The Week Ahead In Cannabis: Garden State NORML's Lobby Day, MJ Dividend And More
Here are the highlights of the upcoming week in the cannabis industry.
MJ To Pay Dividend
ETFMG Alternative Harvest ETF (NYSE:MJ), one of the largest cannabis ETFs on the market, on Wednesday will pay a quarterly dividend of 28 cents per share to shareholders of record as of the close of business on Sept. 23. The dividend represents an annualized yield of 4.66%.
NORML's Lobby Day In NJ
In an effort to push for the legalization of adult-use cannabis in New Jersey, the state's National Organization for the Reform of Marijuana Laws chapter, Garden State NORML, will conduct a lobby day and rally to support SB2703: the New Jersey Cannabis Regulatory and Expungement Aid Modernization Act.
Other Corporate News
Two companies are expected to report their quarterly financials on Monday.
Akerna Corp. (NASDAQ:KERN), a seed-to-sale regulatory compliance technology provider and Enterprise Resource Planning (ERP) software technology developer, will post its results for the fourth quarter and fiscal year ended June 30. HempAmericana, Inc. (OTC:HMPQ) will report its second-quarter results.
Last week, Cresco Labs Inc (OTC:CRLBF) announced entering into an agreement with a group of investment dealers led by Canaccord Genuity to offer them an aggregate of 7.35 million units at a price of CA$10 ($7.53) apiece and approximately 1.10 million units as an over-allotment option. Each unit includes one subordinate voting share and one half of a purchase warrant to acquire one share at CA$12.50 apiece for a period of three years following the closing date.
The offer is expected to close on Tuesday and comes following the announcement that Cresco will buy certain assets from Tryke Companies, including six dispensary locations in Nevada and Arizona, expanded licensed cultivation and process capacity in Las Vegas and Phoenix, as well as entry into the Utah market.
Click here for more information about the upcoming Benzinga Cannabis Capital Conference Oct. 22-23 in Chicago.
CanEx Jamaica will take place Thursday-Saturday in Montego Bay. Among the speakers at the event will be Benzinga Cannabis' Managing Director Javier Hasse.
On Tuesday and Wednesday, Berlin will host the European Medical Cannabis Conference.
CannMed 2019 will take place on Monday and Tuesday at the Pasadena Convention Center in California.
Cannabis World Congress & Business Expowill take place Thursday-Saturday in Los Angeles, California.
On Saturday and Sunday, CannaCon South's Fall Edition will take place at the Cox Convention Center, Oklahoma City, Oklahoma.
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