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by Stockwatch Business Reporter

The TSX Venture Exchange slipped a fraction to 785.68 Tuesday. Among the most active traders today were two shell graduates that are medical cannabis promotions: Denis Arsenault's Organigram Holdings Inc. (OGI: $2.60), of which 6.96 million shares traded, and Cole Cacciavillani and John Cervini's Aphria Inc. (APH: $3.61), of which 3.21 million shares traded. In the past year, Organigram has climbed from 46.5 cents, while Aphria is up from $1.03. One NEX shell, Andrew DeFrancesco's halted Santa Maria Petroleum Inc. (SMQ), is hoping to join this pot party. The shell plans to acquire Kalytera Therapeutics Inc., a cannabinoid drug developer based in Manhattan Beach, Calif. Kalytera is working on drug treatments for bone fractures and bone diseases, such as osteoporosis and osteogenesis imperfecta. It has begun conducting preclinical studies of its drug candidates, in partnership with Tel Aviv University's research commercialization arm, Ramot at Tel Aviv University Ltd. Santa Maria Petroleum and Kalytera have not yet released the terms of their deal, except the target must complete a $6-million offering of subscription receipts at 40 cents before the acquisition can close.

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