To showcase growing support for cannabis in the US market, a wellness product maker released the results of a poll showing how views on the drug are shifting.

In other news this week, two Canadian producers shared updates, with one discussing a particular advisor and the other commenting on the state of an outdoor growing operation.


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

 

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Neptune commissions polls on US cannabis sentiment

With the US presidential election approaching, Neptune Wellness Solutions (NASDAQ:NEPT,TSX:NEPT) tasked OnePoll with surveying Americans on their stance on federal cannabis regulation in the country.

Overall, the study found that 71 percent of Democrats and 67 percent of Republicans surveyed think cannabis shouldn’t be a federally restricted substance.

Neptune is using the survey results as a way to promote its products and its ability to engage consumers.

“In preparation for potential nationwide US legalization, if a bill passes in the House and Senate, Neptune is proactively preparing for mass distribution into new markets,” the company said.

However, it’s worth noting that experts don’t think sweeping federal legislation is likely in the near future, regardless of if Donald Trump is re-elected or Joe Biden brings a Democratic shift in the White House.

Despite that sentiment, cannabis will be a big issue at the state level in November as five states will vote on different versions of legalization programs for their markets.

Aurora Cannabis parts ways with touted advisor

To much fanfare last March, Aurora Cannabis (NYSE:ACB,TSX:ACB) added Nelson Peltz as an advisor, saying he would guide the company in hunting big investments. Now he’s on his way out.

Peltz is the co-founder of Trian Fund Management, a New York-based multibillion-dollar asset management operation. Aurora confirmed Peltz’ official role ended last Friday (September 25) since he wants to “pursue other commitments.”

At the time of his hiring last year, Peltz was granted the option to secure 20 million shares of the company at an adjusted price of C$10.34 each.

“We believe he could be instrumental in facilitating discussions with large CPG companies,” Martin Landry, GMP Securities analyst, wrote in a note to investors following the Peltz appointment.

However, things have gone south for the company since Peltz joined given larger dips in the cannabis space. For Aurora, these losses represent a lower valuation and a significant share price drop.

 

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Public grower anticipates largest outdoor crop in Canada

SpeakEasy Cannabis (CSE:EASY) is on the cusp of harvesting what it expects to be the biggest outdoor crop of cannabis — 70,000 kilograms picked up from 24 hectares — seen so far in the market.

“As far as we know, as best we can tell, this will be the largest harvest in Canadian history,” Marc Geen, founder of SpeakEasy, told CBC in anticipation of a crop set to be harvested over the next few weeks.

The company confirmed last Monday (September 21) that the harvest had begun.

“The harvest is expected to continue for the next 3-4 weeks and will yield flower and extract material suitable to make any concentrate the market demands,” the company told investors.

Cannabis company news

  • iAnthus Capital Holdings (CSE:IAN,OTCQX:ITHUF) issued an update to shareholders on the status of a court ruling on an arrangement plan for a pending recapitalization transaction.
  • Village Farms International (NASDAQ:VFF,TSX:VFF) told the market its cannabis producer subsidiary, Pure Sunfarms, has obtained a permit to sell cannabis extract, as well as edible or topical products developed by the company.
  • Australis Capital (CSE:AUSA,OTCQB:AUSAF) appointed Sameer Kumar as the new director of its board. Kumar comes to the investment company with previous experience in the US cannabis space as the former COO of VIOLA Brands.
  • The Valens Company (TSX:VLNS,OTCQX:VLNCF) launched a new cannabis drink for the Canadian recreational market. The lemonade iced tea beverage, called Summit 10, contains 10 milligrams of THC and is sold in a 355 milliliter bottle.
  • Avicanna (TSX:AVCN,OTCQX:AVCNF) confirmed its products will enter the US market. In particular, the company will develop hemp-derived cannabinoid-based products for an undisclosed US distributor. “We also take pride in being selected by world class partners to provide our technology and intellectual property which in turn provides additional sources of revenue in the form of royalties,” said Aras Azadian, CEO of Avicanna.

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

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAWS/

Avicanna Inc. (the “ Company ” or “ Avicanna ”) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) is pleased to announce that all of management’s nominees listed in the Company’s management information circular dated May 25, 2021 were elected as directors of the Company at Avicanna‘s annual general meeting of shareholders held on June 24, 2021 (the ” Meeting “). The detailed results of the vote for the election of directors held at the Meeting are set out below.

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Quantum 1 Cannabis (CSE:QQ) announced its revenue for the third quarter of 2021 has increased by 672 percent and gross profit has increased by 463 percent compared with the same quarter in 2020. Quantum 1 Cannabis CEO Russ Rossi expounded on this exponential growth and what’s behind this remarkable leap. 

“We had an opportunity during our cannabis training to opt into some leases for cannabis retail. So we thought, let’s take a shot at this and see if we can use our experience with mobile location and supercharge. It paid off. It was a new game for everybody. It’s a lot of luck when opportunity meets preparation,” said Rossi. 

Quantum 1 Cannabis attributed the growth to high month-over-month sales coming from its flagship store in North Vancouver, improved demand for specialized “cottage-grown” sativa and indica products, continued training and hiring of best-of-breed staff and management to cater to consumer inquiries and expanded in-house technology for management of human resources, inventory and regulatory requirements. 

“Our plan is to have the maximum number of retail stores possible in British Columbia. We have 10 year leases on these stores, putting everything in on a solid pitch for the city council. I’m pretty confident that we’re going to have eight centers full blast in BC within six months,” explained Rossi. 

Quantum 1 Cannabis has signed a memorandum of understanding to acquire an approved municipal cannabis retail location in one of Vancouver’s most diverse neighborhoods at 41st Avenue and Cambie Street in Vancouver, British Columbia. The flagship location is expected to expand the company’s footprint in the Lower Mainland.

Watch the full interview with Quantum 1 Cannabis (CSE:QQ) CEO Russ Rossi above.

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Process leads to standardized psychedelic extracts that are reproducible, scalable, cost-effective and commercially viable

Numinus Wellness Inc. (“Numinus” or the “Company”) (TSXV: NUMI), a mental health care company advancing innovative treatments and safe, evidence-based psychedelic-assisted therapies, is pleased to announce that its subsidiary Numinus Bioscience Inc. (“Numinus Bioscience”) has filed a provisional patent application with the United States Patent and Trademark Office (USPTO) for a process that dramatically increases the production of therapeutics for use in psychedelic-assisted psychotherapy.

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Opening Marks Company’s 107th Retail Location Nationwide

Strategic Expansion Will Help Serve the State’s Rapidly Growing Cannabis Market

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Ayurcann (CSE:AYUR) entered into a joint venture with Bazelet Group, Israel’s largest privately held medical cannabis company. Ayurcann CEO Igal Sudman shared the company’s excitement about bringing unique terpene-enriched medicinal cannabis to the Canadian marketplace. 

“Canada is a very closed-loop country, and the opportunity to bring a variety of different enhancement and technologically advanced products is very important to us. The relationship that we formed with Bazelet is going to enhance our offerings into the Canadian marketplace,” Sudman said. 

Bazelet has launched multiple lines of terpene-enriched cannabis oils; each one is specifically designed for various indications, symptoms and personal needs. The company’s terpene-enriched products are optimized for women’s health, for elderly population needs, for specific types of pains (muscle, joint, neuropathic) and for improved night sleep. 

According to Sudman, there are a lot of larger companies that have tried to do this, but none have been able to successfully bring innovation into the market. Ayurcann is rapidly forging partnerships with several companies worldwide, including Cannmart, Patient Choice and Kindred Partners.

“We’re growing the business, customer base, relationships and partnerships worldwide. We’re bringing the latest technology into Canada, and enhancing not only our company, but the investors’ value moving forward,” added Sudman. 

Watch the full interview with Ayurcann CEO Igal Sudman above.

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