During the past trading week (July 15 to 18), a leading cannabis company in the US announced a blockbuster acquisition plan.

The continued fallout of a non-compliance accusation against a Canadian producer made headlines, and results from a survey on investor and analyst sentiment in the marijuana space also caught attention.


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

CannTrust saga continues to drag for investors

Shareholders of troubled Canadian cannabis producer CannTrust Holdings (NYSE:CTST,TSX:TRST) experienced another tumultuous week of trading following the revelation of the company’s non-compliant facility in Pelham, Ontario.

On Thursday (July 18), BNN Bloomberg reported that CannTrust sources with knowledge have indicated that potential parties are interested in acquiring the assets of CannTrust.

“Such a move could help keep the beleaguered company operating and stave off the worst-case scenario of losing its sales or processing licences as a result of unlicensed production at one of its facilities.”

Shares of the Canadian producer grew in value by nearly 7 percent in New York following the report, and closed on Thursday at a price of US$2.93.

MSO targets US$875 million acquisition

On Wednesday (July 17), multi-state operator (MSO) Curaleaf Holdings (CSE:CURA,OTCQX:CURLF) announced the US$875 million purchase of a private cannabis company, GR Companies, with retail and cultivation assets in the US.

The combined company will manage 131 dispensary licenses, 68 physical locations, 20 cultivation sites and 26 processing facilities.

“In every important state, (Curaleaf has) assets now that are operational and generating revenues … whereas in some instances, other competitors have license holdings in certain states, but don’t don’t have anything operational,” said Robert Fagan, an analyst with GMP Securities covering the MSO.

Shares of Curaleaf jumped by double digits in value on Wednesday following the acquisition announcement.

Market updates

As part of its quarterly survey on investment market sentiment, Horizons ETFs Management (Canada) revealed that both investors and analysts have turned on cannabis stocks.

“It may still be too early to say that the Marijuana sector’s post-legalization afterglow has come to an end, but it’s becoming apparent that it has lost some of its ‘shine,’ particularly among hard-won advisors,” said Steve Hawkins, president and CEO of Horizons ETFs.

According to the survey, bullish sentiment for cannabis stocks fell to 58 percent of investor respondents and to 36 percent for advisors of the space, compared to a respective 70 and 40 percent previously.

With an initial public offering (IPO) worth US$575 million, Subversive Capital Acquisition (SCAC) (NEO:SVC.UN.U) made its trading debut on the NEO Exchange in Canada. The company was the fifth SPAC to list on the NEO.

According to exchange regulators, the debut from SCAC represents the biggest IPO for a SPAC. The company will target acquisitions in the cannabis industry, but will not be limited to this sector.

“We’re looking at what is the largest, regardless of industry or sector … SPAC that’s ever been listed in Canada, and I think that is a token about the interest and appetite in this industry and the opportunity it represents,” Jos Schmitt, CEO of the Canadian exchange, told the Investing News Network.

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.

NYSE | TSX: ACB

Aurora Cannabis Inc. (“Aurora” or the “Company”) (NYSE: ACB) (TSX: ACB), the Canadian company defining the future of cannabinoids worldwide, today has announced today that it has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets and ATB Capital Markets, under which the underwriters have agreed to buy on bought deal basis 12,000,000 units of the Company (the “Units”), at a price of US$10.45 per Unit for gross proceeds of approximately US$125 million (the “Offering”). Each Unit will be comprised of one common share of the Company (a “Common Share”) and one half of one common share purchase warrant of the Company (each full common share purchase warrant, a “Warrant”). Each Warrant will be exercisable to acquire one common share of the Company (a “Warrant Share”) for a period of 36 months following the closing date of the Offering at an exercise price of US$12.60 per Warrant Share, subject to adjustment in certain events.

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Trading resumes in:

Company: Revive Therapeutics Ltd.

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/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES /

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 that it has entered into an amended agreement with Canaccord Genuity Corp. and Leede Jones Gable Inc. as the co-lead underwriters (collectively, the ” Underwriters “), to increase the size of its previously announced offering of units (the ” Equity Units “) at a price of $0.50 per Equity Unit. Under the amended terms, the Underwriters have agreed to purchase, on a bought deal basis, 40,000,000 Equity Units for gross proceeds to the Company of $20,000,000 (the ” Offering “). The over-allotment option granted to the Underwriters will proportionately increase to 15% of the Offering.

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The new dispensary brings expanded access for patients in the growing communities of Central Florida

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 77th nationwide. The new, 5,100 sq. ft. location marks the Company’s first in Summerfield expanding patient access to Florida’s largest and broadest assortment of high-quality medical cannabis products.

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BioHarvest Sciences Inc. (CSE: BHSC) (“BioHarvest” or the “Company”).

The Company announced today that its board of directors have approved a private placement of up to 15,000,000 units at a price of $.40 per unit for gross proceeds of up to $6,000,000. Each unit will consist of one common share of the Company and one share purchase warrant. Each share purchase warrant will be exercisable to purchase an additional common share at a fixed price of $.45 per share for a period of one year from closing.

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