The cannabis sector has been hot topic recently, mainly due to the continued loosening of regulations seen regarding cannabis for medicinal or recreational usage around the world. Canada’s national legalization of adult-use recreational cannabis, several new U.S. states giving the pot the green light along with the passing of the 2018 US Farm Bill, which legalized hemp at a federal level, has helped to spread strong optimism to investors seeking opportunity in the space.
Four of the largest Canadian cannabis stocks are expected to report earnings over the next few weeks, and while the cannabis sector continues to garner a more favorable public opinion, companies in the space may see investors paying even closer attention to the sector than before.
Premier Health Group, Inc. (PHGRF) (PHGI) announced as a part of its expansion plans, it is formally entering the cannabis clinic space. The company has been in discussions with Canadian ACMPR-Licensed Producers in order to partner with a, or multiple, Licensed Producers to provide doctor and patient education at the clinic level and anticipates providing additional updates on its expansion later this quarter. Premier Health’s recent acquisition of Cloud Practice, a medical software company, has provided the company with an underlying platform to help empower and streamline patient-doctor interaction.
“We are currently working on a partnership model to hard code the decision-making process into the Electronic Medical Records (EMR),” said Dr. Essam Hamza, CEO. “There has been a critical gap between the patient’s need for medical cannabis and the doctor’s knowledge and comfort level in prescribing it. At Premier we understand the frustration felt from both the patient and the doctor and are integrating what we think is a revolutionary process. This new tool will allow us to provide a much-needed service to the 287 clinics and almost 3 million patients in our ecosystem.”
Premier Health is also moving forward with a binding LOI to acquire two cash flow positive Vancouver pharmacies and anticipates the acquisition to close in or about Q2 2019 and recently entered into a strategic partnership with China’s 360 Health, a healthcare subsidiary of 360 Security Technology whereby Premier will be providing second opinion services by connecting 360 Health’s patients in China with doctors in Canada both remotely and in person.
Aurora Cannabis Inc (ACB) announced today that it has completed its first commercial export of cannabis oil to the United Kingdom and the product has been successfully dispensed from a pharmacy. Authorities there recently granted the Company approval for its first shipment of medical cannabis into the UK from Canada under its new legal framework that came into effect on November 1, 2018.
“Being one of the first Canadian companies to commercially supply cannabis-based medicines into the UK under the new legal framework reflects Aurora’s ability to do business in international markets that have complex and evolving regulatory systems,” said Neil Belot , Chief Global Business Development Officer. “Aurora continues to grow its international footprint, which now includes the UK, a country with a population of approximately 66 million people. Regardless of the barriers we may be faced with, we are focused on helping patients around the world get access to the medicine they need.”
Aurora announced a confirmed time for its scheduled conference call to discuss the results for its Q2 2018 ended December 31, today Monday February 11th at 6:00 p.m. by Terry Booth, CEO, Glen Ibbott, CFO, Cam Battley, CCO, and Michael Singer, Chairman of the Board, followed by a question and answer period.
Cronos Group Inc (CRON) is expected to report Q4 earnings prior to the opening bell on Wednesday, February 13th, 2019. The company announced in December that it had entered into a subscription agreement with tobacco giant Altria Group Inc, pursuant to which Altria has agreed to make an approximately C$2.4 billion equity investment in Cronos for a 45% stake.
Cronos also announced in mid-January that it had sent out all necessary meeting materials for a special meeting of holders of common shares of the Company to be held later this month, including the management proxy circular dating back to December 31, 2018, prepared in connection with the proposed equity investment by Altria.
Shareholders will be asked to approve both the Investment and certain matters ancillary to the Investment, including the election of new directors to the Board of Directors of Cronos Group and certain agreements as contemplated by the subscription agreement entered into with Altria.
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