Canopy Growth Corp T.WEED

Top Cannabis Updates

[Kevelle]

Over the last month, many cannabis stocks have seen a consistent decline in their prices on increasing volumes. The Horizons Marijuana ETF has declined by 15.4% in the past 30 days, suggesting a sector-wide correction. During the past two weeks, the Canadian cannabis stocks on our list have posted an average RSI of 14.5, providing investors with a potentially cheaper entry into the industry or a possible swing trade on the rebound.

Aurora Cannabis Inc. (TSX:ACB) announced that it has reached an agreement with Shopify for its global ecommerce operations. Shopify is one of the world’s leading multi-channel, online commerce companies, which helps merchants to create an omni-channel experience, that helps showcase their brands. Aurora Cannabis plans to leverage the Shopify’s platform to distribute and derive demand for its medical and recreational cannabis globally.

Canopy Growth Corporation(TSX:WEED, NYSE:CGC) announced that it has reached an agreement with Hiku Brands Company Ltd. (CSE:HIKU) to acquire the Company in an all-stock transaction. Canopy Growth will pay shareholders of Hiku Brands a 33% premium to Hiku’s 20-day VWAP as of July 9, 2018. This works out to 0.046 Canopy Growth shares for each common share of Hiku, or $1.91/share.


Emerald Health Therapeutics, Inc.(TSXV:EMH) noted that it has been in frequent discussions with all the provincial cannabis distribution agencies across Canada and has had multiple tours of high-level executives of these agencies to allow them to see the magnitude and quality of the company’s production capabilities. Regarding production, Emerald Health has completed and received a cultivation license for one quarter of the 1.1 million sq ft at the Pure Sunfarms JV facility. Additionally, Emerald Health owns Agro-Biotech, a Qubec-based licensed cannabis grower with a 75,000 sq. ft. indoor facility.  Emerald Health is an ACMPR licensed producer that sells dried cannabis and cannabis oil for medical purposes. To serve the upcoming recreational market, the Company is rapidly expanding capacity at its 50%-owned Pure Sunfarms JV.  Emerald Health currently trades at a market cap of $348 million on the TSXV.