Video Staff
It was a shortened trading week as markets were closed on Monday for Martin Luther King day. There was also the excitement this week with the inauguration on Wednesday for President Biden and Madame Vice President Harris. We wish our new administration great success.
On Tuesday The Valens Company Inc. (OTCQX: VLNCF) said it made the strategic decision to liquidate the majority of its cannabis oil inventories at market-clearing prices in the fourth quarter of 2020. The stock fell over 10% on the news. This company said that the decision will lead to a related one-time financial statement impact in the fourth quarter of 2020 between $9.0 million and $10.0 million.
It was a big week for announcing capital raises.
California-based cannabis company Harborside Inc. (CSE: HBOR), (OTCQX: HBORF) upsized its previously announced brokered private placement of units of the company at a price of C$2.55 per SVS Unit for gross proceeds of approximately C$27 million, representing an increase of C$7 million, due to excess demand. The stock was lately selling near $2.22, which isn’t far from the company’s 52-week high of $2.40.
No sooner had Revive Therapeutics Ltd. (OTC: RVVTF) announced it had raised $10, then it stopped trading to say the deal was upsized to $20 million. Revive is a specialty life sciences company focused on the research and development of therapeutics for medical needs and rare disorders.
Auxly Cannabis Group Inc. (OTCQX: CBWTF) raised $15 million with a deal in which ATB Capital Markets Inc. and Cantor Fitzgerald Canada Corporation agreed to buy roughly 40 million Units of the Company at a price per unit of $0.37.
Psychedelic publisher Delic Holdings Inc. has begun trading its shares on the OTC The process was through a reverse takeover of Molystar Resources. Many of the top executives at Delic are former High Times employees. Including CEO Jackee Stang and Director Kraig Fox was the former Chief Executive Officer and President of High Times
Cannabis software company Blackbird and payment processor company AeroPay announced a strategic partnership to bring cashless payments to cannabis businesses for online ordering. Blackbird was sold in November 2020 by its parent Tilt Holdings (OTC: TLLTF).
And finally, Fyllo announced it has acquired DataOwl.
2 comments
E
January 22, 2021 at 6:34 pm
I wish there was a video for this week
Debra Borchardt
January 24, 2021 at 2:53 pm
Somehow the link to the video wasn’t attached. It’s been corrected. You’ve been promoted to copy editor.