Two of Aphria’s cultivation facilities obtain EU-GMP certification
Aphria said Tuesday its Maltese subsidiary was awarded a key European Union certification, allowing the cannabis producer to begin shipping medical cannabis to the continent. The company’s Avanti Rx Analytics subsidiary received the Good Manufacturing Practices certification from Maltese authorities, and expects the first shipments of medical cannabis to its German pharmaceutical business will occur in its fourth quarter of its fiscal 2020. The company’s Aphria One facility in Leamington, Ont. also appears to have been awarded the EU-GMP certification, according to regulatory documents published online. An Aphria spokesperson didn’t immediately respond to queries from BNN Bloomberg on its Aphria One certification status.
Tetra Bio-Pharma announce $10M bought deal to expand commercialization efforts
Ottawa-based Tetra Bio-Pharma said it has completed a $10 million bought deal offering on Tuesday, a new financing round led by boutique investment bank Echelon Wealth Partners. Each of the units sold as part of the bought deal represents one common share of the company as well as a warrant to acquire one share at $0.75 per share over the next 36 months. The proceeds from the financing will be earmarked for working capital and general corporate purposes, the company said. Tetra Bio-Pharma recently announced it submitted two drug information numbers to Health Canada for its over-the-counter medications that are derived from the cannabis plant.
Falcon to defend against Harvest Health & Rec complaint alleging illegal activities
Falcon International responded Tuesday to a complaint lodged by U.S. cannabis operator Harvest Health & Recreation made against the company earlier this month. Harvest previously alleged illegal activities at Falcon, filing a lawsuit and ending a planned acquisition of the company. In a statement, Falcon requests Harvest pays a break-up fee of US$50 million and says it “will prevail in defending the matters set forth in Harvest's complaint.”
DAILY BUZZ
$666,666.41
-- The amount of MedMen Enterprises stock purchased by the company’s CEO Adam Bierman on Jan. 16, according to regulatory filings. Two other company insiders purchased a similar amount of the U.S. cannabis operator’s stock on the public market, the filings show.
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