Info provided by Schaeffer’s Investment Research
Tilray Brands, Inc. (NASDAQ:TLRY) announced the initiation of meeting with regulators on adult-use cannabis legislation being defined in Germany. The German Drug Commission presented their plan for adult-use cannabis legislation that will be part of the first draft of a bill that will be released in next few months. According to TLRY, “As a market leader in Germany and Europe, our highest priority for a successful launch of an adult-use market in Germany is to lead with the highest quality-control standards that are consistent and reliable for consumers and patients. Established quality certifications such as European Good Manufacturing Practice (EU-GMP) already enable manufacturers industry-wide to provide patients and consumers with cannabis of the utmost quality and safety.”
Flora Growth Corp. (NASDAQ:FLGC) wholly-owned subsidiary, Just Brands LLC, acquired nearly all assets for the brand No Cap Hemp Co. without upfront payment. FLGC will pay sellers 10% of gross revenue from Flora Growth’s sale of their products up to a maximum of $2 million. According to Flora Growth, “This transaction will allow Flora to immediately benefit from a profitable, cash flow positive and growing business. This strategic acquisition demonstrates our disciplined capital allocation approach that is consistent with both short-term needs and long-term vision as a leading global cannabis company.” Flora Growth stock has fared even worse than Tilray stock over the past 12 months, down 86% year-over-year. However, FLGC is currently up 42% over the past month and things may be looking up.
H/T:https://www.schaeffersresearch.com
