This is your Daily Hit of cannabis news for May 17, 2018:
On The Site
The biopharmaceutical company GW Pharmaceuticals (GWPH), along with its U.S. subsidiary Greenwich Biosciences, announced the publication of its Phase 3 study of cannabidiol oral solution in patients with Lennox-Gastaut syndrome (LGS) in The New England Journal of Medicine.
Cannabis Delivery Service Stemless Looks To Take On Eaze
Stemless is a Portland-based startup that gives cannabis consumers an easy way to buy from their local dispensaries without having to leave home. “We are an online platform that helps dispensaries connect with their customers, so their customers can order from them in a way that is convenient, fast and, most of all, legal,” says Stemless founder Koushi Sunder. The company is entering the Eaze marketplace at a time when Eaze is coming under fire for its approach towards consumers.
Bourbon Heir Says End of ‘Prohibition 2.0’ Will Lead To Cannabis Fortunes
Ben Kovler is bringing Green Thumb Industries or GTI public in Canada, according to Bloomberg due in large part to similarities seen between the liquor industry in the 1930s and cannabis today. Speaking with Bloomberg, Kovler said he intends to bring GTI public via a reverse merger with a publicly traded Canadian company. Kovler, whose family invested $5,000 in the distiller group that would eventually become Jim Beam bourbon, is also the shareholder of GTI.
In Other News
Organigram Holdings Inc.
Organigram Holdings Inc. (OGI) announced today that it has received a “Permit to Export Cannabis” from Health Canada, allowing the company to export medical cannabis to Cannatrek Medical PTY Ltd., a licensed medical cannabis company in Melbourne, Australia. “Today we are proud to announce our ability to commence international sales through the receipt of a Permit to Export Cannabis from Health Canada,” said Greg Engel, CEO of Organigram. “This is only the beginning. Last week we announced our intentions to invest in and sell to a German distributor. Today we announce our ability to sell into Australia. We continue to strive towards becoming a global leader in the medical cannabis trade.”
Cannabis Wheaton Income Corp.
Cannabis Wheaton Income Corp. (CBW) has announced that it has closed the acquisition of all of the outstanding securities of Dosecann Inc. for a price of $38 million, payable in common shares of Cannabis Wheaton. Dosecann is located in Charlottetown, Prince Edward Island and is currently in the process of completing a 42,000 square foot for the research, development, extraction, formulation, filling, and packaging of cannabis products. Pending regulatory approval, Dosecann will use its facility to make a variety of cannabis products for the medicinal market and, pending approval, the adult use market as well.
Aphria Inc. (APH) announced that it has chosen Great North Distributors, Inc., a wholly-owned Canadian subsidiary of Southern Glazer’s Wine & Spirits, as its exclusive distributor for adult-use cannabis products throughout Canada. Under the agreement, Great North will create a dedicated sales team that will be responsible for selling Aprhia’s portfolio of cannabis products and its parent company, Southern Glazer’s will utilize its data analytics to provide data-driven support for Aphria. “We’re delighted to have Great North Distributors dedicated to our business. This deal enables us to fully execute on our adult-use strategy from day one, and we know that Great North Distributors has the right resources and expertise to allow us to capitalize on the opportunities in the industry on a national scale,” commented Aphria CEO Vic Neufeld.