Aurora's CBD oil is approved for sale in Ireland, Curaleaf opens its 28th dispensary in Florida, Cresco enters into an equity distribution agreement with Canaccord Genuity Corp, and more!
Canopy Growth Corporation (NYSE:CGC) was in the spotlight again this week, after the company won awards in the areas of corporate culture and marketing excellence.
At the Canadian Marketing Association Awards for Consumer Products, Social Causes and Cannabis Brand Marketing, Tweed, a Canopy Growth's flagship brand, took home three awards, while Waterstone Human Capital—Canada's leading cultural talent management firm—awarded the company a spot in Canada's Most Admired Corporate Cultures for 2019, in the Industry Leaders: Cannabis category.
Waterstone Human Capital's national program recognizes best-in-class Canadian organizations for fostering positive corporate cultures. New for 2019, an Industry Leaders category was introduced to the Canada's Most Admired Corporate Cultures program to recognize an organization within a specific industry that has made an outstanding commitment to corporate culture within its first few years of operation.
At Canopy we have always believed that our corporate culture is a competitive advantage that drives peak performance, and we are thrilled to be recognized nationally in this way Canopy Growth CEO, Mark Zekulin
The company also announced the next phase of its Tweed Collective initiative.
Canopy Growth previously announced its commitment that over 4 years it would devote $20 million towards social purpose initiatives in communities across Canada. Through Tweed Collective, Canopy Growth is giving back while also building awareness, understanding and valued relationships with stakeholders, partners, and customers while being mindful of the Company's role in society and as community members and neighbours.
Canadian non-profits, registered charities and business improvement areas are now being invited to submit their innovative, impactful projects at tweedcollective.com to be considered for support. The application window will be open for 60 days beginning December 2, 2019.
The second round of the NanaBis study was previously given Ethics approval for an Observational Study to assess real world use of the drug on 18 June 2019. The study is intended to provide further clinical evidence of the safety and tolerability of NanaBis as a prescriptive medicine for patients suffering from chronic pain.
If the trial is successful, it will significantly bolster the company's ultimate goal of receiving drug registration for NanaBis. The study is part of the company's ongoing commitment to clinical research as a pathway to drug registration for NanaBis, which also includes a study at The Royal North Shore Hospital in Sydney that is currently close to completion.
Curaleaf Holdings Inc (CSE:CURA) opened its 28th Florida dispensary at 1435 South Tamiami Trail in Sarasota. Curaleaf has the largest cannabis dispensary footprint in the US with 51 dispensaries across the country and continues to execute on its strategy of rapid expansion in Florida.
The 3,900 square foot location will be open 7 days a week – Monday to Saturday from 10am – 7pm and on Sundays from Noon – 5pm – serving patients throughout the Sarasota area, including Siesta Key, Longboat Key, Sarasota Springs and Kensington Park.
Curaleaf will be launching a series of weekly seminars on cannabinoids for local patients, physicians and community members in Sarasota, and team members will be available for free private consultations for new patients needing assistance registering with Florida's Department of Health.
We are proud to deliver upon our commitment to expand our Florida footprint, providing patients with access to Curaleaf's premium medical cannabis products and educational resources, and serving the Sarasota community 7 days a week. Curaleaf Florida President, Pablo Arizmendi-Kalb
MGC Pharmaceuticals Ltd (ASX: MXC) continued its expansion into Europe, after the company announced that it had secured formal approval for the sale of CannEpil in Ireland, following a recommendation from the Health Products Regulatory Authority (HPRA).
Approval for CannEpil was officially granted by the Irish Ministry of Health, making it one of the first cannabinoid-based medicines approved for prescription and sale under the Ireland's Medical Cannabis Access Programme.
CannEpil is one of MGC Pharma's flagship Investigational Medicinal Product's (IMP)—which uses a high CBD, low THC (20:1) formulation—and was developed to treat drug resistant epilepsy.
Harvest Health & Recreation Inc. (CSE: HARV) announced the appointment of Ana Dutra, CEO of Mandala Global Advisors, and Eula Adams, CEO of Neuromonics Corporation, to its board of directors, effective immediately.
Dutra is currently the Founder and CEO of Mandala Global Advisors, a global advisory firm focused on strategies for accelerated business performance. She has served as board director, CEO and advisor for multiple global corporations across industries such as technology, fin-tech, energy, CPG and retail.
Eula Adams also has a highly distinguished CV, currently serving as the CEO of Neuromonics Corporation, as well as formerly being employed as an executive with First Data Corporation. Eula is a former global leader of Sun MicroSystems global storage technology sales and services, and also serves as an advisor to U.S. Congressmen Jason Crowe and Joseph Neguse.
We are pleased to welcome Ana and Eula to the Harvest board after a lengthy process where we evaluated a number of qualified candidates' fit for the demands of the company's board today and into the future. Harvest Health & Recreation CEO, Steve White.
Aurora Cannabis Inc (NYSE:ACB) announced that one of the company's oil products has now been approved for use under Ireland's new Medical Cannabis Access Programme (MCAP).
Aurora's High CBD Oil Drops received approval from the Irish authorities and have now been added to a regulatory schedule by the Irish Minister of Health enabling importation, prescribing and supply under the scheme and is to date, one of only two products to gain such authorization.
The Chief Product Officer at Aurora, Dr Shane Morris, said that, "Aurora is pleased to be able to assist patients who are seeking treatment with high quality EU-GMP (good manufacturing practice) certified pharmaceutical-grade medical cannabis in Ireland."
"We look forward to more of Aurora's high-quality medicines being approved, so that more patients can benefit from the MCAP in Ireland." Chief Product Officer, Dr Shane Morris
The company also announced that Aurora was the highest-ranking cannabis company on the 2019 annual Report on Business (ROB) review of Corporate Boards—also known as the Board Games—scoring of 67 out of 100.
Published in its 18th year, the ROB Board Games considers
dozens of governance criteria, extending beyond those required by formal
regulations. Aurora achieved a score of 67 (out of a total score of 100),
representing a significant increase over the prior year, a substantially higher
ranking than others in its peer group of companies.
"Aurora's improvement in the ROB Board Games was made possible by the swift and responsible actions by the collective Board and with the full support of management," said Aurora Executive Chairman Michael Singer.
Tilray Inc (NASDAQ:TLRY) announced that its global senior leadership team would be expanding with the appointment of Katy Dickson as President, Manitoba Harvest.
Dickson joins Tilray from global toy and entertainment leader Mattel, where she served as Senior Vice President, Global Brand GM and President of American Girl. At American Girl, Dickson led initiatives to further build the premium brand and expand internationally.
Prior to Mattel, Dickson worked for global media and information leader NewsCorp, where she served as EVP and Global Chief Marketing Officer for the company's News America Marketing (NAM) division. Prior to NewsCorp, Dickson spent close to 25 years with General Mills, where she held numerous senior marketing and brand management roles, including Vice President, GM of the Old El Paso and Betty Crocker Dinners businesses.
We're pleased to welcome Katy to our senior leadership team to build on the success of the Manitoba Harvest brand globally. Tilray CEO, Brendan Kennedy
Cresco Labs Inc (CSE:CL) announced that it has entered into an equity distribution agreement with Canaccord Genuity Corp, pursuant to which the company may, from time to time, sell up to C$55 million of subordinate voting shares in the capital of the Company.
The company intends to use the net proceeds of the ATM Program, if any, principally for general corporate purposes (including funding ongoing operations and/or working capital requirements), to repay indebtedness outstanding from time to time, discretionary capital programs and potential future acquisitions.
Since the Subordinate Voting Shares will be distributed at trading prices prevailing at the time of the sale, prices may vary between purchasers and during the period of distribution. The volume and timing of sales, if any, will be determined at the sole discretion of the company's management and in accordance with the terms of the Equity Distribution Agreement.
Watch this space for future updates.
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