💸 High Impact

Canopy Growth To Execute CEO Search

The What - Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC) announced today that CEO David Klein will be retiring at the end of the company’s fiscal year on March 31, 2025. Until a successor is named, Klein will continue in his role, focusing on advancing Canopy Growth’s strategic objectives, including profitability, and ensuring a smooth transition for the incoming CEO. The Board has initiated a comprehensive search process to identify a candidate with the skills and experience needed to lead the company into its next phase of growth.

Klein, who joined Canopy Growth in January 2020, has been pivotal in transforming the company into a leaner, more focused organization. Under his leadership, Canopy Growth adopted an asset-light model in Canada and international markets, including Germany, and launched Canopy USA, giving shareholders unique exposure to the U.S. cannabis market ahead of federal legalization. His tenure is marked by the recent first-quarter results for fiscal year 2025, which showed a 67% increase in gross profit year-over-year and a consolidated gross margin of 35%, reflecting the company’s improved financial position.

Klein expressed his gratitude to the Canopy Growth team and shareholders, emphasizing his commitment to driving the company toward profitability in his remaining months. He stated that his experience at Canopy Growth has reinforced his belief in the power of cannabis to improve lives and that he is confident in the company’s future.

David Lazzarato, Chairman of the Board, praised Klein’s leadership, noting his instrumental role in the company’s transformation and the establishment of Canopy USA. The Board remains committed to appointing a new CEO who will continue to drive Canopy Growth’s ambitious vision, ensuring that the company remains a leader in the global cannabis market.

This leadership transition comes at a crucial time for Canopy Growth as it continues to strengthen its position in the competitive cannabis industry.

📈 Dog Walkers

Medical Marijuana Has Arrived In Ukraine

Medical marijuana legalization has officially taken effect in Ukraine, marking a significant policy shift aimed at aiding soldiers and patients suffering from severe illnesses and PTSD due to the ongoing conflict with Russia. The new law, enacted after overcoming political opposition, removes cannabis from the list of particularly dangerous substances and allows its regulated use under strict licensing conditions. The Ministry of Health will oversee the distribution, while the Agrarian Policy Ministry will manage cultivation. Initial access to medical cannabis will rely on imports, with domestic cultivation to follow. This legislation is seen as a crucial step in addressing both physical and mental health needs in the war-torn country.

JD Vance Needs A Lesson In Cannabis

Sen. JD Vance (R-OH), Donald Trump’s vice presidential pick, claimed at a recent campaign event that “marijuana bags” are being laced with fentanyl, posing a fatal risk to youths, including his own children, due to Biden administration’s border policies. Despite the widely contested nature of such claims, Vance expressed concern over the possibility of his children experimenting with substances like marijuana, only to face potentially lethal consequences. Advocates argue that such risks highlight the need for a regulated cannabis market with stringent testing, but Vance remains opposed to cannabis legalization, emphasizing his fears over contamination and the safety of American youth.

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This Is Why We Can’t Have Nice Things

Michigan's Cannabis Regulatory Agency is targeting One Love Labs for allegedly importing over 110 pounds of marijuana from Oregon, disguised as hemp. A routine inspection revealed that the "hemp" contained 86.49% THC—far exceeding the 0.3% legal limit. The lab, apparently not content with one violation, allegedly shipped the high-THC product back to Oregon, potentially breaching federal drug trafficking laws. The state is now considering fines and license revocations for One Love, a company run by industry insiders with notable family and business ties. This marks Michigan's ongoing crackdown on illegal cannabis imports, aiming to weed out bad actors in the market.

🗞️ The News

AUXLY ACHIEVES NEW REVENUE AND PROFITABILITY RECORDS IN Q2 2024 AND TOPS CHARTS IN ALL-IN-ONE VAPE SALES

California Governor’s Plan To Restrict Hemp-Derived Cannabinoids Appears To Be Dead For The Year

Legalizing Marijuana Doesn’t Increase Stimulant Prescriptions—And May Even Lower Rates, Study Finds

Rubicon Organics Reports Q2 2024 Financial Results

Marijuana MSOs set up high-risk fight with IRS over 280E of tax code

📺 YouTube

Which of These Five Small Cap Stocks Would We Buy? | TDR Small Cap Sunday

What we covered:

✅ On our latest TDR Small Cap Sunday Podcast, we provide research for five small-cap stocks:

• Bitcoin Depot (NASDAQ:BTM) from Atlanta Georgia. It is not a miner but rather a service provider in the crypto space with a unique business model.

• Avante Logixx (TSX-V:XX) is a private security company for affluent families that is based in Toronto, Canada.

• Ayurcanna Holdings (CSE:AYUR, OTC:AYURF) is a Toronto-based multi-provincial integrated cannabis producer. It is another Canadian find for the show.

• Beyond Meat (NASDAQ: BYND) the former vegan darling that had a $14.7B market cap is now approaching Microcap status, is this a great sale or a trap?

• Aurora Spine Corporation (TSXV:ASG, OTC:ASAPF) is a from the San Diego area and focused on spin technology that improves spinal surgery outcomes.