Aleafia Health appoints Mark Sandler as board chair » 07:4707/2907/29/21
Aleafia Health is pleased…
Aleafia Health is pleased to announce the appointment of Mark Sandler as Chairman of its Board of Directors. He is the longest serving member of the Company's board, which is composed entirely of independent directors, and chairs its Governance Committee. Currently senior partner at Cooper, Sandler, Shime, & Bergman LLP, Mr. Sandler is a leading appellate and trial lawyer, as well as an adjudicator and mediator in regulatory matters, including securities litigation. He served three terms as an elected member of the Law Society of Ontario's governing body.
|Over a week ago|
High Tide subsidiary High Tide USA acquires online retailer DankStop for $3.85M » 12:4807/2007/20/21
High Tide announced that…
High Tide announced that it has entered into a definitive agreement pursuant to which High Tide USA Inc., a wholly-owned U.S. subsidiary of the company will acquire 100% of the issued and outstanding shares of DS Distribution, operating as DankStop.com, for $3.85M. "This acquisition is yet another example of how High Tide's U.S. e-commerce infrastructure and network keep getting stronger. Rolling multiple established e-commerce platforms into our network is positioning us nicely to create numerous synergies and efficiencies across our ecosystem. Along with this transaction, our last two acquisitions have increased High Tide's social media reach by leaps and bounds, giving us access to an invaluable potential customer base," said Raj Grover, President and CEO of High Tide. The DankStop acquisition will be immediately accretive, the company said. the Transaction has been unanimously approved by the board of directors of High Tide and DankStop.
High Tide to acquire DankStop for $3.85M, sees accretion » 06:4907/2007/20/21
High Tide announced that…
High Tide announced that it has entered into a definitive agreement pursuant to which High Tide USA, a wholly-owned U.S. subsidiary of the company will acquire 100% of the issued and outstanding shares of DS Distribution, or DankStop, operating as DankStop.com for $3.85M. The DankStop acquisition will be immediately accretive and its growing base of over 200,000 email subscribers provides High Tide with another sales channel on which to sell its products. Although currently operating in the hemp-derived CBD and consumption accessories space, High Tide intends to expand its cannabis retail network into the United States in the event of federal legalization, through cannabis subscription boxes, mature e-commerce sites and bricks and mortar locations. Upon closing of the transaction DankStop co-founder Feliks Khaykin and director Gabe Aronovich will be joining the High Tide team with Feliks taking on the role of Director of U.S. Operations and Gabe coming on as Director of U.S. Business Development. The transaction, which is an arm's length transaction, is subject to, among other things, receipt of required TSX Venture Exchange approval, and other customary conditions of closing, is expected to close in the coming weeks. Pursuant to the terms of the Transaction, High Tide USA, a Nevada corporation and a wholly-owned subsidiary of High Tide, will purchase 100% of the issued and outstanding shares of DankStop. The consideration for the 100% of DankStop acquired will be $3.85M in common shares of High Tide on the basis of a deemed price per High Tide Share equal to the volume weighted average price per High Tide Share on the TSXV for the 10 consecutive trading days preceding closing of the transaction. Upon closing, DankStop will have approximately $100,000 of cash and non-cash working capital and inventory of approximately $220,000. Following the completion of the transaction, DankStop will continue its corporate existence under the state of Delaware as a 100% owned subsidiary of High Tide USA. The transaction has been unanimously approved by the board of directors of High Tide and DankStop. The High Tide Shares issued pursuant to the consideration are subject to a statutory hold period of four months and one day.
Aleafia Health launches cannabis brand Nith & Grand » 07:4007/1907/19/21
Aleafia Health announce…
Aleafia Health announce the launch of its premium cannabis brand Nith & Grand. The initial launch features TF Pink Kush Live Resin vape cartridges, which comprises a hydrocarbon extraction process utilizing fresh-frozen cannabis flower that preserves the strain's natural flavour, aroma and terpene profile. The new product features the sought after and not yet widely available TF Pink Kush strain. "Nith & Grand completes our highly differentiated brand portfolio, allowing us to reach the growing market for premium, craft cannabis products. With a collection of highly sought after cultivars and six years operating our craft cultivation facility in Paris, Ont., we are perfectly situated to delight cannabis connoisseurs," said Aleafia Health CEO Geoffrey Benic.
Organigram price target lowered to C$3.75 from C$4 at Stifel » 11:0707/1507/15/21
Stifel analyst Andrew…
Stifel analyst Andrew Partheniou lowered the firm's price target on Organigram to C$3.75 from C$4 and keeps a Hold rating on the shares.
Organigram price target raised to C$4 from C$3.75 at CIBC » 12:0807/1407/14/21
CIBC analyst John Zamparo…
CIBC analyst John Zamparo raised the firm's price target on Organigram to C$4 from C$3.75 and keeps a Neutral rating on the shares.
Largest borrow rate increases among liquid names » 08:4507/1407/14/21
BSQR, ORPH, STNE, MRIN, WPRT, CHPT, HEXO, ME
Latest data shows the…
Latest data shows the largest indicative borrow rate increases among liquid option names include: Bsquare Corp (BSQR) 42.17% +10.26, Orphazyme AS (ORPH) 70.45% +6.58, StoneCo (STNE) 7.40% +4.20, Marin Software (MRIN) 158.41% +3.96, (GTTN) 92.46% +1.68, Westport (WPRT) 3.89% +1.65, Quantum Si (QSI) 25.07% +1.61, ChargePoint Holdings (CHPT) 3.47% +1.33, Hexo Corp (HEXO) 12.56% +1.14, and 23andMe (ME) 38.97% +0.80.
Medipharm Labs receives Canadian GMP Drug Establishment Licence » 07:2207/1407/14/21
MediPharm announced it…
MediPharm announced it has received a Drug Establishment Licence issued by Health Canada in accordance with the Food and Drugs Act and Regulations. The DEL serves to confirm compliance to Good Manufacturing Practice standards. The DEL is a first of its kind licence for cannabis manufacturing in North America. A Canadian GMP DEL complements MediPharm Labs' existing Australian TGA GMP certification. The licence can be used for the manufacturing, testing and sale of Active Pharmaceutical Ingredients and pharmaceutical drug products containing cannabis. This includes drugs that have marketing authorizations as either novel or generic pharmaceutical drug products containing cannabis. The DEL allows MediPharm Labs to leverage the Mutual Recognition Agreements established between Canada and other global regulatory authorities including the European Economic Area consisting of all EU member states as well as the three countries of the European Free Trade Association, Australia, the UK and Switzerland. In addition, as a member of the International Pharmaceutical Inspection Co-operation Scheme, the Health Canada DEL can be recognized in over 50 different countries including the US and the majority of the EU. With the DEL, MediPharm Labs would be eligible for a US Food and Drug Administration foreign inspection if a US or other global pharmaceutical customer files a registration application for a pharmaceutical drug product containing MediPharm Labs' API. In 2020, 64% of drugs exported from Canadian Drug Establishment Licence holders were exported to the US with FDA approval. MediPharm Labs will use the DEL in conjunction with its Australian facility TGA GMP to optimize the supply chain via MRAs for export of its products to over five countries in 2021.
Hexo provides update on Redecan acquisition » 06:3907/1407/14/21
Hexo has obtained and…
Hexo has obtained and will be shortly filing the recently completed audited consolidated financial statements of Redecan for FY20 and the unaudited interim financial statements for 1Q21 prepared in accordance with Accounting standards for private enterprises. The company previously announced a definitive share purchase agreement to acquire Redecan, Canada's largest privately-owned licensed producer. Key financial highlights include revenue, net of excise duties of $73.6M for F20 and $24.7M in Q1 F21, representing an increase of 146% over Q1 F20; unadjusted EBITDA of $28.9M for FY20 and $12.4M for Q1 F21. Income from operations of $8.3M and net earnings of $6.9M in Q1 F21. Income from operations of $16.7M and net earnings of $11.6M in F20. Gross margins of 51% in F20 and 58% in Q1 F21. Selling, general and administrative costs as a % of sales of 27% in F20 and 23% in Q1 F21. The Redecan acquisition is expected to close in calendar Q3, subject to the satisfaction of customary closing conditions, including the receipt of applicable regulatory approvals and shareholder approval.
High Tide to acquire Regina retail portfolio for C$2.9M » 06:0407/1307/13/21
High Tide is pleased to…
High Tide is pleased to announce that it has entered into a share purchase agreement with the shareholders of 102105699 Saskatchewan Ltd., pursuant to which High Tide will acquire all issued and outstanding shares of the corporation for C$2.9M. As a result of the Transaction, High Tide will acquire a portfolio of six retail cannabis locations in Regina, Saskatchewan, out of which one is operational and five are in various stages of construction and development and are all expected to be operational by the end of 2021.