Cannabis Stock News Daily Roundup May 17

Cannabis Stock News Daily Roundup May 17

The Supreme Cannabis Co. (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) and Blissco Cannabis (CSE: BLIS) (OTCQB: HSTRF) (FRA: GQ4B:GR) have entered into an arrangement agreement under which Supreme Cannabis will acquire all of the issued and outstanding common shares of Blissco not already owned by the company by way of a court-approved plan of arrangement under the Business Corporations Act. The all-stock deal is valued at approximately C$48 million.

Vireo Health International (CSE: VREOannounced the addition of four new directors to the company’s board and the formation of three committees to provide oversight and guidance on audit, compensation, and other corporate governance matters.

Helix TCS (OTCQB: HLIX) reported its financial results for the first quarter of 2019, with total revenues jumping 199% to $3.37 million. The company had a gross profit of $1.45 million, a 43% gross margin.

Village Farms International (TSX: VFF) (NASDAQ: VFF) applauded the passage by of House Bill 1325 by the Texas State Senate. HB 1325 is a bi-partisan bill that, if passed into law, will establish a Texas Hemp Program, providing a regulatory and licensing framework for the cultivation and processing of hemp, as well as for products made from hemp, including cannabidiol (CBD).

HempWave has entered into long-term agreements to acquire two existing Arizona-based greenhouses to grow industrial hemp seeds and clones. The two greenhouses – based in Phoenix and Willcox, Arizona, respectively – have a combined total of over 210,000 square feet of arable land that HempWave will dedicate to growing commercial hemp.

Alternate Health (CSE: AHG) (OTCQB: AHGIFannounced that it is restructuring its assets towards the potential $22 billion American CBD industry, and is focusing exclusively on hemp-derived cannabinoid extraction, and manufacturing and distributing proprietary medical grade products.