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:   The Motley Fool

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  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.

Aurora Cannabis Inc. (TSX:ACB), Aphria Inc. (TSX:APH), and other cannabis stocks were rattled after a hostile move against the industry from the U . S . Department. Could U . S . policy deflate Canadian cannabis stocks going forward, or is this a mere blip on the road to legalization in July?

U . S . pot industry frets, then shrugs off new Trump policy that brought confusion to legalization. U . S . pot enforcement policy a lift for Canadian cannabis industry: experts. Armina Ligaya, The Canadian Press Published Thursday, January 4, 2018 6:17PM EST TORONTO -- A move by the U . S . attorney

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On January 4, United States attorney general Jeff Sessions rescinded three Obama-era memos that had adopted a hands-off approach to cannabis laws.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.

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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.

It was another great year for Canadian cannabis stocks as the LTB Marijuana Composite Index recorded a return of 145.6%, above the three year average of 115.2%. In 2017, I expect another positive year fueled by the preparation and introduction of legislation that will make Canada the first

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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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Cannabis Becomes Legal in Massachusetts on Thursday, December 15th.

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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).

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. ...

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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.

Quebec landlords push ban on smoking pot inside apartments

  Quebec landlords push ban on smoking pot inside apartments Landlords in Quebec are taking steps to ensure their rental properties remain free of pot smoke, even though the drug will be legal in Canada come July 1st. Under Quebec's proposed marijuana law , residents will be allowed to use marijuana recreationally in their homes but won't be permitted to grow cannabis for personal use. Yet some landlords have already sent notices to tenants informing them they won't be allowed to smoke weed in their apartments.

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Aphria buying Broken Coast Cannabis .
LEAMINGTON, Ont. - Licensed marijuana producer Aphria Inc. has signed a deal to buy Broken Coast Cannabis Inc., a cannabis producer on Vancouver Island, in a transaction it valued at $230 million in cash and stock. Under the agreement, Aphria (TSX:APH) will pay up to $10 million in cash with the remainder in shares based on a deemed price of $15.09 per share. Each of the three co-founders of Broken Coast are expected to remain with the company. 0000

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