CORAL GABLES, FL / ACCESSWIRE / October 18, 2018 / Wednesday marked the "big day" that every cannabisand marijuana stocks enthusiast has been waiting for. The country firmly moved ahead with its program that legalizes the sale of recreationalmarijuana across Canada. As government cannabis retailers opened from Newfoundland to British Columbia, Canadian citizens battled long lines and waited for hours to buy the first state-approved cannabis.
With an end to prohibitionin Canada, this marks a point in time that now two countries in the world have legalized cannabis for recreational use. With marijuananow available to purchase either online or in retail stores marijuana stocks are beginning to heat up. Companies like IntegratedCannabis Company (ICNAF) (ICAN), Aphria Inc. (APHQF)(APH), and Organigram Holdings (OGRMF)(OGI) have gained attention during the days prior to Canada’s legalization day.
IntegratedCannabis Company (ICNAF) (ICAN) has seen shares move from $0.67 on September 17 to highs of $1.58 just as Canada began legalizing recreational cannabis. Integrated Cannabis announced last week that it had entered into a retail-focused collaboration with New Age Farm, Inc. to deliver CBD education and innovative CBD products to the Colorado market this Fall.
IntegratedCannabis Company (ICNAF) (ICAN) with their CBD lifestyle brand X-SPRAYS[TM] and New Age Farm with their CBD lifestyle brands Kured and Fresh Water CBD will be teaming up to sell their innovative CBD products. The two companies have been working together and are ready to roll out their suite of products backed by an effort to educate and excite the public around the benefits and uses of CBD.
Integrated Cannabis Company saw pre market trades go off at $1.35, which is the same price that shares of the company closed at on Tuesday.
Aphria Inc. (APHQF)(APH.TO) has filed a Form 40-F that show it is pursuing a listing on the New York Stock Exchange. This move adds the company to a growing list of publicly traded cannabis companies that are looking to expand their public presence on a notable exchange.
Aphria growth in the first quarter of its 2019 fiscal year came in strong and includes a 35% increase in grams sold in Q1-2018, a 117% increase in revenue YOY and net income increases by more than 40% YOY.
"Aphria started fiscal 2019 by taking significant steps to solidify our position as a premier global cannabis company," said Vic Neufeld, Chief Executive Officer, Aphria. "We advanced the build out of our expansion in Leamington, signed coast-to-coast supply agreements, launched our strong portfolio of adult-use brands, and created strategic collaborations with leading companies like Perennial that will ensure Aphria continues to lead the consumer experience as the cannabis industry evolves."
Shares were up as high as $16 per share during pre market trading on Friday morning.
Organigram Holdings Inc. (OGRMF) (OGI.V) has been holding a multi-week uptrend recently. The company recently announced that it has, through its wholly-owned subsidiary 10870277 Canada Inc., executed an investment agreement dated as of October 10, 2018 with alpha-cannabis® Pharma GmbH pursuant to which the Purchaser will acquire 8,333 common shares of ACG, representing a 25% stake in the capital of ACG, for aggregate proceeds of €1,625,000. The closing is subject to certain formalities under German law largely of an administrative nature.
"As we continue to build the framework of our international medical business, finding the right partners in the right markets has been a priority for our company," stated Greg Engel, CEO at Organigram. "This relationship is a perfect example of two companies coming together towards a common goal, and we're very excited to build our business in Germany through our partners at alpha-cannabis® Pharma GmbH."
Yesterday shares jumped from lows of $4.94 to a closing price of $5.61
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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.