Boy, are we excited with cannabis at Benzinga?
Since our Benzinga Cannabis Capital Conference in Toronto last week, weâ€™ve received such an impressive response and demand for more content, weâ€™ve decided to expand our cannabis newsdesk considerably. Check out our extensive coverage here.
This week, Canopy Growth Corp (NYSE: CGC) continued to dominate headlines, after Moody’s called the Constellation Brands (NYSE: STZ) investment a â€śbig, speculative bet.â€ť
Green Market Report CEO Debra Borchardt reacted: â€śWhile the analyst made some very good and valid points, I think it comes from someone who doesn’t recognize the future of these cannabis-infused drinks.â€ť
In other Canopy Growth news, Borchardt said the marijuana company is spinning off its venture arm Canopy Rivers, with the stock beginning trading Sept. 17
“This means more money to invest in cannabis companies, so this is a good thing,” she said.Â
BorchardtÂ took note of a Friday Bloomberg story that saidÂ alcohol conglomerateÂ Diageo plc (ADR) (NYSE: DEO) is searching for a cannabis partner as well.
Related Link: 6-Time Olympic Gold Medalist Amy Van Dyken Talks CBD For Pain: ‘I Can’t Explain It But The Stuff Really Works’
In the capital markets realm, the United States Marijuana Index, which tracks 18 of the largest marijuana stocks in the U.S., gained roughly 3.8 percent this week, while the North American Marijuana Index, which also includes Canadian stocks, surged about 13.4 percent.
Over the last five trading days, the Horizons Marijuana Life Sciences Index ETF (OTC: HMLSF) (TSE: HMMJ) gained 22.5 percent, while the ETFMG Alternative Harvest ETF (NYSE: MJ) lost 18.7 percent. The SPDR S&P 500 ETF Trust (NYSE: SPY) closed the week up 0.9 percent.
In the past week, marijuana stocks with $100-million-plus market caps trading on U.S. exchanges performed as follows:Â
The 501c3 non-profit Athletes for CARE, orÂ A4C,Â recently completed the pilot of Tastemakers, a new program offered to its athlete members. Led by former NFL player and A4C Ambassador Javiar Collins, the Tastemakers Program provides an opportunity for brands and consumers to engage professional athletes with products that promote health, wellness and quality of life.
â€śThe spirit of the Tastemakers Program is to promote alternative health and wellness options to athletes transitioning in to life after a career in sports,â€ť Collins told Benzinga. â€śItâ€™s evident by the success of our first campaign that thereâ€™s a real demand in the athlete community for healthier options that address the mental, physicalÂ and emotional challenges athletes face both during and after sport.â€ť Learn more about Athletes for CARE and the Tastemakers program atÂ www.AthletesForCARE.org.
Digital media brandÂ CivilizedÂ is teaming with Chelsea HandlerÂ for aÂ cross-Canada speaking tour, where they plan to take the pulse of the nation ahead of an Oct. 17 cannabis legalization date.Â Publisher Derek Riedle describes the talk show-style events as an opportunity to engage with Chelsea on everything from politics and culture to cannabis. TourÂ details and ticketsÂ can be found at Civilized.life/Chelsea.
Interested in what motivated this alliance, Benzinga reached out to Riedle,Â founder and publisher of Civilized, who said: â€śChelsea Handler is a smart, witty speaker whoâ€™s never been shy to talk about cannabis.Â Her honest and humorous approach is helping to remove some of the negative perceptions and stigmas that prevent the canna-curious from trying cannabis the first time, or for the first time â€”Â again.â€ťÂ
Sproutly Canada Inc (OTC: SRUTF) announced this week that it has entered into an exclusive technology license and use agreement with Minnesota State-based Micronutrient Technologies Inc. to utilize its proprietary platformÂ Minerals in Solution Technology in the creation of cannabis- and hemp-based beverages.
MiST produces a 100-percent water-soluble form of multiple minerals â€” including calcium, magnesium, zinc, potassium, sodium and trace minerals such as copper, iron, manganese and strontium â€”Â on the same molecular platform and produces standalone or custom blends of minerals with other micronutrients in water solutions that fortifyÂ a beverage in a single manufacturing step and are said to be shelf stable for at least two years.Â
â€śWe’re excited about being able to go beyond just offering a cannabis beverage andÂ toÂ be able to addÂ fully soluble nutritional mineralsÂ to our products to work along with the positive attributes of cannabis in order to provide an increased healthy blend for our consumers,” said Sproutly Canada CEO Keith Dolo.
Under the license agreement, Sproutly will be granted the exclusive right to utilize the technology and its water-soluble nutritional minerals to produce enhanced water, beverages and soluble nutritional mineral supplements that include a cannabis or hemp component for the recreational and medicinal markets.
MedMen announced it has signed an exclusive license agreement that would grant the company rights to use the Woodstock brand on weed products manufactured and sold in California, Nevada, Massachusetts, Florida, Illinois and Arizona.
Cannabis-focused media and events company Field DayÂ launched a crowdfunding campaign on SeedInvest, seeking to â€śenable cannabis enthusiasts to participate in its early financing.â€ť
Field Day will bring together industry leaders, emerging companies and lifestyle enthusiasts for knowledge sharing and community development, a company representative said.Â
The company will seek to capitalize on combining its cannabis and entertainment experience with IRLâ€™s expertise in producing large scale events.
“Our goal is to bring together industry leaders, emerging entrepreneurs, passionate fans and consumers just beginning to explore cannabis,” said CEO Mike Tolkin. “We have our initial funding round open on SeedInvest because crowdfunding, like Field Day and the cannabis industry, is grassroots and inclusive.Â Think of Field Day as the ComicCon of Cannabis.â€ť
MediPharm Labs said it will takeÂ part in future legal retail cannabis operations in the Canadian province of Manitoba as part of a consortium operating under the retail name Garden Variety. The consortium will open two Winnipeg stores within the year, launching Brandon and Thompson locations in 2019, according to MediPharm. The project is led by Native Roots dispensary.
MediPharm Labs President and CEO Pat McCutcheon saidÂ his company â€śwas built on the premise of being leading experts in pure cannabis concentrate production, which is why MediPharm did not hesitate to join this consortium enabling experts from across the industry to deliver Manitobans the best possible products and services.â€ť
In addition, MediPharm Labs and POCML 4 Inc. shareholders approved a business combination that â€świll result in a reverse takeover of POCML by the shareholders of MediPharm ahead of a planned go-public transaction.”
Healthier Choices Management CorpÂ (OTC: HCMC) announced that it has entered a distribution agreement with MJ Holdings Inc (OTC: MJNE) to exclusively sell and distribute its cannabis and CBD quartz â€śQ-Cupâ€ť technology inÂ Nevada. The Q-Cup is positioned as the cannabis equivalent of theÂ convenientÂ coffee pods to which consumers have becomeÂ accustomed.
The company recently eliminated almost $50 million of warrantÂ liability in exchange for approximately $21 millionÂ inÂ preferred stock, exchangeable for $21 millionÂ in HCMC common stock without any additional warrants or cash payment obligations.
“There exists a niche in the cannabis consumer market for a convenient, more efficient and better-tasting way to vape concentrates on the go,” Healthier Choices CEO Jeffrey Holman told Benzinga.Â
International Cannabrands Inc (OTC: GEATF)-owned JuJu RoyalÂ cannabis-infused olive oils won firstÂ place in the fourth annual Best of Edibles List Awards in two categories.
â€śWe are so grateful to have won this award. Having our efforts recognized byÂ EdiblesÂ ListÂ has been very exciting. International Cannabrands is looking forward to continuing to make innovative strides with ourÂ products that fit seamlessly into our consumersâ€™ lifestyle,â€ť said Steve Gormley, the company’s president and CEO.Â
Wells Fargo & Co (NYSE: WFC) terminated the campaign account of Nikki Fried, a candidate for Florida agriculture commissioner. The move came after the bank askedÂ whether FriedÂ intended to receive donations â€śfrom the medical marijuana industry in any capacity.â€ť
Wells Fargo doubled down on their policy after an uproar, stating it is “seeking to comply with federal law.”Â
MassRoots Inc (OTC: MSRT) Isaac Dietrich told Benzinga that the bank served as his company’s primary financial institution from 2015 until December 2017, when Dietrich said the account was closed along with those of several other cannabis-related businesses.Â
“WellsÂ Fargo’s policy on cannabis-related small businesses is preventing job creation and hampering the medical cannabis legalization movement across the country,â€ť he said.Â
Tahoe Hydro CEO Ray SchiavoneÂ said:Â “The current banking climate currently is and has always been incredibly frustrating. Not only does it minimize workability, but it also creates incredible safety risks due to cash management.Â WellsÂ FargoÂ closed our accounts while receiving a large investment wire and we almost lost that investor and could have potentially gone out of business.”
Related Link: 6-Time Olympic Gold Medalist Amy Van Dyken Talks CBD For Pain: ‘I Can’t Explain It But The Stuff Really Works’
Medical Marijuana Inc (OTC: MJNA) announced that the company and its subsidiaries Kannaway, HempMeds, HempMeds Mexico and HempMeds Brasil booked their largest-ever sales revenue quarter in their history in Q2 2018, as well as reached major milestones in business operations.
â€śIn Q2 we saw significant media coverage and operational successes,â€ť said CEO Dr. Stuart Titus. â€śAs we move into Q3, we will aim to continuously make our mark in the cannabis space with our portfolio of high-quality cannabis products, all while increasing shareholder value.â€ť
Hemp Inc (OTC: HEMP)Â entered into a letter of intent to purchase CBD-Rich Hemp Seeds from Ventura Seed Company. â€śWe are very proud to announce that we will be purchasing hemp seeds from Ventura Seed Company,â€ť said CEO Bruce Perlowin. â€śThis companyâ€™s commitment to expanding access to CBD aligns with Hemp, Inc.â€™s mission and vision as we further our footprint nationwide. As we continue to also launch Village Kins Communities in new states, having a reliable source for CBD-rich hemp seeds is imperative to support the cultivation of high-quality hemp.â€ť
Medical cannabis health care networkÂ Compassionate Certification Centers (CCC) announced it will launch patient evaluation and certification services atÂ The Rehab Centre, a chiropractic group. In addition, the companyâ€™s new THC-free CBD line will also be available at all Rehab Centre locations, CCC officesÂ and online. Made from organically harvested hemp in Kentucky, the company’s CBD line is formulated using broad-spectrum hemp oil.Â
â€śThis partnership is a very exciting opportunity for us as we try to combat the opiate crisis. As doctors we donâ€™t have a lot of avenues for chronic pain, but now we can offer relief in a safe manner with CBD,â€ť said Dr. Ralph Petrarca, founder of The Rehab Centre.
Petrarca estimates 75 percent of his chiropractic and rehabilitation patients are dealing with chronic pain from sports injuries, auto accidents, and work-related injuries sustained from mining or steel manufacturing.
Find out more about this news and more on MedMen, Namaste Technologies Inc (OTC: NXTTF), CannaRoyalty Corp (OTC: CNNRF), Emblem Corp (OTC: EMMBF), Kaya Holdings Inc (OTC: KAYS), Cannabis Strategic Ventures (OTC: NUGS) and 22nd Century Group with our friends atÂ Marijuana Money, who make a weekly video summary of the top financial and business news in the cannabis industry.
Over the week, Benzingaâ€™s Cannabis Newsdesk also reported on:
“Everything You Need To Know From The Cannabis Capital Conference.”
Susquehannaâ€™s view on Constellation Brands.
The view of Mark Lakmaaker,Â vice president of investor relationsÂ at Aurora Cannabis,Â on M&A in the cannabis space.
The challenges in scaling a cannabis business according to execs at Invictus MD Strategies Corp (OTC: IVITF), OrganiGram Holdings Inc (OTC: OGRMF) and Hiku Brands.
What execs at MedMen, Acreage Holdings, 4Front, MediPharm and Cordova Cann had to say about marijuana business models.
Insights on emerging cannabis markets shared by Supreme Cannabis Company President Nav Dhaliwal, Pistil + Sigma CEO Rebecca Gasca and Avicanna CEO Aras Azadian at the Benzinga Cannabis Capital Conference.
New Frontier Dataâ€™s insights on contamination in medical cannabis; how cannabis consumers in CanadaÂ are overwhelmingly turning to weed for relaxation and pain relief; the pricing of GW Pharmaceuticalsâ€™ epilepsy drug; and branded marijuana-derived CBD products.
What The “420 Investor” Alan Brochstein said about supply agreements in Ontario and the continued expansion of the cannabis industry.
“10 Companies That Could Benefit From New York’s Medical Marijuana Market.”
The impact of legalization on pot prices.
How medical marijuana will dominate European market growth.
According to Headset’s newÂ Insights ReportÂ for California’s cannabis industry, there are two brands emerging as the major players across multiple categories:Â Caliva,Â in theÂ flower,Â pre-rollÂ andÂ vapeÂ categories, andÂ Papa & BarkleyÂ in theÂ topicalÂ andÂ tinctureÂ categories.
Of the top 30 brands across these five categories, the two companies hold 21 of the 50 top-10 rankings in the statea, Headsetâ€™s report said.
â€śVery few cannabis companies are seeing tangible success in the wake of newÂ July 1Â regulations. These two companies were well-prepared for the change, had systems in place to distribute their robust product lines statewide and are reaping the benefits in sales and early brand recognition,â€ť the firm said.
Aug. 27-29: Portland, OregonÂ hosts theÂ Third Annual Cannabis Science ConferenceÂ organized by CSC Events. The conference focuses on three tracks this yearÂ dedicated to providing attendees with a variety of innovative content designed by cannabis industry experts: the Analytical Cannabis Track; the Medical Cannabis Track; and the Cultivation Cannabis Track.
â€śEach year there are new and exciting things happening in the cannabis industry and we strive to provide some of the most knowledgeable experts and interesting topics to keep our attendees in the know with this rapidly evolving industry,â€ť said CSC Event’s Joshua Crossney.
Aug.Â 30: Grassposts.com is hosting the second event in its GP Connect Series at The Majestic in Los Angeles. The experience â€świll provide an environment for cannabis brands, distributors and retailers to engage face-to-face to conduct business,â€ť the company said. â€śIn order to attend the event, you must possess a valid state and local license to operate in Californiaâ€™s regulated market. If you are an existing brand or a startup looking to meet a white labeling partner, you may register to attend.â€ť
Sept. 7-9: Oklahoma is getting its first Hempfest ever: the Hempfest Oklahoma.
â€śAfter a year of working with Oklahoma politicians and venues we finally get to announce the worldâ€™s largest hemp festival is coming to Oklahoma,” event organizer and Hi Tunes Distribution CEO Scott McKinley told Benzinga.
“With Dj Snoopadelic [Snoop Dogg] coming for a free show in Oklahoma and the massive four-stage, three-day lineup we are about to announce, we are hoping to bring out the masses and educate on what the hemp industry really is.”
Sept. 14: New York City hosts the â€śGreen Market Summit –Â The Advanced Economic State Of Cannabis,â€ť the first in a planned series of conferences.Â
This event hosted by Green Market Report will be held in partnership with The Street at One World Trade Center.Â The keynote speaker is CNBC and TheStreetâ€™s Jim Cramer, who will interview Acreage Holdings CEO Kevin Murphy. Tickets can beÂ purchased on this website.
Sept. 21-22: Anaheim, California is the site ofÂ CBD Expo West 2018.Â Powered by CBD Health and Wellness Magazine, the CBD-focused event will feature 75 exhibitorsÂ along with a large lineup of presentations and panel discussions from experts in the production, distribution and sale of CBD products. TicketsÂ can be purchased online; check outÂ cbdexpo.netÂ for more detail.
Oct. 11-13: The New West Summit, a conference focused on â€śgame-changing, disruptive developments in technology, science, media and investment within the cannabis space,â€ť will hit Oakland, California. Speakers include Weediquetteâ€™s Krishna Andavolu, Slow Venturesâ€™ Dave Morin, rapperÂ Berner, Steve DeAngelo, Ricardo Baca and many others.Â
Oct. 19-21: The Initiative presents “Hustle Hard: A Cannabis Friendly Retreat For Women Who Mean Business,” a three-day intensive retreat for women in cannabis in Bend, Oregon.
October 30-31: Michigan is hosting its firstÂ Commercial Cannabis Conference & Expo. This inaugural year is special , as it celebrates the state’s first year in a commercial framework and an upcoming voter decision on recreational marijuana. Collectively, the state cannabis community is taking a stand for a healthy and strong cannabis industry in Michigan. Sponsorship, boothsÂ and tickets are available.
Picture byÂ Javier Hasse.
Â© 2018 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.