logo-loader
viewAgraFlora Organics International Inc.

Buds & Duds: Cannabis stocks show little excitement; AgraFlora jumps on UK drug license

The indices were all flattish as no single stock swung the pendulum either direction

Indoor cannabis facility
AgraFlora subsidiary Farmako Limited received its UK Home Office Controlled Drug License

Cannabis stocks were little changed Thursday, and the major indices reflected a mixed bag.

The North American Marijuana Index, which tracks the top cannabis stocks in the US and Canada, declined 0.8% to 120.7 points. Elsewhere, the Horizons Marijuana Life Sciences Index ETF rose 0.2% to C$9.67, while the OTCQX Cannabis index edged down 0.2% to 488.6 points.

Buds

AgraFlora Organics International Inc (CSE:AGRA) (OTCMKTS:AGFAF) shares jumped after its subsidiary Farmako Limited received its UK Home Office Controlled Drug License.

With the license in hand, Farmako Limited intends to start wholesaling medical cannabis in the UK by mid-year 2020, including importing Bedrocan products from the Netherlands to the UK for patient distribution.

AgraFlora stock climbed 11.1% to C$0.10 in Toronto and nearly 14% to US$0.08 in New York.

Mota Ventures Corp (CSE:MOTA) (OTCMKTS:PEMTF) is up after its subsidiary Ihuana SAS forged a research pact with La Fundacion Universitaria de Ciencias de la Salud (The University Foundation of Health Sciences) in Bogota, Colombia. 

Ihuana and the University will cooperate in working on scientific investigations related to the medical use of cannabis products.

Shares rose 5.5% to $C0.58 on the CSE and 1.2% to US$0.44 on OTC Markets.

Duds

No one cannabis stock dragged down the sector, but a handful of companies lost ground

GrowGeneration Corp (NASDAQ:GRWG) dropped 6.4% to US$4.39, Meridian Bioscience Inc (NASDAQ:VIVO) fell 2% to US$9.58 and General Cannabis Corp (OTCMKTS:CANN) slid 2.6% to US$0.66.

Contact Andrew Kessel at [email protected] 

Follow him on Twitter @andrew_kessel

Quick facts: AgraFlora Organics International Inc.

Price: 0.065 CAD

CSE:AGRA
Market: CSE
Market Cap: $28.4 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of AgraFlora Organics International Inc. named herein, including the promotion by the Company of AgraFlora Organics International Inc. in any...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: AgraFlora Organics receives Health Canada cultivation...

AgraFlora Organics (CSE: AGRA-OTCPK: AGFAF) Chairman and CEO Brandon Boddy joined Steve Darling from Proactive Vancouver with news the company has received a cultivation license from Health Canada for their delta facility. That facility is the 2nd largest in Canada. Boddy telling Proactive...

1 week, 3 days ago

2 min read