Yahoo Finance These 4 Marijuana Stocks Are Bringing The Heat
CORAL GABLES, FL/ ACCESSWIRE / January 3,2019 / The way people receive health care, including how the medical field continues its integration of medical marijuana, is evolving. As public opinion surrounding cannabis becomes increasingly more favorable, the marijuana industry may begin to present an appealing opportunity for investors looking into the nascent sector. As experts and professionals in the field work to develop innovative approaches to developing products utilizing medicinal cannabis/hemp, the industry as a whole may benefit. Premier Health Group (PHGRF) (PHGI), Namaste Technologies Inc (NXTTF) (N), MedMen Enterprises Inc (MMNFF), and HEXO Corp (OTC PINK: HYYDF) represent 4 pot stocks that are heating up on Thursday.
Premier Health Group (PHGRF) (PHGI) saw impressive gains in the month of December, as the Company's shares hit highs of 0.80 to mark a move of more than 30% over the course of the 30-day period. As the cannabis sector has garnered notoriety and seen a significant increase in public support, Premier has focused its efforts on investing in opportunities that combine healthcare and cannabis. The Company announced, back in November, that it had engaged discussions with licensed producers under the Access to Cannabis for Medical Purposes Regulation, other licensed medical cannabis companies, and government officials in order to establish a primordial framework for both patient and physician education surrounding medical cannabis.
In addition to this news, several weeks ago, Premier Health Group (PHGRF) (PHGI) announced that as part of its growth strategy to cover major verticals associated with the healthcare sector, the Company signed a binding letter of intent to acquire all outstanding securities of Cloud Practice Inc.
''With over 110,000 active patients in our clinic ecosystem, it is important that we provide them with the best possible information that allows them to make informed decisions about their personal and family's health. Providing our family physicians with the appropriate tools and knowledge to prescribe cannabis or with the ability to refer patients to a specialist within our clinics is a key outcome of this initiative," said Dr. Essam Hamza, CEO of Premier Health.
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Namaste Technologies Inc (NXTTF) (N) announced, in mid-December, that it had entered into a share purchase agreement to acquire common shares in Pineapple Express Delivery Inc and an affiliated entity, representing an additional 34% equity in exchange for such number of common shares of Namaste having an aggregate value of approximately $3.06 million.
Following this announcement, Sean Dollinger, President, and CEO of Namaste said, "We're pleased to announce adding to our position in Pineapple Express, an innovative company with a strong management team focused on providing exceptional service. We are now offering same-day delivery services in Toronto through Pineapple Express and are looking forward to their expansion throughout Canada. We believe strategic investments in technology and service companies like Pineapple Express will drive innovation and provide long-term value for the Company. I'm also personally looking forward to joiningPineapple Express' board of directors and in offering value to their team."
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MedMen Enterprises Inc (MMNFF) announced, at the tail-end of December, that further to the binding letter of intent in respectof a business combination transaction announced on October 11, 2018, the Company and PharmaCann, LLC entered into a definitive business combination agreement pursuant to which MedMen and PharmaCAnn will combine their respective businesses.
Per the press release regarding the agreement, the resultingpro-forma company (including pending acquisitions by MedMen) is anticipated to have a portfolio of cannabis licenses across the U.S. that will permit the combined company to operate 76 retail stores and 16 cultivation and production facilities. The combined company will operate in 12 states, which comprise a total estimated addressable market, as of 2030, of approximately $40 billion according to Cowen Group. Through the Transaction, MedMen is anticipated to add licenses in Illinois, New York, Pennsylvania, Maryland, Massachusetts, Ohio, Virginia, and Michigan.
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HEXO Corp (HYYDF) made headlines at the tail-end of December when the company announced that they recently reached a construction and licensing milestone with the first phase of their 1 million sq. ft. greenhouse expansion. The expansion is ready and licensed on time and on the budget for plants to move in.
According to a press release regarding the expansion, Sebastien St. Louis, HEXO Corp's CEO, andcofounder, said, "Receiving initial licensing on our 1,000,000 sq. ft. the facility is a huge accomplishment for the entire HEXO team. We are proud that the construction project is hitting all its milestones while respecting aggressive timelines and staying on budget. The new production facility allows us to continue to scale-up which, once fully operational, will give customers across Canada access to HEXO products. Our team has been hard at work for the past couple of months nurturing new mother plants and preparing cuttings. We will start moving plants into the new facility with the pre-prepared mother plants and cuttings in alignment with our continuous harvest methodology."
For More Information On HEXO Corp, Click Here
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