Daily Cannabis News Roundup | January 10, 2018

HighLights

Marijuana Moment
Rep. Earl Blumenauer filed a bill on Wednesday to remove marijuana from the federal Controlled Substances Act. In a nod to marijuana culture, it has the official designation of H.R. 420.

MedMen Enterprises Releases Response to ‘Shareholder Lawsuit’

MedMen
On January 8th, two early investors in MMMG, LLC, a precursor company to MedMen Enterprises Inc. (“MedMen” or the “Company”) (CSE: MMEN) (OTCQX: MMNFF) (FSE: A2JM6N) filed a complaint in Los Angeles Superior Court alleging unfair treatment regarding the disposition of their investment in MMMG.

Want to Short Tilray? Get Ready to Pay 900% for the Privilege

Bloomberg
The cost to finance a new short position in the cannabis company soared to as high as 900 percent on Wednesday, data by financial analytics firm S3 Partners LLC show…

Stocks

TOKERS & JOKERS | TOP ANALYST INITIATES COVERAGE ON CANNABIS SECTOR, STOCKS SOAR

The Morning Blunt
Aphria Inc (NYSE: APHA) is scheduled to release its earnings report for Q2 2019 on January 11. Investors should handle this stock with extreme care — Aphria is en…

Canopy Growth surges more than 10% as it gets another backer on Wall Street

CNBC
Piper Jaffray initiated coverage on cannabis producers, joining a short — but growing — list of Wall Street brokerages watching the industry. Bullish on Tilray (NASDAQ: TLRY) and Canopy Growth…

JP Morgan Jumps Onto Marijuana Stock Bandwagon with GW Pharmaceuticals

Cannabis Now
The time to buy stock in GW Pharmaceuticals, the UK-based company that produces FDA-approved cannabinoid-based medicines to treat epilepsy and other disea…

Aphria Earnings Preview: What To Expect On January 11

Seeking Alpha
Aphria (APHA) will announce its fiscal 2019 second quarter results on January 11, 2019. The company has been embroiled in a series of events including the QCM/Hindenburg short attack and the recent hostile…

PR News Wire
Aphria Inc. (“Aphria” or the “Company”) (TSX: APHA and NYSE: APHA) announced today that it has completed its first shipment of medical cannabis to Shoppers Drug Mart (“SDM”).

Aurora Cannabis (ACB) Receives a Rating Update from a Top Analyst

Smarter Analyst
Yesterday, an analyst has provided a rating update for the Healthcare company, Aurora Cannabis (ACB). GMP FirstEnergy’s analyst Martin Landry reiterates their Hold rating on the shares, with a C$7.50 price target.

KushCo Reports 186% Year-Over-Year Revenue Growth, Bottom Line Loss In Q1

Benzinga
KushCo Holdings Inc KSHB 2.52%, a provider of ancillary products and services to the cannabis industry, reported Q1 results after the close Tuesday. Although the company’s revenue almost tripled over the year, its bottom line turned negative.

Pot Network
Earlier this week, the North American Marijuana Index conducted its quarterly rebalancing, adding a total of 12 new companies to the Index, with 10 going to the United States Marijuana Index and two attached to the Canadian Index.

Auxly Announces Completion of Inverell S.A. Acquisition

Globe News Wire
Auxly Cannabis Group Inc. (TSX.V: XLY) (OTCQX: CBWTF) (the “Company”) is pleased to announce that, further to its previous releases, it has completed the acquisition of 80%…

Liberty Health Sciences Is Back On It’s Feet and Ready To Expand In 2019

Technical 420
One company that we have been especially favorable on is Liberty Health Sciences (LHS.CN) (LHSIF) and this is a company that investors should be watching.

SUPREME CANNABIS RECEIVES CONDITIONAL APPROVAL TO LIST ON THE TORONTO STOCK EXCHANGE

Supreme Cannabis
The Supreme Cannabis Company, Inc. (“Supreme Cannabis” or the “Company”) (TSXV: FIRE) (OTCQX: SPRWF) (FRA: 53S1) announced today that it has received conditional approval from the Toronto Stock Exchange

WeedMD CEO Keith Merker on Cheddar Live in New York to chat about cannabis in 2019

WeedMD
WeedMD CEO Interview with Cheddar Live from New York Stock Exchange NYSE 2019…

Marijuana Stocks Technical Analysis Chart 1/9/2019 by ChartGuys.com

 

The Chart Guys
Technical chart analysis for the cannabis sector on January 9, 2018.

Origin House (CNSX:OH) President Discusses Recent Hostile Takeover Attempt and Shareholder …

Hasan addresses the difficulties cannabis companies face in California with regards to the lingering illicit market and the repercussions of price …

Colombian Cannabis Cultivator PharmaCielo to Debut on TSX Venture

In preparation for PharmaCielo’s transition to commercial-scale production and sale of cannabis oil extracts and concentrates in 2019, the Company ..

Applied BioSciences Acquires Majority Stake in Cannabis Testing Firm

Although the health benefits of Cannabis and CBD are becoming well … Trace Analytics Inc. is a leading cannabis science and technology company …

Business

BNN Bloomberg
Canadians are paying nearly 50 per cent more for their legal cannabis when compared to illegal sources, according to an analysis of price quotes by Statistics Canada on Wednesday…

Legal Cannabis Raises $10 Billion in Investments in 2018

According to New Frontier Data, investors made $10 billion dollars of investments into the cannabis industry in North America in the past year alone.

Canada’s largest banks are betting big on weed

It’s a sign that Canada’s top banks are “open for business” in the marijuana industry, said Chuck Rich, a partner at the law firm Cassels Brock …

Meet the top lawyers who’ve worked on some of the biggest deals in the booming marijuana …

With the rapid spread of marijuana legalization in the US, lawyers are …. The firm has made a push to grow its presence in California, and cannabis …

Pasadena consulting firm brokers international cannabis agreement

“Cannabis cultivation has a problem, a big problem — the electric bill!” Kern said in a November 2018 article in Cannabis Science and Technology …

Global News

Asia’s budding interest in corporate cannabis

Thailand is slated to become the region’s first country to allow the medical use of marijuana after a military-appointed legislative assembly vote on …

US News

New Congressional Cannabis Caucus Takes Shape

“The Cannabis Caucus was the first of its kind to create a forum for elected officials to collaborate on ways to address our outdated federal marijuana …

Arizona Supreme Court Will Hear Cannabis Extracts Case

The Arizona Supreme Court will take up the open question of cannabis extracts’ status under the state’s medical marijuana law, as Arizona v.

Democratic Congressman Says This Will be the Most Pro-Marijuana Congress Ever

Many people are hoping that Congress will begin pushing more pro-marijuana legislation now that Democrats are in control of the House of …

Marijuana Moment
Marijuana would be legalized in Virginia under a bill that was introduced on Tuesday. It’s one of more than 10 pieces of cannabis-related legislation that lawmakers in the commonwealth could consider this legislative session.

Massachusetts Cannabis Control Commission advisory panel OKs pot cafes and delivery

A Cannabis Control Commission subcommittee voted to recommend that pot cafes and weed delivery vans be allowed despite reservations of some …

Medical marijuana gets new push in Kentucky from Republican lawmakers

Medical marijuana supporters plan to file their latest bill in the Kentucky legislature Wednesday, in hopes of joining 33 other states that allow cannabis …

First Ohio medical marijuana sales expected next week – if all goes according to plan

Ohio’s first medical marijuana sales could happen at the end of next week – provided everything happens as planned. Medical marijuana has been …

California News

California Cannabis Licensing Rolls Into New Phase With New Year

The arrival of 2019 brought changes in the California cannabis licensing process, the potential for Santa Barbara County cannabis ordinance …

California Cannabis Advisory Committee Publishes 2018 Annual Report

California’s Cannabis Advisory Committee (CAC) recently published their full 2018 Annual Report to the Bureau of Cannabis Control’s website.

Canadian News

Canada’s pot shortage could last up to 3 years, executives warn

BNN Bloomberg
Canada’s pot shortage could last as long as three years, according to industry executives who say production estimates are too rosy.

Science News

Canopy Growth’s $3 million professorship looks to solve the opioid epidemic with cannabis — but it …

(TSX:WEED) (NYSE:CGC) recently announced the first Professor of Cannabis Science at the University of British Columbia, made possible by a $2.5 …

Purdue Researchers Tackle Cannabis Industry’s Pesticide Problem

Cannabis Business Times: Can you describe some of the problems that the lack of federal pesticide regulations presents to hemp and cannabis …