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Cannabis Stock News Daily Roundup February 13

ME Staff

Liht Cannabis (CSE: LIHT) (OTCQX: LIHTF) reported the preliminary results of its first harvest in Las Vegas, Nev. The company started harvesting the first of its six cultivation rooms earlier this month. Room One, comprised of popular strains such as Bubba Kush, Moonshine Ghost Train Haze, Amherst Sour Diesel, Skywalker and Lemon Skunk, has produced 200 lbs of wet flower, the company said in a statement, noting that samples of 5 lbs lots of each strain will be sent for mandatory testing to meet the State of Nevada’s regulations.

Denver-based luxury personal care company Elite Therapeutics has announced a CBD-infused pain relief formula. The Elite Therapeutics CBD Recovery Crème is the first product in the Elite skincare line to soothe pain while promoting healthier, more youthful-looking skin, the company said in a statement.

Supreme Cannabis Co. (TSX: FIRE) (OTCQX: SPRWF) has released its financial and operating results for the three and six months ended December 31, 2018. Revenue was $7.72 million, a year-over-year increase of 359%, while the company booked a loss of $1.55 million, versus a loss of $2.03 million in the last year’s same quarter.

Aurora Cannabis (NYSE: ACB) said that the construction of a 300,000 square foot expansion at the Edmonton International Airport is progressing well. The new facility, named Aurora Polaris, is designed to serve as the company’s center-of-excellence for the industrial-scale production of higher margin, value added products, such as edibles which Health Canada regulations propose to permit from October 2019 onwards.

InMed Pharmaceuticals (TSX: IN) (OTCQX: IMLFF), a cannabinoid-based biopharmaceutical firm engaged in developing therapeutics for the treatment of diseases with high unmet medical needs, reported financial results for the three and six months ended December 31, 2018, which is the company’s second quarter of fiscal year 2019. The company recorded a loss of $2.65 million, or $0.02 per share, compared with a loss of $1.54 million, or $0.01 per share, for the three months ended December 31, 2017.

Crop Infrastructure (CSE: CROP) (OTC: CRXPF) has received confirmation that its San Bernardino retail cannabis business application has now advanced to stage four of the application review process. The company and its partners will attend a special mayor and city council meeting to make a three minute presentation followed by a question and answer session. Subject to a successful outcome, the company will be licensed to open its San Bernardino retail location.

HALLEY Venture Partners, a San Francisco-based venture capital firm focusing on cannabis-related technology companies, has announced an $8 million capital commitment from an East Coast-based single family office. HALLEY focuses primarily on early-stage technology companies that can help licensed cannabis businesses increase sales, create new products, reduce costs, comply with regulations, and discover the medical benefits of cannabis and hemp.

Aurora Cannabis (NYSE: ACB) (TSX: ACB) reported its financial and operational results for the second quarter ended December 31, 2018. Net revenue was $54.2 million, up 363% compared to the same period in 2018, driven by the company’s strong performance in the launch of the Canadian consumer market. The company reported a loss attributable to common shareholders of $237,752, versus a profit of $7,722 in 2018.

Luxury specialty retailer Barneys New York is opening a luxury cannabis lifestyle and wellness concept shop called The High End. The shop will open in the company’s Beverly Hills flagship in March, featuring an exclusive partnership with cannabis company Beboe, and an extensive selection of accessories and lifestyle products. Barneys plans to expand The High End to additional locations in the near future.

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