This past trading week (September 25-29) saw an update from the cannabis sales in one of the biggest new markets in the US: Nevada. A variety of market news and the week’s biggest gainers complete the Cannabis Weekly Round-Up.
This past week the Investing News Network (INN) reported on Cannabis Wheaton Income’s (TSXV:CBW) partnership with an independent pharmacy across Canada for the distribution of medical cannabis, if the law permits it in the future. “We’re willing to take a bet that pharmacies will be included in the distribution channels for medical cannabis,” Hugo Alves, president of Cannabis Wheaton told INN.
In US news, the Reno-Gazette-Journal wrote that dispensaries in Nevada, sold $27.1 million worth of cannabis in July of this year, alone.
“Nevada made $10.2 million off the fledgling industry during the first month of sales in July, according to the Nevada Department of Taxation,” according to the Reno-Gazette-Journal report.
Aurora Cannabis (TSX:ACB; OTCQX:ACBFF) released its financial results report for the fourth quarter and full financial year, which ended on June 30 for them. The company reported 16,400 active patients registered by the end of this year’s fourth quarter.
“[O]ur balance sheet and capital market strength, along with our global reputation for high quality and rigorous regulatory compliance, allow us to capitalize on opportunities available to very few other companies worldwide,” Aurora’s chief executive officer Terry Booth said.
A report on Cantech Letter indicated GMP Securities analyst Martin Landry saw a “weaker than expected quarter” from Aurora.
“Average selling price per gram came in at $7.45, up 12% QoQ but lower than our $9.77 forecast, which was admittedly too high,” Landry wrote in a note to investors according to the report.
Landy, however, maintained his “Buy” rating for the company and its one year price target for the company’s stock is $3.25.

The Canadian Bioceutical Corporation (CSE:BCC; OTC:CBICF) released their financial results for the first quarter of their fiscal 2018 year. The company got a strong start on Friday’s trading. Their Canadian Securities Exchange stock saw a 10 percent spike at 12:28 p.m. EST.
BCC recorded $5.1 million in sales during this quarter. The company is focused on the US business and provided an update to shareholders on its acquisitions in several states in the market.
“We recorded a solid quarter with double digit sequential revenue growth, driven by strong sales of high-margin concentrates,” Scott Boyes, chief executive officer of BCC said in the company’s announcement. “At the same time, we continued to execute on our aggressive expansion strategy.
Canopy Growth (TSX:WEED) announced it stroke a licensing agreement with Skinvisible Pharmaceuticals (OTCQB:SKVI) for the research and drug development’s patented topical formulations. Excluding China and the US, Canopy will have first dibs at the licensing of Skinvinsible’s Invisicare technology.
“Moving forward, cannabis product diversity will be increasingly important and this agreement prepares us for future product opportunities on that side of our business if and when the regulatory environment evolves,” Mark Zekulin president at Canopy said.
The Niagara Advance reported Tweed Farms, a Canopy subsidiary, is expanding is production “with one million square feet of greenhouses on Concession 5 to be in production by next summer,” in order to be ready for the legalization of recreational cannabis.
“The current expansion includes the purchase of a 458,000 square foot greenhouse next door, previously used to grow flowers, and a 212,000 square foot new build on the original property. Also included is more space for drying rooms and an upgraded laboratory,” the Niagara Advance wrote.

The Canadian marijuana ETF kept seeing growth this past trading week. Over the five-day trading period, the Marijuana Life Sciences Index ETF (TSX:HMMJ) saw a 0.97 percent increase. As of 12:52 p.m. EST on Friday, the ETF traded at $9.41. Since its inception earlier this year, the index has dropped 8.2 percent.
Some of the biggest winners this past trading week included Hydropothecary (CSE:THCX) and Supreme Pharmaceuticals (TSXV:FIRE), which saw 9.43 and 7.3 percent increased gain respectively.
Don’t forget to follow us @INN_LifeScience and @INN_Cannabis for real-time news updates!
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

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

Cannabis Weekly Round-Up: Peru on Path for Legal Medical Cannabis

September 15, 2017 – By Bryan Mc Govern
This past trading week (September 18-22) in the world of cannabis saw the potential inclusion of another South American country into the medical cannabis business, a new report detailing the price that Ontario may be going with for a gram of recreational cannabis, market news and a look at the biggest gaining stocks of the week complete the Cannabis Weekly Round-Up.
It seems another major South American country may be getting closer to entering the legal cannabis business. Peru has introduced a bill that would “allow the production and importation of medical marijuana.”
The medical benefits of cannabis seem to be playing a part in the idea of letting the drug enter the country legally. As reported by Leafly, Congressman Alberto de Belaunde told Peruvian newspaper La Nacion, the benefit of this bill would be for patients with ailments like cancer, epilepsy and Parkinson’s disease, among others.
Hydropothecary (TSXV:THCX) announced this past week it had received a kosher certification from the Ottawa Vaad HaKashrut, a not-for-profit Kashrut certification agency, for a variety of its cannabis products.
“What this certification shows is the value placed on proper etiquette for kosher and for being able to care for people,” Vaad HaKashrut director Rabbi Levy Teitlebaum said of the announcement.
In the development stream from the government of Ontario, related to their plans for the business model it intends to put in place for the legalization of recreational cannabis, CBC reported the province is evaluating a $10 per gram for the drug.
The Canadian Securities Exchanges launched, this past week, a new index called the CSE25 which amounts the largest companies on the exchange, among the top of the list were several cannabis stocks like Liberty Health Sciences (CSE:LHS) CannTrust Holdings (CSE:TRST) Alternate Health (CSE:AHG).
A new report by The Georgia Straight took a closer look at the criticisms from Vancouver Kingsway MP Don Davies in regards to the Liberal government’s cannabis legalization bill. Davies took particular problem with the process the federal government was following and the timing for hearings of the bill.
“From the beginning, I felt that their whole strategy was to minimize exposure and comment and criticism of this bill,” Davies said.

Market News

This past week Aurora Cannabis (TSX:ACB; OTCQX:ACBFF) announced it can now ship cannabis over to Germany, through its subsidiary Pedanios GmbH, thanks to a completion of permitting.
“This is the first step in unlocking future potential markets in the EU of several hundred million people,” said Neil Belot, chief global business development officer for the company.
In other European market news, Canopy Growth (TSX:WEED; OTCMKTS:TWMJF) announced it plans to enter Denmark through a newly formed strategic partnership with Danish Cannabis ApS. This deal for medical cannabis supply will be based on the model established beforehand.
“Our approach is clear: establishing the brands, infrastructure, and people in a systematic manner to ensure success across numerous federally-legal geographies,” chairman and chief executive officer for Canopy Bruce Linton said.
Canopy’s OTC Markets Group stock was closely evaluated this past week by Insider Financial. As part of this report, it was indicated the medical market for the company was still expanding, still without the added possibility of what the recreational market will amount to for Canopy.

The Canadian marijuana ETF kept seeing growth this past trading week. Over the five-day trading period, the Marijuana Life Sciences Index ETF (TSX:HMMJ) saw a 1.31 percent increase. As of 11:38 p.m. EST on Friday, the ETF traded at $9.26. Since its inception earlier this year, the index has dropped 9.66 percent.
Which also this past week added MedReleaf (TSX:LEAF) to the list of weighed companies. Neil Closner, chief executive officer of MedReleaf said the inclusion to the Horizon’s Medical Marijuana Life Sciences ETF will give investors a new method to be active in the company’s growth.
Some of the biggest winners this past trading week included Tetra Bio-Pharma (TSXV:TBP; OTCQB:TBPMF), Cronos Group (TSXV:MJN) and Supreme Pharmaceuticals (TSXV:FIRE), which saw a 14.75, 7.44 and 7.09 percent increased gain respectively.
Don’t forget to follow us @INN_LifeScience and @INN_Cannabis for real-time news updates!
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.