The Daily Hit: October 2, 2018

It’s time for your Daily Hit of cannabis financial news for October 1, 2018.

On The Site

Aleafia Health Inc.

Canadian cannabis company Aleafia Health Inc. (ALEAF) has submitted an application to list its shares on the NASDAQ (NDAQ) exchange. The stock is currently trading in the OTC Markets Group in the U.S. and the Toronto Venture Exchange in Canada.

The company said it also intends to submit a Form 40-F, which is a requirement for Canadian companies to register securities it intends to offer on U.S. markets, to the Securities and Exchange Commission (SEC) later this week. The listing remains subject to NASDAQ and SEC approval.

Until that is approved, the shares will continue to trade on the OTCQB under the ticker symbol “ALEAF”. Aleafia’s common shares will also continue to trade on the TSX Venture Exchange under the ticker symbol “ALEF” post-NASDAQ up-listing.

 In Other News

GW Pharmaceuticals plc

GW Pharmaceuticals plc (Nasdaq: GWPH, “GW,” and the “Company”), a biopharmaceutical company focused on discovering, developing and commercializing novel therapeutics from its proprietary cannabinoid product platform, announced the pricing of an underwritten public offering by the Company. GW will issue 1,900,000 American Depositary Shares, representing 22,800,000 ordinary shares of GW, at a price to the public of $158.00 per ADS on the Nasdaq Global Market, raising gross proceeds of approximately $300 million (before deducting underwriting discounts, commissions and offering expenses).  GW has granted the underwriters a 30-day option to purchase up to an additional 285,000 ADSs at the public offering price less underwriting discounts and commissions.  Closing of the offering is expected to occur on 5 October, 2018.

The Green Organic Dutchman Holdings Ltd.

The Green Organic Dutchman Holdings Ltd. (TGODF) closed the previously announced acquisition of HemPoland. The transaction has received approval from the Toronto Stock Exchange and cements the Company’s commitment to building shareholder value through international expansion.

Cannex Capital Holdings Inc.

Cannex Capital Holdings Inc. (CNXXF) announced record revenues and net income for its first fiscal quarter of 2019 ended July 31, 2018. Revenues increased 223% to $3,400,435 in Q1 2019, compared to $1,528,341 for the comparative period. Revenue was generated primarily by way of packaging sales and rental income. Income for the period was $2,428,507 for Q1 2019, $.01 per share, as compared to a loss of $403,027 for the comparative period.

 

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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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