The Daily Hit: July 11, 2018

It’s time for your Daily Hit of cannabis financial news for July 11, 2018.

On The Site

Aurora Cannabis Inc.

Aurora Cannabis Inc. (ACBFF) announced today a pair of agreements aimed at strengthening the company’s brand recognition and product offerings.

First, Aurora announced that it has signed a binding term sheet with CannaRoyalty Corp. (CNNRF) to purchase CannaRoyalty’s exclusive license to use and commercialize pre-roll technology developed by Wagner Dimas in Canada for a price of $7 million CAD.

Aurora also announced that it has entered into a partnership agreement with Evio Beauty Group, whereby Aurora will make a strategic investment in Evio. Aurora and Evio will work together to develop a line of co-branded cosmetic products containing hemp seed oil as well as CBD infused beauty products. Evio Beauty is a company with a wide portfolio of conscious lifestyle brands and its sister cosmetic brand, Evelyn Iona, has a diverse consumer base and a strong e-commerce platform. Both Aurora and Evio hope that this partnership will help increase both companies brand recognition and cross-selling opportunities.

Canopy Growth Corp.

Canopy Growth Corporation (CGC) is 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. Hiku shareholders will receive 0.046 each of a Canopy Growth share.

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.

In Other News

Kush Bottles Inc.

Kush Bottles, Inc. (KSHB) acquired 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.

Following the acquisition, ZDCA will operate as a wholly-owned subsidiary of Kush Bottles, with The Hybrid Creative continuing to operate as a wholly-owned subsidiary of ZDCA. The agency’s full portfolio of cannabis and non-cannabis projects will be operated through The Hybrid Creative subsidiary. Kush Bottles will also issue earn-out payments of up to $1.75 million, through a combination of cash and stock payments, based on Hybrid achieving certain milestones.

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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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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