The Green Market Report’s Marijuana Money: September 11, 2020

Marijuana Money Minute

It was a shortened trading week as markets were closed on Monday for the Labor Day holiday.

Aurora Cannabis Inc.  (NYSE: ACB) gave an update on its business this week in which the company said it would take a $1.8 billion charge as it released unaudited preliminary fiscal fourth-quarter 2020 results. Revenues also fell sequentially. Aurora reported that its 2020 fourth-quarter net revenue was expected to be in the range of $70 million and $72 million, versus $75.5 million in the third quarter As an aside, the company also named a new CEO Miguel Martin.

Emerald Health agreed to sell ts interest in Pure Sunfarms to Village Farms International for $79 million. This was a joint venture that was established between the company and Village Farms in 2017 and emeral health still owned a 41% interest. 

Columbia Care Inc.  (OTCQX: CCHWF) is buying California-based Project Cannabis for approximately $57 million in Columbia Care stock and approximately $12 million in cash from the proceeds of a concurrent sale of Project Cannabis’ real estate assets. The deal is expected to close in the fourth quarter of 2020.

Havn Life Sciences was granted a Section 56 exemption by Health Canada, meaning it now has the ability to possess certain amounts of pure psilocybin for scientific purposes, specifically for the research and development of quality control methods. Earlier this week, Havn began trading on the Canadian Securities Exchange using the ticker symbol “HAVN”.

And finally The queen of lifestyle branding Martha Stewart has launched a new line of CBD products with cannabis company Canopy Growth Corporation (NYSE:CGC.) The hemp-derived wellness supplements are inspired by some of Martha’s most popular recipes featuring Meyer lemons and blood oranges. The initial product offering will include a range of human wellness supplements, with a gift box and pet line launching later this year.

 

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