The Daily Hit: June 14, 2018

It’s time for your Daily Hit of cannabis financial news for June 14, 2018.

On The Site

The Green Organic Dutchman

The Green Organic Dutchman Holdings Ltd.  (TSX:TGOD) (TGODF) entered into a strategic partnership with Jamaican cannabis company Epican Medicinals Ltd. According to the company statement, this partnership will add an additional 14,000 kgs, taking TGOD’s total organic funded capacity to 130,000 kgs. In addition to the production agreement, TGOD has also entered into a binding agreement to invest into Epican for a 49.18% stake.  TGOD will also provide Epican access to its financing facilities to support future expansion requirements.

In Other News

Canopy Growth

Canopy Growth (CGC) announced that it plans to release its earnings on June 27 for its fiscal fourth quarter and fiscal year, which ended on March 31. In its press release, Canopy Growth also offered a preview of what to expect from its results. The company stated that it expects revenues to be between 22.5 million and 23 million Canadian dollars for the quarter compared to 14.7 million Canadian dollars a year ago, an increase of 53% to 56%.

Insys Therapeutics

Insys Therapeutics (INSY) jumped over 12% in trading in heavy volume after the biotech company announced positive data from an early-stage trial assessing its epinephrine nasal spray for the treatment of acute allergic reaction (anaphylaxis). It was a relatively small study of 60 people with seasonal allergies, but it showed that the bioavailability of nasally administered epinephrine was similar to Mylan’s (MYL) which is an injection of medicine.

The Hydropothecary Corporation

The Hydropothecary Corporation (TSXV:THCX) announced that the first two zones of its 250,000 sq. ft. greenhouse expansion is now licensed by Health Canada, under the Access to Cannabis for Medical Purposes Regulations (Canada) (the “ACMPR”) which allows the Company to transfer plants in immediately.  This, along with the 1 million sq. ft. expansion set to be complete by year-end, will bring total production capacity up to 1.3 million sq. ft. and will allow Hydropothecary to produce 108,000 kgs of dried cannabis annually.

Debra Borchardt

Debra Borchardt is the Co-Founder, and Executive Editor 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 Master's 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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