The Week In Cannabis: Stocks Down, Moves In Latin America, Financings, And More

This was a bad week for markets in general, and cannabis was no exception.

Over the five trading days of the week:

  • The ETFMG Alternative Harvest ETF (NYSE: MJ): lost more than 6%
  • The AdvisorShares Pure Cannabis ETF (NYSE: YOLO): was down almost 9%
  • The Cannabis ETF (NYSE: THCX): dropped 9%.
  • The Amplify Seymour Cannabis ETF (NYSE: CNBS): lost 7.5%.
  • The SPDR S&P 500 ETF Trust (NYSE: SPY) was down 3.4%.

We also saw the AdvisorShares Pure US Cannabis ETF (NYSE: MSOS) start trading on Wednesday, becoming the first U.S.-listed active ETF focused solely on American cannabis companies, and Item 9 Labs Corp. (OTC: INLB) begin trading on the OTCQX on Monday.

Cannabis SaaS platform Headset secured $3.2 million in financing through a bridge round led by Canopy Rivers Inc. (OTC: CNPOF).

AeroPay teamed up with Safe Harbor Private Banking on a payments service for CBD, cannabis and non-plant touching ancillary service businesses.

Payment processing company Hypur announced a new partnership with leading credit union GFA Federal Credit Union to provide consumers with digital, contactless payments for in-store cannabis orders, including curbside pickup and deliveries in Massachusetts.

Columbia Care Inc. (CSE: CCHW) (OTC: CCHWF) closed its acquisition of The Green Solution. The transaction includes Columbia Care’s 33.2 million shares valued at C$4.35, as well as US$15 million in secured debt, and a US$15 million seller’s note.

Over the last three years, Canada significantly trimmed imports of cannabis.

According to Marijuana Business Daily, the country legally imported around 20 kilograms (44 pounds) of dried cannabis and 200.35 milliliters (6.8 ounces) of cannabis oil.

Innovative Industrial Properties Inc. (NYSE: IIPR) finalized the acquisition of a property in Michigan for $6.2 million, excluding transaction costs.

The Brazilian Chamber of Representatives’ Special Commission in charge of regulating cannabis-based medicines held an online meeting in the form of a public hearing.

The objective of the assembly was to analyze a new bill (PL 399/2015) regarding cannabis-based medicines. This new piece of legislation would allow for the research, processing, production, and commercialization of pharmaceutical drugs and medicinal products containing parts of the Cannabis Sativa plant.

The text also contemplates the cultivation of cannabis by legal entities in specific situations.

It’s been three years since Colombia issued Decree 613, regulating cannabis for medical and scientific use across the country. Now, a group of lawmakers is pushing for the next step: the legalization of adult-use cannabis in Colombian soil.

Biotechnology company Evogene Ltd. (NASDAQ: EVGN) (TASE: EVGN.TA) secured $10 million in financing.

Benzinga Cannabis’ content is now available in Spanish on El Planteo.

MediPharm Labs Inc. inked a supply agreement with Cann Farm Peru S.A.C. Under the agreement, MediPharm opted to provide the Lima-based producer and distributor for Peru and Latin American markets with cannabis oil.

Canopy Growth Corp. (TSX: WEED) (NYSE: CGC), which confirmed around 500 lay offs in March, opted to make additional cuts to …

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