OGI launched a new range of products this week
Welcome back to our weekly series, Schaeffer’s Cannabis Stock News UpdateHere we round up what happened in the world of marijuana stocks last week and look ahead to how the cannabis industry will evolve in 2021.
Investor interest in the cannabis industry is growing explosively, and leading players continue to break legal barriers after legal barriers, particularly in the US. By the end of 2020, more than 40 US states had legalized recreational and / or medical marijuana. Now more and more companies are seeing the possibility of growing, marketing, distributing, and technology cannabis.
A bill to investigate the therapeutic effects of psilocybin and MDMA has been tacitly published in adjacent previously illegal drug news advance by the Texan legislature. The bill, introduced in February by Texas State Representative Alex Dominguez, aims to instruct the Department of Health and the Texas Medical Board to study psilocybin, MDMA, and ketamine for the treatment of post-traumatic stress disorder (PTSD) and other diseases. The bill was passed by parliament earlier this month. On May 19, the bill received 5-0 approval from the Senate Veterans Affairs and Border Security Committee.
Here’s a quick recap of this week’s key news about cannabis stocks:
Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) announced On May 19, the Board of Directors granted 22 new employees incentive stock options to purchase a total of 74,905 common shares and 32,050 limited liability shares (“RSUs”) on May 15.
Aurora Cannabis Inc. (NYSE: ACB), the Canadian company that defines the future of cannabinoids worldwide, submitted brochure May 20 addition to the establishment of a new at-the-market share program that will allow the Company to issue up to $ 300 million of ACB common stock from time to time from the Treasury Department to the Company’s public to sell discretion.
Canopy Growth Corp. (NYSE: CGC) announced On May 21, the company deepened its relationships with Martha Stewart, Maven’s consumer goods company and CBD brand leader, as the company’s official strategic advisor. CGC announced that Stewart has been named official strategic advisor to the company. Martha Stewart is the founder of Martha Stewart ‘Living Omnimedia’. Their branded products can be found in more than 70 million US households.
Innovative Industrial Properties, Inc. (NYSE: IIPR) announced On May 19, the IIP Operating Partnership, LP announced a private offer of $ 300 million with a total principal of 5.50% senior notes maturing in 2026. The Notes mature on May 25, 2026. Interest on the Notes is payable semi-annually on May 15th and November 15th of each year, with the first payment being made on November 15th of that year.
Neptune Wellness Solutions Inc. (NASDAQ: NEPT), a diversified and fully integrated health and wellness company focused on herbal products, announced On May 17th, Richard Schottenfeld resigned from his position as managing director of the company with immediate effect for personal reasons.
Organigram Holdings Inc. (NASDAQ: OGI), a leading licensed cannabis producer, announced the launch of Big Bag o ‘Buds, a range of dried flower products with a list of known genetics and an exciting rotation of One-Time Offerings (OTO) in 28g format on May 18th.
Petalfast, a sales and marketing agency for the cannabis industry, announced Completion of the $ 2.8 million capital increase directed by Merida Capital Holdings on May 20. Petalfast plans to use the proceeds to expand its client portfolio and strengthen its role in helping established and emerging cannabis brands achieve faster, longer-term goals. Maturity growth.
Tony Venosa, Senior Market Strategist at Schaeffer’s Investment Research, will present at Benzinga’s Virtual Cannabis Capital Conference from June 3rd to 4th. Schaeffer invites all readers to join Tony and learn more about what cannabis stocks the Schaeffer trading team is watching.