TM editors’ note: This article discusses a penny stock and/or microcap. Such stocks are easily manipulated; do your own careful due diligence.
The cannabis sector traded higher after Constellation Brands made a $245 million investment in a Canadian marijuana producer.
This development caught the attention of almost every mainstream financial media channel and we are favorable on the long-term implications of this investment.
Today, we have highlighted three announcements from Canadian cannabis firms and will keep an eye on how these stocks continue to trade.
Aurora Cannabis Appoints New CIO
After the market closed yesterday, Canadian marijuana producer Aurora Cannabis Inc. (ACB.TO) (ACBFF) appointed Darryl Vleeming as its new Chief Information Officer. We are favorable on this move as Darryl will help Aurora scale up its e-commerce platform, establish systems to manage the vast amount of data it generates, and ensure tight alignment across its domestic and international operations.
Vleeming comes to Aurora with over 20 years of experience in Senior IT leadership, project delivery, and IT strategic planning at publicly traded international corporations, with a specific focus on driving business value. Prior to joining Aurora, he spent eight years, lastly as Vice President, IS and Chief Information Officer, at Capital Power Corporation, a $2.5 billion, TSX listed independent power producer.
Aurora also issued 1,369,072 common shares (at $2.54) and 469,044 common shares (at $2.98) to the vendors of CanvasRx in accordance with CanvasRx achieving certain earn-out payment milestones for the period that ended on September 30th.
Reliq Health Clarifies its Oversubscribed Financing Deal
Reliq Health Technologies Inc. (RHT.V) (RQHTF) provided clarification on its October 17th news release as the company intends to offer a $4 million private placement financing of up 10,000,000 units at $0.40 each.The offering is led by Canaccord Genuity Corp. and Gravitas Securities Inc.