The Week In Cannabis: Peltz’s Departure, Earnings, Stocks Slightly Down, , on October 4, 2020 at 1:06 pm

By High West Capital Partners

On October 4, 2020

Tags:

The week began with the departure of activist investor Nelson Peltz from Aurora Cannabis Inc. (NYSE: ACB), just 18 months after being hired as a strategic advisor.Aurora and Peltz “have concluded their relationship,” an Aurora spokesperson confirmed. “This change is a direct result of Mr. Peltz’s decision to pursue other commitments, and the company appreciates his valuable contributions.”The announcement came just days after the Edmonton, Canada-based company reported a CA$3.3 billion ($2.5 billion) loss for the 2020 fiscal year. Shares of Aurora Cannabis closed the week down 8.7%.Fortunately, ETFs didn’t take such a big hit. Over the five trading days of the week: * The ETFMG Alternative Harvest ETF (NYSE: MJ): lost 0.7% * The AdvisorShares Pure Cannabis ETF (NYSE: YOLO): was down 1.5% * The Cannabis ETF (NYSE: THCX): was down 1% * The Amplify Seymour Cannabis ETF (NYSE: CNBS): closed the week flat. * The SPDR S&P 500 ETF Trust (NYSE: SPY) was up 1.86%.Earnings Reports Sproutly Canada Inc. (CSE: SPR) (OTCQB: SRUTF) released its financial and operational update for the first quarter of 2021. Over the quarter ending May 31, the company launched its Business Transformation Plan, as previously announced by the CEO, Dr. Arup Sen.Top Strike Resources Corp. (CSE: VENI) revealed its revenue amounted to $127,166 for the first quarter of 2021. That’s a sequential decline of 87%. The Alberta-based company, which does business as Vencanna Ventures, reported a loss of $253,263, versus a gain of $712,761 in the prior quarter.WeedMD Inc. (TSXV: WMD) (OTCQX: WDDMF) reported second-quarter revenue of $5.9 million. That’s down by 26% year-over-year. For the six-month period, ending June 30, revenue amounted to $18 million, compared to $11.3 million in the same period of fiscal 2019.Cannabis and hemp operator Jushi Holdings Inc. (CSE: JUSH) (OTCQB: JUSHF) said third quarter revenue of this year was $24 million. That’s a sequential surge of 61%.See details on all of these results and more on Benzinga Cannabis’ Earnings Center.More News From The Week Citron Research editor Andrew Left discussed one of his latest stock ideas during an appearance on Benzinga’s PreMarket Prep show this week: COMPASS Pathways PLC (NASDAQ: CMPS). “They are the first ones using psilocybin, what’s in the magic mushrooms, for FDA approval for mental health purposes. They just went public. It’s one of those big concept stocks,” he said. Cannabinoid ingredient company Creo announced its debut. According to the company, Creo’s fermentation process allows for better, more sustainable manufacturing of rare cannabinoids, like CBG, without the use of the cannabis plant. This allows the company to offer customers a clean, stable, consistent and scalable supply.”Starting in 2016, we’ve developed proprietary technology that delivers a reliable, high-quality supply of cannabinoid ingredients,” said Creo CEO and co-founder Roy Lipski. “We’re launching today with not only the promise of delivering a high-quality product, but with a process that is changing our industry for the better.”Zelira Therapeutics Ltd (ASX: ZLD) (OTCQB: ZLDAF) entered into an agreement with Australia-based Emyria Ltd. (formerly Emerald Clinics), to collect data from patients treated with Zenivol in Emyria’s network of specialist medical clinics. Zelira will pay Emyria an upfront fee along with a subscription fee for each patient enrolled in the study, for up to 12 months.”Being able to access real-world data, in real-time, from patients treated with Zenivol will have immediate benefit for our go-to-market strategy,” Zelira’s managing director Richard Hopkins said. “This information will also inform the design of future clinical trials, reduce the risks and costs of development and accelerate the path to regulatory approval.”A new report suggests Montana cannabis tax revenues could reach $236 million by 2026. Pepper Petersen, founder and spokesman for New Approach Montana, said the study shows “the benefits legalizing, regulating, and taxing marijuana will bring to Montana.”Voting yes on CI118 and I190 will bring needed funds for veterans programs, local government, healthcare, and conservation. It will also free up law enforcement to focus on serious crime. That’s smart policy,” he added.View more earnings on MJC21 Investments Inc. (CSE: CXXI) (OTCQX: CXXIF) qualified to begin trading on the OTCQX, under the symbol CXXIF.Chippewas of the Thames Development Corp. (CTDC) invested $2 million in Sensi Brands Inc. Software company Trym secured $3.1 million in financing through a seed funding round. Besides $1 million in funding provided by friends and family, the rest of $2.1 million comes from the preferred round co-led by 7thirtz Capital and Delta Emerald Ventures.Financial technology company AeroPay, which also operates in the cannabis industry, finalized a seed-funding round for an undisclosed amount.Medical cannabis company MedPharm Holdings parted ways with Schwazze Inc. (OTCQX: SHWZ). In an effort to expand across Latin America, Khiron Life Sciences Corp. (OTCQX: KHRNF) recently partnered with e-commerce company Rappi to launch and distribute a line of CBD products to Uruguay and Costa Rica.Khiron CEO Alvaro Torres told Benzinga the collaboration is “focused on the new low touch economy.”Ayr Strategies (CSE: AYR) (OTCQX: AYRSF) confirmed Thursday that it has expanded its cultivation and processing capacities by acquiring some assets in Ohio and Pennsylvania.Benzinga Cannabis’ content is now available in Spanish on El Planteo.420 Medibles announced the expansion and re-launch of its line of medicated confections. The product lineup of edibles, now available in Arizona dispensaries, includes THC cookies, brownies, crispy rice treats and bars. Along with new medible products, the expansion includes the naming of Parisa Rad as president of 420 Medibles and 420 Skin Care, and a new distributor program.”I am blessed to expand my THC medible and CBD skincare businesses and offer others a way to build their own cannabis business with our new distributor program,” said 420 Skin Care CEO Marvina Thomas.GKUA Ultra Premium announced its debut in Michigan. The cannabis brand, founded and owned by rapper and cannabis entrepreneur Lil Wayne, will be available in select dispensaries across The Wolverine State, the press release said.Christina Lake Cannabis Corp. began trading on the Canadian Securities Exchange under the ticker symbol “CLC.”Cannabis Cup creator High Times revealed Friday the winners of its inaugural People’s Choice event, held in Illinois.HOPE, a line of medical cannabis tinctures for children and adults with Autism Spectrum Disorder (ASD), is now available in Louisiana cannabis pharmacies and can be sold under prescription.Top Stories Of The Week Check out the top stories on Benzinga Cannabis this week: * What Isiah Thomas Learned On The Court Helped Him Find Success In Cannabis, Champagne And Beyond * Managers Explain Their Cannabis ETFs: YOLO * Managers Explain Their Cannabis ETFs: CNBS * Managers Explain Their Cannabis ETFs: THCX * Managers Explain Their Cannabis ETFs: MJ * Video: Radio Free Cannabis – Canadian Public Companies: Allies Or Interlopers? * Read The Viridian Cannabis Deal Tracker Report For The First Half Of 2020 * Are CBD Labels Accurate? Too Many Brands Are Misleading Consumers, Studies Show * For Travel Expert Rick Steves, Cannabis Reform Isn’t Counterculture — It Just ‘Makes Sense’ * Meet Captain Cannabis, The First Weed Superhero In History * Cannabis Icon Tommy Chong Will Never Stop Being Political * Exclusive: ‘Pharm To Table’ — A New Cannabis Show By Beard Bros Pharms, Greenbox RoboticsTop Spanish stories: * Martin Piroyansky Habla de Porro, Viajes de Ácido, el Peligro del MDMA y Adelanta su Nueva Serie * Gerentes Explican sus ETF de Cannabis: THCX * Gerentes Explican sus ETF de Cannabis: MJ * Alimentacion, Cannabis y Paranoia con Narda Lepes * La Marca del Deseo: Conoce a Acertijo, el Campeon de la Red Bull Chilena * ¿Como se Hace el LSD? * 0800 Don Rouch, el Joyero del Trap Argentino * Saramalacara: Trap, Shitposting y Nerdeadas Fumonas * Consumo Responsable: la Interaccion del Cannabis con Otras Sustancias * Que es 420: Te Explicamos lo que Significa el Famoso NumeroLead image by Ilona Szentivanyi. Copyright: Benzinga.See more from Benzinga * Options Trades For This Crazy Market: Get Benzinga Options to Follow High-Conviction Trade Ideas * The Week In Cannabis: Aurora’s Earnings Disappointment, Michigan’s Great Week, And More * The Week In Cannabis: Mixed Stock Performers, Big Financings, Platform Launches, And More(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.,

, The Week In Cannabis: Peltz's Departure, Earnings, Stocks Slightly Down

← 2 Dividend Stocks on the TSX to Buy and Hold Forever, , on October 4, 2020 at 1:02 pm 3 Crazy-Overvalued TSX Stocks to Avoid in a Market Crash, , on October 4, 2020 at 1:15 pm →

Instant Quote

Stock Symbol *

Enter the Stock Symbol.

Exchange *

Select the Exchange.

Security Type *

Select the Type of Security.

First Name *

Please enter your First Name.

Last Name *

Please enter your Last Name.

Phone Number *

Please enter your phone number.

Email Address *

Please enter your Email Address.

Total Number of Shares You Own *

Please enter or select the Total Number of Shares you own.

Desired Loan Amount *

Please enter or select the Desired Loan Amount you are seeking.

Loan Purpose *

Please select the Loan Purpose.

Are you an Officer/Director?

Please select if you are an Officer/Director.

YesNo

Terms & Conditions

High West Capital Partners, LLC may only offer certain information to persons who are “Accredited Investors” and/or “Qualified Clients” as those terms are defined under applicable Federal Securities Laws. In order to be an “Accredited Investor” and/or a “Qualified Client”, you must meet the criteria identified in ONE OR MORE of the following categories/paragraphs numbered 1-20 below.

High West Capital Partners, LLC cannot provide you with any information regarding its Loan Programs or Investment Products unless you meet one or more of the following criteria. Furthermore, Foreign nationals who may be exempt from qualifying as a U.S. Accredited Investor are still required to meet the established criteria, in accordance with High West Capital Partners, LLC’s internal lending policies. High West Capital Partners, LLC will not provide information or lend to any individual and/or entity that does not meet one or more of the following criteria:

1) Individual with Net Worth in excess of $1.0 million. A natural person (not an entity) whose net worth, or joint net worth with his or her spouse, at the time of purchase exceeds $1,000,000 USD. (In calculating net worth, you may include your equity in personal property and real estate, including your principal residence, cash, short-term investments, stock and securities. Your inclusion of equity in personal property and real estate should be based on the fair market value of such property less debt secured by such property.)

2) Individual with $200,000 individual Annual Income. A natural person (not an entity) who had individual income of more than $200,000 in each of the preceding two calendar years, and has a reasonable expectation of reaching the same income level in the current year.

3) Individual with $300,000 Joint Annual Income. A natural person (not an entity) who had joint income with his or her spouse in excess of $300,000 in each of the preceding two calendar years, and has a reasonable expectation of reaching the same income level in the current year.

4) Corporations or Partnerships. A corporation, partnership, or similar entity that has in excess of $5 million of assets and was not formed for the specific purpose of acquiring an interest in the Corporation or Partnership.

5) Revocable Trust. A trust that is revocable by its grantors and each of whose grantors is an Accredited Investor as defined in one or more of the other categories/paragraphs numbered herein.

6) Irrevocable Trust. A trust (other than an ERISA plan) that (a)is not revocable by its grantors, (b) has in excess of $5 million of assets, (c) was not formed for the specific purpose of acquiring an interest, and (d) is directed by a person who has such knowledge and experience in financial and business matters that such person is capable of evaluating the merits and risks of an investment in the Trust.

7) IRA or Similar Benefit Plan. An IRA, Keogh or similar benefit plan that covers only a single natural person who is an Accredited Investor, as defined in one or more of the other categories/paragraphs numbered herein.

8) Participant-Directed Employee Benefit Plan Account. A participant-directed employee benefit plan investing at the direction of, and for the account of, a participant who is an Accredited Investor, as that term is defined in one or more of the other categories/paragraphs numbered herein.

9) Other ERISA Plan. An employee benefit plan within the meaning of Title I of the ERISA Act other than a participant-directed plan with total assets in excess of $5 million or for which investment decisions (including the decision to purchase an interest) are made by a bank, registered investment adviser, savings and loan association, or insurance company.

10) Government Benefit Plan. A plan established and maintained by a state, municipality, or any agency of a state or municipality, for the benefit of its employees, with total assets in excess of $5 million.

11) Non-Profit Entity. An organization described in Section 501(c)(3) of the Internal Revenue Code, as amended, with total assets in excess of $5 million (including endowment, annuity and life income funds), as shown by the organization’s most recent audited financial statements.

12) A bank, as defined in Section 3(a)(2) of the Securities Act (whether acting for its own account or in a fiduciary capacity).

13) A savings and loan association or similar institution, as defined in Section 3(a)(5)(A) of the Securities Act (whether acting for its own account or in a fiduciary capacity).

14) A broker-dealer registered under the Exchange Act.

15) An insurance company, as defined in Section 2(13) of the Securities Act.

16) A “business development company,” as defined in Section 2(a)(48) of the Investment Company Act.

17) A small business investment company licensed under Section 301 (c) or (d) of the Small Business Investment Act of 1958.

18) A “private business development company” as defined in Section 202(a)(22) of the Advisers Act.

19) Executive Officer or Director. A natural person who is an executive officer, director or general partner of the Partnership or the General Partner, and is an Accredited Investor as that term is defined in one or more of the categories/paragraphs numbered herein.

20) Entity Owned Entirely By Accredited Investors. A corporation, partnership, private investment company or similar entity each of whose equity owners is a natural person who is an Accredited Investor, as that term is defined in one or more of the categories/paragraphs numbered herein.

Closer

Certify Information *

Please read the notice above and check the box below to continue.

I hereby certify that I have read the information set forth herein, and I meet the definition of "Accredited Investor" and/or "Qualified Client" as defined in ONE OR MORE of the categories/paragraphs numbered 1-20 above.

Singapore

168 Robinson Road,
Capital Tower, Singapore 068912
+65 3105 1295

Taiwan

5th Floor, No. 1-8, Section 5, Zhongxiao East Road, Taipei

Hong Kong

R91, 3rd Floor,
Eton Tower, 8 Hysan Ave.
Causeway Bay, Hong Kong
+852 3002 4462

Australia

44 Martin Place, Sydney 2000 Australia
+02 8319 3232

Indonesia

Millennium Centennial Center, 38th Floor, Jl. Jend. Sudirman Kav. 25
Jakarta 12920, Indonesia

Market Coverage