CORAL GABLES, FL / ACCESSWIRE / October 24, 2018 / Many marijuana stocks took a tumble following Canada's recent cannabis industry legalization last week. Tuesday, sector stocks took another hit during early morning trading. However, late in the afternoon, cannabis stocks began to rally back. The ETFMG Alternative Harvest ETF (MJ) jumped in premarket trade, after tumbling 22% over the past six days. The cannabis space is looking to snap a 6-day losing streak on Wednesday morning. Ahead of the open, 3 marijuana stocks to watch include Integrated Cannabis Company (ICNAF) (ICAN.CN), Therapix Biosciences (TRPX), and Aurora Cannabis (ACB.TO)(TSX:ACB.TO)
Integrated Cannabis Company (ICNAF) (ICAN.CN) saw a reversal in share price on Tuesday. The company's stock hit session lows of $0.60. By the end of the day, Integrated Cannabis Company (ICNAF) (ICAN.CN) bounced back by 30%. Integrated Cannabis recently announced that it had signed a letter of intent to acquire Critical Mass Industries of Colorado. This company reported revenue in excess of $7 million in 2017 to the Colorado Department of Revenue. Furthermore, Critical mass has been operating successfully for nearly 10-years under thebrands Good Meds and BOSM Labs.
Integrated Cannabis, through a newly formed subsidiary, will employ CMI's assets and personnel to conduct R&D and licensing. According to Integrated Cannabis Company (ICNAF) (ICAN.CN) there will be no production or sale of products resulting from such R&D or licensing in the United States unless and until it would be federally legal to do so.
The company has also strengthened its distribution. Earlier this month, Empower Clinics Inc., a leading ownerand operator of medical cannabis and wellness clinics in the US, announced a national distribution agreement with Integrated Cannabis Company (ICNAF) (ICAN.CN) where Integrated will distribute CBD-infused X-SPRAYS™ products. This includes CBD, Sleep, Recover, Libidoand Energy throughout the Empower network of clinics in Washington, Oregon, and Illinois as well as on Empower's Website in the coming weeks
Therapix Biosciences (TRPX) has caught attention this week after announcingdeal news. The company is a specialty, clinical-stage pharmaceutical company focusing on the development of cannabinoid-based treatments. Therapix announced today that it has signed a binding letter of intent with FSD Pharma Inc. (CSE:HUGE) (OTCQB:FSDDF), under which FSD will acquire Therapix, effective October 22, 2018. The Transaction focuses on Therapix proprietary IP and related technology, and assets pertaining to allclinical stage pharmaceutical assets applications, excluding certain pain assets, such as theUS based pain clinics.
Since Monday's open, shares of the company have jumped as high as $6.83. During premarket hours on Wednesday, Therapix traded as high as $6.58 after closing at $5.40 on Tuesday afternoon.
Aurora Cannabis (ACB)(ACB.TO) listed its shares on the NYSE this week. Prior to this, the only way for investors to access shares was the OTC Market or Canadian exchanges. This morning, Aurora shares gapped up after ICC Labs Inc. announced that Institutional Shareholder Services Inc. (ISS) and Glass Lewis & Co. have both favorably recommended that ICC Shareholders vote FOR the previously announced arrangement between ICC and Aurora Cannabis Inc. whereby, subject to the terms and conditions of an arrangement agreement dated September 8,2018 Aurora will acquire all of the issued and outstanding common shares of ICC.
Since making its NYSE debut, Aurora Cannabis has moved as high as $8.63 per share.
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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 2 months beginning September 4, 2018, and ending March 9, 2019. This payment has been increased to $75,000 per month for the period of November 42018 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. MarijuanaStocks.com, which is owned by MAPH Enterprises LLC., a Florida Corporation has been previously compensated $100,000 by a non-affiliate 3rd party for a 1 year period beginning August 1, 2017 and ending August 1, 2018 to publicly disseminate information about CNRP Mining, Inc. (CND.CN) (CRPGF) that is now Integrated Cannabis Company. We own zero shares. As of October 23, 2018, a member of MAPH Enterprises, which owns MarijuanaStocks.com holds 74,000 shares of Aurora Cannabis purchased in the open market and may be sold at any time. Please click here for full disclaimer