The company behind Marlboro cigarettes told the market this week that it has a particular interest in the cannabis industry. 

Meanwhile, a Canadian cannabis company confirmed an entry point for the US market via a stock uplisting on the NASDAQ.


Keep reading to find out more cannabis highlights from the past five days.

 

Cannabis - Will The Fortune 500 Join The Party?

 
Our Exclusive FREE Report Contains Information You NEED To Know About Cannabis Stock Investing!
 

Tobacco maker confirms interest in cannabis business

The cannabis industry received a new form of validation this past week after the multibillion dollar tobacco maker behind Marlboro cigarettes, Philip Morris International (NYSE:PM), signaled it is intrigued by the potential of entering the cannabis space.

Despite the admission of interest, the tobacco company stopped short of announcing any plans or potential strategy when it comes to a market entry.

“We are doing all this work and will determine one day what avenues to pursue,” Philip Morris CEO Andre Calantzopoulos told Bloomberg News. “But our priority is what we’re doing with our smoke-free products, and that’s where I would stay on cannabis.”

The cannabis space has seen support come in various forms from big-name tobacco and alcohol makers as vice industries set their eyes on a market that was worth US$21 billion globally in 2020.

Fellow tobacco company Altria Group (NYSE:MO) holds an investment in Canadian cannabis producer Cronos Group (NASDAQ:CRON,TSX:CRON), while British American Tobacco (BAT) (NYSE:BTI,LSE:BATS) recently secured a product partnership with Organigram Holdings (NASDAQ:OGI,TSX:OGI).

Valens gives investors critical update

The Valens Company (TSX:VLNS,OTCQX:VLNCF) treated its investors to a week of serious announcements. First off, the novel cannabis product manufacturer confirmed an entry into the US cannabidiol (CBD) market by way of an acquisition.

CEO Tyler Robson said his firm examined over 100 US companies before making this decision. The overall transaction will be worth US$40 million, alongside US$20 million reserved for milestones reached.

Green Roads, the target of Valens’s acquisition, is a hemp-derived CBD producer based in Florida. It has products available across the US, including oils, edibles, soft gels, capsules, topicals and even coffee.

Valens said this deal will boost its product availability in the US and global markets alike. Targeting US revenues has become a need for cannabis companies as the entire country awaits for potential federal regulation changes that will improve the conditions of the current marketplace.

 

Cannabis - Will The Fortune 500 Join The Party?

 
Our Exclusive FREE Report Contains Information You NEED To Know About Cannabis Stock Investing!
 

Additionally, Valens told investors it has submitted an application to list its common shares on the NASDAQ, a significant move for any cannabis company.

“We believe that listing in the US will unlock various opportunities to enhance corporate visibility, increase liquidity and broaden overall awareness of The Valens Company to a larger investor base while driving value for our shareholders,” Valens President Jeff Fallows said.

Cannabis company news

  • PharmaCielo (TSXV:PCLO,OTCQX:PCLOF) confirmed two initial shipments of medical cannabis extracts to two Brazilian customers. Pharmacielo CEO Henning von Koss said this type of arrangement represents a vote of confidence in the sourcing of reliable, high-quality extracts and formulation expertise, which PharmaCielo intends to serve.
  • Fire & Flower Holdings (TSX:FAF,OTCQX:FFLWF) issued its financial report for the fourth fiscal quarter of 2020 alongside the entire year-end period. For the entire fiscal year, the firm reported a net loss represented to investors at C$0.45 per basic share. However, the firm also highlighted a 150 percent increase in revenue for the year and discussed its future US expansion plans.
  • The Green Organic Dutchman Holdings (TSX:TGOD,OTCQX:TGODF) took the time to update investors on a variety of topics, including bids coming in for its Valleyfield facility as a way to monetize its assets. Additionally, the firm said it is looking to form partnerships or acquisitions in the US in the way of eventual reform.
  • Ascend Wellness Holdings released the details of its upcoming US$80 million public offering, which will close on May 4, the same day the firm expects to launch on the Canadian Securities Exchange. The company is a vertically integrated operator of US cannabis assets in Illinois, Michigan, Ohio, Massachusetts and New Jersey.

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.

 

Cannabis - Will The Fortune 500 Join The Party?

 
Our Exclusive FREE Report Contains Information You NEED To Know About Cannabis Stock Investing!
 

Juan Monteverde founder and managing partner at Monteverde & Associates PC a national securities firm rated Top 50 in the 2018-2020 ISS Securities Class Action Services Report and headquartered at the Empire State Building in New York City is investigating Harvest Health & Recreation, Inc. (“HRVSF” or the “Company”) ( HRVSF ) relating to its proposed acquisition by Trulieve Cannabis Corp. Under the terms of the agreement, HRVSF shareholders will receive 0.1170 shares of Truelieve per share they own.

The investigation focuses on whether Harvest Health & Recreation, Inc. and its Board of Directors violated securities laws and/or breached their fiduciary duties to the Company by 1) failing to conduct a fair process, and 2) whether the transaction is properly valued.

Keep reading... Show less

Aurora Cannabis Inc. (the “Company” or “Aurora”) (NYSE: ACB) (TSX: ACB), the Canadian company defining the future of cannabinoids worldwide, today announced that the Company will be participating at the BMO Capital Markets 16 th Annual Farm to Market Virtual Conference. Chief Executive Officer, Miguel Martin and Chief Financial Officer, Glen Ibbott will be conducting virtual one-on-one meetings with investors throughout the day on Wednesday, May 19 and Thursday, May 20, 2021 .

Keep reading... Show less

Matica Enterprises Inc. (CSE: MMJ) (FSE: 39N) (OTCQB: MMJFF) (“Matica” or the “Company”) and Matica subsidiary, West Island Culture Inc. (“West Island”) are pleased to introduce our newest cannabis brand to the market CITOYENTM . CITOYENTMis a more accessible brand of quality cannabis to come out of Montreal’s West Island, The People’s Flower.

All CITOYENTM flower products are craft grown, quality cannabis offerings at lower entry prices and with greater volumes in comparison to our premium OuestTM products. There are currently two product families in the CITOYENTMbrand. CITOYENTMGold Star products are high THC craft products. The CITOYENTM Red Star craft products have a mid to high THC range. Both sets of products still offer the strong bag appeal found with the QuestTM brand stemming from our focus on rich terpene profiles and attractive visual attributes. The CITOYENTM brand strives to provide a greater number consumers with a taste of what a high quality bud in the legal market should be.

Keep reading... Show less

Two US-based multi-state operators (MSOs) added fuel to the ongoing merger and acquisition (M&A) train currently making its way across the cannabis sector.

On the flip side, one of Canada’s biggest cannabis producers told the market this week that it has no interest in further acquisitions in the Canadian market.

Keep reading... Show less

 Better Plant Sciences Inc. (CSE: PLNT) (OTCQB: VEGGF) (FSE: YG3) (“Better Plant”) or (the “Company”), a wellness company that makes and sells plant-based products, is ramping up production at its Victoria, BC production facility to fulfill incoming orders from seven Whole Foods Market in Ontario, Canada (“Whole Foods”).

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/6377/84022_947985ee845d7afb_001.jpg

Keep reading... Show less