Halo Collective announces management cease trade order
Halo Collective has not met its filing deadline for its audited annual financial statements, accompanying management’s discussion and analysis, and related CEO and CFO certificates for the financial year ended December 31, 2022, reports Benzinga.
As this is required under applicable Canadian securities laws, a management cease trade order has been granted by the Ontario Securities Commission (the OSC).
The publication notes that Halo Collective’s CEO and CFO will not be able to trade the Corporation’s common shares until the Issuer Statements have been filed, disclosure requirements have been satisfied and the MCTO has been revoked by the OSC.
The Corporation expects to have the audit of the Issuer Statements completed no later than April 30, 2023.
TORONTO STOCK EXCHANGE
Will TerrAscend be the next cannabis company listed on the TSX?
TerrAscend is seeking a primary listing on the Toronto Stock Exchange (TSX). What are the goals behind these plans? And why isn’t TerrAscend going to the larger U.S. exchanges like the NYSE or NASDAQ?, asks Born2Invest.
The company’s board has addressed how the TSX might promote the company’s financial health in the future by opening the door to institutional investors, stating: “We believe that listing TerrAscend stock on the TSX will make it more accessible to a broader range of institutional investors looking for opportunities with leading cannabis operators in some of the best markets in the world.”
The publication highlights that TerrAschend’s plans are not an isolated case, with more cannabis companies becoming interested in an initial or secondary listing on the TSX.
Oregon cannabis cultivators cope with price slump amid boom-bust cycle
MJ Biz Daily has revealed that median wholesale cannabis prices in Oregon were hovering near $600 per pound on March 1, down from a peak of more than $1,800 in 2017, according to Oregon Liquor and Cannabis Commission (OLCC) data.
The publication explores the issues in Oregon that may be contributing to the problem, including:
- Wholesale prices
- A boom-bust cycle
- Retail prices
- License moratorium
The publication notes that prices could rise again as cultivators cut back or go out of business and production dwindles.
Will Perry, CEO of cultivator Magic Hour Cannabis in Boring, Oregon, told the publication that the problem is linked to the state having too many cultivators and not enough customers, while the OLCC’s supply-demand report says a decrease in Oregon’s 2022 cannabis harvest heralds “a self-correction of the market that improves its position heading into 2023.”