Key Takeaways; Cannabis Sector

• Aurora Cannabis received EU-GMP certification for its Brampton distribution facility
• High Tide secured $30 million boost from Cronos to accelerate retail expansion
• Simply Solventless ramped up capacity and strengthened balance sheet in a strategic push for growth

Key Takeaways; Psychedelic Sector

• Clearmind expanded clinical trial for psychedelic-based alcohol use disorder treatment
• Cybin secured UK approval to launch EMBRACE study in pivotal phase 3 depression program
• Enveric’s EB-003 showed promising preclinical results in PTSD treatment model, matching effects of MDMA

Below is a weekly roundup of what happened this week in the cannabis and psychedelic sectors. In this ever-evolving landscape, we explore the major developments and groundbreaking initiatives happening among companies operating in these industries; from advancements in medical research, therapeutic applications to shifts in legal frameworks and current market trends.

Top Marijuana Companies for the Week

#1: Aurora Cannabis

Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB), one of the Canadian-based global leader in medical cannabis, announced that its dedicated distribution center in Brampton, Ontario, had received European Union Good Manufacturing Practice (EU-GMP) certification, marking a significant expansion of its international operations and regulatory credentials.

The Brampton facility became Aurora’s fourth EU-GMP-certified site, joining a network of manufacturing operations in both Canada and Europe that already meet stringent EU quality standards. According to the company, this certification positions Aurora as a major force in the international medical cannabis market, particularly in Europe, where demand for regulated cannabis products continues to surge.

“This certification is a critical validation of our differentiated approach to operating as a global medical cannabis company,” said Jill Lau, Vice President of Canadian Operations at Aurora. “By adding certification for our distribution centre, we are now uniquely positioned to ensure patients worldwide have consistent access to superior quality medical cannabis from the largest Canadian exporter.”

The EU-GMP certification, which is granted under the EudraLex “Rules Governing Medicinal Products in the European Union,” is recognized globally as a gold standard for pharmaceutical-grade manufacturing. It ensures that cannabis production facilities meet rigorous criteria for quality, consistency, safety, and compliance, all of which are mandatory for exporting medical cannabis into the European Union.

With this backdrop, Aurora doubled down on international expansion. Earlier this year, the company launched its first German-cultivated cannabis products, which are grown at its EU-GMP-certified Leuna facility in Saxony-Anhalt, Germany. This site is one of only three licensed cannabis production facilities in the country and produces approximately 1,000 kg of medical cannabis annually.

Aurora’s operations now span Canada, Germany, the UK, Poland, and Australia, enabling the company to serve a broad array of markets with consistent, EU-compliant medical cannabis products. Its brand portfolio includes both domestic names: MedReleaf, CanniMed, Whistler Medical Marijuana Co., and Aurora; and international labels like Pedanios, IndiMed, and CraftPlant.

#2: High Tide

High Tide Inc. (NASDAQ: HITI) (TSXV: HITI), Canada’s largest non-franchised cannabis retailer, closed a $30 million convertible debt financing deal with a wholly owned subsidiary of Cronos Group Inc. (NASDAQ: CRON), bolstering its ambitions to rapidly expand its store network and grow organically through strategic acquisitions.

The financing, which was announced on July 16, gave High Tide working capital at a critical time, as the company aims to scale its footprint beyond its current 300 locations nationwide.

“Given our strong and proven business model, it’s incredibly validating to receive a second vote of confidence in the form of an investment from a major licensed producer in recent months,” said Raj Grover, Founder and CEO of High Tide. “This investment is not just capital—it’s a clear endorsement of the value we add to the legal cannabis ecosystem.”

Grover emphasized that the funds would be used strictly for growth, both domestic and international. “We’re poised to accelerate our expansion in Canada and abroad,” he added. “This is about scaling our impact, helping drive down the illicit market, and reinforcing Canada’s regulated framework.”

The agreement included a Junior Secured Loan with a five-year term, bearing interest at 4% per annum. It is secured by a third-priority lien on certain High Tide assets. According to the terms, Cronos can, with High Tide’s consent, convert the loan into common shares at a price of $4.20 per share, excluding the original issuance discount.

In addition, Cronos received a warrant to purchase up to 3.8 million common shares at $3.91 per share, a 25% premium to High Tide’s 30-day volume weighted average price prior to the announcement. The warrant is exercisable over five years, providing Cronos with a long-term upside if High Tide’s growth trajectory continues.

Mike Gorenstein, Chairman, President, and CEO of Cronos Group, framed the investment as a strategic show of support for a more equitable and competitive cannabis industry.

“Our investment was driven by the belief that a competitive and equitable retail environment benefits the entire industry—producers, retailers, and adult consumers,” said Gorenstein. “We remain fully committed to working with and supporting all our retail partners.”

#3: Simply Solventless

Simply Solventless Concentrates (OTCPK: SSLCF) (TSXV: HASH) (“SSC”), a company known for its solventless cannabis products, launched a major retrofit of its Humble Grow Co. facility in Winnipeg, which was formerly operated by Delta 9 Cannabis. The move marked a pivotal milestone in the company’s aggressive growth strategy and followed the successful closing of repayment and amendments to promissory notes associated with its acquisition of pre-roll manufacturer ANC Inc.

The retrofit is set to nearly double SSC’s cannabis production capacity from 8,000 kilograms annually to 14,000 kilograms. With this scale-up, the company anticipates boosting annual revenue from approximately $6 million to $18 million, assuming current market prices remain steady. Harvests from the upgraded facility are projected to begin by late 2025 or early 2026.

“We have been keen to proceed with the retrofit since we acquired Humble,” said Jeff Swainson, President and CEO of SSC. “We are now in the position to allocate cash flow from operations to the retrofit. We look forward to reaping the rewards of this material increase in production in an environment with balancing supply and demand dynamics.”

The $2.5 million retrofit will be financed through a blend of equipment financing and SSC’s operating cash flow.

Humble Grow Co., which SSC acquired earlier this year, has already proven to be a valuable asset. In Q2 2025, the facility generated $2.4 million in revenue. SSC attributed this performance to a skilled cultivation team, seamless integration, and effective cost-cutting measures.

In tandem with the Humble retrofit, SSC also announced it had finalized the repayment and amendment of up to $7.15 million in non-interest-bearing promissory notes originally issued to the prior shareholders of ANC Inc., a pre-roll cannabis company, which was acquired by SSC in late 2024.

The repayment structure consisted of several components. Approximately $3.4 million of the outstanding notes were settled through the issuance of 6,875,000 common shares of SSC at a price of $0.50 per share. An additional $0.5 million of the notes was fully discharged. Of the remaining balance, $1 million will be repaid in cash by June 3, 2026, while $2.2 million will be repaid through weekly installments averaging $21,370.19 over a two-year period.

“We would like to thank ANC’s prior shareholders for their belief in SSC as demonstrated by their desire to have approximately $3.4 million of their notes repaid in SSC shares at $0.50/share,” Swainson noted. “This arrangement significantly improves SSC’s balance sheet while reducing cash flow obligations, providing a strong foundation for future growth and the execution of our impactful business plan.”

Top Psychedelic Companies for Week

#1: Clearmind

Clearmind Medicine Inc. (NASDAQ: CMND) announced a significant milestone in its ongoing clinical development program, expanding its Phase I/IIa clinical trial for CMND-100, a proprietary oral treatment targeting Alcohol Use Disorder (AUD). The latest development included the activation of a new clinical site at the Johns Hopkins University School of Medicine and the enrollment of the first participant at that location.

The trial, which is already underway at Yale School of Medicine, aims to evaluate the safety, tolerability, and pharmacokinetic profile of CMND-100, a treatment based on the novel compound MEAI. Researchers will also assess early indicators of the drug’s efficacy in reducing alcohol cravings and consumption.

“Each new clinical site we activate and each new participant we enroll brings us one step closer to validating CMND-100’s potential to redefine the treatment landscape for AUD,” said Dr. Adi Zuloff-Shani, CEO of Clearmind Medicine. “This expansion reflects both the scientific community’s interest in our approach and our commitment to accelerating progress for patients in need of better solutions.”

The multinational, multicenter study involves both single and multiple-dose phases, with the goal of establishing the safest and most effective dosing regimen. According to the company, the growing clinical network and increased enrollment signal rising interest in the potential of CMND-100 as a groundbreaking therapy for a widely under-treated condition.

#2: Cybin

Cybin Inc. (NYSE: CYBN) (Cboe CA: CYBN) received regulatory approval from the UK’s Medicines and Healthcare Products Regulatory Agency (MHRA) to initiate EMBRACE, the second pivotal Phase 3 study in its multinational PARADIGM program evaluating CYB003, a proprietary deuterated psilocin analog, for the adjunctive treatment of Major Depressive Disorder (MDD).

“MHRA approval to initiate the EMBRACE component of our PARADIGM program in the UK marks an important step forward as we advance our lead program, CYB003, through the regulatory process,” said Doug Drysdale, Cybin CEO. “The Agency’s decision serves as strong validation of both the quality of our data and the urgent need to develop new and effective therapeutics to treat depression.”

The EMBRACE study will enroll 330 participants diagnosed with moderate to severe MDD who are already on a stable dose of antidepressant medication but have shown inadequate response. Patients will be randomly assigned in equal numbers to receive CYB003 at 16 mg, 8 mg, or a placebo, with two doses administered three weeks apart. The primary endpoint is the change in depressive symptoms measured by the Montgomery–Åsberg Depression Rating Scale (MADRS) six weeks after the first dose.

Part of the larger PARADIGM™ program, EMBRACE joins APPROACH, the first Phase 3 study currently dosing participants, and EXTEND, a long-term follow-up trial. Across these three studies, Cybin plans to enroll approximately 550 patients at around 60 clinical sites in the U.S., Europe, and Australia.

The U.S. Food and Drug Administration has already granted Breakthrough Therapy Designation to CYB003, highlighting the potential of this novel therapy to address the limitations of existing treatments for MDD. According to Drysdale, “With expected enrollment of 330 participants, the EMBRACE study aims to generate critical late-stage data that, ultimately, may lead to transforming the standard of care for patients in need.”

Cybin, a late-stage neuropsychiatry company, continues to lead the charge in developing next-generation psychedelic-based therapeutics. Alongside CYB003, it is also progressing CYB004, a proprietary deuterated DMT compound, in a Phase 2 trial for generalized anxiety disorder.

#3: Enveric Biosciences

Enveric Biosciences, Inc. (NASDAQ: ENVB) announced encouraging preclinical data for EB-003, its lead neuroplastogenic drug candidate for Post-Traumatic Stress Disorder (PTSD), marking a potential breakthrough in psychiatric treatment. In a well-established rodent model of PTSD, a single oral dose of EB-003 significantly reduced trauma-induced freezing behavior, indicating a rapid therapeutic effect and successful extinction of fear memory.

The study used fear-conditioned mice exposed to context-based traumatic memory, a Pavlovian association model commonly used to simulate PTSD-like symptoms. Mice treated with EB-003 exhibited a statistically significant reduction in freezing behavior one-hour post-dose, a result that closely mirrored the effects of MDMA, a psychedelic compound known to alleviate PTSD symptoms in clinical studies, though it remains unapproved by the FDA.

“Only 20% to 30% of PTSD patients achieve full remission with currently approved treatments like SSRIs, which also require weeks to take effect,” said Dr. Joseph Tucker, CEO of Enveric. “There is an urgent and growing need for more effective, faster-acting therapies. We are very encouraged that a single dose of EB-003 facilitated rapid fear extinction in this model.”

Dr. Tucker noted that impaired hippocampal neuroplasticity has been implicated in the development and persistence of PTSD, and that EB-003, which is a non-hallucinogenic neuroplastogen, could offer a safer, faster-acting alternative to existing treatments by enhancing neural rewiring without psychedelic effects.

The promising data position EB-003 as a potential first-in-class treatment for PTSD, with Enveric planning further development and clinical advancement. The study was conducted by a third-party laboratory and added momentum to the company’s goal of revolutionizing treatment options for psychiatric and neurological conditions.