Here are today’s quick hits:
TerraTech (TRTC) rescheduled its earnings call scheduled for Thursday and postponed it to Friday. Sometimes these types of postponements are purely technical in nature, i.e. the accountants need to confirm numbers or language needs to be tweaked. However, it is usually not a positive sign when things aren’t finalized at this late moment. Hopefully, the delay wasn’t due to something substantial.
DELTA 9 CANNABIS INC.
DELTA 9 CANNABIS (TSXV: NINE) has signed a Memorandum of Understanding to purchase up to 5,000 kilograms of cannabis from Alberta-based Sundial Growers Inc. The purchase is designed to increase Delta 9’s ability to meet the anticipated market demand following the full legalization of adult-use cannabis in Canada. The agreement commits Sundial to supply up to 5,000 kilograms of both dried cannabis and/or cannabis derivatives “to meet or exceed” Delta 9’s market demand in the period post-legalization. Delta 9 CEO John Arbuthnot says the agreement was reached as part of the company’s commitment to supply the Manitoba market.
CannaRoyalty (CNNRF) announced that it has signed a binding term sheet to expand its business relationship with National Access Cannabis Corp. to carry CannaRoyalty products in NAC stores across Canada. According to a statement, NAC is in the process of applying for licenses in several Canadian jurisdictions and recently announced that it was one of four entities that have received conditional approval for a license to operate private retail cannabis stores across Manitoba. The agreement covers the purchase by NAC of certain CannaRoyalty products.
Marapharm Ventures Inc.
Marapharm Ventures (MRPHF) announced that its final plans for the company’s first cultivation facility in Desert Hot Springs, California are complete and ready for submission to the city. Basically saying that it was still on schedule to meet its construction goals.
Global Payout Inc.
Global Payout Inc. (GOHE) announced that its subsidiary MoneyTrac Technology had begun the soft launch of MTRAC, a full-service banking solution powered by software technology features that the company had acquired through its Joint Venture with GreenBox. MTRAC is an E-Wallet cash loading machine/kiosk that is supported by blockchain technology and will be leveraged by MTRAC in a system that will offer cannabis consumers and retailers an effective alternative to cash payment transactions.