With the second quarter of 2018 officially wrapped up and as cannabis investors prepare up for the challenges the second half of 2018 has in store for them, the Investing News Network (INN) counts the top performing stocks of Q2.

As explained in INN’s Q2 2018 cannabis update, the industry has continued a path of maturity in the public markets and de-risking thanks to the entrance of large Canadian banks.


During the quarter the industry started to recover from a dip seen throughout the market due to a market correction.

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“We had a significant dip down from January to April, I would say, and then again we are starting to move back up as we get closer to legalization,” Yasmin Gordon, senior investment advisor with Canaccord Genuity told INN.

Here’s a look at the top gainers per Canadian exchange during Q2. For a look into the top performing stocks in Q1 2018, click here to read our first quarter stock list.

All the figures and percent changes were obtained with Google Finance and Yahoo Finance for Q2. Stock prices and market caps are current as of market closure on Friday (July 13).

CSE

iAnthus Capital Holdings (CSE:IAN)

Q2 percentage increase: 107.84 percent; market cap: $317.55 million; stock price C$6.57

iAnthus is a cannabis operator focussed in the US market. The company has assets and interests in legal states like Florida, Massachusetts, New York and Colorado.

During the second quarter of 2018, iAnthus reported its Q1 results which resulted in US$3.2 million of revenue for the company’s operations.

Choom Holdings (CSE:CHOO)

Q2 percentage increase: 40.66 percent; market cap: $159.506 million; stock price C$1.38

Choom is a cannabis company looking to offer a branding-heavy effort in the cannabis space. The company is a retail operator as it looks to open, where the provinces may allow it, cannabis dispensaries offering legal adult-use product.

During the last quarter the company announced it had secured 10 new retail locations for cannabis shops in Alberta and B.C.

CannaRoyalty (CSE:CRZ)

Q2 percentage increase: 27.18 percent; market cap: $250.76 million; stock price C$4.86

CannaRoyalty is another US focused operator raising capital in Canada through the Canadian Securities Exchanges (CSE). CannaRoyalty’s main operations are in California, a state in which it had announced revenue of US$840,000 during the month of April.

The company has continued to pursue businesses and operations in the legal states it operates in to add to its portfolio of cannabis products. During Q2 the company announced its investee company, Anandia Labs, would be getting acquired by Aurora Cannabis (TSX:ACB)

TSXV

WeedMD (TSXV:WMD)

Q2 percentage increase: 44.93 percent; market cap: $159.87 million; stock price C$1.59

WeedMD has been a medically focused LP of cannabis, but as Canada moves closer to the legalization of recreational cannabis, the company has detailed more of its approach into that market.

During the second quarter the company signed a deal to merge with Hiku Brands (CSE:HIKU) and complement each other’s approach to the cannabis space. The merger proposal was terminated after Canopy Growth (TSX:WEED; NYSE:CGC) offered to acquire Hiku outright in July. WeedMD obtained a C$10 million termination fee.

In June the company signed a supplier agreement with Shoppers Drug Mart for medical cannabis to be sold by the retailer. The company also signed onto a joint venture with Phivida Holdings (CSE:VIDA) to develop infused beverages with cannabis.

Organigram Holdings (TSXV:OGI)

Q2 percentage increase: 35.88 percent; market cap: $620.59 million; stock price C$4.82

Organigram is a medical cannabis producer seeking to expand its business as legalization comes to Canada. The company unveiled its branding efforts of the recreational space during this past quarter.

Organigram also has an interest for the international market as it has started expanding into Australia and Germany. During the quarter the company obtained a permit for the export of medical cannabis into Australia.

ICC Labs (TSXV:ICC)

Q2 percentage increase: 10 percent; market cap: $183.12 million; stock price C$1.42

ICC Labs is a company raising capital in Canada while its operations are in South America. The company holds interests in Uruguay and expanded its presence in Colombia throughout the second quarter of 2018.

The company is also seeking to export medical cannabis into Germany thanks to an initial deal with CanPharma GmbH, a licensed importer and wholesaler in the European country.

TSX

MedReleaf (TSX:LEAF)

Q2 percentage increase: 59.42 percent; market cap: $2.87 billion; stock price C$29.56

MedReleaf is a cannabis licensed producer with a focus into the medical market. This year the company unveiled its recreational brands meant to target the adult-use consumers of cannabis.

MedReleaf stunned the public market after it was first rumored the company was seeking a potential buyer. Finally in May the company confirmed an agreement with Aurora Cannabis, in which Aurora would buy the producer and its shares.

Canopy Growth (TSX:WEED)

Q2 percentage increase: 20.02 percent; market cap: $7.89 billion; stock price C$37.77

Canopy remained on its path of dominance throughout the public markets with a constant flow of deals and collaborations within the industry in Q2.

During the second quarter of 2018, the company became the first cannabis company to list its stock on the New York Stock Exchange under the ticker symbol “CGC.” Since it started trading on the NYSE, Canopy’s share price has increased 11.16 percent to reach a price of US$29.59.

Hydropothecary (TSX:HEXO)

Q2 percentage increase: 37.31 percent; market cap: $843.99 million; stock price C$4.66

Hydropothecary is one of the latest cannabis LPs to join the Toronto Stock Exchange (TSX), having upgraded to the premier stock exchange from the TSX Venture Exchange in June.

The company also revealed its intentions to introduce a recreational brand named HEXO while Hydropothecary will remain active for its medical cannabis market brand.

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.

Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Aurora Cannibas, Inc. (“Aurora” or the “Company”) (NYSE:ACB) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Aurora securities between February 13, 2020, and September 4, 2020, inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.comacb

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.

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Hill Street Beverage Company Inc. (TSXV: BEER) (“Hill Street” or the “Company”) reported its first quarter results for period ended Sept 30, 2020. A complete set of financial statements and Management’s Discussion & Analysis has been filed at www.sedar.com. All dollar figures are quoted in Canadian dollars.

FY21 First Quarter Financial Highlights

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Signed LOI for CAD$23 million sale to Ionic provides shareholder value

Lobe Sciences Ltd. (CSE: LOBE) (OTC Pink: GTSIF) (“Lobe” or the “Company”) is pleased to announce that it has received and signed a non-binding letter of intent dated November 30, 2020 with IONIC Brands Corp. (“Ionic”) for the proposed sale to Ionic of certain assets held by Lobe related to Cowlitz County Cannabis Cultivation Inc. (“Cowlitz”) (the “Transaction”). Cowlitz is one of the top five licensed cannabis producersprocessors located in Washington State.

The assets being sold to Ionic may include, but are not limited to, the assignment of all property leases relating exclusively to Cowlitz’s business, the assignment of Lobe’s option agreement to acquire all of the outstanding shares of Cowlitz, and the assignment of other contracts and rights related exclusively to Cowlitz including service contracts and equipment leases (the “Assets“).

The Transaction is subject to several closing conditions, including but not limited to: (i) satisfactory due diligence by both Ionic and Lobe; (ii) completion of a definitive agreement with binding terms and conditions for the Transaction, including finalization of the specific Assets that will be sold and certain Cowlitz assets that may be retained by Lobe; (iii) all respective directors and officers of Lobe and Ionic entering into support agreements for the Transaction; (iv) approval by the boards of directors of both Lobe and Ionic; (v) the completion of a share consolidation by Ionic on a minimum of one new Ionic common share for every four and a half (4.5) old Ionic common shares (the “Ionic Consolidation“); (vi) the conversion of all Ionic debentures (with principal amount of approximately CAD$14.7 million) into a secured equity or a similar instrument (“Debt Conversion“); (vii) completion of a concurrent financing by Ionic for gross proceeds of at least US$2 million (the “Ionic Concurrent Financing“); (viii) Ionic having all cease trade orders issued against it lifted(2); (ix) Ionic applying to the CSE for requalification and qualifying for listing and resumption of trading(2); and (x) the receipt of all required shareholder and regulatory approvals, including the approval of the CSE. Following the closing of the Transaction, Ionic’s board of directors is expected to be comprised of five (5) members and Lobe will have the right to appoint two (2) directors to the Ionic board.

The sale price for the Assets shall be a minimum of CAD$23 million, payable through the issuance of Ionic post-consolidation common shares (being approximately 49% of Ionic’s estimated $47 million capitalization post-restructuring (after giving effect to the Ionic Consolidation and Debt Conversion)), prior to giving effect to the Ionic Concurrent Financing. Following the closing of the Transaction, it is expected that the Lobe will own approximately 49% of Ionic’s common shares, on a post-consolidation and pre-Ionic Concurrent Financing basis. Ionic is expected to have a minimum total capitalization valuation of CAD$47 million, pre-Ionic Concurrent Financing.

As previously announced, Lobe has been pursuing strategic alternatives for Cowlitz, aimed at maximizing its value to the Company. Cowlitz reported over US$14.6 million in gross sales revenues for the nine month period ended September 30, 2020, according to data provided on reports to the Washington State Department of Revenues(1). Lobe generates revenues through licensing and leasing agreements in place with Cowlitz.

Ionic is listed on the Canadian Securities Exchange(2) (the “CSE“) (CSE: IONC) and is a growing US-based cannabis company that focuses on premium cannabis products with current operations in Washington and Oregon. Ionic has completed a number of strategic synergistic acquisitions since 2019 aimed at growing revenues as a multi-state operator, and increasing their overall product lines and intellectual property portfolio. Ionic’s strategy has been focused on building a regionalized multistate operation of cannabis brands in the Pacific Northwest markets with an eye to expansion into other recreational markets and aggressive national expansion.

John Gorst, CEO of Ionic said, “We are excited about this opportunity to expand our presence in Washington State. Cowlitz has tremendous brand presence and following in Washington State, which we feel is a natural fit, complementing our existing operations. The combination will make us one of the largest premier cannabis companies in the Pacific Northwest markets. The acquisition of the Cowlitz Assets will represent a complimentary synergistic acquisition that achieves our goal of operational expansion and growth of our product portfolio.”

“The proposed transaction with Ionic is accretive to both parties, successfully meets our M&A initiatives and keeps Lobe active in the cannabis and overall transformation psychedelic medicine space,” states Tom Baird, CEO of Lobe. “The Transaction provides Lobe with significant ownership and board presence in Ionic. With its already significant operations in Washington State and Oregon, we feel Ionic’s proposed product expansion initiatives together with the addition of the Cowlitz Assets can lead to aggressive growth.”

About Ionic Brands Corp.

Ionic is dedicated to building a regionally based multi-state consumer-focused cannabis concentrate brand portfolio with strong roots in the premium and luxury segments of vape concentrates and edibles. The cornerstone brand of the portfolio, IONIC, is the #3 vaporizer brand in Washington State and has aggressively expanded throughout the Pacific Northwest of the United States. The brand is currently operating in Washington and Oregon. Ionic’s strategy is to be the leader of the highest-value segments of the cannabis market.

About Lobe Sciences Ltd.

Lobe is a growth-oriented research, technology & services company that provides financial, management, IP and branding support to businesses. The Company operates a portfolio of companies focused on developing transformational medicines and applies refined strategies to help partner companies reach their full potential. Based in Vancouver, BC, Lobe Sciences creates value through acquisitions and development of assets, products and technologies by leveraging its scientific, engineering, branding and operational expertise supported by strong capital markets acumen.

For further information please contact:

Lobe Sciences Ltd.
Thomas Baird, CEO
info@lobesciences.com
Tel: (949) 505-5623

THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.

Disclaimer for Forward Looking Statements

This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact included in this release, including statements regarding the future plans and objectives of the Company, the Company’s expectations surrounding its development of treatments and/or therapeutics for mTBI and PTSD, the proposed Transaction and terms with Ionic and estimated capitalization of Ionic and share value to Lobe, Ionic having its cease trader orders lifted and resumption for trading on the CSE, future sales and expected revenues of Cowlitz and enhancing its value to the Company, are forward looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations are risks detailed from time to time in the filings made by the Company with securities regulations. Readers are cautioned that assumptions used in the preparation of the forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including changes to the regulatory environment; and that the current Board and management may not be able to attain the Company’s corporate goals and objectives. As a result, the Company cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made only as of the date of this news release and the Company does not intend to update any of the included forward-looking statements except as expressly required by applicable Canadian securities laws.

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 Next Green Wave Holdings Inc. (CSE: NGW) (OTCQX: NXGWF) (“Next Green Wave“, “NGW” or the “Company”) is pleased to announce the following operational and financial milestones:

– In November 2020, the Company’s Adjusted EBITDA* was approximately US$1,000,000. This after already recording approximately US$1,000,000 in October 2020.

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Wonder debuts in Illinois with low-dose Wonder Minis hard sweets for category newcomers to consume and control their experience with confidence

Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or “the Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced today the launch of Wonder Wellness Co. (“Wonder”), the newest brand to join its expanding portfolio of national cannabis brands. Wonder addresses the direct needs of the large segment of consumers who are accepting of cannabis but have yet to enter the category. Created to take the guesswork out of cannabis, the portfolio offers low-dose, approachable forms that are simple to use with packaging that is easy to understand, so newcomers can explore the plant and control their experience with confidence. The brand debuts in Illinois with Wonder Minis, a line of 3 mg hard sweets focused on effects-driven benefits.

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