CORAL GABLES, FL / ACCESSWIRE / September 10, 2018 / Marijuana stocks continue to be at the head of the pack as far as new industry booms go. The industry once completely prohibited across the globe is now getting to stretch its legs as Canada readies for full legalization next month. Many pot stocks were weighed down this summer until Constellation Brands (STZ) made an additional investment into Canopy Growth (CGC) (WEED) for some $4 Billion.
The original Constellation investment, announced in late October of 2017, was targeting a cannabis-based beverage line that the two companies would work on. There has been much more speculation as to what the US cannabis market could look like in the future should it decide to fully legalize recreational marijuana sales. However, since this is not the case thus far many investors are placing their bets on highflying Canadian cannabis stocks this quarter.
IntegratedCannabis Company (ICNAF) (ICAN) has been in the process of completing an acquisition over the last year. In June, the company officially finalized details and has now successfully acquired X-SPRAYS ?, which holds, through a wholly owned subsidiary, a worldwide, exclusive license for X-SPRAYS?. The product line is a brand of state-of-the-art life-enhancement products administered via an optimal oral spray delivery system.
X-SPRAYS? has a multi-faceted distribution plan and will utilize traditional retail outlets, its e-commerce outlet, and non-traditional retail outlets like spas, bars, hotels, and cruises. In a recent shareholder update released this month, the Company stated that it intends to launch an aggressive online marketing campaign to drive sales through the utilization of traditional on-line channels and via established product influencers. It further stated that it would look to explore potential acquisition opportunities as well.
“We are currently in the late stages of reviewing a short list of potential acquisition opportunities that would broaden our product offering from the existing X-SPRAYS? line to potentially licensed Cannabis formulations in several US States,” said Mr. John Knapp, CEO of Integrated Cannabis Company.
This morning InMed Pharmaceuticals Inc. (OTCQX:IMLFF) (TSX:IN.TO) announced that it has filed a Patent Cooperation Treaty application pertaining to the Company’s proprietary biosynthesis program for the manufacture of cannabinoids that are identical to those found in nature. This application will provide protection of the biosynthesis technology in over 150 different countries including the United States and claims a priority date from September 5, 2017 (PCT/CA2018/051074).
The PCT filing, which is a conversion from the provisional patent filed in September 2017, is an important step in providing intellectual and commercial protection for InMed’s biosynthesis platform technology, according to the company.
InMed will report financial results for the three and twelve months ended June 30, 2018, on Thursday, September 13, 2018.
This morning, Tilray (NASDAQ:TLRY) announced that it has entered into an agreement with Supreme Cannabis Company, Inc. (FIRE.TO) (SPRWF), under which Supreme’s subsidiary, 7ACRES will provide dried cannabis to Tilray Canada Ltd. According to the company, the value of this initial supply agreement is estimated to be in excess of C$2 million ($1.52 million). Dried cannabis provided to Tilray by 7ACRES will be used primarily to support medical cannabis patients in Canada, including Tilray’s patient population.
“We are pleased to enter into this agreement with Tilray. As one of Canada’s first licensed producers, Tilray has been an industry leader in patient services and quality assurance. We believe this agreement demonstrates the quality of the 7ACRES dried flower, and the infrastructure, management and systems that support our brand positioning,” said John Fowler, CEO of Supreme Cannabis.
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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 6 months beginning September 4, 2018 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.