07:18:09 EDT Sun 27 Sep 2020
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save

Cannabis Summary for Feb. 4, 2020

2020-02-04 20:05 ET - Market Summary

This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

The S&P/TSX Cannabis Index rose 5.96 points to 207.31 Tuesday. The Canadian Securities Exchange Composite Index dropped 0.23 point to 416.09. WeedMD Inc. (WMD) gained a cent to 77 cents on 899,800 shares after Keith Merker "elected to step down" as chief executive officer. Unlike other departing CEOs, Mr. Merker is also vacating a seat on the board that he held. To replace him, WeedMD has appointed Angelo Tsebelis, as CEO. Mr. Tsebelis has been the president of Starseed Medicinal Inc. since 2017, which WeedMD acquired in an all-share deal valued at $78-million on Nov. 29.

As it happens, on Nov. 29 WeedMD also released its third quarter results. WeedMD's stock dropped 24 cents to 93 cents on that day, likely more of a response to the company's results (more on this later) than the Starseed acquisition. The Starseed acquisition bolstered WeedMD's balance sheet, as one of Starseed's main investors, the Labourers' Pension Fund of Central and Eastern Canada (LPF), vowed to make a $25-million investment in WeedMD. That investment was approved today by WeedMD shareholders.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS

© 2020 Canjex Publishing Ltd. All rights reserved.


Reader Comments - Comments are open to paying subscribers of Stockwatch and unmoderated, although libelous remarks, obscene language and impersonations may be deleted. Opinions expressed do not necessarily reflect the views of Stockwatch.
For information regarding Canadian libel law, please view the University of Ottawa's FAQ regarding Defamation and SLAPPs.