Supreme Cannabis delays product rollout to Q4 due to COVID-19 

Toronto-based Supreme Cannabis said the company is pushing back the launch of some of its upcoming products as a result of disruptions caused by the COVID-19 pandemic. The cannabis producer said its whole-flower pre-rolls and Pax pods will now be shipped in Q4, one quarter later than originally expected. Supreme also announced that it has begun shipping medical cannabis products to Israel through its BOL Pharma partnership. 

PharmaCielo shares drop after announcing $5M "best efforts" private placement 

Shares of Toronto-based PharmaCielo plunged on Thursday after the company said it received $5 million from "multiple investors" in a "best efforts" private placement. The placement consisted of special warrants at a price of $0.75 each, which is expected to be exercised around mid-May. The company has also disclosed it is voluntarily ceasing production at its Colombian processing facility until April 13 in accordance with COVID-19 mitigation efforts in the country.   

Controlling stake in Pineapple Express Delivery snapped up by Vancouver extraction company 

A Vancouver-based cannabis extraction company has acquired a controlling stake in Pineapple Express Delivery, Ontario's cannabis delivery provider. World-Class Extractions acquired a $500,000 secured convertible debenture in Pineapple Express, as well as 8.3 million shares of the delivery firm. The deal values Pineapple Express at $5.8 million, according to a statement. Due to heavier-than-expected interest in delivering cannabis straight to consumers' homes, Pineapple Express said it generated $347,800 in revenue last month, generating a gross margin of 25 per cent. 

DAILY BUZZ

40%

-- The number of cannabis users polled by Goldenseed, a California-based brand, that said their pot usage has increased during the ongoing COVID-19 pandemic.