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Money Will Canadian Cannabis Stocks Shrug Off the U.S. Move Against Legal Pot?

06:06  14 january  2018
06:06  14 january  2018 Source:   fool.com

Aurora signs deal for European joint venture

  Aurora signs deal for European joint venture EDMONTON - Aurora Cannabis Inc. has signed a deal to form a joint venture with European greenhouse vegetable company Alfred Pedersen & Son (APS). Under the deal, Aurora (TSX:ACB) will own a 51 per cent interest in Aurora Nordic Cannabis A/S, based in Odense, Denmark. APS received its license to grow cannabis from Denmark's Medicines Agency effective Jan. 1. The joint venture will focus on the cultivation and sales of cannabis in Denmark, Sweden, Norway, Finland and Iceland.Aurora Nordic plans to build a 93,000-square-metre automated cannabis production facility.

Aurora Cannabis Inc. (TSX:ACB), Aphria Inc. (TSX:APH), and other cannabis stocks were rattled after a hostile move against the industry from the Canadian cannabis stocks retreated sharply on the news. It obtained a licence for production in Denmark that will give it access to other federally legal

Legality of cannabis in the United States. Legal . illegal. legal . against program rules. medical use only. ^ "Vermont Expands State Medi- Pot Law – Legislatures In Connecticut, Rhode Island Also Endorse Medical Cannabis ".

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On January 4, United States attorney general Jeff Sessions rescinded three Obama-era memos that had adopted a hands-off approach to cannabis laws. The move allows federal prosecutors to more effectively mobilize a crackdown on cannabis use. The decision comes after the state of California officially legalized recreational use.

Quotes in the article

TMX Group Ltd

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The road to legalization: a pot expert's story

  The road to legalization: a pot expert's story TORONTO - Even though Ernest Small was the biggest legal grower of legal marijuana in North America back in the 1970s and is the federal government's foremost pot expert, the Canadian researcher is in disbelief that the country is on the cusp of legalizing the drug's recreational use. The principal research scientist for Agriculture and Agri-Food Canada, who was recently named to the Order of Canada last week for his vast body of work, says the atmosphere around marijuana in government and law enforcement circles was "repressive and conservative" for decades."I would never have predicted that we would come to this. ...

The legality of cannabis for medical and recreational use varies by country, in terms of its possession, distribution, and cultivation, and (in regards to medical) how it can be consumed and what medical conditions it can be used for.

Canadians will be able to buy and consume cannabis legally as early as this September. Canada moves a step closer to legalising marijuana. 8 June 2018. Marijuana advocates sceptical about Canada path to legal pot .

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There was a markedly critical response from Congress members from both parties in states where cannabis has been legalized. In the lead up to his 2016 election, Donald Trump had vowed to leave the cannabis issue up to the states. Sessions did not outline specific steps forward, indicating that immediate enforcement of this new strategy is not imminent.

Canadian cannabis stocks retreated sharply on the news. Aurora Cannabis Inc.(TSX:ACB), Aphria Inc.(TSX:APH), and Canopy Growth Corp.(TSX:WEED) all suffered declines over 10% to open the trading day on January 4. However, shares in all three companies have since bounced back. Could U.S. policy deflate Canadian cannabis stocks going forward, or is this a mere blip on the road to legalization in July?

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Geopolitically, Canada ’ s legal pot could further strain relations between Trudeau and his new nemesis, Trump. And stocks in cannabis businesses have been booming on Canadian stock exchanges. Roy Moore Files Million Lawsuit Against Sacha Baron Cohen, Showtime.

Canadian cannabis producers, the darlings of the stock market in 2016 and 2017, are off to a rough start in 2018, with the Canadian Cannabis LP Index down 12.7% year-to-date despite a surge in early January to all-time highs.

Aphria was hit particularly hard, dropping as much as 25% on the day. The stock has since recovered to its previous levels. It closed at $21.99 on January 8 — up 14.77%. Aphria has a number of investment in the U.S. cannabis market, which has been cause for anxiety for some investors.

In October, TMX Group Limited, which owns and operates the Toronto Stock Exchange (TSX), announced that it would review cannabis stocks with a U.S. footprint. Aphria CEO Vic Neufeld was confident early on that his company was in a good position to respond to the review and avoid any concerns over delisting.

In December, Aphria stated it would move to reduce its U.S. exposure in an effort to “purify” its balance sheet. The company has continued to have discussions with TMX Group over the course of its review. As a last resort, Aphria leadership said that it could list Aphria’s U.S. interest as a separate entity on the Canadian Securities Exchange (CSE).

Marijuana will be sold in Saskatchewan by private retailers, government announces

  Marijuana will be sold in Saskatchewan by private retailers, government announces Marijuana will be sold in Saskatchewan by private retailers, government announcesSaskatchewan will allow cannabis to be sold by private retailers.

(Read Also: Legal Weed Market to Triple in 5 Years). While uncertainty prevails in the United States, investors could get a piece of the pot action by investing in Canadian stocks Aurora Cannabis Inc. (OTC: ACBFF) debuted on the Canadian venture stock exchange (TSX) in October 2016.

Although the Cannabis Act (C-45) paving the way to legalization on October 17, 2018 was passed in June 2018, Cannabis in Canada remains illegal for recreational use. Police and prosecution services in all Canadian jurisdictions are currently capable of pursuing criminal charges for cannabis

Other Canadian cannabis companies have avoided the U.S. for now and are instead pivoting towards Europe. Aurora Cannabis recently partnered with the Danish tomato and pepper producer Alfred Pederson and Son to drive production and sales in Europe. The venture will focus on selling cannabis in Scandinavian countries including Sweden, Norway, Denmark, Finland, and Iceland. Aurora followed this up with a $55 million investment in The Green Organic Dutchman for a 17.6% stake.

Canopy responded to the move from the U.S. Department of Justice by reiterating its commitment to conducting its business in jurisdictions in which it will be compliant with federal law. The company has made an aggressive foray into Europe in recent months. It obtained a licence for production in Denmark that will give it access to other federally legal jurisdictions in the European Union.

As it stands, Aphria will be forced to sweat out the ongoing TMX Group review, but the company already has contingency plans that will allow it to avoid delisting. Aurora Cannabis, Canopy, and others will watch and wait, as the U.S. struggles to forge a coherent path forward regarding its cannabis industry.

Saskatchewan Chamber of Commerce says it supports province’s legal pot plan

  Saskatchewan Chamber of Commerce says it supports province’s legal pot plan The Saskatchewan Chamber of Commerce says it likes the provincial government’s private sector-friendly marijuana policy. The chamber says it supports the government’s plan to allow businesses to sell and control the distribution of recreational cannabis when it becomes legal in July.“As the voice of business in the province, the Saskatchewan Chamber of Commerce is encouraged by the provincial government’s announcement to pursue a private sector retail and distribution model for cannabis,” the chamber said in a news release Wednesday.

Move over Betty Crocker: Pot edibles to include anything you can brew, stew, cook or chew. Get the latest updates on cannabis legalization in the country, how provinces and territories will implement legal cannabis in their respective locations, updates on Canadian cannabis stocks and

Multiple charges were laid against Marc Emery and Jodie Emery, owners of Cannabis Culture, a company that franchised pot dispensary shops. "Trudeau says pot will be legal as of Oct. ^ " Canadian Cannabis Stocks Weighed Down By Capital Raises And New Issues".

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