CORAL GABLES, FL / ACCESSWIRE / February 6, 2019 / The marijuana stock market has managed to demonstrate its strength despite the fact that, at times, the conversation surrounding cannabis has been less than beneficial. The market has remained incredibly positive, with this new year showing even more signs of growth than ever before. As a result of the momentous passing of laws such as the US Farm Bill, which legalized mass agricultural production of hemp, as well as Canada's country-wide legalization, individuals who would otherwise scoff at the cannabis industry, have now been brought into the fold due to the excitement surrounding the industry. The cannabis sector as a whole is predicted to be worth as much as $31 billion by the year 2022, which means that, as we move forward, investors looking for potential opportunities could benefit from keeping tabs on the nascent industry. Nabis Holdings (INNPF) (NAB), Aurora Cannabis Inc (ACB), Aphria Inc (APHA), and Canopy Growth Corp (CGC) are four cannabis companies worth keeping on your radar on Wednesday.
Nabis Holdings (INNPF) (NAB) is a Canadian investment company focused on investing in high-quality cash flowing and strategic assets across multiple aspects of the cannabis sector primarily in the U.S. limited license states with a roadmap to expand globally. In terms of the Company's corporate strategy, Nabis' framework was born from a desire to allow the company to enable identifying and acquiring majority interests across the entire vertically integrated aspects of the space with a focus on strategic revenue generation, EBITDA and growth.
Nabis Holdings (INNPF) (NAB) today announced that the Company has entered into a binding term sheet with Momentum Ideas Co to acquire certain assets used and marketed under the brandBloombox, including the Bloombox Software and data platform. Nabis' acquisition ofBloombox will create a dominating presence in the growing U.S. cannabis market, featuring an integrated ecosystem of modern, next-generation technology.
Per the details of the agreement, theBloombox team will work closely with Nabis Holdings (INNPF) (NAB), including Sam Gammon, the Company's inbound Chief Technology Officer following the closing of the Investment.
Shay Shnet, Chief Executive Officer and Director of Nabis Holdings (INNPF) (NAB), said, "
Aurora Cannabis Inc (ACB) found itself in headlines earlier this week when the Company announced that its extraction technology partner,Radient Technologies, has recently received its Standard Processing License from Health Canada. In addition to the granting of the licensure,Radient announced the appointment of Aurora's COO Allan Cleiren to its Board of Directors.
Denis Taschuk, CEO of Radient, commented, "our partnership with Aurora has been instrumental these past two years towards achieving this milestone. With our license granted, operations at our commissioned Edmonton I facility are now commencing. We are scaling up our operations further with the construction of our Edmonton II and III facilities, and we look forward to executing on our partnership with Aurora on a global scale."
Aphria Ina (APHA) today announced that after spending the necessary amount of time discussing all possible outcomes, the Company has rejected the hostile bid by Green Growth Brands Inc to acquire all of the outstanding common shares of the Company including any Common Shares that may become issued and outstanding after January 22, 2019, but prior to the expiry of the hostile bid upon the exercise, conversion or exchange of options, warrants, debentures or other securities of the Company exercisable or convertible into Common Shares, other than Common Shares owned by GGB or its affiliates, in exchange for 1.5714 shares of GGB.
Following the Company's announcement of their decision, Irwin Simon, Aphria's independent Board Chair, said, "regardless of their brazen attempts to suggest otherwise, GGB is asking Aphria shareholders to accept a substantial discount on their shares, as well as delisting from both the TSX and NYSE, resulting in a vast dilution of their ownership in Aphria. In return, GGB offers shares in an illiquid company with limited operating history, minimal assets and no track record in the cannabis industry."
Canopy Growth Corp (CGC) announced earlier this month several key updates regarding the Company's progress in the growing European cannabis markets. Specifically, the Company spoke updates related to the UK and Poland where its medically-focused business Spectrum Cannabis continues to build a sophisticated, pan-European cannabis production and distribution network serving the needs of physicians and their patients throughout the continent.
In regards to the Company's expansion of its operations into Poland, Canopy Growth's Toruń-based team, Spectrum Cannabis Polska, successfully completed its first import of medical cannabis after completing a rigorous regulatory approval process to have the product assessed and approved for sale. Per the details of the announcement, Spectrum Cannabis Polska is a new entity and the fifth of its kind for the Company in European markets. According to the Polish Pharmaceutical Chamber, which represents about 15,000 pharmacies in Poland, it is estimated that up to 300,000 patients could qualify for medical cannabis treatment.
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