Cannabis Market Minute For Monday February 2, 2015
MIAMI, FL / ACCESSWIRE / February 2, 2015 / The "Super" pomp and circumstance has finally come to a close. Whether you were for the underdog or rooting for the favorite, it’s time to get back to work. Heading into the Monday morning session, several stocks have seen an increase in trading activity during the final days leading up to the big football weekend, which include near-term updates from CannaGrow Holdings, Inc. (OTC:CGRW), MedicalMarijuana, Inc. (MJNA), and Hemp, Inc. (OTC:HEMP).
CannaGrow has increased in price by nearly 1,200% since the beginning of November. Following the recent announcement that CannaGrow had received initial approval for its land use applications, the Company updated the public to its Colorado project. Company CEO, Delmar Janovec stated, "NuGro Industries, the Landowner and developer for the Colorado Buffalo Ranch Project in Huerfano County, executed the Purchase Order from Olympia Steel Buildings for the Head-House facility. With [the] initial approval of the Land Use Application from the Huerfano County Planning Commission, NuGro Industries felt confident that final approval will be granted and it was time to initiate the 25% non-refundable deposit to get the building scheduled for delivery."
Thursday, Medical Marijuana, Inc., announced that the Company had signed a definitive agreement to acquire Kannaway, LLC. Kannaway is a network sales and marketing company specializing in the sales and marketing of hemp-based botanical products. According to Medical Marijuana, Kanaway first raised eyebrows when it reported issuing nearly $1,000,000.00 USD in commission and attracting more than 70,000 enrollees within its first 88 days of operation. This past week, Kannaway’s attorney, Kevin Thompson of Thompson Burton was named the 2014 Person of the Year by DirectSellingLive.com and Distributor Magazine. Since hitting lows in December of $0.1097, MJNA still remains up roughly 10% as of Friday’s closing price of $0.1211.
As a result of a high volume of positive messages from its shareholders, Hemp, Inc. executives announced last week that they have decided to make video updates a permanent, ongoing corporate feature. The series of new videos will provide the latest updates on the Company’s industrial hemp processing plant in Spring, Hope, NC. "We have the potential of being an industry giant with the only decortication plant of this scale in the United States," says Bruce Perlowin, CEO of Hemp, Inc.
Throughout the month of January, Hemp, Inc. shares have increased by as much as 64.5% after opening the year at a price of $0.0304 and hitting highs of $0.05 this past Tuesday.
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SOURCE: Daily Stock Reporter
