This week Technicorum Holdings announced an upcoming token sale and launch of The CanCoin – a cannabis token designed to solve market friction and monetisation in the European cannabis market and to help build blockchain-based solutions for the legal, fast-growing cannabis industry.

In the states, it looks like cannabis tourism could be on the rise – with a company in Las Vegas is now offering cannabis tours.

And Canadian-listed MediPharm Labs has secured a sweet $466,577 as part of the Australian Government’s $50 million Manufacturing Modernisation Fund.

The fund helps small and medium-sized manufacturing businesses scale up and compete internationally with the company planning to use the money towards $1,866,310 capacity optimisation project at its cannabis extraction facility in Wonthaggi, Victoria.

Staying on our side of the pond, BOD Australia (ASX:BDA) reported a massive 212% increase in medicinal cannabis product sales during FY2021.

The company sold 12,187 products compared to 3,907 in FY2020, retaining its 46% market share of the total Australian market for full-plant high CBD products retained during FY2021.

“We anticipate increased demand for our medicinal cannabis product suite over the coming quarter and beyond,” CEO Jo Patterson said.
 

ASX Small Cap Cannabis Winners

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Following close on the heels of BOD’s killer sales growth was Cronos Australia (ASX:CAU) which rose 9% after revealing it had achieved quarter-on-quarter revenue growth of 208% for 12 months since the launch of its Adaya range of medicinal cannabis products.

Sales in Q4 FY2021 are almost at $600,000 and nearly $1.2 million for the full 2021 financial year.

Up 6% was Medlab Clinical (ASX:MDC) after announcing human ethics approval for Australian sites for its NanaBis Cancer bone pain Phase III trial.

Live Verdure (ASX:LV1) was up 5% after launching its Therajoint TGA registered product which is actually a turmeric capsule – sorry to disappoint.

Creso Pharmaceuticals (ASX:CPH) jumped 4%, reporting a second consecutive quarter of record revenue growth of A$1,715,933 – a 24% increase on the previous quarter (A$1,385,000).

And MMJ Group (ASX:MMJ) was up 2% after announcing its net asset value (before provision for tax) declined 5% in the year ended 30 June 2021 compared to its benchmark index of positive 61%.
 

ASX Small Cap Cannabis Losers

 

The biggest losers were Engage:Bdr (ASX:EN1) who was down 20% on no news,  followed by Cann Global (ASX:CGB) down 8% even after announcing two of its six Canntab products (CBD 12.5mg and CBD 25mg pharmaceutical grade hard pill formulations) have arrived in Australia.

Roto-Gro (ASX:RGI) dropped 5% after announcing it had secured a binding CA$380,000 purchase order from Wolf Island Cannabis Inc.

And Auscann (ASX:AC8) was also down 5% on the news it had entered into an agreement to allow for the supply of pharmaceutical cannabis products for the Tasmanian Department of Health.