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.


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.


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 andrew.kessel@proactiveinvestors.com 

Follow him on Twitter @andrew_kessel

Quick facts: AgraFlora Organics International Inc.

Price: 0.045 CAD

Market: CSE
Market Cap: $67.09 m

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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...

on 19/5/20

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