Cannabis Countdown: Top 10 Marijuana Stock News Stories Of The Week
Without further ado, let’s get started.
The founder and former CEO of Canopy Growth (TSX:WEED) (NYSE:CGC) Bruce Linton announced his highly anticipated return to the cannabis industry. Amongst his list of initiatives were various new advisory roles and investments within the cannabis sector which included his activist investment in Slang Worldwide (CSE:SLNG) (OTCPK: SLGWF).
In addition to his cannabis-related endeavours, Linton disclosed that he is also entering the new frontier of psychedelics.
The Niagara facility boasts an impressive automated system that includes moving container benches and automatic potting machines which were designed to increase yields, reduce expenses, limit risk and allow the company to produce continuous year-round premium cannabis harvests.
Aleafia’s Niagara Greenhouse is truly a sight to behold, take the virtual tour and see for yourself.
Alliance Global analyst Aaron Grey has initiated coverage on four cannabis stocks.
The analyst issued a buy rating on all four stocks which included Acreage Holdings (CSE:ACRG) (OTCQX:ACRGF), Village Farms (TSX:VFF) (NASDAQ:VFF), Green Thumb (CSE:GTII) (OTCQX:GTBIF) and GrowGeneration (OTCQX:GRWG).
As per the terms of the deal, iAnthus will pay Sierra Well $22.5 million in iAnthus stock and $5.1 million in cash.
Valens will supply cannabis oil gelcaps and tinctures to Shoppers Drug Mart’s e-commerce division, Medical Cannabis by Shoppers.
The company posted revenue of $19 million and adjusted EBITDA of $3.2 million. Adjusted EBITDA came in above analyst estimates of $0.85 million.
Cresco Labs (CSE:CL) (OTCQX:CLRBF) reported that its acquisition of Origin House (CSE:OH) (OTCQX:ORHOF) is now significantly closer to completion following the company’s substantial compliance with the DOJ’s second request for information.
Cresco Labs and Origin House are now set to complete the transaction by November 15, 2019, at the latest.
The verdict is finally in on CannTrust Holdings (TSX:TRST) (NYSE:CTST) after it was reported that Health Canada informed the company of its decision to suspend its cannabis cultivation and sales licenses.
Health Canada dropped the hammer on CannTrust, but is there still light at the end of the tunnel?
After nearly two months of waiting, Bruce Linton is making his long-awaited return to the industry he helped build.
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