The Daily Hit: September 25, 2019

It’s time for your Daily Hit of cannabis financial news for September 25, 2019.

On the Site

WeedMD

WeedMD Inc. (TSX-V: WMD) (OTCQX: WDDMF) has closed its previously-announced bought-deal short-form prospectus offering of convertible debenture units at a price of $1,000 per Convertible Debenture Unit for aggregate gross proceeds of $13,115,000, which includes proceeds from the over-allotment option. The Offering for WeedMD was led by Mackie Research Capital Corporation and included Haywood Securities Inc.

Developing An Authentic Celebrity Cannabis Brand

Many celebrities are joining the cannabis industry. Some are involved in the critical details, while others just license their name. Hear from Grammy award-winning Melissa Etheridge of Etheridge farms as she joins a panel to discuss this topic. Kevin Bell, the COO of Tyson Ranch (Mike Tyson) and Jason Rhude, Founder of Ronin Content Services also weighs in, along with cannabis consultant company MMLG’s CEO Aaron Lachant.

In Other News

MediPharm Labs

MediPharm Labs Corp. (TSX: LABS) (OTCQX: MEDIF) (FSE: MLZ) announced that it has entered into a multi-year supply agreement with TerrAscend Canada Inc. Under the agreement, MediPharm will supply TerrAscend with $27 million of cannabis distillate over a course of two years. The agreement is subject to certain renewal and purchase options, potentially up to $192 million over 36-months to September 2022.   “As Canada prepares for the next stage of legalization, we are thrilled to be collaborating with a leading global company like TerrAscend focused on creating new and innovative product formulations and brands that enhance the consumer experience,” said Patrick McCutcheon, MediPharm Labs CEO.

GW Pharmaceuticals

GW Pharmaceuticals plc (Nasdaq: GWPH) announced that its flagship drug, Epidyolex, has been approved by the European Commission for use as adjunctive therapy of seizures associated with Lennox‑Gastaut syndrome (LGS) or Dravet syndrome, in conjunction with clobazam, for patients 2 years of age and older. The regulatory path is now clear for GW to start selling Epidyolex in European markets. “The approval of EPIDYOLEX® marks a significant milestone, offering patients and their families the first in a new class of epilepsy medicines and the first and only EMA-approved CBD medicine to treat two severe and life-threatening forms of childhood-onset epilepsy,” said GW CEO Justin Gover.

William Sumner

William Sumner

William Sumner is a freelance writer specializing in the legal cannabis industry. You can follow William on Twitter @W_Sumner or on Medium.


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The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


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