CORAL GABLES, FL / ACCESSWIRE / October 1, 2018 / Ahead of Canada's "big day," Health Canada is already expecting the demand for cannabis to be substantially higher than what was originally anticipated. A report commissioned by Health Canada used a 2017 federal survey on marijuana use to gauge how much cannabis adult Canadians will use in the first year of legalization.
The amount that was calculated came in at just under 930,000 kilograms for both recreational and medical use. That's actually 41% higher than the original estimate of 655,000 kilograms arrived at by the Parliamentary Budget Officer in 2016. Assuming that the findings of this new report are true, Canadians could actually face shortages after recreational marijuana becomes legal across the country later this month. So with expected demand outpacing supply, many investors are watching marijuana stocks this month.
LeafbuyerTechnologies, Inc. (LBUY)has seen above average market activity over the last week. Earlier in September the stock pulled back to lows of $0.55 however last week shares of Leafbuyer moved up as high as $2.40 on Friday.
This morning thecompany announced that yearly sales rose 42% in the fiscal year ending June 30th, 2018. The increase reflects the cash sales booked in the year versus the previous year. The company reported that sales in new markets have been steadily increasing as marketing efforts have taken hold and sales staff has been put in place.
"Our overall strategy of broadening our platform to become a true comprehensive marketing solution has allowed us to attract many new customers and upsell current ones. The average monthly spend for new customers has increased more than 50% in the last six months as we continue to offer a wider basket of solutions. We have also been investing heavily in development (online ordering, loyalty and block chain) and are starting to see the results in sales numbers."
Cronos Group (CRON)(CRON) has found itself at the center of the Canadian cannabis boom as well. The company is a globally diversified and vertically integrated cannabis company with a presence across five continents. Cronos Group operates two wholly-owned Canadian licensed producers regulated under Health Canada's Access to Cannabis for Medical Purposes Regulations: Peace Naturals Project Inc., which was the first non-incumbent medical cannabis license granted by Health Canada, and Original BC Ltd., which is based in the Okanagan Valley, British Columbia. Cronos Group has multiple international production and distribution platforms across five continents.
Cronos Group and Aleafia Health Inc. (ALEAF)(ALEF) announced last month that the two companies entered into a joint medical cannabis study to improve the management and treatment of insomnia and daytime sleepiness.
"Aleafia is excited to participate in a study with Cronos Group, a company with a firm commitment to patient health. For far too long, the answer to a patient's sleeping disorder or chronic pain has been a prescription and a bottle of pills," said Aleafia Chief Medical Officer Dr. Michael Verbora. "There is mounting evidence of the risks of prescription sleeping aids including worsening mental health and increased risk of dementia. This study may in part point to medical cannabis as an alternative to harmful prescription drugs."
Shares of Cronos Group traded higher in pre market hours on Monday morning.
Liberty Health Sciences (LHSIF)(LHS.CN) is a provider of trusted, high quality cannabis experiences. The company recently announced today that they have entered an exclusive partnership with AdaViv Inc., a hardware-enabled, predictive agriculture company, to improve production of cannabis at its Liberty Health Sciences 360 Innovation Campus in Gainesville, FL.
AdaViv's technology enables 24/7 plant-level inspection as well as AI computer vision to uncover hidden plant biometrics that translates data into actionable insights for growers like Liberty.
Shares of Liberty Health have climbed from lows of $0.4728 in August to highs of $1.167 in September. During pre market trading on Monday, Liberty Health traded as high as $1.26.
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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.
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