YCBD announced the sponsorship of controversial golfer Patrick Reed
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 develop in 2021.
Investor interest in the cannabis industry is growing at an explosive rate of growth, 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.
Here’s a quick recap of this week’s top cannabis stock news:
Canopy Growth Corporation (NASDAQ: CGC) and The Supreme Cannabis Company announced on April 8 that they entered into a definitive agreement that Canopy Growth will acquire approximately $ 435 million in total dilution from Supreme Cannabis.
cbdMD, Inc. (NYSE: YCBD), one of the leading and most trusted and recognized cannabidiol (CBD) brands, announced On April 8th, the company signed an exclusive CBD sponsorship with the highly decorated but controversial professional golfer and 9-time PGA TOUR winner Patrick Reed to become the newest high profile member of the cbdMD team.
FSD Pharma Inc. (NASDAQ: HUGE) receive a letter of appeal by FSD on April 5th related to the Ontario Supreme Court decision of March 5th. The decision directed FSD Pharma to postpone the date of the previously convened general meeting from June 29 to May 14 and to retain an independent chairman to chair the meeting and to prevent directors from voting for recently issued shares.
Another law firm, Rigrodsky Law, PA and Monteverde & Associates PC, announced on April 5th that the companies are investigating both Greenlane Holdings, Inc. (NASDAQ: GNLN) regarding possible fiduciary violations and other violations of law in connection with Greenlane Holding’s agreement to merge with KushCo Holdings.
Organigram Holdings Inc. (NASDAQ: OGI), a leading cannabis producer, announced On April 6, Organigram Holding had acquired all of the issued and outstanding shares of Edibles & Infusions Corporation (“EIC”) for consideration of US $ 22.0 million and up to US $ 13.0 million in shares attributable to EIC milestones were paid out with the business achieving a certain profit.
Innovative Industrial Properties, Inc. (NYSE: IIPR), the first and only real estate company on the New York Stock Exchange focused on the US regulated cannabis industry, announced On April 5, the company amended the lease with a subsidiary of Jushi Holdings Inc. at its Scranton, Pennsylvania, grower processing facility and allocated an additional $ 30.0 million to complete the expansion of the existing 89,000-square-foot building 40,000 square feet Extension of the plant.
Later in the week Innovative Industrial Properties, Inc. (NYSE: IIPR) announced As of April 5, IIPR owned 68 properties in Arizona, California, Colorado, Florida, Illinois, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Jersey, New York, North Dakota, Ohio, Pennsylvania, Texas, Virginia, and Washington approximately 6.0 million total rentable square feet (including approximately 2.2 million rentable square feet under development) that are 100% weighted-area let. average remaining rental period of approx. 16.7 years.
HEXO Corp (NYSE: HEXO) brought to life The newest brand on April 6th is called Bake Sale. Bake Sale offers Canadian consumers one of the lowest prices per gram in the country, in some cases as much as 20% less than competitor products.
Akerna (NASDAQ: CORE)On April 6, Akerna announced that Akerna had completed the acquisition of Viridian Sciences, a software for the management of cannabis, based on SAP Business One.
Sundial Growers Inc. (NASDAQ: SNDL)On April 6, Sundial announced that Sundial had entered into a manufacturing agreement with Stigma Grow to manufacture a variety of Sundial’s Hydrocarbon Concentrates (BHO).