Cannabis stocks perked up on Monday after last week’s run of losses.
The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada, gained 2.4% at 115.4 points. Elsewhere, the Horizons Marijuana Life Sciences Index ETF jumped 3.6% at C$8.55, while the OTCQX Cannabis index rose 2% to 455.4 points.
Namaste Technologies Inc (CVE:N) (OTCMKTS:NXTTF) soared on Monday after it announced that Choklat Inc, a craft chocolate manufacturer and chocolatier in which Namaste holds a 49% equity, has received a processing license from Health Canada to produce a line of chocolate bars, drink mixes and infused sugar.
New product formats will be added to Namaste's e-commerce website CannMart.com and offered through provincial cannabis stores in authorized markets.
Investors welcomed the tasty news, pushing up Namaste's stock 16.4% to US$0.30 on the OTC markets in New York and 13% to C$0.39 in Canada.
Canadian firm TerrAscend Corp (CSE:TER) also gained after it closed an upsized US$33.5 million private placement to fast track its acquisition of a cultivation and processing facility in New Jersey. TerrAscend shares rose 4.4% in Canada at C$2.83 and 4.8% over the counter at US$2.20.
Aurora Cannabis Inc (TSE:ACB) (NYSE:ACB) continued to slide Monday after Friday’s analyst downgrades. Shares slipped nearly 2% in Toronto at C$2.11 and 1.2% in New York at US$1.63.
Also falling was Benchmark Botanics Inc (CSE:BBT), which saw shares sink 14.6% at C$0.35 on no new news. The Canadian company received its second cultivation license for its British Columbia facility in December.
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