CORAL GABLES, FL / ACCESSWIRE / December 10, 2018 / Marijuana stock investors are paying close attention to markets this week. An outcome to the Farm Bill as well as anticipation of what's to come following a $1.8 billion investment by Altria into the cannabis arena have sparked new interest. This year has been one of "firsts" for the marijuana industry as many have already seen.
Cannabis legalization across Canada, as well as new states in the US going legal, have helped to build new attention on the industry. With the cannabis industry expected to reach $146.4 billion by end of 2025, according to a new report by Grand View Research, Inc, there will surely be a number of pot stocks to watch.
Premier Health Group (PHGRF) (PHGI) announced today that as a part of its growth strategy to cover the major verticals associated with primary care, it has signed a binding Letter of Intent to acquire a Vancouver, British Columbia based pharmacy. Premier Health Group (PHGRF) (PHGI) said that it expects the acquisition to close in or about Q1-19.
"We are excited for this opportunity to acquire our first pharmacy, and thereafter being able to prepare and deliver prescription and non-prescription pharmaceuticals and other health products to patients. In doing so, the pharmacist will play an integral role in our team-based patient-centric model," said Dr. Essam Hamza, CEO of Premier.
Premier Health Group (PHGRF) (PHGI) recently engaged discussions with Licensed Producers under the Access to Cannabis for Medical Purposes Regulation, other licensed medical cannabis companiesand government officials in order to establish a framework for both patient and physician education.
In line with other pharmacy focused companies, this move could prove to beand exciting one for Premier Health Group (PHGRF) (PHGI). The Canadian medical cannabis clinic market is estimated to be worth approximately $2.35 billion by 2025. With this in mind, the company said that it expects to provide additional updates on acquisitions in Q4-18 and Q1-19.
The company currently has an ecosystem of over 100,000 active patients and has plans to rapidly increase that number both domestically and internationally.
Since the beginning of the month, shares of Premier Health Group (PHGRF) (PHGI)have jumped from $0.56 to highs of $0.71 on Monday.
HempAmericana, Inc (HMPQ) saw its share price and volume increase on Monday. The company recently announced the installation of a new high-precision Solvent Recovery Machine into the core processing and extraction equipment line at its state-of-the-art CBD production facility in Augusta, Maine.
HempAmericana CEO, Salvador Rosillo, stated, "We are moving toward our goal of full-scale production of 99% pure CBD at high-capacity. We believe we have the capability of assuming a leadership role in this $2.1 billion industry over the next several quarters, and this new equipment represents one of the final pieces of the puzzle in achieving that goal."
The Company owns and operates a high-capacity, state-of-the-art CBD extractionand processing facility located in Augusta, Maine.
Liberty Health Sciences Inc. (LHSIF) (LHS) saw increased activity especially in the Canadian market on Monday. The company announced this month that they experienced an increase in sales revenue in the quarter ended November 30,2018 compared to the same period in the prior year. For the quarter ended November 30, 2018, revenue increased by 45% compared to the quarter ended August 31, 2018.
Liberty's recent quarterly revenue totaled $3.2 million and its fiscal year-to-date revenue totaled $6.5 million. This continued growth in revenue reflects the Company's improvement on returning patient count and the expanding dispensary base, as well as the strength of its partnerships with best-in-class brands such as PAX and Mary's Medicinals.
Shares hit highs of $0.98 in Canada and moved as high as $0.73 in the US.
Cronos Group Inc. (CRON) has helped boost market sentiment over the last few days. Late last week the company announced that it had received a USD$1.8M investment from Marlborough maker Altria (MO).
"This strategic partnership provides Cronos Group with additional financial resources, product developmentand commercialization capabilities, and deep regulatory expertise to better position the Company to compete, scale and lead the rapidly growing global cannabis industry," Cronos said in a statement.
Since December 3, shares of Cronos have increased in price from lows of $8.51 to highs of $13.95.
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