It’s actually been a fairly quiet week for cannabis financial news.
In political news, the New York Democratic Party said it is endorsing legalizing marijuana. The party recently held its primary and while actress Cynthia Nixon made a big splash, Governor Cuomo overwhelmingly won the race. Nixon was pushing hard for legalization and managed to nudge Cuomo into a more accommodating stance towards legalization.
Cannabis Wheaton (CBWTF) landed a gigantic C$100 million deal with a group of underwriters led by BMO Capital Markets. The group has the option for an over-allotment that could bring in an additional C$15 million. The deal is expected to close near May 31.
Newstrike Resources (NWKRF) snagged a private placement deal valued at $40 million. The net proceeds will be used for growth and working capital.
Aurora Cannabis (ACBFF) is continuing its acquisition push with its latest decision to take a 9% ownership stake in CTT pharmaceutical Holdings valued at $1 million. The company has been on a spending spree as it builds an empire to compete in the Canadian market.
Leafbuyer Technologies (LBUY) was flagged by the OTC Markets group for heavy stock promotion. The company has spent thousands for promotion while reporting a million dollar loss in the last quarter. In fact, most of the company’s revenue has been spent on promotion. The company said its insiders haven’t sold any stock and said the promotions haven’t increased the stock price. The flagging is part of an OTC Markets push to make sure investors are informed about stock promotions.
Cronos Group (CRON) uplisted its stock from the Toronto Venture Exchange to the Toronto Stock Exchange. The stock began trading at its new home on Wednesday.
Practically taking its place is Khiron Life Sciences, which will begin trading on Friday at the Toronto Venture Exchange under the symbol KHRN. It’s the first cannabis producer with core operations in Columbia.