During the past trading week (September 9 to 13), a Canadian producer missed on its previous earnings guidance, leading to a significant drop off in its shares.

Comments from a former US federal regulator made headlines, while new developments in the hotly competitive cannabis-infused beverage market caught attention.


Here’s a closer look at some of the biggest news during last week’s trading period.

Aurora misses the mark for earnings report, stock takes a hit

On Wednesday (September 11), Aurora Cannabis (NYSE:ACB,TSX:ACB) issued its its fiscal Q4 and fiscal 2019 financial report for investors to get a better picture of the development of the company.

While the company posted a net revenue of C$98.9 million for its most recent quarter, Aurora had originally projected its net revenues between C$100 million and C$107 million.

The miss led to a sharp slash in value for shares of the Canadian marijuana producer. Over the past week of trading, the value for Aurora in New York dropped over 5 percent per share, as of 12:30 p.m. EDT on Friday (September 13).

Additionally, as part of its earnings call, the company expressed a bullish sentiment for its entry into the US market, which it is doing by way of the production of hemp-derived cannabidiol (CBD) products.

Ex-FDA leader speaks on need for marijuana regulation

Scott Gottlieb, former head of the Food and Drug Administration (FDA), wrote about his call to action for federal regulators regarding marijuana laws.

The former FDA leader wrote an opinion piece in the Washington Post, outlining the conflict between the need for regulation on e-cigarette use accompanied by the sales of cannabis compound cartridges. In his piece Gottlieb wrote:

Bright lines must be drawn between less-harmful ingredients and those that cause undue risk. That would arm regulators with the information to crack down on illegal and dangerous vape juices. It’s also time to end the political ambivalence that allows THC and CBD to evade oversight.

Gottlieb wrote the threat of e-cigarette use for minors has been compounded since these products are used for consuming THC and CBD.

Cannabis-infused beverages race sees new entries

This past week, The Alkaline Water Company (NASDAQ:WTER,TSXV:WTER) and Valens GroWorks (TSXV:VGW,OTCQX:VGWCF) made significant strides in the development of new beverages designed to be sold in Canada.

The Canadian market will see the legalization of edibles and infused products on October 17. Sales, however, will not officially start until mid-December.

Richard Wright, CEO of Alkaline, told the Investing News Network (INN) the company plans to offer a line of products designed for the health and wellness market in the US. The line of beverages will be hemp-derived CBD-infused beverage shots for energy, workout recovery, relaxation and sleep.

“We pick niches where we think that the rest of the world is going to be promoting,” Wright said. These new products will be created by way of a merger with AQUAhydrate, a California-based premium bottled water firm, in an all-stock transaction.

Meanwhile, Valens formed a new agreement with the cannabis division of Canadian beverage maker Iconic Brewing to develop, market and sell at least 2.5 million produced cannabis beverages over the next five years.

“Coupled with Valens’ proprietary emulsion solution, SōRSE Technology, we are excited to deliver on our promise of developing one of the world’s most sought-after cannabis infused beverage lines,” Cole Miller, cannabis research director at Iconic Brewing, said in a statement.

The two Canadian firms offered a mockup for two drink products, a THC sparkling water and a CBD iced tea.

Market updates

Pure Sunfarms, the cannabis producing joint venture of Village Farms International (NASDAQ:VFF,TSX:VFF), obtained a license amendment allowing it to start selling branded dried cannabis directly to provincial distributors and private retailers.

Pure Sunfarms holds supply deals with the Ontario Cannabis Store and the British Columbia Liquor Distribution Branch.

“And we look forward to Pure Sunfarms quickly expanding distribution into additional provinces as it moves toward doubling its production capacity to a minimum of 150,000 kilograms annually next year,” Michael DeGiglio, CEO of Village Farms International, said in a statement.

Canopy Rivers (TSX:RIV,OTC Pink:CNPOF) officially joined the Toronto Stock Exchange (TSX) this past week, becoming one of the latest cannabis firms to reach the senior Canadian exchange.

“We believe that graduating to the TSX will improve awareness about Canopy Rivers and enhance liquidity for our shareholders and other market participants,” Narbe Alexandrian, president and CEO of Canopy Rivers, said in a statement.

Don’t forget to follow us @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.

Editorial Disclosure: Valens GroWorks is a client of the Investing News Network. This article is not paid-for content.

Trulieve to donate $20,000 in scholarship funding and $15,000 to support leadership development

Trulieve Cannabis Corp . (CSE: TRUL) (OTC: TCNNF), a leading and top-performing cannabis company in the United States today announced a new partnership with the Thurgood Marshall College Fund (TMCF), the nation’s largest organization exclusively representing the Black College Community. Trulieve will donate $20,000 to help fund several college scholarships awarded to students who are attending one of the organization’s member-schools as part of Trulieve’s diversity, equity, and inclusion initiatives. The $15,000 in talent funding is earmarked to support TMCF’s internship program, reaching a diverse talent pool of students and alumni from their 47 member-schools to provide immersive experiences at Trulieve.

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The new dispensary expands patient access to Florida’s largest inventory of medical cannabis products

Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “the Company”), a leading and top-performing cannabis company based in the United States announced today the opening of a brand-new Florida dispensary, the Company’s 80th nationwide. The new location marks the Company’s first in Tamarac and third in Broward County expanding patient access to Florida’s largest and broadest assortment of high-quality medical cannabis products.

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Revive Therapeutics Ltd. (“Revive” or the “Company”) (CSE: RVV, USA: RVVTF), a specialty life sciences company focused on the research and development of therapeutics for medical needs and rare disorders, is pleased to announce an update on the Company’s U.S. Food & Drug Administration (“FDA”) Phase 3 clinical trial (the “Study”) to evaluate the safety and efficacy of Bucillamine in patients with mild to moderate COVID-19.

With its recent $23 million dollar financing, the Company plans to aggressively expand from 14 clinical sites to up to 50 clinical sites to meet the next enrollment goals for the Study in Q2-2020. The Study is a randomized, double-blinded, placebo-controlled trial and the safety and efficacy data analyzed at each interim analysis timepoint of 210, 400, 600 and 800 completed patients are only made available to the Independent Data and Safety Monitoring Board (“DSMB”) for review and recommendations on continuation, stopping or changes to the conduct of the Study. In the event of any serious safety concerns, the DSMB would be notified to determine any risks and provide its recommendations. To date, in this initial 210 interim point there have been no serious safety concerns that required the DSMB to be notified.

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HempFusion Wellness Inc. (TSX:CBD.U) (OTCQX:CBDHF) (FWB:8OO) (“HempFusion” or the “Company”), a leading health and wellness CBD company utilizing the power of whole-food hemp nutrition, is pleased to announce that its common shares have been approved for DTC full-service eligibility in the United States by the Depository Trust Company (“DTC”) and can now be both traded and serviced through DTC’s electronic book-entry system.

DTC is a subsidiary of the Depository Trust & Clearing Corp. (“DTCC”) that provides clearing and settlement services for the financial markets and settles the majority of securities transactions in the United States. This electronic method of clearing securities speeds up the receipt of stock and cash and thus accelerates the settlement process for investors and brokers, enabling the stock to be traded over a much wider selection of brokerage firms.

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CFN Enterprises Inc. (OTCQB: CNFN) (CFN Media) partners with FMW Media Works LLC to produce a regular series on the global cannabis markets to air on major financial news networks across the US. Initial segment features leading cannabis analyst and US Multi-State Operator (MSO)

CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the leading media network dedicated to the global legal cannabis, CBD and psychedelics industries, today announced that its inaugural news segment on the cannabis markets, “Cannabis Market Outlook for 2021,” will air on Bloomberg, Newsmax and Fox Business.

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