In this week's "Rising High," The Fly's recurring series focused on cannabis and psychedelic stock news, The Fly looks back on a licensing agreement, a loyalty program and a brand partnership.
ENTOURAGE ENTERS LICENSING DEAL WITH IRWIN: Entourage Health (ETRGF) announced Thursday entered into an exclusive licensing, manufacturing and distribution agreement with Irwin Naturals. The new line of CBD and THC products to be produced under the agreement, curated by Entourage alongside Irwin's wholly owned subsidiary Irwin Naturals Cannabis, are expected to launch first on Entourage's Starseed Medicinal channel in Q4 with eventual expansion into retail markets across Canada. Under the terms of the agreement, Entourage will manufacture the newly formulated suite of Irwin-branded line of softgels in five different varieties: CBD, THC and three additional formulations that include both THC and another cannabinoid. In light of recent recommendations issued by Health Canada's Science Advisory Committee on Health Products Containing Cannabis, the Irwin-branded CBD products could eventually launch over-the-counter in pharmacies across Canada.
COLUMBIA CARE LAUNCHES STASH CASH: Columbia Care (CCHWF) announced Tuesday that its national cannabis shopping and loyalty mobile app, Stash Cash, is now available on the Apple Store in 14 of its markets, and across its retail brands, including Cannabist, Columbia Care, The Green Solution and Project Cannabis. The company said, “Stash Cash is an easy-to-use platform for patients and customers to build loyalty rewards, order remotely and discover new products through its integration with Forage, where available.”
CANNARA PARTNERS WITH EXOTIC GENETIX: Cannara Biotech (LOVFF) announced on Wednesday an exclusive brand partnership with US-based cannabis breeder, cultivator and hash maker, Exotic Genetix, This agreement will bring one of the most influential cannabis breeders and his brands from the US to Canada. Under the terms of the agreement, Cannara will be granted an exclusive license to use, market, sell and distribute Exotic Genetix branded products throughout Canada. In addition, Exotic Genetix will provide Cannara with ongoing consultation services with respect to providing knowledge and insights into cannabis genetics, plant growing methodologies and marketing services.
FLORA GROWTH ANNOUNCES CANNABIS JV: Flora Growth (FLGC) announced Tuesday a joint venture agreement with Pharma Indigena Misak Manasr Sas, "the largest indigenous tribe in Colombia, on the development of cultivation best practices, manufacturing, export, and marketing of cannabis and cannabis containing products," said Flora. Under the agreement, Flora will provide Manasr regulatory advice, technical and business support related to product development and distribution, promotion of products to be marketed under the Flora brand portfolio, and cannabis derivatives when needed to complete product production. Additionally, Manasr will work closely with Flora in developing cannabis pharmaceuticals & products and help advance the approvals and authorizations required for exports of cannabis from Colombia.
Additionally, Cantor Fitzgerald analyst Pablo Zuanic initiated coverage of Flora Growth on Monday with a Neutral rating and 85c price target. From cultivation and extraction facilities in Colombia, Flora has been diversifying into consumer goods, seeking to forward integrate, and develop distribution partnerships overseas, Zuanic said. However, relative to comparable stocks, the company is in the initial stages regarding production and distribution of cannabis, says the analyst. In the "depressed valuation landscape of cannabis stocks," Zuanic is more comfortable with the risk/reward of other international growth stories in the space.
CLEVER LEAVES INITIATED WITH OVERWEIGHT: Cantor Fitzgerald analyst Pablo Zuanic initiated coverage of Clever Leaves (CLVR) with an Overweight rating and $4.50 price target on Monday. The stock offers better relative "pure-play" exposure to growth in overseas medical cannabis markets and eventually to recreational legalization in those markets, Zuanic said. He projects that Clever Leaves, a large-scale low-cost producer of pharmaceutical grade cannabis with cultivation in Colombia and Portugal, could be among the world's top five cannabinoid exporters by the end of calendar year 2023, the analyst noted.
CANNABIS/PSYCHEDELIC STOCKS: Publicly-traded companies in the space include Acreage (ACRHF), Akerna (KERN), Aleafia (ALEAF), Atai Life Sciences (ATAI), Awakn Life Sciences (AWKNF), Aurora Cannabis (ACB), Audacious (AUSAF), Ayr Wellness (AYRWF), BC Craft (CRFTF), Body and Mind (BMMJ), Canopy Growth (CGC), RIV Capital (CNPOF), Chicago Atlantic (REFI), Compass Pathways (CMPS), CordovaCann (LVRLF), Cresco Labs (CRLBF), Cronos (CRON), Curaleaf (CURLF), CV Sciences (CVSI), CURE Pharmaceutical (CURR), Delic Holdings (DELCF), Delta 9 (DLTNF), Fire & Flower (FFLWF), General Cannabis (CANN), Goodness Growth (GDNSF), Greenlane (GNLN), Green Thumb (GTBIF), GrowGeneration (GRWG), Harborside (HBORF), Hemp (HEMP), HEXO (HEXO), High Tide (HITI), IM Cannabis (IMCC), India Globalization Capital (IGC), Indiva (NDVAF), Innovative Industrial Properties (IIPR), InterCure (INCR), Wellbeing Digital (KONEF), Khiron Life Sciences (KHRNF), Lowell Farms (LOWLF), Lotus Ventures (LTTSF), MediPharm (MEDIF), MedMen (MMNFF), Neptune Wellness (NEPT), NewLake Capital (NLCP), Thermic Science (ENDO), Organigram (OGI), Planet 13 (PLNHF), RIV Capital (CNPOF), Relmada (RLMD), RYAH Group (RYAHF), Sproutly (SRUTF), Stem Holdings (STMH), Small Pharma (DMTTF), Skye Biosciences (SKYE), Sundial Growers (SNDL), Sunniva (SNNVF), TerrAscend (TRSSF), Tetra Bio-Pharma (TBPMF), Tilray (TLRY), Trulieve (TCNNF), Tryp Therapeutics (TRYPF), Valens (VLNS), Verano Holdings (VRNOF), Village Farms (VFF), Wesana Health (WSNAF), Zynerba (ZYNE) and 4Front Ventures (FFNTF).