A flagship cannabis exchange-traded fund (ETF) revealed its latest quarterly changes this week, including the removal of seven stocks from its index.

Meanwhile, a cannabis investment company made official the announcement of a new CEO and board member as it tries to resolve a disagreement with a core group of shareholders.


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

 

Cannabis - Will The Fortune 500 Join The Party?

 
Our Exclusive FREE Report Contains Information You NEED To Know About Cannabis Stock Investing!
 

Cannabis ETF cuts seven stocks

Horizons ETFs Management (Canada) announced this week the most recent rebalancing of its two cannabis ETFs, the Horizons Marijuana Life Sciences Index ETF (TSX:HMMJ) and the Horizons US Marijuana Index ETF (NEO:HMUS).

According to Horizons ETFs, securities in the HMMJ index should have market capitalizations of over C$75 million. President and CEO Steve Hawkins said he’s seen momentum shift from Canada-based names to the US side of the market with the performance of multi-state operators below the border.

“Despite a strong recovery in Q2 2020 following the market volatility in March, Canada’s marijuana industry struggled in the third quarter in the face of COVID-19’s continued pressure on businesses and a lack of positive news to buoy the sector,” Hawkins said.

Amid these changes, seven cannabis stocks were demoted from the HMMJ index:

  • Agraflora Organics International (CSE:AGRA,OTC Pink:AGFAF)
  • The Supreme Cannabis Company (TSX:FIRE,OTCQX:SPRWF)
  • Khiron Life Sciences (TSXV:KHRN,OTCQX:KHRNF)
  • Namaste Technologies (TSXV:N,OTCQB:NXTTF)
  • Pharmacielo (TSXV:PCLO,OTCQX:PCLOF)
  • Sundial Growers (NASDAQ:SNDL)
  • WeedMD (TSXV:WMD,OTCQX:WDDMF)

Investment company appoints new CEO as it faces dispute

Australis Capital (CSE:AUSA,OTCQB:AUSAF), an investment arm spinoff of Aurora Cannabis (NYSE:ACB,TSX:ACB), is facing a standoff with a group of disgruntled shareholders who are asking the company meet its demands regarding changes in leadership.

After various back-and-forth statements, Australis has now told the market it has made Harry DeMott, former founding investor of Columbia Care (NEO:CCHW,OTCQX:CCHWF), its new CEO.

“Having witnessed the opportunities firsthand as an investor and operator in the space, I truly believe that the time to invest in and build branded cannabis assets is now,” DeMott said in a statement.

 

Cannabis - Will The Fortune 500 Join The Party?

 
Our Exclusive FREE Report Contains Information You NEED To Know About Cannabis Stock Investing!
 

Back in August, the investors issued a statement demanding the company made changes given what they called mismanagement regarding a missed acquisition deal by Australis.

Eventually, the company held a meeting with the investors who wanted the changes. However, the meeting failed to create a resolution as both parties claimed bad faith from one another in the gathering.

Alongside the new executive is the appointment of Rick Cutler as an independent member of the Australis board of directors. Cutler comes in as the company confirmed the resignation of John Dover from its board. Earlier this year, the company also saw its former CFO Michael Carlotti depart.

“Having known Rick for well over a decade, I feel confident that he adds a level of experience with branded products that is unmatched at AUSA, and that he will be a valuable addition to the team,” DeMott added in the release.

Cannabis company news

  • Inner Spirit Holdings (CSE:ISH) opened two new stores in the provinces of Ontario and Newfoundland and Labrador, boosting its total of Spiritleaf-branded stores to 60 in the country.
  • Aphria (NASDAQ:APHA,TSX:APHA) confirmed the first delivery of an unspecified medical cannabis shipment from its facility to its German distributor subsidiary, CC Pharma.
  • TerrAscend (CSE:TER,OTCQX:TRSSF) told investors it has launched sales from the new San Francisco cultivation facility of its investee company, State Flower.
  • Neptune Wellness Solutions (NASDAQ:NEPT,TSX:NEPT) gave its shareholders an extensive update on its business amid the global COVID-19 pandemic.

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.

 

Cannabis - Will The Fortune 500 Join The Party?

 
Our Exclusive FREE Report Contains Information You NEED To Know About Cannabis Stock Investing!
 

Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) (“Curaleaf” or the “Company”), a leading international provider of consumer products in cannabis, today announced Boris Jordan Curaleaf Executive Chairman, will participate in Cantor Fitzgerald’s cannabis focused “Weednesday Series” investor fireside chat on June 30, 2021 at 11:00 am ET .

The event will be hosted by Pablo Zuanic , Managing Director, U.S. Consumer and Cannabis Equity Analyst at Cantor Fitzgerald and will be webcast live. To access the fireside chat webcast, please visit the investor relations section of the Curaleaf website, under the events tab, at https://ir.curaleaf.com/events .

Keep reading... Show less

Code Investment Love Hemp Announces Major Deal that Will See Anthony Joshua as Brand Ambassador and Collaborator on Licensed Range of CBD Products for Athletes

Codebase Ventures Inc. (“Codebase” or the “Company”) (CSE:CODE)(FSE:C5B)(OTCQB:BKLLF) is excited to announce that the Company’s investment, Love Hemp Group Plc. has signed a major endorsement agreement with World Heavyweight Champion, Anthony Joshua, (https:twitter.comanthonyjoshua

Keep reading... Show less

Canbud Distribution Corporation (CSE: CBDX) (FSE: CD0) (“Canbud” or the “Corporation”) is pleased to announce that its subsidiary Empathy Plant Co. has joined Plant-Based Foods of Canada (PBFC).

PBFC was founded in 2018 and has since acted as the collective voice of plant-based food companies. As a division of Food, Health & Consumer Products of Canada (FHCP), they work to keep consumers, governments and industry participants informed about the benefits of plant-based foods. The goal of PBFC is to move regulations forward to support innovation, growth and make plant-based eating more available to the masses.

Keep reading... Show less

 Trulieve Cannabis Corp. (” Trulieve ” or the ” Company “) (CSE: TRUL) (OTC: TCNNF) and Harvest Health & Recreation Inc. (” Harvest “) (CSE: HARV) (OTCQX: HRVSF) today  announced the expiration of the 30-day waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the “HSR Act”) in connection with the previously announced proposed acquisition (the “Transaction”).

Trulieve CEO Kim Rivers commented, “Completion of the HSR milestone is exciting and we will continue to work toward closing this strategic transaction. Upon closing, we expect to leverage the expertise and resources of the combined companies to realize meaningful scale and expansion for years to come.”

Keep reading... Show less

Little Green Pharma Ltd (ASX: LGP) has acquired a world-class, fully-operational, GMP medicinal cannabis cultivation and manufacturing facility in Denmark from Canopy Growth Corporation (TSX:WEED, NASDAQ: CGC).

The facility, located in Northern Odense , has the capacity to produce in excess of 12 tonnes per annum of finished flower and provides LGP with much-needed product supply from its current inventory of ~1 tonne of medicinal cannabis flower products.

Keep reading... Show less