CORAL GABLES, FL / ACCESSWIRE / October 24,2018 / Cannabis stocks have had a wild ride over the last week. Following Canada's cannabis industry legalization stocks have fallen for the better part of the last 6 days. However, optimism continues to persist, as industry growth remains strong. According to Grandview Research, The global legal marijuana market is expected to reach $146.4 billion by end of 2025, according to a new report. "Growing adoption of marijuana in several medical applications such as cancer, mental disorders, chronic pain and others is expected to propel revenue growth in near future."
Integrated Cannabis Company (ICNAF) (ICAN.CN) announced this month that it had signed a letter of intent to acquire Critical Mass Industries of Colorado. This company reported revenue in excess of $7 million in 2017 to the Colorado Department of Revenue. Furthermore, Critical mass has been operating successfully for nearly 10-years under the brands Good Meds and BOSM Labs.
Integrated Cannabis, through a newly formed subsidiary, will employ CMI's assets and personnel to conduct R&D and licensing. According to Integrated Cannabis Company (ICNAF) (ICAN.CN) there will be no production or sale of products resulting from such R&D or licensing in the United States unless and until it would be federally legal to do so.
Shares of the company saw a reversal in price on Tuesday afternoon. The company's stock hit session lows of $0.60. By the end of the day, Integrated Cannabis Company (ICNAF) (ICAN.CN) bounced back by 30%.
Tilray (TLRY) shares also saw a decline over the last week or so. Earlier this month the company announced that it has completed an acquisition of its existing import and distribution partner Alef Biotechnology SpA. The acquisition is said to allow Tilray to import, produce and distribute Tilray branded medical cannabis products in Chile and to create a hub to distribute Tilray products throughout Latin America.
Tilray focuses on medical cannabis research, cultivation, processing, and distribution. Tilray is said to be the first GMP-certified medical cannabis producer to supply cannabis flower and extract products to tens of thousands of patients, physicians, pharmacies, hospitals, governments and researchers on five continents.
Over the last few weeks, shares of Tilray pulled back to lows not seen since late September.
Canopy Growth (CGC)(WEED) gained notoriety earlier this year after it received amulti billion dollar cash investment from leading beer, wineand spirits company, Constellation Brands (STZ). The company's focus, aside from servicing the Canadian market has been on expanding globally. Canopy has distribution agreements in three countries - Germany, the Czech Republicand Australia - as well as research centers in Brazil and Australia. Canopy is also exporting cannabis to five countries, including the U.S. for clinical trials. In total, the company has operations in 11 countries on five continents.
Earlier this month, Canopy announced the launch of a new brand for the recreational market in Canada, LBS. The Company has established a curated and world-recognized family of brands, both in-house and through partnerships with icons in the cannabis space. LBS is the latest exciting addition to join the family.
The LBS brand slogan -- "Worth Its Weight In Gold" -- is a reference to the care and quality put into the brand's products and also to its roots in California, the Golden State. The company name is also a nod to the shorthand for pounds. According to the company, LBS will offer a wide variety of cannabis strains and products, including flower, softgels, oil, and pre-rolls, that will be available in select stores across Canada as of October 17, 2018.
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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 42018 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. As of October 23, 2018, a member of MAPH Enterprises, which owns MarijuanaStocks.com holds 56 Call Options of Canopy Growth purchased in the open market and may be sold at any time. Please click here for full disclaimer.