Stockhead Has The Numbers On Aussie Canna Companies Nice To See They Don’t Drink The Kool Aid

Stockhead Has The Numbers On Aussie Canna Companies Nice To See They Don’t Drink The Kool Aid

They write and nice to note no bullshit from them

Keeping up with the companies

Cann Group (ASX:CAN) is notorious for saying little but this week broke its silence: the Melbourne airport site — which it’s been planning on for about a year — isn’t working.

It’s going to Mildura instead along with its five-year offtake agreement with shareholder Aurora Cannabis.

Cann CEO Peter Crock told Stockhead his company had “run into headwinds” with the airport site and moving north “gets us back on track”.

“We are still targeting getting plants into the facility by the end of this calendar year, start the ramp-up process, bring cultivation online ahead of the facility being fully commissioned by the third quarter of 2020.”

Cronos Australia’s $200m IPO has been put on hold as it has some questions to answer from the ASX around distribution agreements.

Vivid Technology (ASX:VIV) says it’s in talks with people who might want to buy its intelligent lighting control system for growing cannabis.

Last year Dr Trevor Garnett, a director at Adelaide university’s Plant Accelerator, told Stockheadthat lights themselves have been optimised over the years for growing pot, as illegal growers have created a market for globes that give off marijuana’s preferred light wavelength.

Affinity Energy (ASX:AEB) is still suspended as it tries to cobble together some cash for its latest venture, a Maltese cannabis facility as the last two — algae biofuel and nutraceuticals — are to show many signs of viable life.

Bod (ASX:BDA) has started selling its marijuana-based nutraceuticals in Europe, and Zelda (ASX:ZLD) is going to America after signing a nifty deal with a Philadelphia pharma company.

Althea (ASX:AGH) has lost a very involved board member from major shareholder Aphria, as Gregg Battersby has stepped down. He will likely be replaced by Aphria’s president, Jakob Ripshtein.

Croplogic (ASX:CLI) has signed a lease over land in Oregon that, it says, can produce hemp crops worth between $US6.3m and $US15.2m a harvest. It hasn’t said what size its first crop, due in September, will come in at.

And eSense (ASX:ESE) is in trouble again. It has secured $5000 worth of sales to the UK, but is being hauled over the coals for not telling the market that a director’s performance rights expired in February — the same ones at the heart of this controversy.

Cann Global (ASX:CGB), formerly known as Queensland Bauxite, is yet to return to the market after being suspended on July 28.

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