Mar 16, 2020
Cannabis Canada: Former Aurora CEO sells more than two-thirds of stake in company
Booth sells $13.6M in Aurora stock for ‘future business opportunities’
Former Aurora Cannabis chief executive officer and co-founder Terry Booth sold more than two-thirds of his stake in the cannabis producer, stating the sale was due to current market conditions and to help fund future business opportunities. Booth, who left Aurora last month in a major corporate shake-up, sold about $13.6 million of his holdings in the cannabis producer and still owns about 6.1 million shares in the company. “I believe many cannabis stocks, including Aurora, are undervalued and I will be watching present market conditions unfold. I will definitely be considering buying back in once the dust settles,” Booth told BNN Bloomberg in an email.
Canopy ships first pot-infused beverage across Canada
Canopy Growth is getting ready to start selling cannabis-infused beverages, just two months after it pressed pause of the launch due to quality control issues. Canopy said in a statement that its first THC-infused drink – the Houndstooth & Soda – was shipped to provincial boards and retailers nationwide late last week. Canopy now joins Tilray, Valens and TerrAscend as the few licensed cannabis producers that have an infused drink available for sale on the market. Canopy previously suspended its plans to launch its drinks portfolio in January after its CEO stated it needed to complete the build-out of its bottling facility for commercial production.
NFL players vote to ban suspensions for cannabis usage, limit testing period
NFL players voted to approve a proposed new collective bargaining agreement with the league's owners over the weekend, with cannabis factoring in significantly to the league’s new drug policy. According to ESPN, the agreement will eliminate suspensions for positive cannabis tests, limit the testing period to the first two weeks of training camp, and raise the threshold for a positive test to 150 nanograms of THC. If a player is found positive for cannabis, they may be referred to a board of jointly-appointed medical professionals for treatment options. Yahoo Sports doesn’t think the amended drug policy helps players that consume cannabis, stating that fines for testing positive could result in half-week’s salary to three weeks’ salary.
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