The Daily Hit: May 20, 2019

It’s time for your Daly Hit of cannabis financial news for May 20, 2019.

On The Site

Organigram

Canadian-based Organigram Holdings Inc. (TSX VENTURE: OGI) (OTCQX: OGRMF)  will begin trading on the NASDAQ Global Select Market on May 21, 2019. The company will continue to list its common shares on the TSX Venture Exchange under the symbol “OGI.”

“As a management team we are seeing increased interest from investors in the U.S. and internationally and believe that having a listing on the NASDAQ will facilitate trading,” said Paolo De Luca, Chief Financial Officer of Organigram. “In addition, based on precedents in the cannabis space, we expect trading volumes to increase which should result in increased liquidity for all investors.”

Five Tips For Selling

Legal cannabis sector fundamentals have strengthened in recent months thanks to new markets coming online and rising sales in existing markets. As a result, there has been a wealth of M&A activity lately, as existing operators increase their pace of acquisitions and new investors flock to the industry, buoyed by these investment opportunities. This has led to smaller operators selling their businesses to the larger players who are looking to consolidate or enter the market or both. This can be a smart move if properly executed, but there are also plenty of ways in which it can go awry.

Here are five crucial tips for operators thinking about selling their businesses in the coming years. This is the first part of a two-part series. In part two, we will provide five additional tips focused on the regulatory issues cannabis companies need to understand.

In Other News

Body & Mind

Body and Mind Inc. (CSE: BAMM) (OTC Pink: BMMJ) has closed its previously announced private placement offering with M Partners Inc., as lead agent, together with a syndicate of agents including PI Financial Corp. for 11,780,904 units at a price of CAD$1.25 per Unit for gross proceeds of CAD$14,726,130.

Northern Swan

Global cannabis firm, Northern Swan appointed Former Majority Leader Tom Daschle and Representative Joe Crowley to its Advisory Board. Daschle was one of the longest serving Senate Democratic leaders in history and one of only two to serve twice as both Majority and Minority Leader.

Crowley in the U.S House of Representatives – New York’s 14th Congressional District, which includes Crowley’s hometown of Woodside, Queens, but he lost that seat to Alexandria Ocasio-Cortez.

Northern Swan has raised approximately $100 million of financing to date for their cannabis initiatives which include expanding existing Latin American operations, invest in new low-cost, large-scale cannabis cultivation and processing centers and build out distribution channels and brands in Europe, Latin America and North America. Northern Swan has invested in several companies spanning the global cannabis value chain including Clever Leaves, a leading vertically integrated licensed producer of medical cannabis in Colombia, Cansativa GmbH, a German cannabis distribution company.

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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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