CORAL GABLES, FL / ACCESSWIRE / October 19, 2018 / Marijuana stocks are seeing more activity following Canada's recent legalization. Reports from ArcView Market Research and its research partner BDS Analytics, say that over the next ten years, the legal cannabis industry will see even more progress around the globe. Spending on legalcannabis worldwide is expected to hit $57 billion by 2027. The adult-use (recreational) market is expected to cover 67% of the expenditure; medicalmarijuana will take up the remaining 33%. On top of that, money is flowing into the industry at an even greater rate. The $4.3 billion raised in the first six months of this year already exceeds the full-year totals from 2017 ($3.5 billion), 2016 ($1.3 billion) and 2015 ($0.9 billion). Three cannabis companies that deserve more focus on Friday include Integrated Cannabis Company (ICNAF)(ICAN), MPX Bioceutical Corporation (MPXEF)(MPX.CN), and Tilray Inc (TLRY).
IntegratedCannabis Company (ICNAF) (ICAN) is focused on the health benefits of cannabis and CBD. A letter of intent wassignedthis morning to acquire all of the issued and outstanding securities of Critical Mass Industries LLC. The Colorado-based cannabis company, Critical Mass has operated for nearly 10 years under the brands: Good Meds and BOSM Labs.
Dr. Clive Spray, CSO IntegratedCannabis (ICNAF)(ICAN) said, "The acquisition of CMI's unique assets, decade of experience in the first fully regulated marketplace and the human resource component realized from the teams depth of knowledge in the sector will immediately supply both significant revenue and expertise to IntegratedCannabis. We are excited to include this new platform and the amazing team of professionals will serve as another key element toward realizing our global expansion."
CMI reported revenue in excess of USD $7 million in 2017 to the Colorado Department of Revenue. The Colorado Department of Revenue is responsible for all sales and excise taxes related to the cannabis industry in the State.
Yesterday, MPX Bioceutical Corporation (MPXEF)(MPX.CN) along with iAnthus Capital Holdings, Inc. (IAN)(ITHUF) announced that both companies have signed an arrangement agreement. iAnthus will combine with MPX in an all-stock transaction with offered equity consideration to MPX shareholders valued at $835 million before giving effect to MPX International. This is also assuming all of MPX's dilutive securities are exercised prior to the completion of the transaction. The Agreement represents the first public-to-public merger transaction in U.S. cannabis history.
The combined company, excluding MPX International, will encompass operations and cannabis licenses in 10 states that will permit iAnthus to operate 56 retail locations and 14 cultivation/processing facilities.
Shares of both MPX and iAnthus saw higher share price and trading activity on Thursday.
Tilray Inc. (TLRY) shares gapped up during pre market hours on Friday morning. The Canadian cannabis stock hit highs of $158 before the opening bell. Benchmark recently gave Tilray a buy rating with a $200 price target.
Tilray Inc.'s recent announcement that is has sold $450 million in convertible debt to "qualified institutional buyers" in the U.S. and Canada has sparked added interest in the company during recent weeks.
The company said it plans to use the money to repay its mortgage on its facility in Nanaimo, British Columbia, and use the cash for working capital, and future acquisitions, among other things. Tilray said it netted roughly $435 million after the purchasers' discount and expenses related to the transaction.
Tilray Inc. has also received approval from the Drug Enforcement Administration to import cannabis into the U.S. for medical research, the first Canadian company to do so.
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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