CORAL GABLES, FL / ACCESSWIRE / October 16, 2018 / Marijuana companies across the globe are on pace to raise a record $8 billion by the end of 2018, as more companies go public and scale to meet demand. Meanwhile, the Canadian marijuana ETF, Horizons Marijuana Life SciencesIndex ETF (HMMJ), has climbed over 70% since mid August.
Cannabiscultivation and retail firms rang in as the leading fundraising sector with more than $2.5 billion raised through the first half of the year. Furthermore, the $4.3 billion raised in the first six months of this year exceeds the full-year totals from 2017 ($3.5 billion), 2016 ($1.3 billion) and 2015 ($0.9 billion). President Trump has the intentions to work towards legalizing medical marijuana on a federal level following next month’s midterm races, Rep. Dana Rohrabacher, California Republican, stated this past Thursday. With all of the excitement in the US and Canada, there are many marijuanastocks heading higher this week .
Next Green Wave (NGW) went public this month on the Canadian Stock Exchange. The company has already been awarded Conditional Use Permits for indoor cultivation, nursery, manufacturing and extraction, and distribution, making it a completely vertically integrated operation from seed to sale. Next Green Wave is composed of industry experts having produced global award-winning seeds and plants under the brand Loud Seeds.
This morning, NextGreen Wave (NGW) broke news that it has entered into a letter of intent whereby the Company intends to acquire 100% of Loud Seeds, LLC along with the Loud Seeds brand and all of its related assets. As consideration for the Transaction, Next Green Wave intends to distribute $2,000,000 in common shares of the Company to the shareholders of Loud Seeds.
Leigh Hughes, Executive Chairman of Next Green Wave: “Being able to bring one of the best seed banks in the world into our nursery continues to differentiate Next Green Wave from other cultivators. We are excited to join an award-winning genetics portfolio with world-class breeding skills as the construction of our first facility nears completion and begins cultivation.”
Shares of Next Green Wave have climbed from an opening price of $0.71 when shares first began publicly trading, to highs of $0.81 on Monday.
Canopy Growth Corp. (NYSE:CGC)(TSX:WEED.TO) announced this week that it has entered into an agreement to acquire the assets of ebbu, Inc., an Evergreen, Colorado -based hemp research company. The transaction will complement and accelerate multiple core verticals operating under Canopy Growth’s group of companies.
“Beyond the technological edge this transaction provides, we are pursuing this acquisition because Canopy shares ebbu’s core ethos of building consumer trust,” said Mark Zekulin , Co-CEO & President, Canopy Growth. “We collectively believe consumer trust is achieved by driving the scientific agenda needed to build predictable, repeatable outcomes and layering on brand power.”
Shares of Canopy Growth have climbed to highs of $59.65 during Tuesday’s pre market session.
Aurora Cannabis (OTCQX:ACBFF)(TSX:ACB.TO) has also caught attention recently. The company released fiscal fourth-quarter earnings and confirmed its intention to list stock on a “senior” U.S. exchange such as the Nasdaq or the New York Stock Exchange.
Aurora Chief Executive Terry Booth said, “This listing provides access to a broader investor audience who gain the opportunity to participate in our continued success.”
In addition to this, the company is slated to become the fourth Canadian cannabis company after Canopy Growth (CGC) (WEED), Tilray, and Cronos Group (CRON) to be listed in the US stock market. This week, Aurora Cannabis announced that it has applied to be listed on the NYSE (New York Stock Exchange).
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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 Next Green Wave, Midam is being paid a total of $1,075,000 for a period from October 1, 2018, and ending on April 1, 2019. We may buy or sell additional shares of (Next Green Wave) in the open market at any time, including before, during or after the Website and Information, to provide public dissemination of favorable Information about Next Green Wave. As of October 16, a member of MAPH owns 57,000 shares of ACBFF, which were purchased in the open market and could be sold at any time. This disclaimer will be updated at such time. Please click herefor full disclaimer