CORAL GABLES, FL / ACCESSWIRE / December 28, 2018 / The cannabis market has been one of the most interesting and exciting markets to watch over the course of the last few years. Everything from Canadian legalization to individual states in the U.S. passing similar legislation will likely have a large beneficial effect on the future of the industry. As 2019 approaches, Premier Health Group (OTC:PHGRF) (CSE:PHGI), Aphria Inc (APHA), Canopy Growth Corp (CGC) (WEED.TO), and Charlotte's Web Holdings Inc (CWBHF) are 4 pot stocks to look into on Friday.
Premier Health Group (OTC:PHGRF) (CSE: PHGI) saw impressive gains as it hit highs of 0.80 to mark a move of more than 30% over the course of the last 30 days. As the cannabis sector has garnered notoriety and favorable public opinion, the Company has been focusing its efforts on looking into opportunities that combine healthcare and cannabis. The Company announced, back in November, that it had engaged discussions with Licensed Producers under the Access to Cannabis for Medical Purposes Regulation, other licensed medical cannabis companies, and government officials in order to establish a primordial framework for both patient and physician education surrounding medical cannabis.
In addition to this news, last week, Premier Health Group (OTC:PHGRF) (CSE: PHGI) announced that as part of its growth strategy to cover major verticals associated with the healthcare sector, the Company signed a binding letter of intent to acquire all outstanding securities of Cloud Practice Inc.
''With over 110,000 active patients in our clinic ecosystem, it is important that we provide them with the best possible information that allows them to make informed decisions about their personal and family's health. Providing our family physicians with the appropriate tools and knowledge to prescribe cannabis or with the ability to refer patients to a specialist within our clinics is a key outcome of this initiative," said Dr. Essam Hamza, CEO of Premier Health.
Aphria Inc (APHA) will hit the headlines today as the Company just announced, via an official press release, that it will respond to the unsolicited proposal by Xanthic Biopharma Inc d.b.a. Green Growth Brands Ltd. to acquire all of the Company's outstanding common shares in the all-stock transaction.
The Company's board politely rejected the offer in their official statement: "Irwin Simon, Chair, said, "While we appreciate GGB's interest in the value we have created at Aphria and our significant growth prospects, their proposal falls short of rewarding our shareholders for participating in such a transaction. Further, the proposed offer is quite risky given GGB's condition to complete a brokered financing at a price that is more than double the recent average of their share price, as a key term to the proposal."
Canopy Growth Corporation (CGC) (WEED.TO), like many other cannabis companies interested in hemp legislation, provided its own feedback earlier this month regarding the recent enactment of the US Farm Bill, containing the language of the Hemp Farming Act of 2018.
Bruce Linton, Chairman, and Co-CEO commented, "Canopy Growth commends the United States government for passing the Farm Bill, a transformative piece of legislation that will create jobs and meaningful economic impact across the United States. Canopy Growth will participate in the American market now that there is a clear federally-permissible path to the market. Consistent with the spirit of the Farm Bill, Canopy Growth will participate in ways that support American farmers."
Charlotte's Web Holdings, Inc. (CWBHF), following suit of other brands in the industry, reported material improvements in its business outlook following the passing of the 2018 Farm Bill earlier this month. Considering that under the Farm Bill, hemp is permanently removed from the Controlled Substances Act and out of the jurisdiction of the Drug Enforcement Administration, hemp will now become an agricultural commodity.
"The passing of the Farm Bill is transformational for the industry allowing for the national cultivation, production, distribution and marketing of hemp-derived products in the United States," stated Hess Moallem, President and CEO of Charlotte's Web. The Farm Bill provides the added legal clarity necessary to expand our distribution reach. Hemp's removal from the CSA has been a core legal requirement for many national retailers wanting to carry whole-plant hemp extracts. Removing the social stigma linked with being a "controlled substance" and having the ability to attain organic certification under the USDA will help to grow consumer acceptance.
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