Rising High: RIV Capital, Cansortium launch MOODS brand in New York

In this week’s “Rising High,” The Fly’s recurring series focused on cannabis and psychedelic stock news, The Fly looks back on a brand launch, a product partnership and a supply agreement.

RIV, CANSORTIUM LAUNCH MOODS BRAND IN NEW YORK: RIV Capital (CNPOF) and Cansortium (CNTMF) announced Thursday that the MOODS cannabis brand is now available in New York. The line of cannabis products is now available at the company’s Etain branded dispensaries, with additional third-party dispensary locations expected as wholesale sales have commenced. MOODS products are formulated with floral terpenes delivering lasting flavor and maximizing effect-driven experiences, ranging from happy and uplifted to sleepy and mellow. Offering four core strains, Miami Vibes, Kingdom Dreams, Golden Hour and Everglade Haze, MOODS offers the following consumption formats: MOODS Mini All-in-One: A compact USB-C rechargeable device capable of holding a full gram of cannabis. MOODS 0.5g Dash All-In-One: A convenient and efficient vaping experience featuring a device operating at 3.5v with a rechargeable design for extended use. MOODS 1g Cartridges: A h1g capacity vape offering.

“We debuted the MOODS Brand at our retail stores in New York to gauge consumer interest and gain feedback, and the launch was met with great success.  In fact, MOODS quickly became our number one selling vape brand in all New York retail stores in which the product was offered by both dollars and volume during the month of September,” said Dave Vautrin, Interim CEO of RIV Capital. “The launch of MOODS was also accretive to our overall monthly vape category units sold, bringing the company’s overall monthly vape sales to a record level. To me, this is an indication of the potential future growth that MOODS can bring to our burgeoning wholesale division.”

TRULIEVE PARTNERS WITH BLACK BUDDHA CANNABIS: Trulieve Cannabis (TCNNF) announced Tuesday a partnership with Black Buddha Cannabis. Products from Black Buddha’s “BLYSS” and “DREAM” lines of premium medical marijuana flower will be available in Trulieve stores throughout Arizona and Pennsylvania starting Friday, October 4. Black Buddha products are curated for a blissful experience by focusing on terpene profiles and enhanced therapeutic effects that cater to a balanced lifestyle.

“We are excited to welcome Black Buddha Cannabis to our product lineup,” said Trulieve’s CEO Kim Rivers. “Roz’s inspiring story and her brand’s dedication to healing through medical marijuana align perfectly with Trulieve’s mission to provide high-quality, purpose-driven products to our customers.”

PHARMALA TO SUPPLY MDMA TO MACLEAN HOSPITAL: PharmAla Biotech (MDXXF) announced Wednesday that it has been contracted as a supplier of MDMA to a clinical trial at Harvard’s Maclean Hospital, a neuroscientific and psychiatric private research hospital.

“As has recently been reported in the press, PharmAla has received numerous clinical trial inquiries and leads from key research organizations,” said Nicholas Kadysh, CEO. “We look forward to improving the lives of patients by providing high-quality MDMA to researchers in the U.S. We’re also exploring mechanisms to pre-position some of our research materials in the US, in order to simplify our supply chain for these US trials.”

AURORA COLLABORATES ON GENOME BC-FUNDED PROJECT: Aurora Cannabis (ACB) announced Wednesday a research grant provided to the University of British Columbia by Genome British Columbia. The project, Genomics-enabled Aroma Breeding in Cannabis, will directly support Aurora’s genetics work. The project, is led by Drs. Jose Celedon, Principal Scientist, Breeding and Genetics at Aurora, and by Joerg Bohlmann, a professor at UBC, and is focused on validating genetic and chemical markers for fruity aroma in cannabis. This genetics research aligns with Aurora’s breeding goals and will enable the company to enhance its breeding program with greater accuracy and efficiency on consumer-focused traits.

“Through this work Aurora will deepen our understanding of cannabis genetics with a focus on aromas, a leading driver of consumer preference that directly impacts the user experience,” said Dr. Celedon. “By collaborating with UBC on this Genome BC-funded project, we are able to fully execute this aroma research without the typical financial constraints, allowing us to continue simultaneous work on additional important breeding traits, such as yield, potency and disease resistance. We are eager to see the outcomes of our work and the impact on the future of cannabis breeding.”

SKYE BIOSCIENCE INITIATED WITH AN OUTPERFORM: Scotiabank initiated coverage of Skye Bioscience (SKYE) on Monday with an Outperform rating and $20 price target. The firm sees “significant potential” in weight loss drug candidate nimacimab, a peripherally restricted modulator of the CB1 receptor. Recent volatility agitated by competitor news flow creates “a very attractive entry point,” the analyst said. The commercial opportunity for novel weight loss drugs “offers one of the largest in the life sciences industry” and there is a “fire hose of new drugs in development,” noted the analyst, who argued that the cannabinoid receptor 1, or CB1, “stands out to us one of the most promising incretin target alternatives.”

CANNABIS/PSYCHEDELIC STOCKS: Publicly-traded companies in the space include Acreage (ACRHF), Ascend Wellness (AAWH), Atai Life Sciences (ATAI), Avant Brands (AVTBF), Ayr Wellness (AYRWF), The Cannabist Company (CBSTF), Cannara Biotech (LOVFF), Canopy Growth (CGC), Cansortium, Chicago Atlantic (REFI), Clearmind (CMND), Clever Leaves (CLVR), Compass Pathways (CMPS), CordovaCann (LVRLF), Cresco Labs (CRLBF), Cronos Group (CRON), Curaleaf (CURLF), CV Sciences (CVSI), Cybin (CYBN), Entourage Health (ETRGF), Enveric Biosciences (ENVB), Flora Growth (FLGC), Trees Corporation (CANN), Greenlane (GNLN), Green Thumb (GTBIF), GrowGeneration (GRWG), Hemp (HEMP), Heritage Cannabis (HERTF), High Tide (HITI), IGC Pharma (IGC), IM Cannabis (IMCC), Innovative Industrial Properties (IIPR), InterCure (INCR), Lowell Farms (LOWLF), Lucy Scientific Discovery (LSDI), MediPharm (MEDIF), MindMed (MNMD), NewLake Capital (NLCP), Numinus (NUMIF), Optimi Health (OPTHF), Organigram (OGI), Planet 13 (PLNHF), Psyence Biomedical (PBM), Red White & Bloom (RWBYF), Relmada Therapeutics (RLMD), Reunion Neuroscience (REUN), Safe Harbor Financial (SHFS), SNDL (SNDL), Stem Holdings (STMH), TerrAscend (TRSSF), Tilray (TLRY), Tryp Therapeutics (TRYPF), Verano (VRNOF), Village Farms (VFF), Vireo Health (VREOF) and 4Front Ventures (FFNTF).