William SumnerThis is your Daily Hit of cannabis news for June 7, 2018:
On The Site
Aphria Inc.
Aphria (APHQF) announced that it has entered into an agreement with Clarus Securities to raise $225 million on a “bought deal” basis, as it looks to expand both its production facilities around the world and its state-of-the-art Extraction Centre of Excellence. The announcement, made Wednesday, will see Aphrais sell 18.9 million shares at a price of C$11.85.
Canadian Senate Poised to Vote on Legalizing Recreational Cannabis
The nation of Canada is on the precipice of a historic moment as the country’s legislature stands poised to pass cannabis legalization. On June 7, 2018, the Senate will hold a vote on Bill C-45, a measure legalizing recreational cannabis nationwide. If passed, Canada will become the first G7 nation to legalize cannabis for recreational purposes and could potentially usher in a boom of economic activity.
In Other News
Canopy Growth Corp.
Canopy Growth (CGC) has announced that it has entered into a collaboration agreement with Molecular Science Corp. (MSC), a Canadian laboratory service. Under the agreement Canopy will work with MSC to create new and standardized testing method to better analyze cannabis potency, terpene profiling, pesticides, heavy metals, and mycotoxins as required by Health Canada. MSC will provide the equipment while Canopy will provide access to its Health Canada certified lab, infrastructure, industry knowledge, and a diverse supply of medical cannabis for testing. “Trust is key to success in the cannabis industry and this collaboration to advance scientific research and testing is key to earning and keeping the trust of our patients and future customers,” said Mark Zekulin, President, Canopy Growth. “We’re working to make testing practices faster and more consistent while driving enhanced accountability as well as visibility into the cannabis supply.”
Aurora Cannabis Inc.
Aurora Cannabis (ACB) has announced that it has signed a strategic agreement with Capcium Inc. to produce cannabis-based softgels for medical cannabis patients and has also purchased a 19.99% stake in the company for $10 million through a non-brokered private placement. Capcium is Montreal-based company that specializes in producing softgel capsules. Capcium will use the proceeds from Aurora’s investment to expand its production of cannabis-based softgels; which includes the construction and operation of a large-scale facilty that will be completed by Q4 2019. “This investment in Capcium reflects our strategic objective to further expand our differentiated, higher-margin product offerings,” said Terry Booth, CEO of Aurora. “Capcium’s extensive know-how has enabled it to develop an advanced technology for the high-volume production of cannabis-based softgels. This provides us with a strong competitive advantage, positioning us well to build a leading position in the production and sale of value-added cannabis products globally.”
Body and Mind Inc.
Body and Mind Inc., (BAMM) a Vancouver-based cannabis commpany, has announced that company has procured an ownership interest in an Ohio medical cannabis dispensary, NMG, Ohio LLC. Body and Mind’s subsidiary, Nevada Medical Group LLC., has a 30% ownership interest in NMG; with plans to expand its stake in the future. “We are very pleased with our group being awarded one of the dispensary licenses located in Ohio and confirms the commitment and skill of our team,” stated Robert Hasman, President of NMG. “We have worked hard to submit numerous low cost strategic license applications to grow the company and create shareholder value.”
