In the marijuana space this week, investors in one of the big Canadian cannabis producers found out just how well the company has been performing for the past year.

In the US market, a multi-state operator (MSO) announced its entry into the New York market.


Keep reading to find out more cannabis highlights from the past five days.

US Election 2020 and Cannabis

 
Investing in cannabis? Read what experts have to say about cannabis and the US Election!
 

Aurora reports C$3.3 billion loss in fiscal year

Aurora Cannabis (NYSE:ACB,TSX:ACB) has released the results from its fourth fiscal quarter for the market to evaluate. Miguel Martin, the new CEO of the company, told investors his goal is to reposition Aurora’s products and get back to a leading position in the Canadian market.

“Through successful execution, I believe what we build in Canada will be very portable to other larger global cannabinoid markets,” Martin said.

In terms of operations, the most notorious line from Aurora’s report was a net loss of C$3.3 billion for its 2020 fiscal year, which ended on June 30.

Meanwhile, the company reported total net revenue of C$72.1 million for the last quarter of its fiscal year, indicating a small decline from the previous reporting period.

The company is now expecting to produce cannabis net revenue of C$60 million to C$64 million for the first quarter of its 2021 fiscal year, a decrease from the C$67.5 million achieved in its fourth fiscal quarter of 2020. The Aurora team is still expecting to reach positive adjusted earnings before interest, taxes, depreciation and amortization in Q2 2021.

Curaleaf makes New York entrance with Select brand

Curaleaf Holdings (CSE:CURA,OTCQX:CURLF) launched its Select brand of products in the New York medical cannabis market. The first item launched was its Select Elite cannabis oil cartridges.

US Election 2020 and Cannabis

 
Investing in cannabis? Read what experts have to say about cannabis and the US Election!
 

As part of the product launch in the state, the company is also making two separate undisclosed financial donations to Women Grow and the Equity Organization. Curaleaf plans to let investors know sometime later this year about a full social equity plan.

This launch represents the 13th state in which the Select brand is available.

Cannabis company news

  • Canopy Growth (NYSE:CGC,TSX:WEED) and Acreage Holdings (CSE:ACRG.U) told investors that an amended arrangement between them went into effect this past week. “The amended arrangement provides Canopy the most efficient entryway into the US, once federally permissible, and we believe will continue to benefit shareholders of both companies over the long-term,” Canopy Growth CEO David Klein said.
  • The Supreme Cannabis Company (TSX:FIRE,OTCQX:SPRWF) released its financial report for its 2020 fiscal year, which ended on June 30. “Fiscal 2020 was an important transitional year for Supreme Cannabis where we streamlined our operations, reorganized our team, and expanded our portfolio of brands and products that will drive sustainable revenue growth,” said Beena Goldenberg, president and CEO of Supreme Cannabis.
  • PharmaCielo (TSXV:PCLO,OTCQX:PCLOF) confirmed it has expanded the portfolio of offerings from its Rionegro facilities in Colombia. These products include a wide range of CBD items.
  • Harvest Health & Recreation (CSE:HARV,OTCQX:HRVSF) opened a new store in Phoenix, Arizona. The company now has 15 stores in the state.

Don’t forget to follow us @INN_Cannabis for real-time updates!

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

Harvest Health & Recreation Inc. (CSE: HARV) (OTCQX: HRVSF), a vertically integrated cannabis company and multi-state operator in the U.S., today announced the opening of a new medical dispensary in King of Prussia, Pennsylvania .

Harvest of King of Prussia is located at 826 W Dekalb Pike, King of Prussia and is open Monday through Saturday from 9:00 am to 7:00 pm and Sunday from 10:00 am to 6:00 pm .  Additional Harvest affiliated dispensaries in Pennsylvania are located in Camp Hill , Cranberry Township , Harrisburg , Johnstown , Reading (two locations), and Scranton .

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On October 29, 2020, RCP23, LLC (the “Seller”), a private investment holding company controlled by Benjamin Kovler, CEO and Chairman of Green Thumb Industries Inc. (CSE: GTII) (OTCQX: GTBIF) (the “Issuer”), sold 5,500,000 Subordinate Voting Shares of the Issuer (the “Transferred Shares”) to a third-party qualified institutional buyer at a purchase price of C$19.25 per share in a private transaction. Prior to the sale, at Seller’s request, the Issuer converted 54,805 Super Voting Shares and 49,448 Multiple Voting Shares of the Issuer previously held by the Seller into an aggregate 10,425,300 Subordinate Voting Shares per the terms of the Issuer’s Articles of Incorporation, as amended.

Following the sale, Mr. Kovler, together with his joint actors, holds beneficial ownership or control or direction over 183,254 Super Voting Shares, which represent 56.5% of the class, 0 Multiple Voting Shares, and 5,068,016 Subordinate Voting Shares, which represent less than 2.9% of the class. Each Super Voting Share carries 1,000 votes and is convertible into one Multiple Voting Share and each Multiple Voting Share carries 100 votes and is convertible into 100 Subordinate Voting Shares (each of which carries one vote).

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NYSE | TSX: ACB

  • Filed Final Base Shelf Prospectus
  • Reiterates Guidance on Previously Provided Fiscal 2021 First Quarter Financial Results
  • Expects Full Compliance With All Fiscal Q1 Financial Covenants

Aurora Cannabis Inc. (the ” Company ” or ” Aurora “) (NYSE | TSX: ACB), the Canadian company defining the future of cannabinoids worldwide, today announced it has filed and been receipted on a final short form base shelf prospectus (the “Shelf Prospectus”) with securities regulators in each of the provinces of Canada except Quebec and a corresponding shelf registration statement on Form F–10 (the “Registration Statement”) with the United States Securities and Exchange Commission (the “SEC”).

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– Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Aurora Cannabis Inc. (NYSE: ACB) between February 13, 2020 and September 4, 2020 inclusive (the “Class Period”), of the important December 1, 2020 lead plaintiff deadline in the securities class action. The lawsuit seeks to recover damages for Aurora investors under the federal securities laws.

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 BioHarvest Sciences Inc. (“BioHarvest” or the “Company”) (CSE: BHSC) announces that it has added Advocate Roberto Chait to the Company’s Advisory Board.

Adv. Chait brings to the Company a wealth of experience in corporate and international trade law, intellectual property law, and cross border international transactions. His knowledge and expertise in these areas have been acquired representing major global clients across highly relevant industries for the Company including the Food and Beverage, Food Tech, and International Media industries.

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