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Cannabis Summary for Jan. 28, 2020

2020-01-28 19:57 ET - Market Summary

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by Stockwatch Business Reporter

The S&P/TSX Cannabis Index gained 11.42 points to 213.16 Tuesday, while the Canadian Securities Exchange Composite Index gained 1.67 points to 415.15. Yoram Drucker and Ron Mayron's Israel-based Innocan Pharma Corp. (INNO) remained unchanged at 10.5 cents on 64,000 shares after signing an agreement for the distribution of its CBD cosmetic products to the United Kingdom and Ireland. The distributor will be Active Therapeutics Ltd. Innocan's previously stated goal is to start selling the products by the first half of 2020, but it did not estimate when its CBD products would be available in the U.K.

Beauty products are one of the many areas where CBD products are appearing. Producers of CBD beauty products often claim that CBD can treat dry skin, psoriasis and eczema. Most of the other areas where CBD has taken off are aimed at making the consumer feel better, whether through sleep improvement, pain reduction or anxiety relief.

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