Tuesday, February 26, 2019

Marijuana news



  • 7/12/19: Innovative Industrial Properties (IIPR) announces public offering of 1.25 mln shares of common stock. The company intends to use proceeds to invest in specialized industrial real estate assets that support the regulated cannabis cultivation and processing industry that are consistent with its investment strategy as well as for general corporate purposes.
  • 7/7/19: Canopy Growth (CGC) Founder Bruce Linton was ousted from his role as co-CEO. He did a great job scaling the largest cannabis company in the world, but Constellation Brands (STZ) sought a more sound operational manger for the next phase of growth at its multi-billion dollar cannabis investment.
  • 7/12/19: CannTrust (CTST) implements voluntary hold on sale and shipment of all cannabis products as a precaution while Health Canada visits and reviews its Vaughan, Ontario manufacturing facility. CannTrust placed a hold on medical sales through their customer service line and online as of 11:59 p.m. on July 10. CannTrust is working closely with the regulator through the review process and expects to provide further detail of the duration of the hold and other developments as they become available.  CannTrust announced that it was non-compliant with certain regulations in Canada
  • 5/21/19: Aphria (APHA) completes German tender process and receives fifth culitvation license in Germany.  Co announced that its German subsidiary Aphria Deutschland GmbH had been awarded a fifth lot for the cultivation of medical cannabis in Germany as part of the Company's previously awarded license from the German Federal Institute for Drugs and Medical Devices.   The additional lot was provisionally awarded to Aphria Germany in April and was secured following a review by a German court, which affirmed the original decision by the BfArM.
  • 4/10/19:  Aurora Cannabis Inc. (ACB) announced an update on the status of Aurora Sun, the Company's latest and largest Sky Class facility, which is currently under construction in Medicine Hat, Alberta. To support rapidly growing global demand for high-quality medical cannabis in Canada and abroad, the facility will be expanded to 1.62 million square feet, representing a 33% increase from its originally planned 1.2 million square feet. With the Sky Class production philosophy proven at Aurora Sky, the Company is confident in projecting an expected production capacity at Aurora Sun in excess of 230,000 kg of high-quality cannabis per annum.
  • 3/21/19: CVS (NYSE:CVS)  is selling some cannabis-based products in eight states, Alabama, California, Colorado, Illinois, Indiana, Kentucky, Maryland and Tennessee. Cannabidiol, or CBD, is the non-psychoactive element in marijuana. The pharmacy chain said the available products include topicals such as creams, sprays and lotions, but will not sell any CBD-containing supplements or food additives. CVS said the products comply with applicable laws.
  • 2/26/19: Aurora Cannabis (ACB) to acquire a 51% ownership interest in Gaia Pharm. The co announced that it has agreed to terms to acquire a 51% ownership interest in Gaia Pharm Lda., a license applicant in Portugal, to establish a local facility to produce medical cannabis and derivative products. The company will be renamed "Aurora Portugal Lda". On February 21, 2019, Gaia Pharm Lda. received approval of its application to construct an EU GMP compliant cannabis cultivation facility from INFARMED, a division of the Portuguese Health Ministry, which is responsible for the evaluation, authorization, regulation and control of human medicines as well as health products for the protection of public health.

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