Aleafia Health to start medical cannabis delivery next week, planning to begin outdoor cultivation in May

Toronto-based Aleafia Health said Friday it will launch a delivery service for its medical cannabis patients next week, while shifting its clinical services to remote access. The company also said it plans to begin outdoor cultivation sometime in May. The company has about 86 acres of land available for potential harvest, subject to regulatory approval. Aleafia also said it has begun operations at its facility in Ontario’s Niagara region, which is currently growing the starter plants that will soon be planted outdoors once the weather gets warmer.

Eve & Co. books $4.8M inventory writedown last year, loses $5.7M

Strathroy, Ont.-based cannabis producer Eve & Co. Inc. reported full-year results late Thursday, generating $3.7 million in revenue, while writing down about $4.8 million in inventory and reporting a $5.7 million loss in the year. According to security filings, Eve & Co. has $19.5 million in contractual obligations including loans and promissory notes, as of the end of December. The company reported it has about $7.5 million in cash.

Wayland Group set to sell assets to Austrian family holding company for $12.4M

Wayland Group, which is under creditor protection, is set to be sold to Ring International Holding for $12.4 million, the company said in a statement. The purchase, which needs to be approved by an Ontario court on Friday, will likely mark the end for the beleaguered cannabis company, which suffered the ignominy of being the first pot company to file for creditor protection. It also encountered the ire of regulators for insider trading under its former corporate name, Maricann. If approved, the purchase would be the first cannabis investment for Ring International, an Austrian-based family holding company.



DAILY BUZZ



$6.38



-- The price of a gram of cannabis in Canada, down 1.3 per cent from the prior week, according to the Cannabis Benchmark’s Canada Cannabis Spot Index​​. This equates to US$2,067 per pound at current exchange rates.



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