Cannabis stocks were flat to end the week across North America.
The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada, creeped 0.8% higher to 109.3 points. Elsewhere, the Horizons Marijuana Life Sciences Index ETF sat at C$8.98, while the OTCQX Cannabis index was at 427 points.
HEXO Corp (TSE:HEXO) (NYSE:HEXO) saw its shares rise on Friday morning after announcing it closed a C$70 million private placement of convertible debentures.
The new capital injection demonstrates that investors are “confident” in the Quebec-based pot producer, HEXO’s CEO Sebastien St-Louis said in a statement Friday.
Its shares gained 3.7% in Toronto at C$2.79 and 2.4% in New York at US$2.11.
After announcing the opening of a new medical marijuana dispensary in Florida, Cansortium Inc (CSE:TIUM.U) (OTCMKTS:CNTMF) shares gained 6.7% on OTC markets at US$0.45 on Friday morning. The company’s shares on the CSE remained flat at C$0.48.
The Supreme Cannabis Company (TSE:FIRE) boosted its executive team on Friday, adding marketing whiz Jackie Poriadjian-Asch to the company’s board of directors. Supreme’s shares gained 1.6% on the news to reach C$0.63 in Toronto and were trading slightly lower over the counter at US$0.47.
Finally, after announcing a new licensing agreement with Phyto Extractions earlier this week, Namaste Technologies Inc (CVE:N) (OTCMKTS:NXTTF) saw a 3% bump on Friday in Toronto at C$0.32 and traded over the counter in the US at US$0.25.
Sugarbud Craft Growers Corp (CVE:SUGR) shares slid into the weekend, down 8.3% in Toronto at C$0.06. After the bell on Thursday, the Calgary-based cultivator said it had entered into a plant genotyping and tissue culture agreement with agricultural technology company Segra Biogenesis Corp.
Calgary’s Sundial Growers Inc (NASDAQ:SNDL) also fell on Friday, down 6% at US$1.97 on no new news.
Contact Angela at firstname.lastname@example.org
Follow her on Twitter @AHarmantas