05:53:45 EDT Sun 27 Sep 2020
Enter Symbol
or Name

Login ID:

Cannabis Summary for April 2, 2020

2020-04-02 19:48 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 edged up 2.79 points to 124.29 Thursday, while the Canadian Securities Exchange Composite Index gained 7.84 points to 267.99. For the third straight day, a cannabis company is in danger of declaring bankruptcy. CBD-for-pets producer True Leaf Brands Inc. (MJ) dropped 1.5 cents to two cents on 2.41 million shares after beginning restructuring proceedings. The company is seeking creditor protection under the Bankruptcy and Insolvency Act (BIA).

The two companies that filed for creditor protection on Tuesday and Wednesday -- Canntrust Holdings Inc. (TRST: $0.91) and James E. Wagner Cultivation Corp. (JWCA: $0.025) -- did so under the Companies' Creditors Arrangement Act (CCAA). According to McMillan LLP, the BIA tends to be used for less complicated restructurings, where a proposal can be filed within six months. The CCAA, meanwhile, is often used for more complicated restructurings that take longer to sort out.

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.