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Cannabis Summary for Sept. 4, 2020

2020-09-04 21:23 ET - Market Summary

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by Stockwatch Business Reporter

The S&P/TSX Cannabis Index lost 3.15 points to 124.16 Friday, ending the week down 8.25 points. The Canadian Securities Exchange Composite Index, meanwhile, inched up 0.47 point to 454.36 today, but ended the week down 41.02 points. Yesterday, Payton Nyquvest's psychedelic research and therapy company, Numinus Wellness Inc. (NUMI: $0.235), filed a final short-form prospectus for a $4-million financing. The financing will be led on a best-efforts basis by Mackie Research Capital Corp., the former employer of founder and chief executive officer Payton Nyquvest. (Payton Nyquvest is the son of Universal Ibogaine Inc. chairman Shayne Nyquvest.)

Under the financing, up to 16 million units will be granted to investors at 25 cents per unit. (The company currently has 95.85 million shares outstanding, so the financing will dilute current holders by about 14 per cent.) Numinus is expecting the offering to close by Sept. 10.

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