CORAL GABLES, FL / ACCESSWIRE / February 1, 2019 / The marijuana stock market has garnered copies amounts of media attention over the course of the past few years, as more people have come to understand the variety of benefits from cannabis usage. Medical experts and healthcare professionals have begun to take cannabis mores seriously as a form of treatment, given its incredible abilities as an anti-inflammatory, as well as other medicinal benefits. Recently, in both the domestic and global political spheres, legislators have been pushing new laws in favor of legalizing marijuana, and as a result, this has catalyzed significant investor excitement for individuals looking for potential opportunities in the space. Premier Health Group (OTC:PHGRF) (CSE:PHGI), Aurora Cannabis Inc (NYSE: ACB, TSX: ACB), Aphria Inc (APHA), and Tilray Inc (TLRY) represent four cannabis companies determined to develop nuanced approaches for integrating cannabis as a means for improving the quality of life for consumers.
Premier Health Group (OTC:PHGRF) (CSE:PHGI) is a company focused on developing innovative approaches that combine human skill-based expertise with state-of-the-art technologies used throughout the healthcare industry to create the best-possible care solutions for their growing patient network.
The Company has seen impressive gains over the last few months as a result of momentum gained from several key strategic investments meant to showcase to the industry that Premier is prepared to meet the growing demands of consumers in the healthcare sector by investing in product and services to further their care offerings.
Premier Health Group (OTC:PHGRF) (CSE:PHGI) announced earlier this week that, further to its new release dated January 10, 2019, the Company has acquired all outstanding securities of Cloud Practice Inc. As a result of the acquisition, Cloud Practice's Founders, including CEO Jordan Visco, and entire support team, consisting of several software developers and sales staff, will join and work alongside the Premier Health team to offer tools and resources providing for better efficiency on a day-to-day basis for both physicians and customers.
Per the official details of the agreement, Premier will pay to the Cloud Practice shareholders total consideration of up to $5 million, $2 million dollars in cash to be paid out as follows: (i) $500,000 paid in cash on signing of the binding LOI as a refundable deposit, (ii) $500,000 in cash payable on closing, (iii) $500,000 in cash payable 90 days after closing, (iv) $500,000 in cash payable within six months of the LOI subject to the satisfaction of certain milestones related to the integration of the Juno EMR, and $3 million payable in common shares of Premier at a deemed price of $0.76 per share.
Dr. Essam Hamza, CEO of Premier Health Group (OTC:PHGRF) (CSE:PHGI), commented, "we are very excited to have completed this acquisition and to have the experienced team at Cloud Practice join the team at Premier Health. With this acquisition, we now have a medical software company with national reach. Thus, enabling us to build on our patient-centric technology platform that will integrate telemedicine, online booking, and other premium services with our electronic medical records (EMR) system."
Aurora Cannabis Inc (ACB) has dominated the headlines this month following the Company's announcement that it had closed its previously announced offering of 5.5% convertible senior notes due 2024 for gross proceeds of US$345 million(including US$45 million pursuant to the exercise of the initial purchasers' over-allotment option). The notes were issued at par value.
Per the details of the offering, Aurora informed the public, as well as investors in the space, that the Company expects to use the net proceeds from the offering of the notes to support its Canadian and international expansion initiatives, for future acquisitions and for general corporate purposes, including working capital requirements to continue the Company's accelerated growth.
Aphria Inc (APHA) saw an impressive day in the market on Thursday, with shares soaring over 14%, closing the day out at $8.74 per share. Many believe the increase was stimulated by the growing anticipation regarding Green Growth Brand's unsolicited takeover bid from earlier this month, at which time the Company announced plans to acquire all outstanding common shares of Aphria, other than the common shares of the Company owned by GGB or its affiliates, in exchange for 1.5714 common shares of GGB.
At the time of the announcement, the Aphria Board stated that it had determined that GGB's unsolicited proposal significantly undervalued the Company relative to its current and future value. Based on the 20-day volume weighted average price of GGB shares before GGB's initial proposal and the expressed exchange ratio of 1.5714 common shares of GGB for each Aphria share, the Offer reflects a discount of -23% to the Company's average share price over the same period.
Tilray Inc (TLRY) announced earlier this week that in one effort to maintain a strong, well-functioning global senior leadership team, the Company had made four new strategies hires: Greg Christopher as EVP of Operations, formerly with Nestle; Rita Seguin as EVP of Human Resources, formerly with Diageo; Dara Redler as General Counsel, formerly with The Coca-Cola Company; and Charlie Cain as VP of Retail, formerly with Starbucks Corporation.
Following the Company's announcement, Tilray CEO Brendan Kennedy said, "Greg, Rita, Dara and Charlie come to Tilray with robust expertise in their respective fields and we look forward to their contributions as we pioneer the future of cannabis around the world."
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