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Fly News Breaks for July 17, 2019
ACRGF, CGC
Jul 17, 2019 | 06:48 EDT
Ladenburg Thalmann analyst Glenn Mattson started Acreage Holdings (ACRGF) with a Buy rating and $18 price target. Within the cannabis space, the analyst favors Canadian companies who are focused on long-term value creation and gaining market share as well as those with a well-defined plan for potentially entering the U.S. market. He initiated coverage on the cannabis space with a "bullish long-term outlook." Acreage has a "solid position" in the most attractive areas of the U.S., Mattson tells investors in a research note. Further, the company trades at a "significant discount" to the implied conversion from the proposed Canopy Growth (CGC) transaction, which will execute upon federal legalization of cannabis in the U.S., the analyst ads.
News For ACRGF;CGC From the Last 2 Days
CGC
Aug 20, 2019 | 07:02 EDT
Canopy Growth is pleased to announce that it has received a licence from Health Canada for its KeyLeaf Life Sciences facility in Saskatoon, Saskatchewan. Including the Smiths Falls site and the recently licensed BC Tweed extraction site, Canopy Growth now operates three significant extraction assets to support the throughput required for large scale value-add product development. Canopy Growth recently retrofitted the now fully licensed KeyLeaf facility in Saskatchewan, a company with over 50 years of experience in the extraction industry. This facility is expected to be online in the Fall of 2019 and has the capacity to extract up to 5,000 kilograms of hemp or cannabis biomass per day. The application for the licence was submitted under KeyLeaf's previous name, POS Management Corp. and will be updated in due course. The newly-licensed extraction platform is located in close proximity to Canopy Growth's large-scale outdoor hemp and cannabis grow operations. The company looks forward to the additional capacity increasing production efficiency, augmenting output volume, and ultimately reducing operational costs for value-add products set to be rolled out in the Canadian recreational and medical markets at the end of calendar year 2019.