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MARKETS LIVE BLOG:

STOCKS SLIDE AFTER META'S REALITY CHECK, DOWNBEAT GDP

Caterpillar sinks 7% after earnings, management sees weakness in Europe, Asia-Pacific

Cannabis Stock News Daily Roundup May 1

ME Staff

Panaxia Pharmaceutical Industries Israel and pharmaceutical company Rafa signed a collaboration agreement with PlantEXT Ltd., an Israeli-Canadian medical cannabis company. Under the agreement, the parties will co-develop the next generation of medical cannabis products intended for patients suffering from Inflammatory Bowel Disease, and who are authorized to receive treatment with medical cannabis.

Khiron Life Sciences (TSXV: KHRN) (OTCQB: KHRNF) (Frankfurt: A2JMZC) reported its financial results for the year ended December 31, 2018. The company achieved first sales during the fourth quarter of fiscal 2018, with sales totaling C$891,677. Operating costs were consistent with management expectations and totaled to C$20.09 million.

Curaleaf Holdings (CSE: CURA) (OTCQX: CURLF) has signed a definitive agreement to acquire the state-regulated cannabis business of Cura Partners, owners of the Select brand, in an all-stock transaction valued at C$1.27 billion or US$948.8 million.

Dixie Brands (CSE: DIXI.U) (OTC: DXBRF) (Frankfurt: 0QV) has announced its financial results for the year ended December 31, 2018. Revenue was $5.79 million in fiscal 2018, an increase of 73% from around $3.34 million of revenue in 2017. Revenue was $1.59 million in the fourth quarter of 2018, compared to $709,677 a year earlier, an increase of 123%. Net loss attributable to the company was $21.24 million in 2018, compared to $4.34 million the previous year.

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The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (US: TGODF) announced the opening of its second legal cannabis retail store in Jamaica – in conjunction with Epican Medicinals. Located on Montego Bay’s “Hip Strip”, the flagship location will open for business on May 4. Montego Bay is a popular tourist destination and Jamaica’s second largest city. It is also a major port of call for cruise ships, a destination for duty-free shopping and home to the country’s largest airport.

Planet 13 Holdings (CSE: PLTH) (OTCQB: PLNHF) announced financial results for the three and 12-month periods ended December 31, 2018. Revenues were $8.3 million for the fourth quarter of 2018, versus $3.4 million for the quarter ended December 31, 2017, an increase of 145%. Quarterly net loss was $4.0 million, versus a profit of $259,493 for the same quarter of 2017.

Flower One Holdings (CSE: FONE) (OTCQB: FLOOF) reported its financial and operating results for the fourth quarter and year ended December 31, 2018. Revenue for the fourth quarter and the fiscal year was $130,969 and the company recorded a loss of $5.28 million. For the fiscal year, Flower One recorded a loss of $12.45 million. The company was incorporated on December 18, 2017, and as such, no comparable information is available for the fourth quarter and full-year periods ended December 31, 2017.

The post Cannabis Stock News Daily Roundup May 1 appeared first on Market Exclusive.