HOUSTON, TX / ACCESSWIRE / February 1, 2019 / Cannabis stocks are just beginning to move to major exchanges.
Cronos Group Inc. (CRON), for example became the first cannabis company to list on the NASDAQ in early 2018. ''It's very significant for the company and the whole industry,'' said Mike Gorenstein, Cronos founder and CEO, as quoted by Bloomberg. ''It's a huge moment - just shows the stigma is continuing to erode on cannabis.''
Aurora Cannabis Inc. (ACB) debuted on the New York Stock Exchange in October 2018. Canopy Growth (CGC) listed on the NYSE in 2018, as did Tilray Inc. (TLRY). As these cannabis stocks move to bigger exchanges, bigger investors are able to invest.
Of course, that can lead to further upside for stocks that do so, including The Yield Growth Corp. (CSE: BOSS)(OTCQB: BOSQF), Aphria Inc. (NYSE: APHA), Charlotte's Web Holdings Inc. (CSE: CWEB)(OTC: CWBHF), and The Supreme Cannabis Company Inc. (TSXV: FIRE)(OTC: SPRWF).
The Yield Growth Corp. (BOSS)(BOSQF), for example, will launch today on the OTCQB market under the ticker symbol, ''BOSQF.'' The company will also continue to trade on the Canadian Securities Exchange under ticker symbol ''BOSS'' and on the Frankfurt Exchange under the ticker symbol ''YG3''.
"Trading on the OTCQB will help expand The Yield Growth Corp's presence in the U.S. with exposure to its equity markets,'' said Penny Green, President and CEO of The Yield Growth Corp. ''This is an important milestone as we continue our track record of maximizing long term shareholder value. Further, we are pleased to make it easier for U.S. investors to buy our stock, especially now as we prepare to launch our products in the U.S.''
At the moment, The Yield Growth subsidiaries are developing and manufacturing a wide range of other personal care products containing hemp root oil and various cannabinoids. In addition, The Yield Growth is currently seeking to obtain necessary licenses to process cannabis and manufacture cannabis products in multiple jurisdictions where such products can be sold.
Aphria Inc. (APHA), one of the biggest Canadian marijuana stocks debuted on the New York Stock Exchange in October 2018. In recent days, the stock pushed higher on a $1.8 billion takeover bid from Green Growth Brands. However, Aphria Inc. has urged its shareholders to take no action on the offer because it significantly undervalues the $2.18 billion company.
Irwin Simon, Aphria's independent Board Chair, said, "Aphria is a market leader and has a tremendous opportunity to create substantial value for shareholders. Any offer would necessarily need to be evaluated against the current and future value of our current strategic plan. We are also determined to protect Aphria shareholders from opportunistic offers that fail to reflect the substantial value and growth prospects we have built at Aphria. We will evaluate GGB's offer in this spirit."
"The cornerstones of Aphria's strategy are industrial-scale production, pharmaceutical-grade quality, innovative product development, and industry leading partnerships. The future value of what can be built on this foundation is substantial. Our shareholders have also benefitted from Aphria being one of the first cannabis companies to list on leading exchanges in Canada and the United States. There are many considerations that will factor into the Board's recommendation and we look forward to providing our response to shareholders in due course. In the interim, shareholders should take no action as it relates to the GGB offer."
For More Information on Aphria Inc., Click Here.
Charlotte's Web Holdings Inc. (CWEB)(CWBHF) is currently listed on the Canadian Securities Exchange, and could pursue a listing on a major U.S. exchange now that the U.S. Farm Bill has passed, as noted by Bloomberg.
In addition, the company just reported that its 2018 harvested hemp results produced 10 times growth in harvested hemp compared to 2017.
''Charlotte's Web is one of only a few hemp CBD producers capable of supplying large volumes of high-quality hemp extract from its own supply chain that can meet significantly increasing market demand. As the category and brand leader, our goal is to increase our market share and with this bountiful harvest we are able to satisfy our customer demands for 2019 and beyond,'' noted Hess Moallem, President and CEO.
''This incredible harvest ensures we can continue to produce our high-quality human nutrition products without being subject to constantly fluctuating market prices as is common with third-party sourced raw material. This allows us to have better control and predictability over our cost of goods sold and thereby our gross margins. In addition, these harvest levels will allow us to explore opportunities to supply future partners with our proprietary hemp extracts.''
For More Information on Charlotte's Web Holdings Inc., Click Here.
The Supreme Cannabis Company Inc. (FIRE)(SPRWF) just announced that its stock will list on the Toronto Stock Exchange (TSX) on February 4, 2019. At that time, its common shares and 6% unsecured convertible debentures due 2021 will delist from the TSX Venture and will commence trading on the TSX under the symbols, ''FIRE'' and ''FIRE.DB.''
For More Information on The Supreme Cannabis Company Inc., Click Here.
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