CORAL GABLES, FL / ACCESSWIRE / October 12, 2018 / Themarijuana industry is on the verge of a major event. In just days, the entire country of Canada will allow recreational cannabis to be legally sold across the nation. This event also has a number of companies outside of the cannabisspace showing interest and getting involved. In August, Molson Coors said it will team up with a marijuanacompany to sell cannabis-infuseddrinks .
“The total global [ cannabis ] category could reach upwards of $200 billion, as suggested by Constellation Brands,” said Stifel analyst Christopher Growe. Furthermore, Growe noted that governments pondering marijuana legalization or other policies are probably going to move slowly. Canada could be the litmus to their next move. Ahead of this big day, investors are taking a look at a few trending marijuana stocks this month.
IntegratedCannabis Company (ICNAF) (ICAN) has followed suit with other cannabis stocks ahead of Canada’s legalization event next week. Now that the October 17 date is just days away, attention has begun to refocus on Canadian marijuana stocks. Earlier this week, Integrated Cannabis announced a retail focused collaboration with New Age Farm, Inc. to deliver CBD education and innovative CBD products to the Colorado market this Fall.
IntegratedCannabis company has been on a “deal trail” that not only includes this recent announcement but also includes other agreements for things like distribution and product development. Integrated Cannabis Company, Inc. announced the completion of a Letter of Intent to distribute X-SPRAYS? products throughout the clinics and doctors’ offices of Empower Clinics Inc. (CNSX:EPW.CN). Furhtermore, the company has also announced the completion of a Letter Agreement to collaborate on X-SPRAYS? products for the Canadian market with GTEC Holdings Ltd, a Canadian License Producer under Health Canada’s Access to Cannabis for Medical Purposes Regulations (ACMPR).
Since September, shares of IntegratedCannabis have climbed as high as $1.43.
MedMen Enterprises, Inc. (OTCQB:MMNFF)(CNSX:MMEN) announced Thursday a binding letter of intent to buy medical cannabis provider PharmaCann LLC in a stock deal valued at $682 million. The acquisition doubles the number of states where MedMen has licenses to 12. Combined, MedMen and PharmaCann would be licensed for 66 retail stores and 13 cultivation and production facilities, including pending acquisitions by MedMen.
“This is a transformative acquisition that will create the largest U.S. cannabis company in the world’s largest cannabis market,” said Adam Bierman, MedMen’s chief executive officer and co-founder. “The transaction adds tremendous scale to our vertically integrated business model by expanding our U.S. retail footprint across important growth markets while strengthening our cultivation and production capabilities.”
MedMen currently operates 14 retail stores in the primary markets of California, Nevada and New York. The Company recently acquired a license to open and operate 30 retail stores in Florida and has signed binding agreements to acquire an operating retail store in Illinois, cultivation and retail operations in Arizona, and an additional non-operating retail license in California.
Aphria Inc. (OTCQB:APHQF)(TSXV:APH.VN) helped give a boost to the cannabis industry this morning. Aphria growth in the first quarter of 2019 includes a 35% increase in grams sold in Q1-2018, a 117% increase in revenue YOY and net income increases by more than 40% YOY.
“Aphria started fiscal 2019 by taking significant steps to solidify our position as a premier global cannabis company,” said Vic Neufeld, Chief Executive Officer, Aphria. “We advanced the build out of our expansion in Leamington, signed coast-to-coast supply agreements, launched our strong portfolio of adult-use brands, and created strategic collaborations with leading companies like Perennial that will ensure Aphria continues to lead the consumer experience as the cannabis industry evolves.”
Shares were up as high as $16 per share during pre market trading on Friday morning.
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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 2 months beginning September 4, 2018, and ending March 9, 2019. This payment has been increased to $75,000 per month for the period of November 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. MarijuanaStocks.com, which is owned by MAPH Enterprises LLC., a Florida Corporation has been previously compensated $100,000 by a non-affiliate 3rd party for a 1 year period beginning August 1, 2017 and ending August 1, 2018 to publicly disseminate information about CNRP Mining, Inc. (CND.CN) (CRPGF) that is now Integrated Cannabis Company. We own zero shares. Please click herefor full disclaimer