The past trading week (June 26-June 30), saw a variety of interesting movements with some of the biggest Canadian cannabis stocks releasing financial reports into their business. In Europe, there were two reported new locations gearing towards some form of marijuana legalization.
Over the five-day trading period, the Marijuana Life Sciences Index ETF (TSX:HMMJ) saw a 4.5 percent decrease overall. As of 11:10 a.m. EST, the cannabis ETF traded at $8.48. Year-to-date HMMJ has dropped 17.27 percent.
Across the pond and over in Spain, it was reported on Wednesday (June 28) the region of Catalonia officially moved forward with legalization as the government takes care of regulating cultivation and consumption of the product.


As reported in the Spanish version of Huffington Post, this result is a novel one in Europe since it establishes a way to stop police from interfering in its system.
“We didn’t want to do something halfway,” said Alba Vergés a deputy official and the president of the Health Commission of Parliament. In addition, the law will seek to regulate how cannabis is transported.
Another positive regulation step was taken in Poland, with the AFP reporting the conservative lower house of parliament approved a policy to regulate medical marijuana.
“An opinion survey conducted in January found that 78 percent of Poles believe access to marijuana should be legal,” the AFP wrote.
Over in Canada, we saw the release of quarterly reports from some of the biggest companies in the public cannabis space. 
Also on Wednesday, MedReleaf (TSX:LEAF) reported earnings before interest, tax, depreciation, and amortization (EBITDA) of $14 million on $40 million in sales. CEO of MedReleaf Neil Closner said after the company’s IPO, it currently holds $74 million to fund their expansion including an international expansion.
Canopy Growth (TSX:WEED) released a report for their fourth quarter and fiscal 2017 year financial results. The Globe and Mail reported that while its patient base doubled in the last fiscal year, the company posted a loss for the year and the quarter.

“With a patient base that has more than doubled over the past year, to over 58,000, we have scaled up operations in all areas, including cultivation capacity, information technology, quality assurance, fulfillment and customer care,” Bruce Linton, Chairman & CEO of Canopy said in a statement. “Our expansion into developing medical cannabis markets, with established products and procedures under the Spectrum brand, has begun in Germany and Chile.”
Aurora Cannabis (TSXV:ACB; OTCQX:ACBFF) and WeedMD (TSXV:WMD) announced the establishment of a strategic relationship where the two companies agree to assist one another with product demand and patient education information.

WeedMD’s commitment under the agreement is to wholesale product to Aurora for demand above and beyond WeedMD’s own patient requirements. Pursuant to the agreement, WeedMD has made an initial sale to Aurora out of inventoried product, while ensuring that its retained supply is such that current and future patient needs can be met. Aurora, in turn, will assist WeedMD with its patient education and outreach program through the Company’s CanvasRx unit.

Terry Booth, CEO of Aurora said the move is beneficial for the two companies, while Bruce Dawson-Scully, CEO of WeedMD added the relationship will “accelerate [their] commercial development.”
This past week Tetra Bio-Pharma (CSE:TBP; OTCQB:TBPMF) announced it was expanding its scope and would enter the ped treatment sector using cannabinoid treatments.
“Tetra will create a Veterinary Advisory board consisting of veterinary specialists in the fields of ophthalmology, oncology and pain,” the company said in a statement.
Supreme Pharmaceuticals (TSXV:FIRE) announced Health Canada finally granted the company’s subsidiary 7ACRES with a sales license under the Access to Cannabis for Medical Purposes Regulations (ACMPR).
Don’t forget to follow us @INN_LifeScience for real-time news updates!
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: WeedMD is a client of the Investing News Network. Canopy Growth acquired Mettrum a client of the Investing News Network. This article is not paid-for content.

 

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** This article is updated each week. Please scroll to the top for the most recent information**

Cannabis Weekly Round-Up: Mexico Legalizes Medical Marijuana

June 25, 2017
It was another exciting week for the cannabis industry–from medical legalization in Mexico, companies debuting on ETFs and stocks making share price gains–proving yet again that there are no signs of the market slowing down.
With that in mind, here the Investing News Network (INN) breaks down some of the top news of the week in a cannabis weekly roundup.
In a move that had been in the works through lower chambers of government, Mexican President Enrique Pena Nieto officially accepted new legislation regarding cannabis. Now, the legislation allows the medical consumption of cannabis and its use for scientific research.  The physical product must contain 1 percent or less tetrahydrocannabinol (THC).


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This move represents a shifting culture in Mexico and many other Latin American countries as they seek to remove the stigma on drugs and even see a profit from the legalization of cannabis.
In the United States, a bill passed in the Massachusetts Senate updating the voter-mandated marijuana legalization law from last year’s election, which will allow retail shops to open by July 2018. This bill changed one from the House of Representatives which sought to “essentially repeal and replace” elements of Question 4–the ballot that voters passed last November, according to Leafly.
North of the American border, the Canadian cannabis market saw a lot of movement.
Firstly, Maricann (CSE:MARI) and Invictus MD (TSXV:IMH) made their debut on the Marijuana Life Sciences Index ETF (TSX:HMMJ). Both companies detailed the achievement and called it a significant move, which highlights their efforts in the industry.
The only ETF focused on cannabis companies, so far, saw an increase of 5.21 for the past week and closed the market at $8.88. On a year-to-date period, since its inception on April 6, HMMJ has decreased 13.37 percent.
The Hydropothecary Corporation (TSXV:THCX) announced it was successful in renewing its sales license from Health Canada, which will allow the company to “as much medical marijuana as it can store.” This license will be valid until October 15, 2019.
The ruling from Health Canada also included the approval for two new facilities, “without an onsite pre-licence inspection” which is in accordance with the agency’s streamlined licensing measurements. A move in response to what some experts have speculated will be a major problem from the Canadian cannabis industry as there might not be enough cannabis to satisfy the demand once recreational use becomes legal next year.

Michael Mona Jr. CEO of CV Sciences (OTCQB:CVSI) a company researching cannabinoid candidates and selling health products like hemp oils are facing fraud charges from the U.S. Securities and Exchange Commission, due to an overstated company reports from the first two quarters of 2013.
The company released a statement indicating they would defend themselves in this matter, however their stock saw decrease of 99.62 percent during the last five trading days. Closing on June 23 at $0.23.
Lastly for the cannabis weekly roundup is a look at stocks on the move The week saw two major cannabis companies with a significant increase in their stock: Canopy Growth (TSX:WEED) and Supreme Pharmaceuticals (TSXV:FIRE).
Canopy saw a 7.54 percent increase over the last five trading days and closed the week at $8.41. The company confirmed they will hold their earnings call on June 27. Speculation on their growth and sales numbers has boosted the stock ahead of the release.
Supreme, on the other hand, had a 4.03 percent rise thanks to a recent batch of license updates from Health Canada. The company finished the week at $1.29.
Don’t forget to follow us @INN_LifeScience for real-time news updates!
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Invictus MD is a client of the Investing News Network. Canopy Growth acquired Mettrum a client of the Investing News Network. This article is not paid-for content.
  • Company surpassed 5,600 patient prescriptions for its medical cannabis products in Colombia . Prescriptions filled increased over 450% in Q3 2020 over Q2 2020
  • Khiron declared a National Strategic Project by the Government of Colombia , simplifying and accelerating administration and processes for the Company in executing strategic projects in Colombia and for export
  • Subsequent to the quarter, the Company completed a bought deal financing on November 26, 2020 , selling 32,200,000 units at a price of $0.45 per unit for aggregate gross proceeds of $14,490,000 CAD
  • Khiron signed partnerships with 15 clinics and health centres in Colombia , extending education and sales reach further across the country
  • As a result of the Company’s Doctor Zerenia TM telehealth platform more than 25% of the Company’s medical cannabis prescriptions came from outside of Bogota , expanding geographic presence of its Colombian clinics
  • Company achieved first sales of High CBD medical cannabis through private pharmacies in Peru . Additional approval received from Peru’s drug regulatory authority for Company’s High THC cannabis, with first prescriptions anticipated in Q1 2021
  • Expanded medical cannabis E-Learning platform to UK market in partnership with Medical Cannabis Clinicians Society (“MCCS”)
  • Entered an exclusive partnership with Rappi SAS, Latin America’s largest home multi-vertical app platform to distribute the Company’s CPG product portfolio, introducing Kuida products to Rappi users across the LatAm region
  • Signed agreement to distribute the Company’s Kuida TM CBD skincare brand through pharmacy, beauty retail and online markets serving the Hong Kong territory, with first orders expected in Q4 2020
  • Prudent cash use of $5 million in Q3 2020, compared with $4 million in Q2 2020, $12 million in Q1 2020 and $10 million in Q4 2019

 Khiron Life Sciences Corp. (“Khiron” or the “Company”) (TSXV: KHRN ), (OTCQX: KHRNF), ( Frankfurt : A2JMZC), a vertically integrated cannabis leader with core operations in Latin America and Europe announced today its financial results for the quarter ended September 30, 2020 . These filings are available for review on the Company’s SEDAR profile at www.sedar.com All financial information in this press release is reported in Canadian dollars, unless otherwise indicated.

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  • Q3 Systemwide Pro Forma Revenue increased 18% quarter-over-quarter to $22.3 million , 170% year-over-year – Company became cash flow positive from operations in August
  • Company sale leaseback transaction with Innovative Industrial Properties scheduled to close within two weeks. As a result of close, together with proceeds from the recently closed bought deal financing, the Company will have $16 million of cash and $43 million in long-term debt
  • Company is in the process of acquiring acreage to construct up to 210,000 square feet of flowering canopy and supporting manufacturing facility in Cook County, Illinois to exponentially increase capacity in state
  • Initial guidance for 2021 with Systemwide Pro Forma Revenue of $170 -180 million and Adjusted EBITDA of $40 -50 million
  • The Company’s existing projects at maturity represent a long-term revenue and EBITDA opportunity upwards of $650 million and $250 million

4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) (” 4Front ” or the ” Company “) today announced its financial results for the third quarter of 2020. All financial information is presented in U.S. dollars unless otherwise indicated.

Third Quarter 2020 Financial Results Highlights

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  • Q3 Systemwide Pro Forma Revenue increased 18% quarter-over-quarter to $22.3 million , 170% year-over-year – Company became cash flow positive from operations in August
  • Company sale leaseback transaction with Innovative Industrial Properties scheduled to close within two weeks. As a result of close, together with proceeds from the recently closed bought deal financing, the Company will have $16 million of cash and $43 million in long-term debt
  • Company is in the process of acquiring acreage to construct up to 210,000 square feet of flowering canopy and supporting manufacturing facility in Cook County, Illinois to exponentially increase capacity in state
  • Initial guidance for 2021 with Systemwide Pro Forma Revenue of $170 -180 million and Adjusted EBITDA of $40 -50 million
  • The Company’s existing projects at maturity represent a long-term revenue and EBITDA opportunity upwards of $650 million and $250 million

4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) (” 4Front ” or the ” Company “) today announced its financial results for the third quarter of 2020. All financial information is presented in U.S. dollars unless otherwise indicated.

Third Quarter 2020 Financial Results Highlights

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Shareholders with losses exceeding $50,000 are encouraged to contact the firm

The Law Offices of Frank R. Cruz reminds investors of the upcoming December 1, 2020 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased Aurora Cannabis, Inc. (“Aurora” or the “Company”) (NYSE: ACB ) securities between February 13, 2020 and September 4, 2020 , inclusive (the “Class Period”).

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Lobe Sciences Ltd. (CSE: LOBE) (OTC Pink: GTSIF) (“Lobe” or the “Company”) is pleased to announce the launch of preclinical research studies using psilocybin and N-Acetylcysteine (“NAC”) for the treatment of mild traumatic brain injuryconcussion (“mTBI”) with post-traumatic stress disorder (“PTSD”). The study is in collaboration with a multidisciplinary team of scientists and physicians at the University of Miami Miller School of Medicine under the lead of Michael E. Hoffer, M.D., professor of otolaryngology and neurological surgery.

NAC has been shown to be safe and efficacious in a phase I human clinical study in treating military personnel who had suffered mTBI. The initial research focus is to demonstrate the safety and efficacy of the combination of psilocybin and NAC using broadly accepted rodent models. Final results are expected in 2021. Once this is established, more specific work can examine dose response, medicine uptake, and medicine levels. The research team at the Miller School of Medicine has conducted prior studies involving NAC with mTBI and has a license from the United States Drug Enforcement Administration to conduct research using Schedule I controlled substances, which includes psilocybin.

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