The beginning of 2018 has been brimming with developments in the cannabis industry. In this weeks roundup, we will cover news on several developments including a new supply agreement between WeedMD and Jarlette Health Services, updates on Auroras hostile takeover bid, Hydropothecary’s expansion plans and more.
01/07/2018 – 01/13/2018
CanniMed’s shareholder rights plan has been voided by the OSC and Aurora has been ordered to disclose more information
The Ontario Securities Commission has had to meddle in Aurora’s hostile takeover bid. The OSC has prohibited CanniMed to use “Poison Pill” defense as well as ordered Aurora to present further information. More specifically, Aurora has been ordered to release any and all information they may have received from any individuals in a “special relationship” with CanniMed or any information that influenced their timing on the takeover bid. The OSC has also told Aurora to disclose how they came to the knowledge that CanniMed would be holding a meeting on November 13th, 2017. Aurora stated that it would provide this information on or by January 12th and so they did.
WeedMD will now be the main medical cannabis supplier for Jarlette Health Services
WeedMD announced that it has secured a supply agreement with Jarlette Health Service and will now be the main supplier of medical cannabis to the long-term care and retirement home provider with 2000 beds based in Ontario. WeedMD thinks of Seniors as an extremely vital part of the market since the senior demographic is growing four times as fast as the rest of the population.
PUF Ventures has announced that the export ban has been annulled
The Australian government has high hopes that Australia will be the top medicinal marijuana producer on a global scale and consequently has decided to drop the export ban on medicinal cannabis starting in February 2018. This is fantastic news for PUF Ventures Australia since they will now be able to export cannabis products globally.
Hydropothecary shares rise after news of new expansion
With plans to construct a 93’000 square meter greenhouse, Hydropothecary will grow massively producing 108’000 kgs of cannabis per year. After the announcement of the aforementioned expansion Hydropothecary shares surged by 18%. The new greenhouse will be located next door to it’s current Quebec facility. This is a huge step up for Hydropothecary. The expansion will position Hydropothecary among the biggest cannabis producers in the Canadian Cannabis industry by tremendously increasing their production capacity. This expansion will also create up to 300 jobs total.
Harvest One is blasting with new announcements
Harvest One and its subsidiary United Greeneries have revealed that they will begin retail sales next month. They have 325 kgs of cannabis in stock. United greeneries will also sponsor and exhibit the Lift Conference Vancouver. Harvest One has also received their commencing Satipharm Microgel Gelpell capsules import license. On top of all that, United Greeneries will have a brand new medical cannabis online retail platform starting February 2018.