The Week In Cannabis: Peltz's Departure, Earnings, Stocks Slightly Down
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%.
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.
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.
C21 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.
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."
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 Robotics
Top Spanish stories:
- Martín 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
- Alimentación, Cannabis y Paranoia con Narda Lepes
- La Marca del Deseo: Conocé a Acertijo, el Campeón de la Red Bull Chilena
- ¿Cómo se Hace el LSD?
- 0800 Don Rouch, el Joyero del Trap Argentino
- Saramalacara: Trap, Shitposting y Nerdeadas Fumonas
- Consumo Responsable: la Interacción del Cannabis con Otras Sustancias
- Qué es 420: Te Explicamos lo que Significa el Famoso Número
Lead image by Ilona Szentivanyi. Copyright: Benzinga.
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