Canadian CANNAINVESTOR Magazine November / December 2019 | Page 209

Zenabis

One of the Canadian cannabis companies that saw its stock price declining throughout the last week of October was that of Zenabis Global (ZENA). Towards the end of October, Zenabis announced that it was going to make a rights offering meant for existing shareholders.

Moreover, the company revealed that it has been given the green light by key insiders as well who own 30% of Zenabis. However, investors did not seem happy at the development and on October 24, the stock declined by nearly 40% on the back of the news.

Aurora Cannabis

Last but not least, Aurora Cannabis (ACB) made a significant announcement in October that saw its stock make some gains. The world’s second-largest cannabis company announced that its industrial-scale cannabis production facility named Aurora Polaris is on the verge of completion.

The company added that it is going to be ready for occupancy by the end of October. It is an important announcement and will further boost the company’s capabilities.