Yahoo Finance 3 Pot Stocks Investors are Watching on Wednesday
CORAL GABLES, FL / ACCESSWIRE / September 12, 2018 / Cannabis cultivation is growing; no pun intended. There a more licensed producers hitting the public markets all hoping to get a piece of the expanding Canadian marijuana industry. Mid October is when the country will go fully legal for recreational cannabis sales and further open the door for international trade. In addition to this, new methods of use such as CBD are placing higher demand on raw cannabis. According to the Hemp Business journal, CBD became a billion dollar industry in 2017 and is expected to continue rising higher into the billions in revenue. With this in mind, a number of marijuana stocks are heading higher this month and include GTECHoldings (GGTTF) (GTEC), Emblem Corp. (EMMBF) (EMC), and Green Thumb Industries (GTBIF)(GTII).
GTECHoldings (GGTTF) (GTEC) recently announced that it has entered into a binding Letter of Intent with Invictus MD Strategies Corp. (IVITF) (GENE). The LOI is in place for a proposed transaction where Invictus will provide GTEC with a non-revolving unsecured convertible loan in an amount up to $2,000,000, and an interest rate of prime plus 5%.
According to press from GTEC, the proceeds from the Loan Facility will be used by GTEC for working capital and to further execute GTEC's cannabis retail expansion strategy in Western Canada and Ontario. GTEC expects to have a minimum of 15 Cannabis Cowboy retail stores open by October 17, 2018, in Alberta, as well as 1 location in Saskatchewan, complemented by an e-commerce platform that will serve the entire Province.
ForMore Information On GTEC Holdings, Click Here
Emblem Corp. (EMMBF) (EMC.V) announced today that through its wholly owned subsidiary, Emblem Cannabis Corporation, that it has entered into a five-year wholesale supply agreement with Aphria Inc. (APHQF)(APH). The Agreement will see Emblem purchase up to an aggregate of 175,000 kg equivalents of cannabis products from Aphria over a five-year term, with the opportunity for five-year renewals.
This announcement comes on the heals of the previously announced deal wherein the Emblem subsidiary entered into a five-year supply and preferred vendor agreement with Compass Cannabis Clinic to become a preferred cannabis supplier through its wholly owned subsidiary adult-use retail entity Starbuds Canada effective October 17, 2018.
Shares of Emblem have increased by as much as 90% from its August 14 lows of $0.82
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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.
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