CORAL GABLES, FL / ACCESSWIRE / November 19, 2018 / Marijuana stocks continued to see a strong push into Friday’s close. Following the departure of government officials like Jeff Session more speculation on the future of US cannabis legalization has become a higher priority. Grand View Research reports that the U.S. legal marijuana market size was estimated at USD $7.06 billion in 2016 and is expected to grow at a CAGR of 24.9% from 2017 to 2025.
“Increasing number of companies operating in the marijuana market is expected to bolster the quantity and variety of products reaching the end users. Products like marijuana oil have started gaining traction over the past few years owing to increased effectiveness and safety as compared to smoking it… These advances in new product development is expected to enhance product adoption among consumers.”
With investors once again paying attention to marijuana stocks , leading into the holiday season, here are 4 pot stocks to watch.
ICC International Cannabis Corp. (OTC:KNHBF) (CNSX:WRLD.CN) saw a 3-day rally during the second half of the week last week. Shares hit lows of $0.17 on Wednesday and managed to rebound by as much as 147%. ICC International Cannabis Corp. (OTC:KNHBF) (CNSX:WRLD.CN) topped out at highs of $0.42 on Friday afternoon.
This morning the company announced it has entered into a definitive agreement to acquire 100per cent of Enigma Unipessoal Lda. Enigma controls one of the first hemp licenses to be issued in Portugal, which permits the cultivation, processing and import/export of hemp-derived products. Enigma successfully harvested and extracted its first hemp crop in 2015, and has become a notable importer of proprietary hemp seeds .
This license authorizes International Cannabis to cultivate hemp on 400 acres of fertile agricultural land located in the Castelo Branco region of Portugal. The Company’s Portuguese hemp operations are estimated to yield 45,000 kg of finished, extracted pure cannabidiol isolate product per annum, and a full operating team and infrastructure is in place.
Eugene Beukman, CEO and a director of ICC International Cannabis Corp. (OTC:KNHBF) (CNSX:WRLD.CN) stated, “International Cannabis is progressing towards a full spectrum cannabis license in Portugal, which it is hopeful to achieve before the end of Q1 2019. The Company considers the addition of this hemplicence as the first step towards developing a material cultivation presence in Portugal.”
Innovative Industrial Properties (NYSE:IIPR) provides creative capital solutions to the medical-use cannabis industry. This week the company announced results for the quarter ended September 30, 2018, the seventh full quarter since the Company commenced real estate operations and completed its initial public offering in December 2016.
Innovative Industrial Properties (IIPR) generated total revenues of approximately $3.9 million in the quarter, representing an increase of more than 150% from the prior year. As of November 7, 2018, the Company owned ten properties located in Arizona, Colorado, Maryland, Massachusetts, Michigan, Minnesota, New York and Pennsylvania, totaling approximately 952,000 rentable square feet, which were 100% leased with a weighted-average remaining lease term of approximately 14.7 years. As of November 7, 2018, the Company had invested approximately $121.5 million in the aggregate and had committed an additional approximately $15.9 million to reimburse certain tenants and sellers for completion of construction and tenant improvements at the Company’s properties.
Shares of the company’s stock hit new 52-week highs last week when Innovative Industrial Properties reached highs of $51.82 on Friday afternoon.
Aphria Inc. (TSX:APHA.TO) (NYSE:APHA) currently has a presence in more than 10 countries across 5 continents. The company recently announced its proposed acquisition of CC Pharma GmbH, a leading distributor of pharmaceutical products to more than 13,000 pharmacies in Germany.
The transaction, when closed, will strengthen the Company’s end-to-end medical cannabis operations and infrastructure in Germany, a key market in Aphria’s international expansion. It is anticipated that the transaction will close in January 2019.
“This acquisition strengthens our foothold in Germany, one of the most highly sought-after medical cannabis markets in the world,” said Vic Neufeld, CEO of Aphria. “CC Pharma is cash-flow positive and has significant experience with regulatory requirements and international logistics. It will be a strong addition toAphria’s presence in Germany, providing deeper access to the important pharmacist channel and advancing our ambitious global growth strategy.”
Shares of Aphria also saw a slight reversal in price last week. Wednesday saw Aphria sharestrade as low as $9.26 and by Friday, the stock closed the week at $9.74.
Trulieve Cannabis Corp. (OTC PINK: TCNNF) (CNSX:TRUL.CN) has been one of the marijuana stocks that has been quietly gaining attention over recent weeks. After the company announced that it had entered into agreements to acquire 100% of Life Essence, Inc. and 100% of Leef Industries, LLC, Trulieve reported its latest financial results. Revenue grew from $23.3 million in Q2 2018 to $28.3 million in Q3 2018. Adjusted EBITDA increased from $11.7 million in Q2 2018 to $12.6 million in Q3 2018
“These outstanding results in Q3 demonstrate the meaningful progress we’ve made on our strategic plan since becoming a publicly-traded company in September,” said Kim Rivers , CEO of Trulieve. “Looking ahead, we remain focused on scalable growth, including multi-state operational expansion.”
Trulieve is a vertically integrated “seed-to-sale” company and is the first and largest fully licensed medical cannabis company in the State ofFlorida . Trulieve cultivates and produces all of its products in-house and distributes those products to Trulieve-branded stores (dispensaries) throughout the State of Florida , as well as directly to patients via home delivery.
MarijuanaStocks.com is the leading web destination for all things cannabis. Investors can find marijuana-related financial, medical, legal, and social news anytime day or night. Writers are invited to submit cannabis related articles for publication.
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 ICC International Cannabis Corp. (WRLD.CN) (KNHBF). Midam is being paid $150,000 for a period of 30 days beginning October 25, 2018 and ending November 25, 2018. We own 0 shares of ICC International Cannabis Corp. (WRLD.CN)(KNHBF). We may buy or sell additional shares of (WRLD.CN)(KNHBF) in the open market at any time, including before, during or after the Website and Information, to provide public dissemination of favorable Information about ICC International Cannabis Corp. (WRLD.CN)(KNHBF). As of November 16, 2018 a member of MAPH owns 25000 shares of Trulieve Cannabis Corp., which were purchased in the open market and may be sold at any time. MarijuanaStocks.com disclaimer will be updated at such time. Please click here for full disclaimer