It’s time for your Daily Hit of cannabis financial news for February 19th, 2020.
On the Site
Cannabis Sustainability: Minimize Wastewater
Drought and water shortages are an expensive reality in some of the best cannabis-growing regions. As a result, water conservation practices help reduce water waste and overall operations costs, particularly for commercial grows.
Use Cannabis? Spotlight on Driving Unimpaired
The article went in-depth on what those who are pulled over with medical cannabis in Florida should do. Drivers must be able to produce a valid medical cannabis card. In other words, don’t leave your card at home. Drivers should also not drive with hemp/CBD without a certificate of analysis in the vehicle as well.
Zenabis to Produce Sparkling Beverages
Zenabis Global Inc. (TSX: ZENA) announced details of its cannabis derivative product strategy and execution, including entering into an agreement with a Canadian beverage manufacturer to produce a range of cannabis-infused beverages.
The initial launch of cannabis-infused sparkling water beverages under the HYTN brand is listed with all Zenabis’ Provincial counterparties, with strong indicative demand. The first shipment of the initial four flavors of the cannabis-infused sparkling water beverages expected in Q2 2020.
Australis Kills Folium Deal
Australis Capital Inc. (CSE: AUSA) (OTC: AUSAF) terminated a proposed merger with Folium Equity Holding LLC and Folium Merger Sub, LLC.
Australis had sent warning signs that the company may not move forward with the deal in corporate meeting notes that surfaced on Google. In those notes, Dowty said, “It was concerning with the multiple lawsuits and all of the stuff on social media. After due diligence and getting to know the team at folium, we felt comfortable you know, with where they are going.”
Move Over Impossible Burger, The CBD Burger Is Next On The Menu
Even though the FDA has expressed its displeasure at adding CBD to food, that hasn’t stopped hamburger chains from tossing in some cannabidiol to enhance their burgers.
Carl’s Jr. became the first fast-food chain to sell a CBD burger for one day at one of its franchises in Denver, Colorado. That has sparked Colorado-based Illegal Burger to offer what it calls its biggest differentiator, “its exclusive line of CBD products.”
In Other News
TILT Holdings Revamps C-Suite
TILT Holdings has appointed interim CEO Mark Scatterday as the permanent CEO of the company. Tim Condor has been appointed as Chief Operating Officer, adding the title of President, effective immediately.
Tilray Stocks at a Low
Tilray (TLRY) has been one of the worst-performing stocks in the cannabis market in the last year. After their IPO price rising to $300 from $17, their luck ran dry and shares recently hit a low around $15. Estimates from analysts predict Tilray’s stock to fall.
Written by Kaitlin Domangue