Canopy entered the US market with hemp-derived CBD brand First & Free, which will be sold in the 31 states where CBD is legal.
Bloomberg
- The company made the move as the US FDA issued a statement indicating it believed there were “real risks that need to be considered before taking CBD for any reason.”
FDA - Canopy’s 2.0 products won’t be available for sale in Canada until January, but analysts think the company is ready.
CTV News, Benzinga
Maltese regulators issued a “statement of non-compliance with Good Manufacturing Practice” against Zenabis after an inspection last December at Zenabis’s production site found the company out of compliance with EU GMP standards. The company presented a plan for “corrective and preventive action,” but failed to meet it.
Bloomberg
Aurora CEO Terry Booth bought roughly $1M worth of his company’s stock.
Investing.com
In a marriage of two controversial companies, Namaste Technologies‘ MED platform CannMart inked an exclusive licensing agreement with unlicensed legacy operator Phyto Extractions to use its trademarks on products.
Canadian Manufacturing
- Grower Travis Lane called Phyto “literally the worst actor in the illicit market,” and said they were known for “fake extracts, unpurged garbage, and contaminated product.” Phyto products are still widely sold on illicit mail-order-marijuana (MOM) sites.
Twitter—Travis Lane, Various MOM sites - Namaste has also been a lightning rod for controversy over the last year. After damning short-seller attacks in 2018, the company began 2019 by sacking CEO Sean Dollinger, and announcing it intended to sue him over breaches of his fiduciary duty. They later reached a settlement with Dollinger that allowed him to remain an advisor to the company.
Financial Post, Citron Research, Globe and Mail, Financial Post
