Daily Cannabis News Roundup | January 16, 2019

HighLights

Market Watch
Worldwide consumer spending on legal cannabis is expected to reach an estimated $12.2 billion in 2018, a significant jump from $9.5 billion in 2017, according to the “2019 Update to The State of Legal Marijuana Markets” …

Bloomberg
SOL Global Investments Corp., the cannabis firm that short sellers singled out for allegations of insider self-dealing, is pursuing future investments and wouldn’t rule out doing one with Aphria Inc…

FDA Enforcement Against Hemp-CBD Products Has Begun

Canna Law Blog
On January 3rd, according to the owner of a smoke shop in Yuma, Arizona, officials from the Food and Drug Administration (FDA) seized a variety of CBD products from the store’s shelves…

Market Watch
Tuesday, attorney general nominee William Barr said that the current system around marijuana laws is ‘untenable’ and he personally supports prohibiting…

Stocks

Bloomberg
Amid a stock plunge that saw Canopy Growth shares plunge by about 50 per cent since pot became legal in Canada, the company’s co-CEO Bruce Linton said he’s focusing on winning the support of institutional investors to help stabilize its shares.

Market Watch
Tilray Inc. shares TLRY, -17.24% slid 10% Tuesday as the lock-up period following its initial public offering expired, allowing executives and other early investors to sell their stock. 

Market Watch
Tilray, Inc. TLRY, -17.24% a global pioneer in cannabis production and distribution, and Authentic Brands Group (ABG), an owner of a portfolio of global lifestyle and entertainment brands…

Market Watch
Canopy Growth Corporation (“Canopy Growth” or the “Company”) (WEED)  CGC, -2.80% will release its financial results for the third quarter fiscal 2019 ended December 31, 2018 after financial markets close on February 14, 2019…

Cannabis Canada Daily: Canopy Growth granted hemp licence in New York

Aurora Cannabis announced it entered an all-stock deal to buy Whistler Medical Marijuana on Monday worth up to US$175 million. Whistler operates …

Aphria Stock:  A Total Catastrophe Or A Significant Opportunity?

Seeking Alpha
There were three significant events that pushed Aphria’s stock higher. First, Aphria, being a pot stock, got caught up in the euphoria of irrational exuberance as investors…

New Age Beverages Corp (NASDAQ:NBEV) On The Verge Of A Breakout

Insider Financial
New Age Beverages Corp (NASDAQ:NBEV) has been one of the most explosive microcap runners over the past year. Last September, we saw the stock explode from under $2 to just under $10 in a matter of five days. 

Market Watch 
iAnthus Capital Holdings, Inc. (“iAnthus” or the “Company”), ()IAN, OTCQB: ITHUF) and MPX Bioceutical Corporation ()MPX”) (cse:MPX) MPXEF, -4.40% are 

Origin House Converts Agreement with AltMed

Cannabis Investing News
Origin House (CSE:OH) announced a binding term sheet with Alternative Medical Enterprises (AltMed) to alter its agreement in order to raise its equity position in AltMed.

Neptune Wellness Solutions Inc. (NEPT) estimated to arrive at $3.15 in 1 Year period

Analysts Buzz
Neptune Wellness Solutions Inc. (NEPT) stock managed performance 16.31% over the last week and switched with performance of 25.58% throughout past one month period… 

Green Growth Brands Is Preparing Formal Offer for Canadian Pot Producer Aphria: CEO

Cheddar
Green Growth Brands has no plans to stop its takeover bid for Canadian marijuana producer Aphria. Just days after the marijuana-derived beauty and wellness company announced it will sell its products at select DSW shoe stores nationwide…

Market Watch
Green Thumb Industries Inc. (GTI) (cse:GTII) (otcqx:GTBIF), a national cannabis consumer packaged goods company…

Market Watch
TerrAscend Corp. (CSE: TER; OTCQX: TRSSF) (“TerrAscend”) today announced the closing of the previously reported asset acquisition of Grander Distribution, LLC

Market Watch
Emerald Health Therapeutics, Inc. (EMH) (“Emerald” or the “Company”) today announced that Emerald Health Sciences Inc. (the “Selling Shareholder”) has entered into a…

Market Watch
MJardin Group, Inc. (“MJardin” or the “Company”) (cse:MJAR) (otcqx:MJARF), a global leader in cannabis management, announced today that its common stock has been approved to upgrade to the OTCQX Best Market, effective immediately…

Market Watch
Apotheca Biosciences (otc pink:PCFP), a developer of cutting-edge medical products, nutraceuticals, drug formulations and cannabis delivery technologies for…

Business

Cannabis Business Booms But That Does Not Mean A Beverage …

Forbes
“Every single licensed cannabis retail location could be the nucleus of a specialty store chain that could dominate its local market, its state, …

WeedMD and BLOCKStrain Complete Industry’s First Cannabis Validation Testing Program

Market Watch
WeedMD Inc. (TSX-V:WMD) (OTCQX:WDDMF) (FSE:4WE) (“WeedMD” or the “Company”), a federally-licensed producer and distributor of medical-grade cannabis…

Medicine Man Technologies to Enter Cannabis Research and …

Cannabis Business Times
DENVER, CO / ACCESSWIRE / January 15, 2019 / Medicine Man Technologies, a consulting, IP licensing and products company in the …

Female-focused cannabis business accelerator launches first training …

Marijuana Business Daily
An Oregon-based business accelerator that’s designed to bolster the skills of female cannabis entrepreneurs, boost their opportunities and …

Global News

Market Watch
Australis Capital Inc. (cse:AUSA) (“Australis” or the “Company”) is pleased to announce the Company has invested $3,000,000 USD in Folium Biosciences…

Market Watch
Cannabis producer FoliuMed has completed the construction of its first greenhouses on a 16 hectare grow site close to Bogota. In an area spanning 20 soccer fields, FoliuMed…

US News

Market Watch
New York Gov. Andrew Cuomo is expected to lay out a plan to legalize cannabis for recreational use in New York later Tuesday, according to media reports…

Bill Filed to Expand Medical Marijuana Access in Arkansas

LITTLE ROCK, Ark. – Among the many bills being filed at the start of the session, a push to expand access to medical marijuana. Republican …

US Senators Warn Trump Administration About Excess Regulations On Hemp

In a letter to Food and Drug Administration (FDA) Commissioner Scott … of our legislation, as it was Congress’ intent to ensure that both U.S producers …

News 5 Cleveland
WINTERSVILLE, Ohio — Medical marijuana will be available in Ohio on Jan. 16, according to Cresco Labs, a medical cannabis operator who stated they will be the first dispensary…

Can Texas Build a Working Medical Cannabis Program in 2019?

While the state Legislature passed a limited medical cannabis bill in 2015, hardly anyone in Texas can currently access the drug. Only registered …

Market Watch
Canbiola, Inc. (OTCQB: CANB), is pleased to announce that Senator Ronald A. Silver has joined its Corporate Advisory Board…

California News

Caliva Partners with Best-In-Class Emulsion Technology Provider

SAN JOSE, Calif., Jan. 14, 2019 /PRNewswire/ — Caliva, The Most Trusted Brand in Cannabis, has partnered with the world’s leading nano-emulsion …

Market Watch
MJIC, Inc. (“MJIC” or the “Company”), California’s leading provider of fully-licensed cannabis wholesale distribution, retail, compliance and supply chain solutions…

Considerations For Cannabis Stakeholders In Light Of Harborside Health Center Decision

Harborside is a medical cannabis dispensary operating legally under California law and treated as a C-corporation for federal income tax purposes.

Napa’s GVM Law buds cannabis division from expertise in wine business

A Northern California law firm known for its work in the wine business and estate planning on Jan. 14 announced the start of a cannabis law division.

Canadian News

Tyendinaga Mohawk Territory pot shop reacts to Ontario cannabis lottery

Now that the Ontario cannabis lottery results have been announced, a pot shop in Tyendinaga Mohawk Territory says the new bricks-and-mortar retail …

Science News

Diamond Mining: A Photographer’s Journey Inside the Super-Shiny World of THCA Diamonds

This innate fascination with carbon diamonds is partially behind the rise of THCA “diamonds,” the latest craze in cannabis extraction and the reason …

Market Watch
CB2 Insights (“CB2” or the “Company”) a leading global provider of predictive analytics tools, data-driven software and comprehensive services across the medical…

Market Watch
Triminator, a leading international provider of cannabis and CBD hemp harvesting equipment, has announced the debut of the Triminator Kirpy CBD Hemp Harvester…

Tokers & Jokers | Cannabis Stocks Bounce Back Wednesday

Cannabis stocks bounced back Wednesday with most companies trading up. 

Green Growth Brands (OTCMKTS: GGBXF) (CSE: GGB) recently announced that the company is preparing a formal offer to acquire Aphria Inc. Green Growth closed down 3.85% on the OTC at $4.45.

After a short seller report was issued accusing the company of self-dealing, CEO Vic Neufeld resigned from his position with Aphria Inc (NYSE: APHA). Neufeld will however remain a board member. The company is entering into a class-action lawsuit in February that may further damage the company’s reputation. Aphria stock lost 0.75% sinking to $6.65.

Short sellers have been recently targeting Cronos Group (NASDAQ: CRON) arguing that the company is overvalued. In its most recent quarterly report Cronos announced a 52.04% gain. Cronos was up 2.84%% at the end of trading on Wednesday at $13.42.

Organigram Holdings Inc. (OTCMKTS: OGRMF) (CVE: OGI) announced this morning that it has entered into a partnership with Canada’s Smartest Kitchen, a leader in food product development. The two companies will develop cannabis edibles, specifically chocolate confectionery. Organigram gained 2.14% on the OTC and was trading at $4.76.

Curaleaf Holdings (OTCMKTS: CURLF) (CSE: CURA) announced the company has received a medical cannabis processing license in the state of Ohio. The company was trading down 2.2% at $5.88.

Canopy Growth Corp. (NYSE: CGC) announced it has been approved for a producer and processor license for the production and manufacturing of hemp in New York. Canopy closed Wednesday up 1.89% and was trading at $42.10.

With its share lockup period ending today, January 15, Tilray (NASDAQ: TLRY) shares were up 3.29% and trading at $85.61. Tilray announced a long-term revenue-sharing partnership with Authentic Brands Group this week, a deal worth $100M.

The Green Organic Dutchman Holdings Ltd. (OTCMKTS: TGODF) (TSE: TGOD) was trading up 1.76% at $2.26.

Innovative Industrial Properties Inc. (NYSE: IIPR) ended the day trading down 0.057% at $52.84.

Aurora Cannabis (NYSE: ACB) announced Monday the acquisition of Whistler Medical Marijuana Corp. in an all stock purchase worth $175M. The company expects to report somewhere between $50M to $55M for the quarter that ended Dec. 31, 2018. Aurora jumped 4.97% and as trading at $9.72.

With a 28.57% gain in the last four weeks Neptune Wellness Solutions (NASDAQ: NEPT) lost 2.38% and was trading at to $3.69.

Recently announcing a $67M acquisition which will allow Acreage to enter the Florida market, Acreage Holdings Inc. (OTCMKTS: ACRGF) (CNSX: ACRG.U) was up on the OTC by 0.82% and trading at $23.45 at the end of the day.

Thailand has given GW Pharmaceuticals (NASDAQ: GWPH) and its partner Otsuka Pharmaceuticals patent pending status for specific cannabis extracts produced by the company. GW Pharmaceutical was up 0.054% Wednesday and trading at $128.61.

Hexo Corp. (OTCMKTS: HYYDF) (TSE: HEXO) recently appointed Veronique Hamel as its Chief Innovation Officer. Hexo ended the day up on the OTC by 2.43% and trading at $4.67.

Treehouse Real Estate Investment Trust recently announced it has raised $133M to acquire properties from MedMen Enterprises Inc (OTCMKTS: MMNFF) (CNSX: MMEN). MedMen recently responded to allegations of breaching fiduciary duties and enriching themselves at the expense of shareholders. Shares of MedMen were down 0.15% on the OTC and trading at $3.07.

MJardin Group Inc. (OTCMKTS: MJARF) (CSE: MJAR) plunged 9.13% at $3.14.

Flowr Corp. (OTCPK:FLWPF) was down 2.54% at the end of the day, settling at $3.07.

After the announcement that the first legal cannabis sales will commence as early as next week, According to Cresco Labs (OTCMKTS: CRLBF) (CSE: CL) legal cannabis sales will begin in Ohio via the company’s dispensary. Cresco was up 2.55% on the OTC and trading at $6.79.

Auxly Cannabis Group Inc. (OTCMKTS: CBWTF) was granted an “outperform” rating from AltaCorp. The company was down 0.11% to $0.71.

iAnthus Capital Holdings (OTCMKTS: ITHUF) announced it has acquired all issued and outstanding shares of MPX Bioceutical Corporation. iAnthus lost 1.77% and was trading at $4.42.

Despite a 70% gain in 2019 Namaste Technologies Inc. (OTCMKTS: NXTTF) (TSXV: N) was trading up 3.81% on the OTC at $1.05.

MariMed Inc (OTCQB: MRMD) announced that it is forming MariMed Hemp Inc. as a subsidiary that will handle hemp-derived CBD product branding and production. MariMed closed the day up 6.15% at $3.80.

MediPharm Labs (TSXV: LABS) (OTCQB: MLCPF) recently announced a multi year cannabis extraction agreement with TerrAscend. MediPharm also began trading on the OTC Monday under ticker “MLCPF”. MediPharm was up 1.48% at $1.52 at the close of trading.

Sunniva Inc (CSE: SNN) (OTCQB: SNNVF) was trading down 1.86% at $3.17.

Golden Leaf Holdings Ltd (CSE: GLH) (OTCQB: GLDFF) was down 3.72% and trading at $0.12.

CannTrust Holdings Inc. (OTCMKTS: CNTTF) (TSX: TRST) climbed 4% on the OTC, trading at $6.24.

Origin House (OTCMKTS: ORHOF) (CNSX :OH) announced a binding term sheet with Alternative Medical Enterprises to alter its agreement in order to raise its equity position in the company. Origin House was down 1.34% and trading at $5.63.

New Age Beverage Co. (NASDAQ: NBEV) announced the signing of an agreement to develop and distribute Bob Marley branded cannabis infused beverages. New Age was down 6.35% and trading at $6.64.

Horizons ETFs Management Canada Inc. (TSE: HMMJ) gained 0.95%% and was trading at $18.07.

The Horizons Marijuana Life Sciences Index ETF (OTC: HMLSF) also gained 0.47% and trading at $13.54.

ETFMG Alternative Harvest ETF (NYSEARCA: MJ) was trading up 1.32% at $30.68.

The North American Marijuana Index tracks the leading cannabis stocks in the US and Canadian Sectors. The Index lost 1.47% and trading at $256.48