Daily Cannabis News Roundup | February 5, 2019

HighLights

Green Market Report
MedMen Enterprises Inc. (MMNFF) is facing a new lawsuit from the company’s former Chief Financial Officer James Parker. Parker filed his case on January 29 in the Superior Court of California in the County of Los Angeles claiming wrongful termination for an undetermined amount of damages.

New Cannabis Ventures
Namaste Technologies Inc. (“Namaste” or the “Company”) (TSXV: N) (FRANKFURT: M5BQ) (OTCMKTS: NXTTF) announced today that, following a recent expression of interest in the Company, the Board of Directors of the Company (the “Board”) has launched a strategic review process to consider all value-maximizing alternatives...

Benzinga
Rumors of another federal shutdown notwithstanding, 2019 is poised to be a watershed year for cannabis reform potentially enabling a $56 billion annual U.S. cannabis market by 2025. Those were among the findings shared last week during a National Press Club event sponsored by New Frontier Data in Washington, D.C...

High Times
We’ve all heard of THC. Whether it’s for pain, sleep, anxiety or a creative kick, more people are turning to cannabis as a natural remedy and a way to enhance life. With the recent legislation in Canada and the passing of the farm bill in the US, it seems things are finally turning up for cannabis users...

Stocks

The Morning Blunt
Canna stocks started the week strong with most US and Canadian cannabis companies seeing green on Monday. Last week, Green Growth Brands (OTCMKTS: GGBXF) (CSE: GGB) announced that it was entering the Arizona cannabis market...

Bloomberg
Canada's main stock index reached its highest level in four months Monday on a big surge in cannabis stocks. The S&P/TSX composite index closed up 96.01 points at 15,602.32 after hitting an intraday peak of 15,606.34. That's the highest level since Oct. 8...

Investopedia
Aurora Cannabis Inc. (ACB) shares rose more than 10% during Monday's session, breaking out from prior resistance at around $7.50 to fresh reaction highs. Call option volume outpaced put option volume ten to one in early trading

Chart Guys
Technical analysis for US cannabis stocks on Feb. 4, 2019...

Zacks
Shares of several notable cannabis stocks, including Aurora Cannabis and Cronos Group (CRON), were up more than 10% through early afternoon trading hours Monday on the back of continued industry deal making.

Canaccord Genuity
We are raising our target for Khiron to C$5.00/sh from C$3.40/sh following our facility tour and the company's JV with Dixie Brands and acquisition of NettaGro...

Market Watch
Canopy Rivers Inc. (RIV) ("Canopy Rivers" or the "Company") is pleased to announce that it has entered into an agreement with CIBC Capital Markets ()CIBC") and Eight Capital ()Joint Bookrunners"), under which the Joint Bookrunners have agreed to purchase, together with a syndicate of underwriters...

Business Insider
Aurora Cannabis surged more than 9% to $8.10 a share Monday after announcing that its extraction-technology partner Radient Technologies has received its Standard Processing License from Health Canada. Shares are trading at their highest level since November 7...

Market Watch
Captor Capital Corp. ("Captor" or the "Company") (frankfurt:NMV)(stuttgart:NMVA)(usotc:NWURF), a cannabis-focused investment company, is pleased to announce that it has sold its two MedMen branded retail operations in southern California to MedMen for USD$31,255,353 pursuant to a stock purchase agreement entered into on January 9, 2019...

Benzinga
Investors in GW Pharmaceuticals PLC GWPH 0.33% may need to sit through some short-term volatility as sales of the company's newly approved drug ramp up slowly because of insurance coverage issues, says the author of The 420 Investor.

Benzinga
After nearly a year of litigation, Trulieve Cannabis Corp. (CSE:TRUL) has won a suit alleging the statutory caps on the number of dispensaries permitted for each licensed medical marijuana treatment center were unfairly and wrongly added by the state legislature after voters approved the Florida Medical Marijuana Legalization Initiative ("Amendment 2") in 2016.

News Wire
CannaRoyalty Corp. d/b/a Origin House (CSE: OH) (OTCQX: ORHOF) ("Origin House" or the "Company"), a leading North American cannabis products and brands company, today announced that that the Company has entered into an agreement (the "Agreement") to provide strategic financing of US$704,000 to Humboldt's Finest...

Markets Insider
FSD Pharma Inc. (CSE: HUGE) (OTCQB: FSDDF) (FRA: OK9) ("FSD Pharma" or the "Company") would like to congratulate High Tide Inc. ("High Tide") for entering into a letter of intent with a winner of one of the 25 opportunities...

Global News Wire
Canopy Rivers Inc. (the “Company” or “Canopy Rivers”) (TSXV: RIV) is pleased to announce that it has completed a subsequent $9.4 million equity investment in its portfolio company Canapar Corp...

News Wire
C21 Investments Inc. ("C21 Investments" or the "Company") (CSE: CXXI) today announced that it has completed the acquisition of Phantom Venture Group LLC and Phantom Brands, LLC of Oregon...

Market Watch
The Company is pleased to announce the appointment of Mr. Allan Cleiren, who is Chief Operating Officer of Aurora Cannabis Inc. (ACB) ACB, +8.65% and a Director of Hempco Food & Fiber Ltd., to Radient's Board of Directors...

Midas Letter
WeedMD Inc (CVE:WMD) (OTCMKTS:WDDMF) (FRA:4WE) CEO Keith Merker shows viewers the company’s Strathroy operation. The facility sits on 98 acres of land with 14 acres of greenhouse space...

News Wire
Navdeep Dhaliwal, CEO and Director, The Supreme Cannabis Company, Inc. (FIRE), joined Michael Kousaie, Vice-President, Strategy and Product Innovation, Toronto Stock Exchange and TSX Venture Exchange, to open the market...

Business

CNBC
Goldman Sachs star beverage and tobacco analyst Judy Hong was hoping to do some early research into the multibillion-dollar cannabis industry — that is, until she was stopped by the investment bank's firewall blocking certain content.

Global News Wire
According to New Frontier Data, there are an estimated 272 million cannabis consumers globally, equivalent to 4% of the world‘s population; and more importantly, these consumers collectively spend approximately $356 billion each year on cannabis across legal and illicit markets...

CNBC
As more states legalize cannabis usage, the industry that provides the drug has gotten a burst of confidence in its long-term prospects and is rapidly expanding...

Daily Bruin
The legal cannabis industry is going to be enormous, no matter how you measure it. Not only are there retailers, cultivators and manufacturers, but there are also testing labs, attorneys, technology companies and a laundry list of different businesses vying for success...

Vice
As a growing number of states legalize medical and recreational marijuana, the potential for unionization in the industry is growing. As Hayley Fox wrote in a recent piece for VICE, this could not only usher in a sea change for how the cannabis industry does business—it could also help bolster the strength of the labor movement as a whole...

Cannabis Industry Journal
Whether you’re a small business owner or a production manager of a large manufacturer, if you’ve ever experienced problems with your product labels you know it can quickly turn into a serious issue until that problem is resolved...

Global News

Financial Review
Some time in the future, when smoking a joint is as socially and legally acceptable as lighting up a cigar, Harvard Business School will probably write a case study of the world's leading cannabis producer...

Guam Daily Post
Gov. Lou Leon Guerrero said she is in support of new legislation that promises to legalize adult use of marijuana and marijuana products...

Dispatch Live
SA’s medicines regulator has warned consumers that all the medical products containing cannabis on the local market are illegal, as none have been registered with the authorities...

US News

Marijuana Moment
Rep. Tulsi Gabbard (D-HI) had some strong words of criticism for the criminal justice system and the pharmaceutical industry during her formal presidential campaign launch speech on Saturday...

Tennessean
A Republican lawmaker introduced a comprehensive bill Monday that would allow Tennesseans suffering from a variety of maladies to use medical marijuana. The legislation, introduced by Sen. Janice Bowling, is dubbed the "Tennessee Medical Cannabis Act."

Marijuana Business Daily
A judge has struck down Florida’s medical marijuana dispensary cap, a victory for existing operators seeking to expand locations in the fast-growing market...

Seattle Times
DETROIT (AP) — Health and industry experts in Michigan are raising concerns about caregiver-produced medical marijuana following the discovery of more than 50 pounds (23 kilograms) of contaminated product...

My Champlain Valley
Vermont's top law enforcement official says he wants a tax and regulated system for pot...

KXII
Larkin says the store has been selling CBD products at its Ardmore location for a year and became a licensed dispensary three months ago...

Press Herald
The Portland City Council on Monday postponed a vote to establish zoning rules for marijuana-related businesses. The postponement came at the request of City Councilor Belinda Ray, who planned to offer two amendments but missed the meeting because of an illness. The council rescheduled the vote for Feb. 20...

Marijuana Moment
Pennsylvania Rep. Jake Wheatley (D) and 25 cosponsors filed a bill on Monday to legalize marijuana in the state. The legislation would allow adults 21 and older to possess, consume and cultivate cannabis, as well as purchase it from licensed retailers.

California News

Sacramento Bee
Unfriendly banks, high taxes and black-market competitors are some of the obstacles that licensed cannabis companies say hold them back as they try to cultivate a new industry in California...

Times Standard
State legislators are taking a swing at the cannabis black market, introducing legislation that aims to bring taxation issues under control. Lawmakers are also bringing back legislation to create a cannabis bank and regulations on counties of origin...

Canadian News

CBC
A P.E.I. cannabis producer says it's developing new packaging that will be better for the environment after receiving complaints from customers...

Marijuana Business Daily
New Brunswick’s cannabis wholesaler is receiving a fraction of the 352 cannabis products licensed cultivators agreed to supply the province on a regular basis, new data shows...

Winnipeg Free Press
At least two different licensed cannabis stores in Alberta are offering certain varieties of marijuana at significant discounts, despite an ongoing shortage of legal weed at the retail level across Canada...

Science News

News Wire
Crescita Therapeutics Inc. ("Crescita") (TSX: CTX), a Canadian commercial dermatology company and Tetra Natural Health (NHP), a subsidiary of Tetra Bio-Pharma, a leader in cannabinoid-derived drug discovery and development...

Leafly
According to the 2019 study from Forensic Science International, dabbing is significantly more efficient at delivering cannabis’ main active ingredient—THC—compared to other inhaled methods like burning a joint or a pipe bowl...

Business Insider
TORONTO (Reuters) - The unlikely combination of freshwater fish and cannabis is producing outsized medical marijuana crops that Green Relief Inc aims to capitalize on, as the Canadian company plots a stock market listing and global expansion...

Healio
In patients with HIV, long-term marijuana smoking is associated with lung disease independent of tobacco smoking, according to study findings...

Medical Xpress
The vast majority of strokes occur in people over 65, but the number of younger adults having strokes is rising. New research suggests growth in illegal drug use could be playing a role...