August 21, 2018 / 12:52 PM / a month ago

BUZZ-Marijuana stocks Cronos Group & Canopy Growth jump on provincial supply deals

** U.S.-listed shares of Cronos Group gained 4.6 pct at $7.66 premarket and Canopy Growth rose 3.4 pct at $38.8 and are among the most actively traded U.S. stocks

** Both Canadian cannabis companies secured supply deals for retail distribution across Canada

** CRON has secured supply deals with Ontario Cannabis Retail, BC Liquor Distribution Branch; also secured listings with Nova Scotia Liquor and Prince Edward Island Liquor

** CGC was selected as an approved supplier by Ontario Cannabis Store to supply cannabis products starting Oct. 17 (bit.ly/2Bxx52u)

** Cronos, which is down ~5 pct YTD, had gained ~16 over the past 2 sessions after Corona beer maker Constellation Brands’ $4 bln infusion last week in Canopy Growth

** CGC has jumped more than 50 pct since Aug 14, a day before it received the investment (Reporting by Amy Caren Daniel in Bengaluru)

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