Marijuana Money: July 13, 2018

July 10 is or 710 is becoming a big sales promotion day and is growing in popularity. If you turn the numbers upside down, it loosely resembles the word “OIL.” So, fans of cannabis oil as using that as an excuse to celebrate. Not convinced?

According to MJ Freeway, point-of-sale (POS) data from thousands of cannabis retailers across the U.S., Monday, July 10, 2017 sales were 15% higher than average Monday sales. The 15% increase can be wholly attributable to increased concentrate purchases.

Canopy Growth Corporation said it was acquiring Hiku Brands Company Ltd.  (HIKU.CN) and paying a premium for the shares. Canopy is paying C$1.91 per share, which is a 33% premium based on the average price over a 20-day period. Consequently, WeedMD has terminated its plans to merge with Hiku and will receive a $10 million termination fee. The companies had announced an “Arrangement Agreement” back in April. That deal was more a merger than an acquisition.

Kush Bottles, Inc. (KSHBacquired Zack Darling Creative Associates, LLC along with its wholly-owned subsidiary, The Hybrid Creative, LLC, a specialist design agency based in Santa Rosa, California. Kush Bottles acquired ZDCA for a total purchase price of $1.45 million in cash and 360,000 shares of Kush common stock. Kush also announced this week that it was changing its name to Kushco Holdings

Nutritional High (SPLIF) announced that it has signed a definitive agreement for the acquisition of Pasa Verde, a commercial scale cannabis oil extraction and edible facility in Sacrament, California.

Sunniva Inc. (SNNVF) announced that it intends to spin out its Canadian assets into a separate Canadian entity and apply to list the shares on the Toronto Stock Exchange and the NASDAQ Stock Market in an effort to unlock the underlying value of the company’s assets on both sides of the border.

Tilray Inc.  amended its IPO to raise $135 million. The company has applied to list its shares on the NASDAQ.

Sproutly Canada Inc, a ACMPR Licensed Producer of cannabis is now trading on the CSE with the ticker SPR. The company just recently submitted their letter of intent to acquire Infusion Biosciences .

Debra Borchardt

Debra BorchardtDebra Borchardt

Debra Borchardt is the CEO, Co-Founder, and Editor-In-Chief 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 Masters degree in Business Journalism from New York University.


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