by Mike Regan | Oct 26, 2022 | Company Analysis, Extract, Macro
Canopy Growth announced a series deals and new share structures to enable Canopy to acquire its US cannabis targets (Wana, Jetty, Acreage, and possibly some of Terrascend) by September 2023. Canopy stock is up 43% on the news and Constellation is up 4%. What are the...
by Mike Regan | Oct 7, 2022 | Comp Table & Market Commentary, Data & Analysis, Extract, Macro, Thematic Research
With just a month ahead of the midterm elections, Biden released an official statement on marijuana reform calling for pardons and rescheduling of marijuana (see press & proclamation). The concluding statement I think is more important than the actual details as...
by Mike Regan | Sep 23, 2022 | Comp Table & Market Commentary, Company Analysis, Data & Analysis, Extract, Macro, Thematic Research
As valuations and liquidity have declined since the first quarter 2021 (when the industry raised over $3 billion in equity), debt has become a go-to source of financing. What is the leverage in cannabis? It may be higher than you think. There are also debates on if...
by Mike Regan | Jun 30, 2022 | Company Analysis, Extract
Canopy Growth (CGC) is issuing between 56.7-78.4 million shares to retire C$255.4 million of its C$600 million convertible note due 2023. The conversion price for this redemption works out to somewhere between US$2.50-3.50, and will be based on the 10 day average...
by Mike Regan | Jun 2, 2022 | Comp Table & Market Commentary, Company Analysis, Extract, Free, In the News, Macro, Podcast, Regional Data
Thanks to Rena Sherbill of Seeking Alpha’s Cannabis Investing Podcast for interviewing Mike and thanks to Colin Ferrian for joining our chat and getting the band back together for a one-off conversation. To quote the summary and transcript (available here) of...
by Mike Regan | Apr 27, 2022 | Company Analysis, Extract
On April 20-21, Benzinga hosted their Cannabis Capital Conference in Miami. It was quite well attended with maybe ~1500 people, and standing room only for Boris Jordan’s first presentation of the day. Benzinga has now posted videos of most presentations here Premium...
