Cannabis Stock News Daily Roundup September 18

Supreme Cannabis (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) has reported its financial results for the fourth quarter and fiscal year ended June 30, 2019. Revenue was C$19.01 million, up from C$3.55 million for the fourth quarter of 2018. Net loss for the quatre was C$421,000, compared to a profit of C$234,000 for the same period last year. For the full-year, the company reported a revenue of C$41.83 million, versus C$8.86 million for 2018. Net loss for the year was C$14.50 million, compared to a loss of C$7.35 million for 2018.

Westleaf (TSX-V: WL) (OTCQB: WSLFF) has issued 909,090 common shares to Xabis at a $0.44 per share. The issuance was made under a consulting and extraction services agreement between a subsidiary of Xabis and Westleaf subsidiary Westleaf Labs LP. Under the terms of the agreement, Xabis will provide technical expertise to the company’s Calgary-based extraction, processing and manufacturing facility.

Nabis Holdings (OTCMKTS:NABIF) has announced that it has entered into a strategic agreement with CannaKorp, a tech start-up focused on herbal vaporization. CananKorp will be an authorized partner supplying Wisp Pods for the Wisp Vaporizing System (“Wisp”) in Arizona. The company will also supply custom Wisp Pods branded as BIS, the Company’s recently launched cannabidiol brand.

The Wisp Vaporizing System is a single-use pod and vaporizer system that converts botanical compounds into vapor without denaturing the product. “We are thrilled to announce our strategic agreement with CannaKorp as the exclusive manufacturer and authorized supplier of Wisp Pods for their innovative Wisp Vaporizing System initially in the state of Arizona,” said Shay Shnet, Nabis CEO.

CannTrust Holdings (TSX: TRST) (NYSE: CTST) has received the notice of license suspension due to the company’s non-compliance with certain requirements of the Cannabis Act of Canada. The notice states that Health Canada has suspended CannTrust’s authority to produce cannabis, other than cultivating and harvesting, and to sell cannabis. The notice constitutes a partial suspension of the company’s license for standard cultivation and a full suspension of its licences for standard processing, medical sales, cannabis drugs and research issued under the cannabis regulations.

In its latest regulatory filing, GB Sciences (OTCQB: GBLX) reported the sale of its 50% ownership stake in GB Sciences Louisiana. The stake will be purchased by Wellcana Plus, affiliated through its managers with the group which holds the other 50% of the Louisiana operations.

Diego Pellicer Worldwide (OTCQB: DPWW) has executed a letter of intent to purchase a marijuana-infused product manufacturing facility in Denver. The 2,287-square-foot facility is a state-of-the-art, division 1/class 1 facility with an office and walk-in vault.

Choom (CSE: CHOO) (OTCQB: CHOOF) has appointed Daphne Kao as vice president of people and culture. Daphne joins Choom with more than 10 years of human resources experience in both corporate and start-up environments across the real estate, technology, e-commerce and retail industries.

Canopy Rivers (TSX: RIV) (OTC: CNPOF) announced that its portfolio company TerrAscend (CSE: TER) (OTCQX: TRSSF) has entered into a distribution agreement with Israel-based pharma-tech company Syqe Medical to launch Syqe’s flagship product, the Syqe Inhaler, in Canada.

TerrAscend (CSE: TER) has closed its acquisition of Pennsylvania-based Ilera Healthcare, one of five permitted cannabis cultivator, processor, and dispensary operators in the state. With the acquisition, TerrAscend’s licensed cannabis footprint expands to four U.S. states, in addition to its global reach into Canada and Europe.

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