It’s time for your Daily Hit of cannabis financial news for July 3, 2018.
On The Site
Aurora Cannabis Inc.
Aurora Cannabis Inc. (ACBFF) gave several updates on different pieces of the company. The Aurora Vie production facility in Point-Claire Quebec got its sales license from Health Canada. The company said that this facility is on target to produce high-quality cannabis at a rate of 4,000 kg per year y October 2018 and that multiple harvests have been completed to date. Aurora has also modified the facility to produce softgel products. Its partner Capcium, is now installing equipment to commence high-volume production of these cannabis softgels.
Aurora also gave an update on the CanniMed company it acquired. The integration of the two companies is now complete. In addition, Aurora has received its Health Canada license for the production of encapsulated oil for its Mountain facility.
In Other News
RISE Life Science Corp.
RISE Life Science Corp. (CSE: RLSC) announced that it has closed a non-brokered private placement through the issuance of an aggregate of 4,824,399 units at a price of $0.30 per Unit for gross proceeds of $1,447,319.70. Each Warrant entitles the holder thereof to purchase one Common Share for a period of 24 months from the date of closing at a price of $0.45 per common share. The proceeds of the offering will be used for general working capital purposes.
MedMen Enterprises Inc.
MedMen Enterprises Inc. (MMEN.CN) (MMNFF), completed its first harvest at its cultivation and production facility outside Reno, Nevada. The test crop was only a fraction of the facility’s 10,000 pounds planned annual production capacity, but it went very smoothly and all systems functioned as designed, according to Dan McClure, MedMen’s vice president of agronomy.
Body and Mind Inc.
Body and Mind Inc. (BMMJ) announced approval of the final building inspection for the Phase II expansion from the Clark County Department of Building and Fire Prevention. The company initiated the Phase II expansion plans in early 2018 and is on time and budget to complete the increased production space, additional trim area, dry room and expanded packaging area.
CannaRoyalty Corp. (CNNRF) closed the previously announced acquisition of FloraCal Farms, a licensed premium craft cannabis producer located in Sonoma County, California. FloraCal has a temporary medium indoor cultivation license from the state of California, as well a Type 6 non-volatile manufacturing permit in Sonoma County. FloraCal is building its Sonoma County facility in three Phases and has been designed to comply with cGMP* standards.
FSD Pharma Inc.
FSD Pharma Inc. (CSE:HUGE) said that its first phase of the buildout of the FV Pharma facility in Cobourg, Ontario has been approved in an updated construction and development budget provided by Auxly. Of the current 620,000 square feet of building space available, 220,000 square feet will be developed and fully funded. As part of this project, Auxly will contribute $55,000,000 to buildout the Facility.
The markets will be closed on Wednesday for the Fourth of July and there will be no Daily Hit.