The Daily Hit: July 19, 2018

It’s time for your Daily Hit of cannabis financial news for July 19, 2018.

On the Site

2018 Cannabis Stock Activity Trending Toward A Canadian Exodus

U.S. companies running north of the border and IPOs are on the rise. Over the next year expect an increase of cannabis companies to start going public in Canada instead of the United States. Although the U.S. market has great potential in the long run, there are a lot of short-term advantages to going public in Canada.

The Green Organic Dutchman Pays Warrant Dividend In New Company

The Green Organic Dutchman Holdings Ltd. (TGODF) is distributing a dividend that will consist of a warrant in a new corporation called TGOD Acquisitions to its shareholders. The company will do just as the name says – acquire and develop worldwide opportunities.

Tilray’s NASDAQ Cannabis IPO Is Lit

On Wednesday, the Canadian-based cannabis cultivator, processor, and distributor, Tilray Inc. (TLRY), completed its initial public offering and shares of the company have already begun trade on the NASDAQ Global Select Market under the symbol “TLRY.”

In Other News

MPX Bioceutical Corporation

MPX Bioceutical Corporation (MPX) is staking its claim in California’s cannabis extract market. Today the company announced that it has entered into an agreement with Case Farms Collective, one of the largest cannabis extraction facilities in California. Under the agreement, Case Farms will provide cannabis processing services to MPX, according to specifications set down by MPX. Case Farms will also distribute MPX-branded cannabis concentrates among its network of licensed dispensaries in the state.

MariMed Inc.

MariMed Inc. (MRMD) announced today that Navy Capital Green Fund, the first Long/Short Public Equity Fund in the United States focused solely on the cannabis industry, has made a $2 million investment in the company. MariMed will use the money raised to growth projects, which includes a build-out of cannabis facilities in Massachusetts scheduled to open by the end of the year. “This placement by one of the top investment houses in cannabis demonstrates Navy Capital’s confidence in our strategic plan and our potential for asset and revenue growth,” said Robert Fireman, MariMed CEO, in a statement. “We’ve had 11 consecutive quarters of year over year revenue growth, and Navy Capital’s infusion will help further facility development and expand corporate infrastructure, in turn bolstering assets, increasing revenue, and delivering financial performance.”

Emerald Health Therapeutics Inc.

Emerald Health Therapeutics, Inc. (EMH) announced that it has signed a definitive agreement with Abattis Bioceuticals Corp. (ATT) to acquire the remaining shares of Northern Vines Canada Inc. for $2 million in cash and $4 million in shares; giving Emerald Health 100% ownership of the company. Northern Vine is a Licensed Dealer (LD) under the provisions of the Canadian Controlled Drugs and Substances Act; which allows the company to import and export cannabis oils. “The acquisition of Northern Vine allows us to leverage its dealer license and research and development facility to advance our research plans to develop cannabis formulations supporting new products for both recreational purposes and to treat a broad spectrum of human conditions and diseases,” said Emerald Health CEO Chris Wagner in a statement. “The dealer license would also enable Emerald to cost effectively source non-dried-flower cannabis products from suppliers in other countries.”

 

William Sumner

William Sumner

William Sumner is a freelance writer specializing in the legal cannabis industry. You can follow William on Twitter @W_Sumner or on Medium.


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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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