Uber is expanding its horizons, with plans to allow users to order cannabis on its Uber Eats app.

Next week the app will list cannabis retailer Tokyo Smoke on its marketplace and customers will be able to place orders on the app – but they have to pick it up at their nearest Tokyo Smoke store.

“We will continue to watch regulations and opportunities closely market by market. And as local and federal laws evolve, we will explore opportunities with merchants who operate in other regions,” an Uber spokesperson told Reuters.

It could be a good move for the company, as cannabis and the munchies go hand in hand.

Plus, industry research firm BDS Analytics reckons that cannabis sales in Canada will total $4 billion this year – and are forecast to grow to $6.7 billion in 2026.
 

Montu breaks crowdfunding records 

On our side of the pond, medical cannabis platform Montu – which provides patients with immediate access to highly qualified prescribers from the comfort of their home – has broken equity crowdfunding records.

Montu’s share offer went live at 11am last Tuesday via the Birchal crowdfunding platform, and investors exhausted the maximum before the public offer round.

“Our stellar 12-month growth has come as a result of building a recognised and leading brand that sets the standard in cannabis care,” managing director Christopher Strauch said.

“To have raised a total amount of $5.5 million across both crowdfunding raises and breaking Australian records is a testament to both the success and growth of our company over the past 12 months.

“The business has grown by over 1,000% and reached a $14 million revenue run-rate. This has solidified investors’ confidence in Montu and the future growth to come.”

Proceeds from this equity raise will be used to further invest in its technological infrastructure and grow patient awareness – with the medical cannabis industry in Australia and New Zealand predicted to reach a $1.7 billion market size by 2023.


 

 ASX Winners

Code Company Price % Six Month % Month % Week Market Cap
TSN The Sust Nutri Grp 0.25 -48 -14 19 $ 22,820,000.48
EMD Emyria Limited 0.39 70 63 15 $ 60,057,807.81
WOA Wide Open Agricultur 0.84 16 15 11 $ 84,386,831.76
BOD BOD Australia 0.26 -33 -5 4 $ 27,514,219.20
LV1 Live Verdure Ltd 0.44 96 0 4 $ 18,378,364.40
IRX Inhalerx Limited 0.096 1 -9 3 $ 16,846,695.70
CAU Cronos Australia 0.2 67 21 3 $ 9,725,000.00
WFL Wellfully Limited 0.0895 66 -19 2 $ 21,352,510.43
DTZ Dotz Nano Ltd 0.395 34 -6 1 $ 167,047,806.40
CGB Cann Global Limited 0.0035 -42 -30 0 $ 19,006,460.36
EVE EVE Investments Ltd 0.004 -33 -20 0 $ 15,372,567.56
IHL Incannex Healthcare 0.56 107 58 0 $ 676,775,681.68
EPN Epsilon Healthcare 0.115 -28 -26 0 $ 22,161,299.14
AVE Avecho Biotech Ltd 0.016 -6 -6 0 $ 29,377,864.42
MRG Murray River Grp 0.245 36 0 0 $ 10,808,210.04
SCU Stemcell United Ltd 0.014 -26 0 0 $ 14,606,489.21
MMJ MMJ Group Hlds Ltd 0.067 -14 -8 0 $ 16,096,778.95
PAL Palla Pharma Ltd 0.395 -1 16 -1 $ 63,955,699.39
ALA Arovella Therapeutic 0.041 17 -15 -2 $ 20,679,597.84
LGP Little Green Pharma 0.66 5 -4 -4 $ 120,968,185.59
MDC Medlab Clinical Ltd 0.165 -15 3 -6 $ 58,169,864.07
MXC Mgc Pharmaceuticals 0.045 -12 -10 -6 $ 108,184,313.48
NTI Neurotech Intl 0.066 14 32 -7 $ 47,410,628.57
ECS ECS Botanics Holding 0.0325 -19 -12 -7 $ 37,577,327.51
CAN Cann Group Ltd 0.2875 -35 -7 -7 $ 101,167,805.87
ZLD Zelira Therapeutics 0.037 -20 -12 -8 $ 47,220,570.75
BOT Botanix Pharma Ltd 0.058 -23 -6 -8 $ 57,415,382.37
EXL Elixinol Wellness 0.092 -39 -8 -8 $ 30,011,561.72
ROO Roots Sustainable 0.008 -47 -11 -11 $ 4,715,010.22
AC8 Auscann Grp Hlgs Ltd 0.093 -15 -11 -11 $ 43,173,616.78
AGH Althea Group 0.26 -32 -13 -12 $ 81,232,065.98
EOF Ecofibre Limited 0.635 9 -19 -15 $ 233,816,973.86
IDT IDT Australia Ltd 0.41 37 -27 -15 $ 104,339,173.95
EN1 Engage:Bdr Limited 0.0025 -44 0 -17 $ 7,619,994.64
YPB YPB Group Ltd 0.002 -20 -33 -20 $ 11,861,822.86
RGI Roto-Gro Intl Ltd 0.023 -52 -28 -21 $ 8,222,227.13
CPH Creso Pharma Ltd 0.1 -38 -9 -26 $ 120,811,172.00

Leader of the pot stocks was The Sustainable Nutrition Group (ASX:TSN) – up 19%.

The company recently announced it had partnered with Australian Plant Proteins to develop hemp concentrate and isolates, which would allow TSN to enter the $10.8 billion global plant-based ingredients market with limited capex requirements.

Commercialisation of this new agreement is expected to commence in Q4 FY2022 initially in the Australian and New Zealand markets, and then in global markets.

TSN’s Hemp Isolate is expected to contain between 88% and 92% protein, while maintaining other important nutritional benefits of hemp such as its Omega 6 and 9 profile, magnesium content and other nutritional benefits.

The company says the product’s pale colour, neutral flavour and excellent solubility are critical for broad utilisation across the market.
 

Andrew Forrest invests in Emyria

Emyria (ASX:EMD) jumped 15% after the company announced plans to accelerate drug development with Tattarang private investment group investing $5 million via a share placement at $0.25 per share – and holding around a 7.3% interest in the company on completion.

The Tattarang group is the investment arm of billionaire Andrew Forrest’s family, and the investment comes just months after Gina Rinehart invested $15 million into Little Green Pharma (ASX:LGP).

The company says the funds raised will be used to accelerate synthetic cannabinoid registration programs with the TGA and FDA, and advance Emyria’s novel MDMA-analogue development program with the University of Western Australia.

“Tattarang shares our long-term vision to accelerate the development and registration of medicines that can transform the lives of millions of people around the world living with conditions for which current therapies are either ineffective, cause unwanted side effects or are yet to be created,” MD Dr Michael Winlo said.

“Emyria is the only ASX-listed company that controls patient-treating clinics and a clinical-trial-grade data system and uses these assets to accelerate the development and registration of new drugs, digital technologies and care models.”

Then there was Wide Open Agriculture (ASX:WOA) which rose 11% after Dirty Clean Foods signed an Oat Milk distribution agreement with Woolworths. The oat milk will be carried in around half of the supermarket chain’s Australian stores as of March 2022.
 

BOD Schedule 3 patient recruitment planned in January

BOD Australia (ASX:BOD) and Live Verdure (ASX:LV1) were up 4% off the back of an AGM presentation and AGM Chairman’s letter respectively.

BOD said it expects multiple growth catalysts throughout FY2022, including ethics approval for Schedule 3 (Pharmacist Only) clinical trial for its CBD product in Australia.

This follows recent TGA decision allowing low dose CBD products to be sold over-the-counter by a pharmacist to consumers without a prescription – which BOD says unlocks a market value of around $250 million and an unregulated market valued at around $3.5 billion.

Patient recruitment for the trial is expected to start in January 2022.

Live Verdure is focused on progressing its consumer brands 13 Seeds and 8 Seeds, with Tasmanian hemp as its hero protein and new 8 Seeds general manager Mark Tucker planning to launch the brand online with local and overseas retailers.

And up 3% was Inhalerx Limited (ASX:IRX) after detailing in its September quarterly that work is ongoing with commercial partner, EC Pharma, to develop its Medihale pods to accommodate EC Pharma’s new cannabinoid formulaBons. They’re expected to be launched in the December 2021 quarter.