The first half of 2017 is over and marijuana investors are ready to capitalize on emerging market trends.
We expect to see a lot of developments during the second half of the year and want to highlight three recent developments that cannabis investors should be aware of.
Aurora Cannabis Continues to Execute
Aurora Cannabis (ACB.V) (ACBFF) received a positive response from the market after it was reported that the company will join Canopy Growth (WEED.TO) (TWMJF), Aphria (APH.TO) (APHQF), CanniMed (CMED.TO) (CMMDF), and MedReleaf (LEAF.TO) on the TSX Exchange.
We continue to remain favorable on Aurora Cannabis due its management team which continues to execute and create value for shareholders and its balance sheet which is flush with cash and able to support its growth initiatives.
Golden Leaf Closes Acquisition and Trades Higher
Golden Leaf Holdings Ltd (GLH.CN) (GLDFF) traded higher after the company entered a definitive agreement regarding its previously announced acquisition of Chalice LLC, a vertically integrated Oregon cannabis company. Chalice Farms operates a chain of four branded retail dispensary stores in Oregon and named “Cannabis Store of the Year” at the 2017 Dope Magazine Industry Awards in Oregon.
Chalice is involved with the cultivation, extraction, refinement, marketing and sales of cannabis flower, edibles and oils. Chalice Farms has developed a branded portfolio of cannabis products that have significant market shares and brand equity in Oregon.
The closing of this deal is expected to drive financial and shareholder value. Management said the integration of the two companies allows for increased revenues with reduced costs and will result in significant synergies.
CannaRoyalty Continues to Move Higher
CannaRoyalty Corp. (CRZ.CN) (CNNRF) edged higher after the company said that its newly formed CR Advisory Services division secured its first engagement with one of its investee companies Alternative Medical Enterprises, LLC.