The Week Ahead In Cannabis: Earnings, CannTrust Update And More
Earnings reports, M&A deal updates and a potential update regarding CannTrust Holdings Inc (NYSE:CTST) — Here's what scheduled to take place this week in the cannabis industry.
Organigram, Canopy Rivers Earnings
As we're entering the earnings season, we already see companies lining up to report their results for the last quarter.
OrganiGram Holdings Inc (NASDAQ:OGI) reported third-quarter financials on Monday morning. Its EPS loss of 7 cents per share was down 10 cents from the the same period last year. Sales of CA$24.75 million were up from CA$3.43 million in last year's period.
The other company slated to release its quarterly figures this week is Canopy Rivers Inc (OTC:CNPOF), the investing arm of cannabis giant Canopy Growth Corp (NYSE:CGC). Canopy Rivers will report its results for the fourth quarter ended March 31 before the markets open on Tuesday.
Benzinga's Cannabis Capital Conference heads to Detroit on Aug. 15 — click here to learn more!
CannTrust Report To Health Canada
One of the highlights of last week was CannTrust getting busted by Health Canada for selling cannabis produced at unlicensed facilities. The company saw its stock tank on the back of the scandal. On July 17, CannTrust is expected to deliver its report to Health Canada.
Effective July 16, Hexo Corp (NYSE:HEXO) is expected to transfer its stock from the smaller NYSE American exchange to the New York Stock Exchange.
After entering into a letter of intent on June 24, Cannamerica Brands Corp (OTC:CNNXF) and Canna Provisions Inc. are expected to sign a definitive agreement by July 15. The deal involves Canna Provisions manufacturing and distributing Cannamerica products in the Commonwealth of Massachusetts.
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