The Week In Cannabis: Aurora’s Roller Coaster Ride, USDA’s Hemp Moves, MJ’s Dividend And More

The last full week of the year, and decade, came with relatively few developments.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="We started off with some sad news, as we learned psychedelic pioneer and spiritual teacher Ram Dass,&nbsp;born Richard Alpert, died at 88.&nbsp;His work&nbsp;lives on in the hearts and minds of the many people he touched. For further information on Ram Dass’&nbsp;life and teachings, follow this link.” data-reactid=”19″>We started off with some sad news, as we learned psychedelic pioneer and spiritual teacher Ram Dass, born Richard Alpert, died at 88. His work lives on in the hearts and minds of the many people he touched. For further information on Ram Dass’ life and teachings, follow this link.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="The U.S. Department of Agriculture&nbsp;announced hemp farmers in more than 20 states will be able to apply for crop insurance under a&nbsp;pilot program next year, and later approved several sets of regulations presented by states and Native American tribes.” data-reactid=”20″>The U.S. Department of Agriculture announced hemp farmers in more than 20 states will be able to apply for crop insurance under a pilot program next year, and later approved several sets of regulations presented by states and Native American tribes.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="If you want to receive this news recap in your email inbox every week, please subscribe to https://tinyletter.com/javierhasse” data-reactid=”21″>If you want to receive this news recap in your email inbox every week, please subscribe to https://tinyletter.com/javierhasse

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="On the markets front, shares of Aurora Cannabis Inc (NYSE: ACB) went on a bit of a roller coaster as Chief Corporate Officer Cam Battley left the company.&nbsp;Later in the week, rumors about Coca-Cola Co (NYSE: KO) planning to enter the CBD beverages market emerged — and were quickly shut down by Coke.&nbsp;” data-reactid=”22″>On the markets front, shares of Aurora Cannabis Inc (NYSE: ACB) went on a bit of a roller coaster as Chief Corporate Officer Cam Battley left the company. Later in the week, rumors about Coca-Cola Co (NYSE: KO) planning to enter the CBD beverages market emerged — and were quickly shut down by Coke. 

Following Battley’s resignation, MKM Partners’ Bill Kirk reiterated a Sell rating on Aurora, lowering the price target from CA$3 ($2.28) to CA$2 ($1.52). “Directors selling and executives leaving give us increased confidence that profitability is not on the horizon and Aurora’s 2.0 products will do little to turn the ship,” the analyst said. 

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="The issuer of the ETFMG Alternative Harvest ETF (NYSE: MJ), the world’s largest cannabis-focused ETF, announced a $13,056,000 quarterly dividend Friday. Stockholders of record as of the close of business Dec. 30 will receive 32 cents per share on Jan. 3.” data-reactid=”24″>The issuer of the ETFMG Alternative Harvest ETF (NYSE: MJ), the world’s largest cannabis-focused ETF, announced a $13,056,000 quarterly dividend Friday. Stockholders of record as of the close of business Dec. 30 will receive 32 cents per share on Jan. 3.

Over the course of 2019, investors in MJ received a total of more than $34.2 million in quarterly dividend payouts. The latest dividend projects an annualized return of 7.68%. This translates into a 6.93% yield after the fund’s 0.75% expense ratio is deducted.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="See Also: 65 Outstanding Black And Hispanic Men Leading In Cannabis” data-reactid=”26″>See Also: 65 Outstanding Black And Hispanic Men Leading In Cannabis

Cannabis stocks were back in rthe ed, dragging ETFs down. Over the last five trading days, including Friday, Dec. 20:

• The Horizons Marijuana Life Sciences Index ETF (OTC: HMLSF) (TSE: HMMJ) was down 3.27%.
• The ETFMG Alternative Harvest ETF (NYSE: MJ) lost 2.28%.
• The AdvisorShares Pure Cannabis ETF (NYSE: YOLO) was down 1.56%.
• The Cannabis ETF (NYSE: THCX) tumbled 3.22%.
• The Amplify Seymour Cannabis ETF (NYSE: CNBS) slipped 1.65%.
• The SPDR S&P 500 ETF Trust (NYSE: SPY) closed the period up 0.66%.

More News From The Week

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="In other news, Shineco Inc (NASDAQ: TYHT), a Chinese producer of herbal medicines and products, including hemp products, announced a strategic cooperation agreement with the Wuchang Municipal Government of Heilongjiang Province.” data-reactid=”37″>In other news, Shineco Inc (NASDAQ: TYHT), a Chinese producer of herbal medicines and products, including hemp products, announced a strategic cooperation agreement with the Wuchang Municipal Government of Heilongjiang Province.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="WeedMD Inc. (TSXV: WMD) (OTC: WDDMF) completed its previously announced acquisition of the medically oriented cannabis company Starseed Holdings Inc. The company also finalized a private placement of subscription receipts with the LiUNA Pension Fund of Central and Eastern Canada for aggregate gross proceeds of $25 million.” data-reactid=”38″>WeedMD Inc. (TSXV: WMD) (OTC: WDDMF) completed its previously announced acquisition of the medically oriented cannabis company Starseed Holdings Inc. The company also finalized a private placement of subscription receipts with the LiUNA Pension Fund of Central and Eastern Canada for aggregate gross proceeds of $25 million.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Halo Labs Inc. (NEO: HALO) (OTC: AGEEF) agreed to acquire all of Precisa Medical Instruments Corp.’s common shares for CA$3.75 million&nbsp;at a price of 28 cents per&nbsp;share. Halo plans to fund the Precisa-owned vape product Accu-Dab by investing $1.2 million.” data-reactid=”39″>Halo Labs Inc. (NEO: HALO) (OTC: AGEEF) agreed to acquire all of Precisa Medical Instruments Corp.’s common shares for CA$3.75 million at a price of 28 cents per share. Halo plans to fund the Precisa-owned vape product Accu-Dab by investing $1.2 million.

Later in the week, the company entered into a binding letter of intent to acquire all of the common shares of the U.K. company Canmart Limited.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Medcann Colombia and Botaniki Lab signed a binding supply agreement in&nbsp;the largest deal signed in Colombia to date.” data-reactid=”41″>Medcann Colombia and Botaniki Lab signed a binding supply agreement in the largest deal signed in Colombia to date.

The agreement includes a schedule for the gradual growth of the cultivated area by Medcann, which is slated exceed 247 acres, for the supply of 600 annual tons of dried flower to Botaniki Lab. Medcann will periodically deliver non-psychoactive cannabis to Botaniki Lab, which will then carry out the extraction and export of derivatives to Europe and Latin America.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Valens GroWorks Corp (TSXV: VLNS) (OTC: VLNCF) announced an extraction and white label agreement with Emerald Health Therapeutics Inc (OTC: EMHTF). The agreement’s initial term is four years. Emerald Health will supply Valens with 10,000 kg of cannabis and hemp biomass annually. In addition to offering Emerald Health its extraction services, Valens will provide several white-label services such as formulation, mixing and filling for product formats.” data-reactid=”43″>Valens GroWorks Corp (TSXV: VLNS) (OTC: VLNCF) announced an extraction and white label agreement with Emerald Health Therapeutics Inc (OTC: EMHTF). The agreement’s initial term is four years. Emerald Health will supply Valens with 10,000 kg of cannabis and hemp biomass annually. In addition to offering Emerald Health its extraction services, Valens will provide several white-label services such as formulation, mixing and filling for product formats.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Cannabis-focused compliance technology company Akerna Corp (NASDAQ: KERN) hired John Fowle as chief financial officer.” data-reactid=”44″>Cannabis-focused compliance technology company Akerna Corp (NASDAQ: KERN) hired John Fowle as chief financial officer.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Recreational cannabis retailer National Access Cannabis Corp. (TSXV: META), doing business as Meta Growth, reported fourth-quarter revenue of CA$17.1 million&nbsp;and total gross margin of 33%. For the quarter, the company also disclosed a net loss of CA$13.78 million and an adjusted EBITDA loss of CA$706,502.” data-reactid=”45″>Recreational cannabis retailer National Access Cannabis Corp. (TSXV: META), doing business as Meta Growth, reported fourth-quarter revenue of CA$17.1 million and total gross margin of 33%. For the quarter, the company also disclosed a net loss of CA$13.78 million and an adjusted EBITDA loss of CA$706,502.