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Yes and bought by people who see an this as a value entry point. What's that saying :), Be greedy when others are fearful and be fearful when others are greedy.
Yep. The hawks have all been waiting for a chance to pump comments. Rest and we'll see about resume.
Not a great time to be short this puppy. :)
Big volume for this tiny float.
I got in way too early as well. I still feel good about it.
The sp is certainly weathering the capital raise news much better than the last time. Feels good.
No predictions since the odds of being correct are pretty small, but take the market cap now 27 million and divide the future market cap you expect by 27 million. Multiply that by the current share price and you have a ball park price prediction. You can also overlay that guess on technical data for historical prices for resistance and support. For any period of euphoria or panic, I have typically seen market caps (in any sector) temporarily go way above or way below my guesses. Of course, I am hoping for way above here.
Nice move on nice volume so far today.
Nice news on OGI/BAT is driving today. Glad I'm still holding.
https://www.benzinga.com/markets/cannabis/23/11/35617810/69b-tobacco-giant-supports-cannabis-with-91m-investment-in-toronto-weed-producer
What Happened
Subject to the receipt of certain regulatory approvals, approval from Organigram’s shareholders and other conditions, BAT will subscribe for 38,679,525 shares for CA$3.2203 per share, for gross proceeds of CA$124.6 million across three tranches.
The majority of the CA$83.1 million will be used by Organigram to create a strategic investment pool, named Jupiter. The remainder of CA$41.5 million of the investment will be used for general corporate purposes.
LEXX might need to cool of the RSI a bit, but it also seems like any good news would throw it deep into overbought again.
And it's tipping up on a red day for everything else. More evidence :)
One possible outcome...
https://www.investopedia.com/terms/t/triplebottom.asp
I thought it might rest for a bit on the white hot RSI, but no, kaboom. lol
Already rolled over the OS twice now. Nothing like a low float stock. :)
A lot of volume considering the OS. A whole lot.
Possible silver linings:
- Canadian unchecked short sellers need to go through the NASDAQ now.
- Regulatory blockages from listing Canadian and doing business with a US company dealing in federally illegal MJ are probably gone.
I was just looking at that bubba. Premarket is impressive.
https://www.nasdaq.com/market-activity/stocks/ogi/pre-market
I agree on the Congress part. This take off feels stronger than the initial Canadian speculation. All we need now is a few big partner sector deals to pop in anywhere over the next couple months to fuel it beyond rational.
Ride the US legalization wave and like it.
Sure feels like it. There has been a undertone in the sector for a few weeks now.
haha no kidding at +35% and 1/2 the share population traded.
It's across my MJ holdings (even though LEXX does call itself MJ anymore).
Seems to be a 1-2 delayed reaction to https://www.forbes.com/sites/chrisroberts/2021/02/01/top-senate-democrats-well-legalize-marijuana/?sh=770e67aa215e
Feels like the old days when Canada was legalizing. :)
6 million volume and a reminder
https://www.forbes.com/sites/tomaspray/2014/01/11/volume-always-precedes-price/
+16% on 5 million volume. Not too shabby.
I had the same gut reaction. Shed the oppression of schedule 1.
Some good news out.
https://www.stockwatch.com/News/Item?bid=Z-C:FIRE-2988303&symbol=FIRE®ion=C
TORONTO, Nov. 12, 2020 /CNW/ - The Supreme Cannabis Company, Inc. ("Supreme Cannabis" or the "Company") (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) today announced that the Company has entered into a supply agreement with Medical Cannabis by Shoppers Inc., a subsidiary of Shoppers Drug Mart Inc.
Under the terms of the supply agreement with Medical Cannabis by Shoppers Inc., the Company will offer Truverra-branded medical cannabis products through the Medical Cannabis by Shoppers™ online sales platform accessible to patients across Canada.
"This is an important development that establishes Truverra as a valuable medical cannabis brand and provides further diversification of our revenue," said Beena Goldenberg, President and CEO of Supreme Cannabis. "We are particularly pleased to introduce Truverra to Canadian patients, who will be able to order dried flower, pre-rolls and full-spectrum CBD oil. Included in our offering will be our Jean Guy strain, which is a tribute to the legendary variety offered by the Montreal Compassion Club. Also, through the Shoppers portal, patients can be assured of expert customer service from a trusted brand."
The Medical Cannabis by Shoppers online platform is a convenient and trusted source of quality medical cannabis, providing patients with single-source access to a broad range of products. Through their national online platform, the Medical Cannabis by Shoppers business connects patients with cannabis products that meet the highest quality and safety standards and provides guidance and support via a dedicated team of cannabis-trained advisors and Pharmacists.
Feels a bit like the beginning of something real here.
Interesting day for a dip with a patent granted.
https://www.stockwatch.com/News/Item?bid=Z-C:LXX-2965789&symbol=LXX®ion=C
Lexaria receives DehydraTech patent in U.S.
2020-09-22 07:15 ET - News Release
An anonymous director reports
LEXARIA BIOSCIENCE CONTINUES TO GROW ITS PATENT PORTFOLIO
Lexaria Bioscience Corp. has received another new granted patent in the United States.
Lexaria has been granted U.S. patent No. 10,756,180 pursuant to the notice of allowance it received from the U.S. Patent and Trademark Office for patent application No. 16/497,920 previously announced on April 23, 2020.
This new patent provides patent claims that protect the use of Lexaria's DehydraTech technology together with cannabinoids, nicotine, non-steroidal anti-inflammatory drugs, or vitamins in mix-and-serve beverage formats. The patent is entitled "Food and Beverage Compositions Infused With Lipophilic Active Agents and Methods of Use Thereof." This signifies another addition to Lexaria's first patent family, under which nine U.S. patents have now been granted.
Lexaria has also responded to patent office queries in Europe, India, Mexico, Australia, the United States, Japan and Canada in recent weeks and, although the company does not expect all its applications to be successful, it is optimistic of additional patent grants in some of these locations soon.
Lexaria currently has 17 granted patents, with nine granted in the U.S. and eight in Australia, along with roughly 60 patent applications pending throughout the world. The granted patents cover delivery of cannabinoids, NSAIDs, nicotine and fat-soluble vitamins. Patents are pending for the delivery of anti-viral drugs, human hormones such as testosterone and estrogen, phosphodiesterase inhibitors, and more.
Ted's comments from this week:
Lexaria Bioscience (CSE: LXX) (OTCQX: LXRP). However, LXRP continues to establish the efficacy of their technology. Between now and October 8, 2020, Altria must make a decision on Phase 2 of their joint research project and for LXRP, it’s a win-win. If Altria proceeds, it’s a win and if they don’t move forward, it’s also a win. I anticipate explosive stock performance at some point in the near term.
That's said, I feel Altria not continuing is negative from the less uncertainty standpoint and positive from the no exclusivity standpoint, so a bit of both. I can't imagine a buying spree if they bow out, but I can if they stay in. Hardly a make or break date.
Felt the the final wash out over the past few days. Typical of a summer cycle end.
News Out
https://www.supreme.ca/supreme-cannabis-announces-agreement-to-partially-convert-and-amend-debentures?utm_source=The+Supreme+Cannabis+Company%2C+Inc.&utm_campaign=d6bf51b811-EMAIL_CAMPAIGN_2020_08_04_12_00&utm_medium=email&utm_term=0_641857a19c-d6bf51b811-22612321&mc_cid=d6bf51b811&mc_eid=6cfa5bebab
Supreme Cannabis Announces Agreement to Partially Convert and Amend Debentures
Supreme Cannabis reduces principal amount to $36.5 million from $100.0 million
Extends maturity date on $36.5 million of remaining Debentures to September 1, 2025 and reduces conversion price to $0.285
Reduces annual interest payments by over 50%
TORONTO, August 4, 2020 – The Supreme Cannabis Company, Inc. (“Supreme Cannabis” or the “Company”) (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) today announced that the requisite majority holders (the “Debenture Holders”) of the Company’s outstanding 6.0% senior unsecured convertible debentures (the “Debentures”) issued in October 2018 have agreed to amend the terms of the Debentures.
“We are pleased to have reached an agreement that significantly reduces the Company’s debt obligations and amends the Debentures in advance of their original maturity in October 2021,” said Beena Goldenberg, President and CEO of Supreme Cannabis. “This transaction offers holders of the Debentures with an improved conversion rate that is aligned with current market conditions and affords our company additional flexibility and runway to accelerate revenue growth and achieve cost optimization as we continue on our path to near-term profitability.”
The Company has reduced the principal amount of the Debentures by $63.5 million in exchange for the issuance of 116.6 million common shares, thereby converting debt to equity at a premium to the current share price. Holders of the Debentures resident in eligible jurisdictions will receive half of the common shares as free-trading shares, and the other half of the common shares will be subject to a four-month restricted period. Holders of the Debentures resident in other jurisdictions will be entitled to receive shares subject to restricted periods, subject to applicable securities laws.
The total principal amount of convertible Debentures outstanding will be reduced from $100.0 million to $36.5 million and the maturity date will be extended from October 19, 2021 to September 1, 2025 unless repurchased, redeemed or converted prior to maturity. The remaining Debentures will accrete at a rate of 11.06% per annum, compounding on a semi-annual basis commencing on September 1, 2020, and ending on September 1, 2023. The accreted portion of the principal is payable in cash but does not bear cash interest and is not convertible into the Company’s common shares. The accreted portion of the principal will be evidenced by a separate series of debentures, which will not be listed on the Toronto Stock Exchange.
The conversion price of the remaining convertible Debentures outstanding will be reduced from $2.45 per share to $0.285 per share and annual interest payments will be reduced to $2.9 million from $6.0 million. The Company will have the right to force the conversion of the remaining principal amount of the convertible Debentures outstanding at the Conversion Price on not less than 30 days’ notice if the daily volume weighted average trading price of the Company’s common shares is greater than $0.45 for any 10 consecutive trading days. The principal amount of the remaining Debentures will amortize at 1.0% per month over the 24 months prior to maturity.
The amendments are expected to become effective no later than September 1, 2020. The Company will provide additional details concerning the applicable record dates and effective dates once all required approvals have been received and definitive documentation has been completed.
The amendments to the terms of the Debentures remain subject to the approval of the Toronto Stock Exchange and standard closing conditions.
Even if they do, consider how long it will take them to finish the facility and start selling product. Clowns.
Dilution? Is that a real comment?
Considering they had room malfunction issues last Q, they really should show improvement Q over Q. If they don't, they deserve any sp beating.
Article:"TSX and S&P Launch New Cannabis Indices, Here’s the Full List of Constituents From Each Index"
https://www.thecannabisinvestor.ca/tsx-and-s-p-launch-new-cannabis-indices-heres-the-full-list-of-constituents-from-each-index/
For starters, let's hope they crush the low bar set by last quarter revenue.
News:"Supreme Cannabis 2020, A Simple Approach On The Path To Profitability"
https://www.stockwatch.com/News/Item?bid=Z-C%3aFIRE-2857889&symbol=FIRE®ion=C
News:"Edison La Strada Selected Favourite THC Flower in Canada"
https://www.stockwatch.com/News/Item?bid=Z-C%3aOGI-2857836&symbol=OGI®ion=C
"The Company’s Edison Cannabis Co. awards and acknowledgments include:
- Top THC-Dominant Flower – La Strada
- Top Pre-Roll – El Dorado Pre-Roll
- Top THC Oil – Edison Sativa
- Top CBD Oil – Edison CBD
- Top Licensed Producer, #2 spot – The Edison Cannabis Co.
- Top Balanced Oil, #3 spot – Edison 5:5
- Top Pre-Roll, #4 spot – Edison La Strada
- Top THC-Dominant Flower, #7 spot – Rio Bravo
- Top THC-Dominant Flower, #8 spot – Lola Montes"