Cannabis stocks could see higher highs in 2022. For one, Congress is reportedly looking to decriminalize cannabis this spring. In fact, according to The Hill, “The growing bipartisan momentum for cannabis reform shows that Congress is primed for progress in 2022, and we are closer than ever to bringing our cannabis policies and laws in line with the American people,” Reps. Earl Blumenauer (D-Ore.) and Barbara Lee (D-Calif.) wrote in a memo to the Congressional Cannabis Caucus.” Two, according to Technical420.com, “As the probability for federal cannabis reform in the US increases, so has the number of Canadian cannabis companies that have acquired hemp and cannabidiol (CBD) businesses that are likely to benefit from a potential change in regulation.” Three, cannabis M&A could accelerate in 2022, according to MJBizDaily.com, “ thanks to lower interest costs and pressure on larger companies to expand their footprints and boost revenue.” All could be significant for companies such as Lexston Life Sciences Corp. (CSE:LEXT)(OTCQB:LEXTF), Aurora Cannabis (NASDAQ:ACB) (TSX:ACB), Canopy Growth (TSX:WEED)(NASDAQ:CGC), Tilray Inc. (NASDAQ:TLRY)(TSX:TLRY), and OrganiGram Holdings (NASDAQ:OGI)(TSX:OGI).
Look at Lexston Life Sciences Corp. (CSE:LEXT)(OTCQB:LEXTF), For Example
Lexston Life Sciences Corp. just announced that the company’s wholly owned subsidiary, Egret Bioscience Ltd. recently received funding from the Canadian government for their project on Cannabis transformation to develop new breeding techniques using CRISPR-Cas9 technology.
The project, entitled “Screening of Egret’s hemp genotypes for proof of concept tissue culture and transformation method validation“ was initiated by the National Research Council of Canada (NRC) in July 2021 through their Industrial Research Assistance Program (NRC-IRAP). The Government contribution to the research totals over CAD$55,000. The goal of this year-long project is to develop new high essential oil hemp genotypes by manipulating the Cannabis sativa L. genome with the CRISPR gene editing system at targets identified by Egret scientists.
On September 30, 2021, the NRC provided a project report for the initial stages of transformation of Cannabis tissue cultures. The team reported successfully creating cannabis protoplasts (cannabis cell cultures without cell walls) from four of Egret’s flagship essential oil hemp varieties: Hempress, Autopilot, Abacus and Suver Haze. The team also successfully transformed the protoplast with a marker protein, Green Fluorescent Protein (GFP) to validate the methods developed thus far.
“We are tremendously excited to see the progress made by NRC Scientists, led by Dr. Pankaj Bhowmik on four of the five varieties of essential oil hemp that we recently imported from the United States. Our high CBD, high essential oil content germplasm will be transformed into zero THC versions to ensure their compliance with the Canadian Industrial Hemp Regulations and the specification of the international hemp markets which requires hemp flowers to test below 0.3% total THC”, stated Philippe Henry PhD, Chief Science Officer and Director of Lexston.
Lexston intends to leverage the methods developed through this initial research for future technology transfers into other species of interest to the company’s psychedelic pipeline.
Other related developments from around the markets include:
Aurora Cannabis announced the delivery of a cannabis shipment worth approximately C$10 million - the company's largest ever shipment to Israel, and what is believed to be the largest export of medical Cannabis into the Israeli market. Delivered in December, the shipment will be recognized as revenue in Aurora's FY22 Q2 period. The sale builds on the Company's growing presence in Israel, a key market as Aurora continues to strengthen its international medical business. As the leading Canadian licensed producer (LP) in global medical cannabis by revenue, Aurora has strategically focused on international expansion to bolster its diversified business portfolio. The Company also recently entered into a joint venture in The Netherlands to participate in the Controlled Cannabis Supply Chain Experiment, an adult-use pilot program.
Canopy Growth entered into an agreement to divest its subsidiary business, C³ Cannabinoid Compound Company GmbH, to Dermapharm Holding SE, a European pharmaceutical company headquartered in Grünwald, Germany. The C³ business develops and manufactures pharmaceutical products and is comprised of Spectrum Therapeutics GmbH, based in Neumarkt-in-der-Oberpfalz, Germany, THC Pharm GmbH The Health Concept, based in Frankfurt, Germany, and Spectrum Therapeutics Austria GmbH, based in Vienna, Austria.
Tilray Inc. reported financial results for the second fiscal quarter ended November 30, 2021. All financial information in this press release is reported in U.S. dollars, unless otherwise indicated. The Company also announced a new parent name, Tilray Brands, Inc., reflecting the Company’s evolution from a Canadian LP to a global consumer packaged goods company powerhouse with a market leading portfolio of cannabis and lifestyle CPG brands. Irwin D. Simon, Tilray’s Chairman and Chief Executive Officer, stated, “Our second quarter performance reflects notable success building high-quality and highly sought-after cannabis and lifestyle CPG brands which, coupled with our scale, operational excellence and broad global distribution, enabled us to increase sales and maintain profitability despite sector-specific and macro-economic headwinds.”
OrganiGram Holdings announced its results for the first quarter ended November 30, 2021. “Our record-breaking results in the first quarter of Fiscal 2022 are a testament to our successful strategy to create innovative, high-quality products that align with the evolving preferences of the various segments of cannabis consumers,” said Beena Goldenberg. “Our positive outlook for 2022 is further bolstered by the addition of Laurentian’s premium products to our portfolio, with an increased presence in Quebec and the resumption of international sales, which will continue through the year.”
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