Organigram shares spike higher after better-than-expected Q1 results  

Shares of Organigram soared on Wednesday as the company’s better-than-expected quarterly results caught some investors in a short-squeeze. Organigram stock climbed more than 40 per cent after its fiscal first-quarter revenue beat the highest analyst estimate and it returned to positive adjusted EBITDA after a loss in the prior quarter. The Moncton, N.B.- based cannabis producer’s CEO Greg Engel told Bloomberg News the cannabis sector will remain unpredictable until the final quarter of this year, months after the start of next-generation cannabis products. “I still think we’re not going to hit any sense of normalcy or predictability until the fourth quarter of this year,” Engel said

Barbados plans to issue medical cannabis cultivation licences next month: Official  

Barbados plans to begin licensing medical cannabis cultivators next month, the country’s agriculture minister said. Indar Weir told a local news outlet that the country’s Medicinal Cannabis Licensing Authority will start issuing licences to investors in February, five months after the Caribbean nation legislated legal medical cannabis. However, the cost of those licences was not revealed although Weir said they would be likely out of reach for the average Barbardian. The country plans to adopt a tiered approach to cultivation and processor permits, ranging from Tier 1 for small-scale cultivation to Tier 3 for large-scale farms.

Carlos Santana aims for 'Smooth' launch to upcoming cannabis brand 

Latin American guitarist Carlos Santana is partnering with a cannabis-focused venture firm to develop premium cannabis and CBD brands under a yet-to-be named moniker. The musician, known for his popular hits such as 'Oye Como Va' and 'Smooth,' the Grammy Award-winning song performed with legendary Matchbox 20 frontman Rob Thomas, will work with Left Coast Ventures on his new pot business, which is expected to launch this summer in California. “Cannabis is a window or a door to different awareness of consciousness,” Santana said in a news release announcing the partnership.

Curaleaf closes new secured loan deal, raises US$300M  

U.S. cannabis operator Curaleaf Holdings announced Wednesday the upsizing and closing of new secured loan facility that raised US$300 million for the company. Curaleaf said the notes are issued with an interest rate of 13 per cent per annum, payable quarterly in arrears, with a maturity 48 months from closing. The company said the financing will be used to refinance existing debt, satisfy transaction fees and expenses from previously announced deals, fund capital expenditures and for general corporate purposes.

DAILY BUZZ

“It’s all about quality. There’s demand for a quality product.”
-- Organigram CEO Greg Engel tells BNN Bloomberg why the company’s wholesale business was able generate strong sales in the past quarter. 

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