CORAL GABLES, FL / ACCESSWIRE / September 11, 2018 / It’s easy to pick out some of the biggest market leaders in the North American marijuana stock market. Just arrange a list by market cap and you can quickly see the big boys. But as the market gets used to recreational legalization in Canada, investors begin to search for companies that have not received the star-studded exposure like Canopy (CGC) (WEED) or Cron (CRON). The reason? Well, it stands to reason that investors would want to look at other options as these larger companies may appear to be overweight or over bought.
Just one year ago, these previously mentioned companies were trading at a fraction of the prices they are at today and logically speaking, the market is now looking for what’s next. This is typical with a number of sectors. Sectors like biopharma and tech continue to experience a similar trend and investors can relate to this. As the world prepares to see how recreational legalization will impact the global cannabis economy, several companies have begun to catch investor attention.
PureGlobal Cannabis, Inc. (PRCNF) (PURE) is a vertically-integrated, growth-oriented life sciences cannabis company. The Company’s wholly owned subsidiary, PureSinse Inc., is a licensed producer under the Access to Cannabis for Medical Purposes Regulations(ACMPR) focused on producing cannabis products for medical, wellness, health & beauty, natural health, and future legal adult use markets.
Recently the company has garnered attention after announcing key developments. This includes its wholly-owned subsidiary, PureSinse Inc. receiving approval for an amendment to its license from Health Canada under the Access to Cannabis for Medical Purposes Regulations, to include the activity of possession of cannabis oil, resin, and relevant activities. The Company anticipates that PureSinse will be granted a cannabis oils production and processing licence by the end of 2018 and subsequent oils sales licence in early 2019.
Furthermore, Pure Global has also recently signed a binding agreement to acquire a 60% share of Avicanna’s Colombian subsidiary, Savita Nativa, S.A.S., along with an option to purchase an additional 15% within 24 months, bringing Pure Global’s aggregate ownership to 75%.
CannaRoyalty Corp. (OTCQX:CNNRF) (CNSX:CRZ) recently announced it has closed its previously announced private placement with gross proceeds of $15 million. According to press, the company intends to deploy the proceeds of the Offering into its growing pipeline of specialty finance opportunities within the cannabis sector as well as for general working capital purposes.
Leading up to this, CannaRoyalty also announced that it had entered into a binding letter of intent with Tidal Royalty Corp., a provider of royalty financing to licensed U.S. cannabis operators, whereby Tidal Royalty will acquire the Company’s equity stake and royalty entitlement in Alternative Medical Enterprises LLC for a consideration of $8 million.
“The sale of our equity stake and royalty in AltMed advances our stated strategy of realizing value for shareholders on assets that are deemed non-core to our business. The substantial gains from our successful investment in AltMed will provide CannaRoyalty with capital to continue to expand its distribution and brand network in the California market, while offering CannaRoyalty shareholders a significant return on investment,” said Marc Lustig , Chairman and CEO of CannaRoyalty in its press release.
In addition to the above, CV Sciences (OTCQB:CVSI) has also seen a resurgence of interest in its stock. After shares of the company fell sharply in August, CV Sciences has seen a rebound of more than 95% since August 29 lows of $2.76.
The company announced this week that its hemp-derived CBD gold extract which includes all of PlusCBD Oil? Gold Formula product line, has received self-affirmed Generally Recognized as Safe status in accordance with stringent U.S. Food and Drug Administration (FDA) safety guidelines.
According to the company’s press release, CV Sciences is the only hemp CBD nutraceutical company to invest in the scientific evidence necessary to achieve this sought-after designation, recognizing an ingredient as presumably safe among experts under the conditions of its intended use.
Shares hit highs of $5.51 during Tuesday’s trading session.
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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, Midam Ventures LLC and Pure Global Cannabis, Midam is being paid a total of $90,000 from the company and ZERO shares of Pure Global Cannabis for a duration beginning July 23, 2018 and ending October 23, 2018. We may buy or sell additional shares of (PRCNF) in the open market at any time, including before, during or after the Website and Information, to provide public dissemination of favorable Information about Pure Global Cannabis.