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Welcome to 2021. After all this week has been loopy for our nation as home terrorists incited by President Trump stormed the state capital. It’s actually laborious to remain centered however democracy prevailed and President-elect Biden’s win was formally licensed. He will likely be inaugurated on January 20 and there will likely be a transition of energy. Votes matter.
It was a reasonably quiet week as cannabis firms are slowly waking after the vacations.
This week the battle heated up between Sundial Growers Inc. (Nasdaq: SNDL) and Zenabis Investments Ltd. (OTC: ZBSIF) as it seems that Sundial is seeking to seize Zenabis by changing into its creditor. Sundial’s subsidiary owns $51.9 million of the debt of Zenabis Investments. Zenabis made a principal fee of $7.0 million on December 31, 2020 in accordance with the phrases of the Senior Mortgage. Regardless of that fee, a discover of default was delivered to Zenabis, and is arguing that it isn’t in default. Whereas Zenabis is preventing desperately to maintain Sundial from taking on the corporate, it says it has began talks with one other important licensed cannabis producer however gained’t say who it’s.
The 12 months began with a few new shares.
HempFusion Wellness Inc. accomplished its (IPO) of seven million shares at a worth of $1.00 per share for gross proceeds of $7 million and 10,000,000 items of the corporate for gross proceeds of $10 million for a complete of $17 million. The corporate will start buying and selling on the Toronto Inventory Change with the image CBD.U.
Canadian-based Eden Empire Inc. (CSE: EDEN) started buying and selling widespread shares on the open of the Canadian Securities Change on Monday, January 4, 2021 utilizing the ticker image “EDEN”. The corporate stated it plans to develop its enterprise to cannabis cultivation, extraction, and processing and turn out to be a totally built-in cannabis product firm in numerous states all through the US. Eden Empire stated it’s going to function retail cannabis shops in Canada and america.
NeonMind Biosciences Inc. (CSE: NEON) widespread shares started buying and selling on the Canadian Securities Change below the ticker image “NEON”. NeonMind is a psychedelic drug improvement firm and the corporate not too long ago accomplished its oversubscribed Preliminary Public Providing on December 30, 2020, for gross proceeds of $4.6 million.
Columbia Care Inc. (OTCQX: CCHWF) is shopping for California-based dispensary The Therapeutic Heart San Diego (THCSD) for roughly $15.0 million. The deal consists of $3.0 million in money, $6.0 million in Columbia Care inventory, and $6.0 million in vendor promissory notes.
And at last Harborside Inc.’s (OTCQX: HBORF) Co-founder Steve DeAngelo is parting methods with the corporate as the corporate stated it’s eliminating the function of Chairman Emeritus, efficient December 31, 2020. A longtime activist and powerful advocate for the cannabis reform motion, Mr. DeAngelo co-founded Harborside in 2006 as a non-profit medical cannabis dispensary. Harborside was granted one of many first six medical cannabis licenses in america and was one of many first within the nation to help complete cannabis training for seniors, veterans, and households with severely ailing youngsters.
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