Starting this week, The Seed Investor will provide its audience with a new feature. Every Friday, we’ll publish This Week in Cannabis Investing.
“Cannabis” news is coming at investors from all directions.
There’s political news. There’s regulatory news. Acquisitions. Product announcements. Financings. New technology. New brands. New patents. New markets.
This is TSI’s wrap-up of all major cannabis corporate and industry news. This includes news releases from your favorite North American cannabis stocks. We’ll also recap all of the week’s TSI Exclusives as well as updating investors on any news from the feature companies that The Seed Investor is currently tracking.
It’s everything TSI has published this week, indexed by day.
This week this is what caught our eye…
Monday, we reported on Canadian-based WeedMD receiving licensing for outdoor cannabis cultivation. We also drew attention to two parallel pieces of news on the legal/political front. A US Court of Appeals has reinstated a lawsuit against the federal government and the DEA. The plaintiffs are alleging that criminalizing marijuana as a Schedule 1 drug is unconstitutional. We also highlighted the pending political battle as the Mayor of Washington, D.C. announced a plan for cannabis retailing in Washington. Congress currently prohibits such cannabis commerce in the District of Columbia. Finally, we reported on a Deloitte Canada estimate of the size of the new market in Canada for edibles and other infused products: $2.7 billion.
Tuesday was a heavy news day in the cannabis industry. We covered news from Harvest Health & Recreation, MedMen Enterprises, Lexara Bioscience, High Tide Inc., Fire & Flower Holdings, Green Growth Brands, Willow Biosciences, Westleaf Inc., Pasha Brands, and the OTC Markets Group announcing a new cannabis index. In addition, TSI drew attention to an interview with the CEO of Brinks. Douglas Pertz sees cannabis as “a beautiful opportunity” and a $160 billion global market, where only 10% has been legalized to date. Speaking of “legalization”, the UN’s International Narcotics Control Board is calling for the decriminalization of all narcotics.
Wednesday, Green Thumb Industries announced multiple pieces of news, including entering California’s retail cannabis market. Harvest Health & Recreation reported new retail stores in Florida. Origin House announced strong shareholder support for its proposed Plan of Arrangement with Cresco Labs. Planet 13 released traffic numbers on its retail operations. In a TSI Exclusive, we reported on the booming cannabis retail market for Calgary, Alberta – Canada’s “cannabis capital”. We also covered news from industry heavyweight, Canopy Growth on its plans for “a U.S. hemp empire”. Also Wednesday, we reported that Delaware was moving toward becoming the next U.S. state to legalize marijuana for adult use.
Thursday began with PLUS Products announcing commencement of trading on the OTCQX. PLUS separately announced a deal with a California-based oil manufacturer. Origin House updated investors with an amended Plan of Arrangement for its Cresco deal. Green Thumb Industries reported receiving its second California license and other developments. Cresco Capital Partners announced raising $60 million for a new cannabis fund. In another TSI Exclusive, we reviewed the “progressive” marijuana legalization package approved in Illinois. We also took a closer look at a proposed legalization bill in Delaware.
Friday, there was a major announcement from (private) U.S.-based PAX Labs. PAX simultaneously announced supply deals with several of Canada’s most prominent cannabis companies, including Aurora Cannabis and Aphria Inc. PAX specializes in premium vaporizers. As October 17th approaches, Canadian companies are preparing for the new markets that will come online. In a short TSI Exclusive, we looked at where investors have already been making money here and offered some investment ideas on where the next investor profits may materialize. We also reported news from MedMen Enterprises, a Neptune Wellness/Tilray deal, and a sale of assets between Organic Flower Investments and AgraFlora Organics.
That’s what we saw as the highlights from the cannabis industry this week. Each week, we’ll seek to cover what is of most interest to you in the world of cannabis investing and marijuana stocks.
MJShareholders.com is the largest dedicated financial network and leading corporate communications firm serving the legal cannabis industry. Our network aims to connect public marijuana companies with these focused cannabis audiences across the US and Canada that are critical for growth: Short and long term cannabis investors Active funding sources Mainstream media Business leaders Cannabis consumers