Cannabis Countdown: Top 10 Marijuana And Psychedelic Stock News Stories Of The Week
Welcome to the Cannabis Countdown. In This Week’s Edition, We Recap and Countdown the Top 10 Marijuana and Psychedelic Stock News Stories for the Week of May 4th – 10th, 2020.
Without further ado, let’s get started.
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As the Founder, CEO and Chairman of MediPharm Labs (OTCQX:MEDIF), McCutcheon was instrumental in creating one of the cannabis sector’s only profitable Pot Stocks. McCutcheon’s capital raising expertise, leadership skills and business acumen will be valuable assets for Champignon Brands (OTCQB:SHRMF) as it begins to accelerate its North American expansion of new Psychedelic clinics.
There are three Marijuana Stocks that look especially appealing right now. Here’s why Innovative Industrial Properties (NYSE:IIPR), Green Thumb (OTCQX:GTBIF) and Scotts Miracle-Gro (NYSE:SMG) are top cannabis stocks to buy in May.
Ahead of quarterly Earnings from Aurora Cannabis (NYSE:ACB) due next week, PI Financial’s Jason Zandberg said to be prepared for a COVID-19-inspired negative impact on the company’s finances. In an update to clients on Wednesday, Zandberg maintained his “Neutral” rating and $2 target price, which at press time represented a projected 12-month return of 102%.
Constellation Brands (NYSE:STZ) exercised nearly 19 million warrants boosting its ownership position in Canopy Growth (NYSE:CGC) to over 142 million shares. After acquiring the new shares, here’s what Constellation Brands’ Canopy Growth position looks like now.
MindMed (OTC:MMEDF) announced that it has entered into a letter of engagement to conduct a bought deal with Eight Capital as the sole bookrunner and lead underwriter. The Psychedelics firm priced its financing at $0.53 per share for gross proceeds of $10,000,040.
Aphria (NYSE:APHA) announced that it has entered into an agreement with certain convertible debt holders to repurchase outstanding debt at a significant discount to the face value of that debt. What’s more, is that the majority of the debt repurchase is being settled via the issuance of common shares with a small cash component involved.
Aleafia Health’s (OTCQX:ALEAF) wholly-owned subsidiary Emblem Cannabis has secured a Health Canada licence amendment for its Paris Facility’s 30,000 sq. ft. Phase II expansion, entirely dedicated to the extraction, production, packaging and distribution of finished cannabis products.
Building off the recent AltMed deal, which saw Champignon Brands (OTCQB:SHRMF) acquire the Health Canada licensed CRTCE clinic, Champignon intends to open/acquire at least 5 new clinics in 2020. The Psychedelics leader disclosed that it continues to hold discussions with revenue-generating clinics in New York, California, Florida, Pennsylvania, Texas and Missouri.
In short, Psychedelics may change the way we look at medicine – and significantly help improve the health and mental state of millions of people around the world. If that’s the case, a market value estimate of $5 billion may be at the very low end. As the growth story unfolds, some of the companies to keep an eye on include: Champignon Brands (OTCQB:SHRMF), MindMed (OTC:MMEDF), GW Pharma (NASDAQ:GWPH), Revive Therapeutics (OTCPK: RVVTF) and The Yield Growth (OTCQB:BOSQF).
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