 2019.)

This is a big move for Tilray and speaks to the company’s ambitions toward expansion.

Tilray stock, however, only climbed about a percent in early-morning trading. TLRY stock over the past five days, meanwhile, is still floundering after last week’s poor performance: Tilray stock is down about 14% over the past five days.

Still, the addition of all that production capacity is a step in the right direction.

While it will likely not pay off with any sort of immediate stock surge, production capacity is one of the key factors we use to judge a marijuana stock’s value, and Tilray has done an effective job at dramatically increasing its size in a single day. Expect that to pay off with future gains.

HEXO, CGC, and TLRY Stock Performances

The performances of HEXO stock (black line), CGC stock (blue line), and TLRY stock (red line) over the past week are seen on the chart below.

Chart courtesy of StockCharts.com

Analyst Take

It has been a busy day in the marijuana news today. Headlines abound as both the pot stock market and the political aspect of cannabis were featured.

In both cases, it was nothing but good news for the marijuana industry, continuing what has already been a very strong start to 2019.

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