Marijuana Money January 26, 2018

Aurora Cannabis and CanniMed Therapeutics finally agreed to the previously hostile takeover saying that they’ve now agreed on friendly terms. In a deal valued at $1 billion, Aurora is paying $43 a share for  CanniMed, which is even more than the previously agreed upon $24 a share. Neither company is buying Newstrike Resources, which had gotten dragged into the deal when CanniMed said it would buy them in order to get rid of Aurora. Spurned Newstrike will get $9 million bucks for its trouble.

High Times Corp. filed for an offering to raise between $5 million and $50 million. The company also said it was trying to address its upcoming debt payments. The company must raise $17.2 million in order to remain listed on the NASDAQ exchange. High Times also has a debt payment of over $11 million due this August. The company’s merger with Origo Acquisition (OACQ) still has not closed and has only until March 2018 to be completed. High Times report a net loss last year but hopes to return to profitability this year.

MedMen announced that it was planning a reverse takeover in order to become a publicly traded company on the Canadian Exchange. The goal is for MedMen to become a public company during the second quarter.

GW Pharmaceuticals (GWPH) got one step closer to getting its epilepsy drug into the marketplace. The British Biotech company published positive phase three results in The Lancet publication. The company has already filed for an NDA and has a PDUFA goal set for the end of June. It looks like Epidiolex could be available for commercial sales sometime this year.

Privateer Holdings announced it had raised $100 million.

Premium cannabis company Canndescent raised $10 million.

True Leaf Medicine also said that it raised $10 million through a RegA+ offering.

And the MJIC Marijuana Index added seven new companies to its Canadian Index.

Debra Borchardt

Debra Borchardt is the Co-Founder, and Executive Editor of GMR. She has covered the cannabis industry for several years at Forbes, Seeking Alpha and TheStreet. Prior to becoming a financial journalist, Debra was a Vice President at Bear Stearns where she held a Series 7 and Registered Investment Advisor license. Debra has a Master's degree in Business Journalism from New York University.


  • Mike

    January 27, 2018 at 11:31 pm

    How might the MedMen market share price be calculated?
    Since recreational use will be legal in Canada this summer,How might a logical
    Scenario for mergers and acquisitions look?Further ,in light of IPO’S added to the equation?
    How long before companies will be priced according to their real balance sheets net of all else?


    • Debra Borchardt

      January 28, 2018 at 11:04 am

      Great question. We could have a writer explore that. As far as M&A, it’s been a pretty active landscape already just look at all the acquisitions Aurora has done over the past year. I would think that would start to settle down as the legal date gets closer. Then I would expect as the losers and winners start to shake out, you’ll see another round. Last Q – the price is always what the market will bear regardless of whether it makes sense or not.



    February 5, 2018 at 9:13 am



Leave a Reply

Your email address will not be published. Required fields are marked *

Get the latest cannabis news delivered right to your inbox

The Morning Rise

Unpack the industry with the daily cannabis newsletter for business leaders.

 Sign up

About Us

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


Recent Tweets

Get the latest cannabis news delivered right to your inbox

The Morning Rise

Unpack the industry with the daily cannabis newsletter for business leaders.