The Morning Blunt
Volume 3| Issue 15
November 15 , 2018
“Don’t let yesterday take up too much of today.“
Wednesday CannTrust Holdings Inc. (OTCMKTS: CNTTF) released its third quarter earnings report and announced the company’s intention to list on the NYSE. BNN Bloomberg’s David George Cosh breaks down the numbers for investors.
Wednesday Proactive Investors’ Lenore Fedow issued her Buds and Duds report showing Innovative Industrial Properties (NYSE: IIPR) was one of the only gainers on the North American Marijuana Index, climbing 4% to $47.02 during afternoon trading. ICC International Cannabis Corp (CSE: WRLD) (OTCMKTS: KNHBF) rallied in the US and Canada though no news was issued, and the company is unaware of a reason for the rally.
Tilray (NASDAQ: TLRY) and Cronos Group’s (NASDAQ: CRON) earnings reports are reflects cannabis sale prices are falling. Both companies released their earnings reports this week. Investor Business Daily’s Bill Peters gives a brief synopsis on how these companies closed out their quarters.
In its first earnings report since the legalization of cannabis in Canada, Aurora Cannabis (NYSE: ACB) exceeded expectations. As revenues soared Aurora expanded gross margins while adding thousands of patients to its customer base. Aurora has the potential to double its output in a short period of time, however it’s a stock to consider for the long term.
Puration Inc (OTCMKTS: PURA) is skyrocketing up the charts after the company reported revenues up 400% to $863,300 over a nine-month period ending September 30, 2018. The company also said no additional shares have been issued in its most recent quarter.
Captor Capital (CSE: CPTR) (USOTC: NWURD) announced the company has successfully completed the acquisition of Mellow Extracts LLC, which will produce ultra-premium oil in an extraction facility in Costa Mesa California.
Thailand’s medical marijuana bill, drafted by the National Legislative Assembly, cleared the cabinet yesterday. The greenlight comes with a stipulation to review legalization after five years. The next step in Thailand’s legalization of medical cannabis is to send the bill back to the NLA for further deliberation and review from the Council of State, the Public Health Ministry, and the Office of Narcotics Control Board. The bill does not seek to reschedule cannabis as a lesser narcotic, but it does seek to reschedule kratom.
On November 2, California Superior Judge David Cohn struck down most of Fontana’s cannabis cultivation ordinance, including restrictive provisions that included high permit fees and a requirement that anyone who wanted to grow cannabis must submit to an official inspection of their home.
GB Sciences Inc. (OTCQB: GBLX) announced it has signed a binding letter of intent with Oklahoma’s 4EVERGRN LLC in its first out of state licensing deal. The company was awarded cultivation, processing, and dispensary licenses by the Oklahoma Medical Marijuana Authority.
California’s Bureau of Cannabis Control’s proposed regulations, which are expected to go into effect early 2019, would restrict white labeling, a point of entry to the market for small businesses without licenses. Critics of the proposal say the regulations are unnecessary, over reaching, and favors larger businesses.
The exclusive provider of Doug’s Varin, a highly concentrated THCV formulation from California Cannabinoids Inc., announced the launch of their THCV-rich vape pens for the California Market at select dispensaries. California Cannabinoids made the announcement at the MJBiz Con 2018.
Debuting at the MJBiz Con November 14, 2018 in Las Vegas, KushCo Holdings Inc. (OTCQB: KSHB) announced it has entered into an exclusive partnership with JSP Portinox to facilitate the delivery of ultra-pure hydrocarbons and solvents in state-of-the-art stainless-steel gas cylinders through the Kush Energy Division.
Atlas Growers, a licensed producer with ties to St. Albert, recently acquired 20% of Falvocure Biotech, a US company researching the medicinal properties of cannabis for cancer treatments. The company plans extracting flavonoids from cannabis and shipping them to Falvocure for further research.
In an effort to chart the many unanswered questions surrounding cannabis use and patients with liver disease, director of the Viral Hepatitis Center at University of California San Francisco, Norah Terrault MPH, MD discusses cannabis use with MD Magazine.