One of the big Canadian public producers got itself a brand new executive leader this week.

Meanwhile, a dispute between a cannabis investment company and its shareholders intensified.

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


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Aurora Cannabis names new CEO

Miguel Martin has been appointed the new CEO of Aurora Cannabis (NYSE:ACB,TSX:ACB).

“Miguel is a highly experienced executive with an exceptional track record of performance in a number of consumer products categories,” said Michael Singer, now ex-interim CEO for the company.

“After an extensive search which included evaluation of many highly-respected candidates, Miguel stood apart with both strong commercial and cannabinoid sector expertise, as well as his passion for Aurora’s success,” Singer added in a statement.

Martin previously served as an executive with electronic cigarette-maker Logic Technology.

Aurora also took the opportunity to give investors a business update and offered unaudited preliminary results for its fourth fiscal quarter.

According to the producer, it now expects its net revenue line for the period to fall between C$70 million and C$72 million, lower than the C$75.5 million recorded in the previous quarter.

Shareholder dispute continues

This past week, Australis Capital (CSE:AUSA,OTC Pink:AUSAF) told the market it met with the disgruntled shareholders it’s having a dispute with; after that, the company issued a letter to the group.

In its letter, the company claims the group did not meet with the leaders of the firm in good faith.


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“While some members of your group have at times made a number of valid points and continued to do so on Friday, other members of your group and your public communications have continued to demonstrate a propensity to fabricate and obfuscate,” wrote Harry DeMott, director of Australis Capital.

The investor group in contention with the company issued its own statement following the letter from Australis. In its statement, the investors dispute the intentions of the board in the wake of the recent missed acquisition strategy.

The shareholder group is now issuing an ultimatum to the company: “We call on the members of this self-serving, self-interested and self-preserving Board to STAND DOWN to the will of the holders of nearly 40 (percent) of Australis’ outstanding shares.”

Cannabis company news

  • Village Farms International (NASDAQ:VFF,TSX:VFF) announced it plans to acquire the remaining shares it does not own already of cannabis producer Pure Sunfarms, a joint venture managed with Emerald Health Therapeutics (CSE:EMH,OTCQX:EMHTF), in a deal worth C$79.9 million.
  • High Tide (CSE:HITI,OTCQB:HITIF) told its shareholders it will release its Q3 operational results next week, on September 16.
  • Liberty Health Sciences (CSE:LHS,OTCQX:LHSIF) gave investors a sneak peek into the progress on its LHS360 facility in Gainesville, Florida.

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.


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Avicanna Inc. (the “ Company ” or “ Avicanna ”) (TSX: AVCN) announced today that it has been issued a Cease Trade Order (“ CTO ”) by the Ontario Securities Commission (the “ OSC ”) as it no longer expects to file the following periodic disclosure documents (collectively, the “ Documents ”) by June 11, 2021, as previously disclosed:

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Adds two accomplished female directors to the Board

Trulieve Cannabis Corp. (“Trulieve” or the “Company”) (CSE: TRUL) (OTCQX: TCNNF), a leading and top-performing cannabis company in the United States today announced the results of its Annual and Special Meeting of Shareholders held on June 10, 2021 (the “Meeting”). Each of the eight individuals nominated for election as a director of Trulieve at the Meeting were elected, including new nominees, Giannella Alvarez and Jane Morreau .

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The National Football League (NFL) wants to know more about cannabis as a pain reliever, and it’s willing to put up an initial US$1 million for research.

Also this week, a cannabis operator announced plans to buy assets from a languishing producer.

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Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “the Company”), a leading and top-performing cannabis company based in the United States announced today the opening of a new Florida dispensary, the Company’s 89th nationwide.

The dispensary will be located next to the Citrus Park Town Center and helps meet Trulieve’s goal of ensuring medical cannabis patients across Florida have safe, reliable access to the medications they rely on. The facility joins four other Tampa dispensaries, as well as several more in nearby Clearwater , St. Petersburg , and Largo.

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On June 10, 2021, RCP23, LLC (the “Seller”), a private investment holding company controlled by Benjamin Kovler, CEO and Chairman of Green Thumb Industries Inc. (the “Issuer”) (CSE: GTII) (OTCQX: GTBIF), sold 1,666,667 Subordinate Voting Shares of the Issuer (the “Transferred Shares”) to a third-party qualified institutional buyer at a purchase price of US$30.00 per share in a private transaction.

“This transaction brings Green Thumb a new institutional shareholder who is aligned with management’s long-term vision,” said Manager of RCP23 Benjamin Kovler.  “RCP23 has historically sold shares on behalf of our legacy shareholders who invested prior to Green Thumb going public.”

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