Cannabis Stock News Daily Roundup July 9

Wellness and CBD brand Kaleidoscope Labs has raised a $4 million seed round support their expansion efforts. New York-based venture capital firm RRE Ventures led the round with participation from Barry Rosenstein, founder of JANA Partners.

Story continues below

SOL Global Investments (CSE: SOL) (OTCQB: SOLCF) (Frankfurt: 9SB) has completed a $50 million private placement financing by way of the issue and sale of a senior secured non-convertible debenture to an arm’s length institutional investor. The company intends to use the net proceeds for working capital and general corporate purposes and to primarily finance the continued build-out of its hemp and CBD strategy via Heavenly Rx Ltd. and the build-out and acquisition of additional assets in Florida, Michigan and California for its previously-announced, new cannabis multi-state operator.

CannTrust Holdings (TSX: TRST) (NYSE: CTST) has received a compliance report from Health Canada notifying the company that its greenhouse facility in Pelham, Ontario, is non-compliant with certain regulations. In a press statement, the company said that it has accepted Health Canada’s non-compliance finding and has taken actions to ensure current and future compliance.

Neptune Wellness Solutions (NASDAQ: NEPT) (TSX: NEPT) has named Michael Cammarata, an entrepreneur and innovator in the wellness industry, as its CEO and as a director, effective July 8. Jim Hamilton has stepped down from his role as CEO and director after four years and will remain as an advisor to the board.

Khiron Life Sciences (TSXV: KHRN) (OTCQB: KHRNFannounced its participation in the XLIV International Course of Internal Medicine conference, which took place from July 3-6 in Monterrey, Mexico. Organized by the Mexican College of Internal Medicine, Khiron was the only cannabis company to participate in this year’s conference, where it joined over 2000 physicians and medical specialists to inform, educate and discuss medical cannabis knowledge and developments.

Westleaf (TSX-V: WL)(OTCQB: WSLFF) has appointed Cody Church to its board of directors. Church joins Westleaf after a successful career in finance in New York and Calgary. Most recently, he was the co-founder and senior managing director of TriWest Capital Partners, one of the largest general buyout funds in Western Canada and one of the leading private equity groups in the country.

Jushi Holdings (NEO: JUSH.B) has signed agreements to acquire the majority of the membership interests in Dalitso, one of only five applicants to receive conditional approval for a permit issued by the Virginia Board of Pharmacy to cultivate and process medical cannabis, and to dispense and deliver CBD oil and THC-A oil extracts in Virginia. Dalitso’s conditional approval is for the northeast region of Virginia, and the company is developing a facility in Prince William County near the City of Manassas.

SLANG Worldwide (CNSX: SLNG) (Frankfurt: 84Sannounced that its RESERVE line of vaporizer cartridges is now on sale in Florida through Trulieve Cannabis (CSE: TRUL) (OTC: TCNNF).  Trulieve has an exclusive license to produce and distribute the SLANG portfolio of products in Florida. As Florida’s largest fully integrated medical cannabis company, Trulieve is offering RESERVE at all 29 of its licensed dispensaries across the state.

Sundial Growers has filed a registration statement with the U.S. Securities and Exchange Commission and a preliminary prospectus in Canada with the securities regulatory authorities in each province of Canada other than the Province of Quebec for a proposed initial public offering of its common shares. The number of shares to be offered and the price range for the offering have not yet been determined.

An ad to help with our costs