TM editors’ note: This article discusses a penny stock and/or microcap. Such stocks are easily manipulated; do your own careful due diligence.

Last week was a busy week for the Canadian cannabis industry and we do not expect this trend to end anytime soon.

Earnings season is starting to heat up and earlier this morning, leading marijuana producer Organigram Holdings (OGI.V) (OGRMF) reported strong first quarter earnings. Over the coming month, we expect to see other Canadian licensed producers report strong earnings numbers and will monitor this trend closely.

Today, we have highlighted 5 top important company developments reported last week and will monitor how these stocks continue to trade this week. 

Invictus Completes Sale to Canopy Growth

On Friday, Invictus MD (IMH.V) (IVITF) traded 5% higher after announcing the sale of 120 kilograms of dried flower from AB Labs to Canopy Growth (WEED.TO) (TWMJF), putting Invictus MD’s license holders on track for achieving 26,000 kg run-rate production capacity for 2018 with net capacity of 22,150 kilograms to Invictus MD. AB Labs’ products will be used in Canopy’s curated CraftGrow line on Tweed Main Street’s online store.

Invictus also signed the definitive agreement to make its further strategic investment in AB Labs, from its current 33.3% ownership interest to 50%. The finalization of the definitive agreement marks an important milestone for Invictus MD as Canada moves within six months of the expected full adult-use legalization of cannabis. Earlier this month, AB Labs received the amendment to sell dried marijuana under the ACMPR.

The terms of the definitive agreement include a $10 million direct cash investment in AB Labs to be used for the expansion of the existing facility, the acquisition of the land and building at the existing facility from the landlord, and for the acquisition of an adjacent land and building including retrofitting costs towards the existing building on the adjacent property (for a combined production space of approximately 56,000 square feet). Invictus MD will make a $2 million line of credit available to AB Labs if costs come in higher than expected.

Invictus MD also expects its 100% owned subsidiary Acreage Pharms Ltd. to receive its sales license in the first quarter of 2018 as it has already harvested multiple successful crops and product has already been tested. The submission of another license application to Health Canada by AB Ventures Ltd. and AB Ventures’ development permit on the 100 acres of land for the initial Phase 1 construction that is fully funded, signals another key milestone as Invictus MD continues to build out significant kilogram capacity for the expected domestic and international demand.