New product formats will be added to Namaste's e-commerce website CannMart.com and offered through provincial cannabis stores
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.
Buds
() (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 () 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.
Duds
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 (), 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.
Contact Angela at [email protected]
Follow her on Twitter @AHarmantas