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Cannabis Stock News Roundup November 15

ME Staff

The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (US: TGODF) reported its financial and operational results for the three and nine months ended September 30, 2019. The company experienced a loss of C$20.1 million for the third quarter. The important move TGOD made in the quarter was entering the recreational market with a small pilot in Ontario. The company is increasing production to be able to fully supply the OCS and other cannabis boards and prepare for the launch of the first wave of its Cannabis 2.0 product portfolio at the end of this year.

Aurora Cannabis (NYSE: ACB) (TSX: ACB) announced its financial and operational results for the first quarter of fiscal 2020 ended September 30. Net cannabis revenue of C$70.8 million, compared to C$94.6 million in the first quarter of 2019. Total gross profit was C$53.7 million. The company had total revenue of C$75.2 million in the first quarter of 2020, compared to C$98.9 million in the prior quarter. Medical cannabis net revenues rose to C$30.5 million in the first quarter, up 3% over the prior quarter.

Supreme Cannabis (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) reported its financial and operating results for the first quarter ended September 30. The company’s subsidiary 7ACRES accounted for the year-over-year increase in net revenue, growing by 122% to C$11.4 million in first quarter from C$5.1 million in the same quarter pf 2019. Quarter-over-quarter revenue decreased by 40%.

Charlotte’s Web Holdings (TSX: CWEB) (OTCQX: CWBHF) announced the appointment of Jacques Tortoroli to its board of directors. Tortoroli most recently served as chief administration officer of Bacardi Limited in Bermuda. He has experience in finance and operations at both private and public companies.

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OWC Pharmaceutical Research Corp. (OTCQB: OWCP) and STENOCARE A/S have signed a memorandum of understanding to develop and commercialize new cannabis-based medical products. The partnership will provide market access to OWC’s technologies and will accelerate STENOCAREs strategy to supplement its generic medical cannabis products with differentiated products that are formulated to target specific patient groups suffering from specific conditions.

Kikoko, which is focused on cannabis wellness for women, has closed an $8 million round of Series A funding led by Bengal Capital. The funding follows a breakout year in which the company’s signature tea products propelled Kikoko to the top position in California cannabis beverage sales, according to BDS Analytics.

The post Cannabis Stock News Roundup November 15 appeared first on Market Exclusive.