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Cannabis Summary for Feb. 19, 2020

2020-02-19 19:14 ET - Market Summary

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by Stockwatch Business Reporter

The S&P/TSX Cannabis Index slipped 0.63 point to 189.31 Wednesday, while the Canadian Securities Exchange Composite Index inched up 0.04 point to 397.27. Tilt Holdings Inc. (TILT) gained four cents to 32 cents on 1.3 million shares after officially making Mark Scatterday its chief executive officer, removing the interim tag from his title. He had been interim CEO since May 10, 2019. The company has also appointed chief operating officer Tim Conder as president. He will be continuing as both president and COO. Both executives -- Mr. Scatterday and Mr. Conder -- were the founders of large companies that Tilt acquired.

Mr. Scatterday was the founder and CEO of Jupiter Research LLC, a vaporization technology company that Tilt acquired for $210-million (U.S.) at the start of 2019. Mr. Conder, meanwhile, co-founded Blackbird Logistics Corp., a distribution company that focuses on the cannabis supply chain. Tilt acquired Blackbird in January, 2019, for $50-million (U.S.).

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