Here are the cannabis news briefs for March 20, 2018:
Arena Pharmaceuticals Inc.
Arena Pharmaceuticals (ARNA) reported positive results from a phase 2 trial of its treatment for ulcerative colitis. After the market closed on Monday the company released a statement saying that a higher dose of its experimental drug etrasimod succeeded in improving symptoms associated with ulcerative colitis, a chronic bowel disease, in a mid-stage study. The U.S.-based company said it now plans on moving the drug to late-stage trials. A lower dose did not have such strong results. The company is looking for a positive compound following the lower than expected sales of its weight-loss drug and is hoping this drug will make up for that disappointment.
The Supreme Cannabis Company, Inc.
Supreme Cannabis Company (FIRE.V) announced it has entered into a definitive agreement to complete a C$10,000,000 strategic equity investment in Medigrow. Upon completion of the investment, Supreme will own approximately 10% of Medigrow.
Namaste Technologies Inc.
Namaste (CSE:N) (NXTTF) announced that it has signed a Medical Cannabis Supply Agreement with Marigold Projects Jamaica Ltd. under its wholly owned subsidiary, Cannmart where Marigold will supply Cannmart with high-quality Jamaican produced medical cannabis, to be imported by Cannmart from Jamaica and offered in the Company’s online marketplace, subject to approval by Health Canada and the Cannabis Licencing Authority.
Invictus MD Strategies Corp.
Invictus MD Strategies (TSXV: GENE) (OTC: IVITF) changed its share ticker from IMH to GENE on the Toronto Stock Exchange Venture Exchange. Invictus changed its TSX Venture symbol from IMH to GENE, effective March 20, 2018, to reflect the importance of the company’s new partnership with rock icon and branding genius Gene Simmons, anticipating that Simmons will play a vital role as the company marches into this historic year for Canada and cannabis.
The Hydropothecary Corporation
Hydropothecary (TSX-V: THCX) has reached an agreement with online commerce company Shopify to build its e-commerce platform for cannabis products. The bilingual website will serve Hydropothecary’s medical customers, provide information for discerning recreational consumers and support engagement with provincial and territorial cannabis retailers.
Friday Night Inc.
Friday Night Inc. (CSE: TGIF) (OTCQB: TGIFF) announced its inclusion in the CSE25 Index which is comprised of the 25 largest companies in the Canadian Securities Exchange Composite Index by market capitalization. The CSE25 Index is a subset of the CSE Composite Index.
Brayden Sutton, CEO of Friday Night, remarked, “We are very proud to be recognized as one of the 25 largest companies on the CSE by market capitalization. The inclusion of the CSE25 Index not only distinguishes our Company as a highly liquid issuer but gives validation to our business strategy and recognizes our impressive growth over the last 9 months of trading.”