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The cannabis sector traded higher after Constellation Brands made a $245 million investment in a Canadian marijuana producer.

This development caught the attention of almost every mainstream financial media channel and we are favorable on the long-term implications of this investment.

Today, we have highlighted three announcements from Canadian cannabis firms and will keep an eye on how these stocks continue to trade.

Aurora Cannabis Appoints New CIO

After the market closed yesterday, Canadian marijuana producer Aurora Cannabis Inc. (ACB.TO) (ACBFF) appointed Darryl Vleeming as its new Chief Information Officer. We are favorable on this move as Darryl will help Aurora scale up its e-commerce platform, establish systems to manage the vast amount of data it generates, and ensure tight alignment across its domestic and international operations.

Vleeming comes to Aurora with over 20 years of experience in Senior IT leadership, project delivery, and IT strategic planning at publicly traded international corporations, with a specific focus on driving business value. Prior to joining Aurora, he spent eight years, lastly as Vice President, IS and Chief Information Officer, at Capital Power Corporation, a $2.5 billion, TSX listed independent power producer.

Aurora also issued 1,369,072 common shares (at $2.54) and 469,044 common shares (at $2.98) to the vendors of CanvasRx in accordance with CanvasRx achieving certain earn-out payment milestones for the period that ended on September 30th.

Reliq Health Clarifies its Oversubscribed Financing Deal

Reliq Health Technologies Inc. (RHT.V) (RQHTF) provided clarification on its October 17th news release as the company intends to offer a $4 million private placement financing of up 10,000,000 units at $0.40 each.The offering is led by Canaccord Genuity Corp. and Gravitas Securities Inc.

Reliq Health has granted Canaccord and Gravitas an over-allotment option where they can purchase up to an additional 25% of the units sold under the offering. The firms have elected to exercise the option in full and purchase an additional 2,500,000 units for $1,000,000 in gross proceeds. After this exercise, the offering generated $5 million in gross proceeds for Reliq Health.

We are favorable on this financing as it significantly strengthens Reliq’s balance sheet and provides them with capital to execute on new growth opportunities. We remain bullish on Reliq and this is stock investors should keep an eye on.

Namaste Closes $3.6 Million Private Placement

Namaste Technologies (N.CN) (NXTTF) closed its non-brokered private placement for gross proceeds of $3,602,250 (CAD). The company sold 14,409,000 units at $0.25 each and each unit consists of one common share and one common share purchase warrant (can buy one common shares at $0.35 for a period of 24 months).

Namaste intends to use the proceeds to finance construction at Cannmart Inc., to purchase medical cannabis inventory once CannMart receives its distribution license from Health Canada, and for strategic corporate purposes.

CannMart is a late stage applicant for a license to distribute medical cannabis under the ACMPR. Namaste has developed a telemedicine application called Namaste MD which is aimed at providing a fully integrated solution for patients to consult with doctors and to facilitate a smooth process from consultation to prescription. Namaste plans on leveraging its existing database of consumers along with e-commerce expertise to gain market share.

Namaste President and CEO Sean Dollinger said, “We are very happy to have closed this Offering and to have done so at a premium to the trading price. We believe that the success and price of the Offering speak to the level of confidence of our investors in Namaste. The funds raised from the Offering give us the flexibility to complete CannMart’s build-out with cash reserved for inventory purchasing and the opportunity to explore growth in the medical and recreational cannabis market. We would like to thank our investors and participants in the private placement for their support. We are very excited for the future and are looking forward to completing construction at our CannMart facility as soon as possible.”