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.

US Election 2020 and Cannabis

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

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.

US Election 2020 and Cannabis

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

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.

– 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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Receipt of licence will be a major milestone in the Company’s commercialization and white-label plans

Emerging leader in infused cannabis beverages, BevCanna Enterprises Inc. (CSE:BEV, OTCQB:BVNNF, FSE:7BC) (“ BevCanna ” or the “ Company ”) is pleased to announce that it has moved to the Final Review Stage for a Standard Processing Licence from Health Canada.

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 Nutritional High International Inc. (CSE: EAT) (OTC Pink: SPLIF) (“Nutritional High” or the “Company”) is pleased to announce that the Company has completed the proposed conversion of the 10% senior unsecured convertible Debentures (the “10% Debentures”) described in the management information circular dated September 17, 2020.

In accordance with the amendment approved at the meeting of the Debentureholders held on October 8, 2020, approved by the Canadian Securities Exchange, the Company has completed the forced conversion of the 10% Debentures at $.02 per share.

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 Nutritional High International Inc.(CSE: EAT) (OTC Pink: SPLIF) (“Nutritional High” or the “Company”) announces today that it has made an application to the Ontario Securities Commission to approve a temporary management cease trade order (“MCTO”) under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”), which, if granted, will prohibit trading in securities of the Company by its Chief Executive Officer, Chief Financial Officer and certain other insiders of the Company, whether direct or indirect, so long as the 2020 Filings (as defined below) remain outstanding. The issuance of an MCTO would generally not affect the ability of persons who are not, or who have not been, directors, officers or other insiders of the Company to trade in the Company’s securities.

In discussion with its auditors, the Company has determined that it is not able to meet the November 30, 2020 filing deadline (the “Filing Deadline“) for its audited financial statements for the year ended July 31, 2020, the management’s discussion and analysis and the related CEO and CFO certification relating to the 2020 financial statements (collectively, the “2020 Filings“). Although the audit process is progressing, the auditors anticipate some delays in completing the audit process, such that the Company is not able to meet the Filing Deadline for the 2020 Filings.

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 Aion Therapeutic Inc. (CSE: AION) (“Aion Therapeutic” or the “Company”) announced today that the Company has entered into a convertible debenture extension and amendment agreement (the “Amending Agreement”) dated October 29, 2020 with Quinsam Capital Corporation (the “Lender”). The Amending Agreement amends certain terms of the 10% convertible debenture dated November 1, 2017 in the principal amount of $262,500 and the 10% convertible debenture dated December 10, 2017 in the principal amount of $237,500, in each case, issued by the Company in favour of the Lender (collectively, the “Convertible Debentures”).

Under the terms of the Amending Agreement, the Lender has agreed to extend the maturity dates of the Convertible Debentures from November 1, 2020 and December 10, 2020, respectively, until April 30, 2021 (the “Amended Maturity Date“). The Amending Agreement also provides that interest on the principal amount outstanding under the Convertible Debentures will be payable by the Company at the originally stated interest rate of 10% per annum until their respective original maturity dates and, thereafter, at the amended interest rate of 12% per annum until the Amended Maturity Date. In addition, the conversion terms of the Convertible Debentures were amended to provide that the outstanding principal owing under the Convertible Debentures may be converted into common shares of the Company at a price of $0.125 per common share instead of $0.15 per common share. All other terms and conditions of the Convertible Debentures remain unchanged. In consideration for the amendments under the Amending Agreement, the Company agreed to pay to the Lender an extension fee of $20,000.

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