Last week, the newly public Curaleaf Holdings (NASDAQOTH:CURLF) announced that, between Dec. 12, 2018, and Dec. 12, 2019, it plans to commence share repurchases totaling as much as $50 million (those are U.S. dollars), albeit the timing and amount of shares to be repurchased will depend on market conditions and other variables. In terms of nominal value, $50 million in repurchases at today's market cap would reduce Curaleaf's share count by about 2%.
Premier Health Group Inc., (OTC: PHGRF) (CSE: PHGI) has engaged discussions with Licensed Producers under the Access to Cannabis for Medical Purposes Regulation (ACMPR), other licensed medical cannabis companies and government officials in order to establish a framework for both patient and physician education. The company’s CEO said it perfectly:
Altria Group Inc., one of the world's biggest tobacco companies, is diving into the cannabis market with a $2.4 billion buy-in.
The Marlboro cigarette maker is taking a 45% stake in Cronos Group Inc., the Canadian medical and recreational marijuana provider said Friday.
Altria will pay an additional $1.4 billion for warrants that, if exercised, would give Altria a 55% ownership stake in the Toronto company.
The marijuana producer Aphria slumped as much as 30% — to a low of $5.60 a share — after a firm alleged the company’s business was full of overvalued buyouts and fraudulent financial reporting.
“Aphria is part of a scheme orchestrated by a network of insiders to divert funds away from shareholders into their own pockets,” Quintessential Capital Management’s Hindenburg Research said Monday in a report titled “Aphria: a shell game with a cannabis business on the side.” Aphria did not immediately respond to a request for comment.
Marlboro cigarette maker Altria is in early stage talks to acquire Canadian cannabis producer Cronos, as it seeks to diversify its business beyond traditional smokers, people familiar with the matter told CNBC.
Cronos has not agreed to any deal and there is no certainty it will do so, the people said.
On Monday, Nov. 26, two panels in New Jersey voted overwhelmingly to approve three new cannabis bills -- one of which aims to legalize adult-use marijuana.
A handful of companies are poised to benefit from New Jersey's limited amount of approved licenses. One of those is Acreage Holdings (ACRG.U). Back in May, Acreage signed a letter of intent to enter into a long-term management contract to assist with the expansion and operations of Compassionate Care Foundation, Inc. (CCF) , a not-for-profit entity that operates a dispensary and cultivation facility in Egg Harbor, New Jersey.
Both Aurora Cannabis (NYSE:ACB) and Hexo Corp. (NASDAQOTH:HYYDF), formerly known as Hydropothecary, have given investors a roller-coaster ride so far in 2018. Hexo shareholders have probably enjoyed the ride more. The marijuana stock is up close to 45% after doubling earlier in the year, while Aurora Cannabis is down more than 15% year to date.
Gallup has been conducting surveys on the public's opinion toward marijuana since the 1960s. The pollster has found that 60% of respondents now want to see cannabis legalized nationally and this is as recent as 2016. In comparison, roughly 25% approved of legalizing marijuananationwide back in 1995.
The U.S.-listed stocks of Canadian producers Canopy Growth (ticker: CGC),Aurora Cannabis (ACB), and Tilray (TLRY) are sinking. Since Monday, when Aurora reported a 333% sales jump from its year-ago quarter, its New York Stock Exchange–listed stock has slipped 18%, to US$6.16.