Yahoo Finance 4 Marijuana Stocks to Have on Your Watchlist on Friday (2/15/19)
CORAL GABLES, FL / ACCESSWIRE / February 15, 2019 / Over the last couple of years, the marijuana stock market has come to garner significant media attention because of the exciting news emerging from companies in the cannabis sector. These companies have been able to enjoy impressive gains due to major legislative changes and an influx of enthusiastic consumers sweeping through the market. Whereas cannabis was once viewed as having little to no appeal, public support is shifting in the direction of an understanding of all the potential benefits of cannabis. The increase of growing approval coupled with capital flowing into the marijuana industry has resulted in attracting more investors looking for potential opportunities. Premier Health Group (OTC:PHGRF) (CSE:PHGI), Aphria Inc (APHA), Canopy Growth Corp (CGC), and Cronos Group Inc (CRON) represent four pot stocks looking to close out a strong week.
Premier Health Group (OTC:PHGRF) (CSE:PHGI) is unlike many companies in the cannabis sector because its core framework is built around healthcare. The Company is largely focused on meeting the growing challenges of the healthcare industry through investments in advanced telemedical technologies and other innovations. Rather than solely utilize these incredible resources its patients, the Company recognized the incredible opportunity in incorporating medicinal cannabis as a means of treatment.
Premier Health Group (OTC:PHGRF) (CSE:PHGI) yesterday provided consumers and investors in the cannabis sector with a corporate update. Over the past year, the Company has completed several key strategic acquisitions, including Cloud Practice Inc, a healthcare technology company that provides cloud-based electronic medical records software applications for physicians throughout Canada.
As a result of this acquisition, Premier Health Group (OTC:PHGRF) (CSE:PHGI) now has a collective ecosystem of over 3,000,000 active patients and 287 primary care clinics. Additionally, Cloud Practice has seen revenue growth in excess of 30% year over year for the past 3 years. Not only does this acquisition expand the Company's footprint across Canada, but it also provides an opportunity to plug in its services to Cloud Practice's current client base.
Amid their corporate update, Premier Health Group (OTC:PHGRF) (CSE:PHGI) spoke on plans for further expanding their operations. As for the Company's next move, they will be entering the Cannabis clinic space. The role of Cannabis in treating medical conditions is continuously expanding to help patients with acute & chronic symptoms. Currently, there is a critical gap between the patient's need for medical cannabis, and the physician's comfort and knowledge to prescribe it.
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Aphria Inc (APHA) today announced that its Board of Directors has accepted and considered the report of the special committee of independent directors, which recently reviewed the allegations made against the Company in respect of the Company's previously completed acquisition of LATAM Holdings Inc.
Following the announcement, Irwin Simon, Aphria's independent Board Chair, said, "the constructive conclusion to this long process has strengthened the Company. Though I was not part of Aphria at the time of the LATAM acquisition, the Special Committee's findings give me and the Board full confidence that it was executed at an acceptable value and is consistent with the Company's international growth strategy."
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Canopy Growth Corp (CGC) earlier this week released its consolidated financial results for the third quarter fiscal 2019 ended December 31, 2018. Per the details of their financials, the Company secured a net income of $74.9 million, including changes in fair values of financial liabilities included in other income, as well as closed on their $5 billion investment deal with Constellation Brands Inc.
In a press release regarding the announcement, Bruce Linton, Chairman, and co-CEO, Canopy Growth, stated, "our successful first full quarter with recreational sales in Canada reinforces our long-held strategy of making meaningful investments early in order to secure market share. With a strong cash position, we added strategic assets and IP through acquisitions to accelerate the sophistication of our inputs with ebbu, and our consumer-facing outputs with Storz and Bickel."
For More Information On Canopy Growth Corp, Click Here
Cronos Group Inc (CRON) announced in late-January that the Company had entered into a credit agreement with Canadian Imperial Bank of Commerce, as administrative agent and lender, and the Bank of Montreal, as lender in respect of a $65 million secured non-revolving term alone credit facility.
Per the details of the announcement at the time, The Company intends to use the funds available under the Credit Facility to repay the Company's existing loan facility with Romspen Investment Corporation and for general corporate purposes pending the closing of the Company's previously announced equity investment by Altria Group, Inc.
For More Information On Cronos Group Inc, Click Here
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