Canadian Cannabis Market Overview
A new cyber threat has reared it’s ugly head yet again. A virus that does not need human interaction to migrate through a network. They are calling this ransomware Petya and has affected systems globally.
Canopy Growth released their 2017 fiscal results and it shows a healthy increase in revenue and it appears that they are well situated to profit from the upcoming recreational legalization on July 1, 2018. The announcement was met with a 5.5% drop in price.
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What’s Happening…
Abcann Global Corporation (ABCN) $0.90 (-$0.03 or 3.2%)
No news posted
Aphria (APH) $5.36 (-$0.08 or 1.4%)
No news posted
Aurora Cannabis (ACB) $2.15 (-$0.02 or 0.9%)
No news posted
CanniMed (CMED) $8.00 (+$0.00 or 0%)
No news posted
Cannabis Wheaton Income (CBW) $0.97 (-$0.01 or 1%)
No news posted
Canopy Growth Corp (WEED) $7.99 (-$0.47 or 5.5%)
Fiscal 2017 Highlights Announced
Revenue of $39.9 million; an increase of 214% over fiscal year 2016 revenues of $12.7 million
Sold 5,139 kilograms and kilogram equivalents; a 203% increase over fiscal year 2016
Harvested 10,837 kilograms compared to 6,029 kilograms in fiscal year 2016, representing an 80% increase
Adjusted Product Contribution1 in the fiscal year 2017 was $25.2 million or 63% of revenue. In the comparative period last year, the Adjusted Product Contribution was $8.1 million or 64% of revenue
Adjusted EBITDA2 amounted to a loss of $17.0 million compared to an Adjusted EBITDA loss of $14.1 million in fiscal year 2016
Acquired Mettrum; adding multiple ACMPR licenses, the sector's second largest patient base and the Spectrum colour based cannabis strain categorization system
Initiated international expansion with investments in Australia, Brazil and Germany; Company subsidiaries exported medicinal cannabis to Germany and Brazil
$101.8 million in cash and cash equivalents at year end
Cronos Group (MJN) $1.78 (+$0.05 or 2.8%)
No news posted
Emerald Health Botanicals (EMH) $1.19 (+$0.01 or 0.8%)
No news posted
Hempco Food & Fiber Inc. (HEMP) $0.375 (+$0.025 or 7.1%)
No news posted
Hydropothecary (THCX) $1.45 (-$0.13 or 8.2%)
Hydropothecary Announces $25 Million Bought Deal Private Placement of Convertible Debenture Units
Maple Leaf Green World (MGW) $0.335 (-$0.015 or 4.2%)
No news posted
MedReleaf Corp. (LEAF) $8.20 (-$0.43 or 4.9%)
MedReleaf announced that it will hold a conference call to discuss its fourth quarter and fiscal year 2017 results on Wednesday, June 28, 2017 at 8:00 a.m. (ET).
Newstrike (HIP) $0.32 (-$0.02 or 5.8%)
No news posted
OrganiGram (OGI) $2.20 (-$0.04 or 1.7%)
No news posted
Radient Technologies Inc. (RTI) $0.51 (+$0.01 or 2%)
No news posted
Supreme Pharmaceuticals (FIRE) $1.27 (-$0.02 or 1.5%)
No news posted
Resources:
Raphael Satter, The Associated Press (Cyber attack)
Globe Newswire (ABCN)
Canada Newswire (WEED)
Canada Newswire (THCX)
Canada Newswire (LEAF)
THIS IS NOT FINANCIAL ADVICE
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