Tilray is also starting a new product collaboration with Broken Coast Cannabis
Welcome back to our weekly series, Schaeffer’s Cannabis Stock News Update, where we round up what happened in the world of marijuana stocks last week and take a look at 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 United States. By the end of 2020, more than 40 US states had legalized recreational and / or medical marijuana. Now companies see the opportunity in cannabis cultivation, marketing, distribution and technology.
This week an important Senate committee by an overwhelming majority approved a proposal that allows the use of medical marijuana in North Carolina under certain conditions and also establishes a state network for its supply and distribution. This was a historic vote as no North Carolina Senate committee has ever voted on medical marijuana. While a House Committee rejected a proposal in 2015, no bill had been negotiated in any of the chambers until this bipartisan vote.
Here’s a quick recap of this week’s top (and actionable!) Cannabis stock news:
Apple Inc (NASDAQ: AAPL) made a major Cannabis parade this week. The technical issue Updated its app store guidelines, which allow marijuana-focused apps as well as pharmacies to qualify for a store listing. Especially, Alphabet Inc (GoogL) hasn’t updated its ban on pot-related apps from the Google Play Store.
22nd Century Group, Inc. (NYSE: XXII), a leading plant-based biotechnology company focused on cannabis research, announced on July 1, it signed a definitive agreement to restructure its strategic stake in Panacea Life Sciences in line with the ongoing development of the company’s strategic partnership network.
cbdMD, Inc. (NYSE: YCBD) announced the completion of its accepted public offering for total gross proceeds of $ 16,500,000, prior to subscription discounts, commissions, and other issuing costs payable by the Company on July 1. In addition, the weed company sold a total of 2.2 million shares of its 8% Cumulative Series A Convertible Preference Stock, including 286,900 shares which will be sold at $ 7.50 per share if the greenshoe is fully exercised.
The shares of Coffee Holding Company (NASDAQ: JVA), a company that has a 49% stake in The Jordre Well incubator for hemp and CBD beverage brands were in the spotlight last week. The Company announced It acquired a building and surrounding land in La Junta, Colorado that has housed its roastery since 2005.
GrowGeneration Corp. (NASDAQ: GRWG) announced on June 28 that he became a member of the US Small Cap Russell 2000 Index (RUT) as part of the Russell Index recompilation in 2021. RUT membership, which lasts a full year, is based on broad membership in the Russell 3000 Index (RUA).
June 28th HEXO Corp (NYSE: HEXO) announced that it would complete the previously announced transaction to purchase its first US manufacturing facility through a wholly owned US subsidiary. The approximately 50,000 square foot facility in Colorado will provide CPG businesses and consumers with access to Powered by HEXO technology and products.
Tilray, Inc. (NASDAQ: TLRY), a leading global cannabis lifestyle and CPG name, distributed a June 29 proxy statement containing an open letter from Chairman and Chief Executive Officer Irwin Simon. The letter asked for support for several proposals to be voted on at a special meeting with Tilray shareholders on July 29th. Plus, Tilray has announced On June 30th, its subsidiary SweetWater Brewing Company started a new product cooperation with the leading craft cannabis brand Broken Coast Cannabis.
Village Farms International, Inc (NASDAQ: VFF) announced on July 1 that its wholly-owned subsidiary Pure Sunfarms received a change from Health Canada to its grow license for its 1.1 million square foot Delta 2 greenhouse. This enables the company to grow cannabis immediately in half of the Delta 2 facility that has completed the transition to cannabis production.
based in Florida Psilera Inc. announced on July 2nd secured $ 2.5 million in funding for research, recruitment of scientific and clinical personnel, and general employment purposes. The company issued around 4.3 million shares to private buyers at 57 cents per share. Developed a patent-pending DMT transdermal patch that is being evaluated in a Phase 1b clinical trial, Psilera said on LinkedIn that it is committed to “leveraging its research power under the guidance of executives in the pharmaceutical and cannabis industries, to develop a first class product “. IP portfolio of psychedelic analogues. ”