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An Emerging Markets News Commentary
ORLANDO, Fla., June 12, 2019 (GLOBE NEWSWIRE) -- Cannabis based pubcos Aurora Cannabis Inc. (ACB), Aphria Inc. (APHA), Canopy Growth Corporation (CGC), Orion Nutraceuticals Inc. (ORONF), have posted significant news recently, coinciding with recent reporting that retail marijuana sales have grown so substantially that the industry has now passed gaming goliath Fortnite while closing in on luminary brands Taco Bell and the NFL.
Orion Nutraceuticals Inc. (ORONF) is looking to participate in the trend more significantly, having signed a Letter of Intent to acquire an additional 26% of BioHemp Colombia for a total of 51%. BHC and Orion will jointly develop projects related to research, cultivation, extraction, sale and distribution of seed genetics for CBD-rich hemp and cannabis. Under the agreement, BHC will provide seed bank samples for 23 feminized hemp varieties, and 16 feminized tetrahydro cannabinoid (THC) varieties, to initiate research and development. Further, BHC will provide experts and a cultivation plan for each type of seed as well as supervision and labour for the cultivation of plants.
Aurora Cannabis Inc. (ACB) cemented its status as one of the industry’s true bell-cows, posting solid Q3 revenue growth averaging 20% across all key markets, driven by successful scale up of the Company's production and continued strong performance across the Canadian consumer, and Canadian and International medical cannabis markets.
Canopy Growth Corporation (CGC) will expand its retail footprint through acquisitions, having finalized an all-cash transaction to acquire This Works for a purchase price of £43 million (CDN $73.8 million). Founded in 2004, This Works has cemented itself as a global leader in natural skincare and sleep solutions with a devout customer base spanning 35 countries.
Aphria Inc. (APHA) continues the expansion trend, announcing that its Australian-based partner Althea Company Pty Ltd. was granted a Manufacture Licence by the Australian Government's Office of Drug Control. This provides Althea with authorization to manufacture extracts and tinctures of cannabis and cannabis resin in accordance with relevant manufacture permits.
About Orion Nutraceuticals Inc.
Orion Nutraceuticals Inc. aims to set a new standard in cannabis life science by producing and developing innovative products with key strategic partners in the industry. In conjunction with its professional sports strategic alliances, the company is poised to advance research and developmentin the plant science sector, deliver science-based products and services, and market CBD therapies to the mainstream with proprietary brands and products. Orion shares trade in Canada on the CSE under the symbol ORI.
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