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The Week In Cannabis: Mixed Stock Performance Driven By Mixed Bag Of News

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A week with mixed performance among cannabis stocks came with a wide array of news.

Canopy Growth Corp. (NYSE: CGC) CFO Mike Lee joined the board of directors of Canopy Rivers Inc. (TSX: RIV) (OTC: CNPOF). Prior to Canopy Growth, Lee served as the company’s vice president of finance. Before that, he spent more than five years working at beer and spirits manufacturer Constellation Brands, Inc. (NYSE: STZ).

A study by Oasis Intelligence suggested 76% of the 20,000 cannabis consumers polled support the removal of felony records for cannabis offenses.

On the flip side, Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB) confirmed co-founder Steve Dobler will no longer serve as the company’s president and director effective June 30.

Perrigo Company PLC (NYSE: PRGO), one of the world’s largest producers of over-the-counter self-care products, is entering the CBD business. Perrigo will acquire an equity stake of roughly 20% in Kazmira for $50 million.

A total of $15 million will be paid upon the closing of the transaction, with the balance due within an 18-month period.

The company said the move will be enabled by a strategic minority investment and long-term supply deal with hemp-based CBD producer Kazmira LLC.

On Monday, Canadian CBD extraction company Neptune Wellness Solutions Inc. (NASDAQ: NEPT) (TSX: NEPT) launched an electronic device that monitors the oxygen saturation levels and pulse rate of patients. The company claims that its new pulse oximeter — developed…

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Source: https://mmpconnect.com/the-week-in-cannabis-mixed-stock-performance-driven-by-mixed-bag-of-news/

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