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Buds & Duds: Cannabis stocks steady; Curaleaf gets a boost thanks to $275 million financing

Cannabis stocks held steady ahead of next week's holidays

Harvest Health & Recreation Inc. -
Movers of the day included Harvest Health & Recreation, Namaste and Aleafia

Cannabis indices held steady on Friday heading into next week’s holiday period.

The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada, was flat at 111.2 points. Elsewhere, the Horizons Marijuana Life Sciences Index ETF sat at C$8.96, while the OTCQX Cannabis index rose 1.3% to 415.8 points.

Buds

Harvest Health & Recreation Inc (CSE:HARV) (OTCMKTS:HRVSF) shot 7% higher on Friday after boosting its executive team with two new appointments.

The US multistate operator added cannabis entrepreneur Scott Atkison as co-executive chairman and investor Daniel Reiner as a special advisor to the board.

Shares of Harvest traded at C$2.96 in Canada on Friday morning and at US$2.26 over the counter.

Curaleaf Holdings Inc (CSE:CURA) (OTCMKTS:CURLF) is also closing the week higher after announcing a new US$275 million senior loan facility with no equity component.

The proceeds will be used to refinance existing debt, satisfy transaction fees and expenses from previously announced acquisitions, fund capital expenditures and for general corporate purposes, Curaleaf said in a statement.

Its shares were up 5.6% in Canada at C$7.33 and 4.5% over the counter at US$5.54.

Namaste Technologies Inc (CVE:N) (OTCMKTS:NXTTF) also rose 11.1% at C$0.30 and 16.6% over the counter at US$0.23 on no new news.

Duds

Not all cannabis stocks were feeling the holiday cheer.

Aleafia Health Inc (TSE:ALEF) (OTCMKTS:ALEAF) fell 5% in the morning before regaining some ground to sit at C$0.58 in Canada and US$0.44 over the counter. There was no news driving the stock's fall. 

Also in the red: Auxly Cannabis Group Inc (CVE:XLY) (OTCMKTS:CBWTF), which sank 3.4% in Toronto at C$0.57 and 2% over the counter at US$0.44, and Pure Global Cannabis Inc (CVE:PURE) (OTCMKTS:PRCNF), which shed 5.9% at C$0.08 and 6.2% over the counter at US$0.06.

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

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