Yahoo Finance 3 Canadian Marijuana Stocks Continuing to Trade Higher in September
CORAL GABLES, FL / ACCESSWIRE / September 11, 2018 / Canadian marijuana stocks continue to lead the sector as the October deadline looms. In roughly 1 month Canada will begin legal sale of recreational marijuana across the country but this is just the beginning for the country.
The move by Canada effectively makes the country the first G7 nation to legalize recreational cannabis use and further opens opportunities for companies in Canada to export marijuana as well. A number of companies are focusing on mergers and acquisitions to obtain a foothold in the Canadian marijuana industry all while larger organizations are expanding their sales footprint.
Integrated Cannabis Company (ICNAF) (ICAN) recently finalized the details of a long awaited acquisition and has now successfully acquired all of the issued and outstanding shares of 1127466 B.C. Ltd., which holds, through a wholly-owned subsidiary, a world-wide, exclusive license for X-SPRAYS™. This brand is built around a "life-enhancement" product line, which includes oral sprays.
The X-SPRAYS™ product line is packaged in precise, metered dose and convenient spray tubes including a child-resistant version, both of which easily fit into a purse or pocket and are ideal for travel. The container protects the liquid from light and air, ensuring the quality and shelf life of the ingredients.
"We are currently in the late stages of reviewing a short list of potential acquisition opportunities that would broaden our product offering from the existing X-SPRAYS™ line to potentially licensed Cannabis formulations in several US States," said Mr. John Knapp, CEO of Integrated Cannabis Company.
ForMore Information On Integrated Cannabis Company, Click Here
Auxly Cannabis Group Inc. (CBWTF) (XLY.V) along with Lotus Ventures (J) announced the closing of an additional investment by Auxly to partially fund the completion of Lotus' 22,500 square foot Facility in Armstrong, British Columbia Lotus is a late stage applicant pursuant to the Access to Cannabis for Medical PurposesRegulations and anticipates completing the construction of the Facility by the end of September 2018.
Hugo Alves, President of Auxly commented: "Lotus is a partner that we value deeply, having been part of the original cohort of streaming partners at the inception of Auxly. We are incredibly pleased to be making this subsequent investment into Lotus to complete the buildout of the first phase of their current facility in Armstrong, British Columbia. We continue to look forward to working closely with Lotus' team to design and build out additional phases of this asset."
Shares of Auxly have jumped by nearly 70% since hitting lows of $0.56 on August 14th.
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Green Thumb Industries Inc. (GTBIF) (GTII.CN) has also enjoyed a multi-week rally. Since August 14th, shares of the company are up by more than 130%. The company is a national cannabis consumer packaged goods company and owner-operator of the high growth national retail chain RISE™ Dispensaries.
Recent financial highlights include second quarter 2018 revenues increasing 291% year-over-year to $13.6 million. Furthermore, quarter-over-quarter revenues increased 25%. The Company has approximately $7.9 million of total debt, $1.4 million of which is due within 12 months. In addition to this, Green Thumb raised net proceeds of $61 million through a brokered and non-brokered private placement in connection with the RTO of a Canadian public company.
"The second quarter was a critical quarter for GTI. We became a publicly traded company on June 13th. The team has been hard at work and that is reflected in the results for our first reporting period as a public company - generating solid revenue growth, raising capital, entering new markets and attracting top talent," said GTI Founder and Chairman Ben Kovleri in a late August press release.
ForMore Information On Green Thumb Industries, Inc., Click Here.
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Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. MAPH Enterprises LLC which owns www.MarijuanaStocks.com is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release.
MAPH Enterprises LLC, which owns www.MarijuanaStocks.com, may from time to time have a position in the securities mentioned herein and may increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice. MAPH Enterprises LLC, which owns www.MarijuanaStocks.com, may be compensated for its services in the form of cash-based compensation or equity securities in the companies it writes about, or a combination of the two. Pursuant to an agreement between an affiliate of MAPH Enterprises, LLC (owners of MarijuanaStocks.com), Midam Ventures LLC and Integrated Cannabis Company, Midam is being paid $25,000 per month for a period of 6 months beginning September 4, 2018 and ending March 9, 2019. We own ZERO shares of Integrated Cannabis Company. We may buy or sell additional shares of (ICNAF)/(ICAN) in the open market at any time, including before, during or after the Website and Information, to provide public dissemination of favorable Information about Integrated Cannabis Company.
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