CORAL GABLES, FL / ACCESSWIRE / February 26, 2019 / The marijuana stock market has come quite a long way over the course of the past few years. This can be largely attributed to the fact that lawmakers and politicians who previously saw cannabis as a threat to the safety of the world, now see it as an incredibly lucrative business opportunity. In addition to the financial benefits generated by companies in the cannabis sector, the plant has a myriad of medical benefits as well. Recent studies have shown that marijuana can be used to reduce severe pain felt by cancer patients, as well as treat acute anxiety and increase appetite. Premier Health Group (OTC:PHGRF) (CSE:PHGI), Cronos Group Inc (NASDAQ: CRON, TSX: CRON.TO), Canopy Growth Corp (CGC), and Aphria Inc (NYSE:APHA) are four marijuana companies working to take the cannabis industry into the future.
Premier Health Group (OTC:PHGRF) (CSE:PHGI) primarily functions as a healthcare company focused on developing innovative healthcare approaches that combine human skill-based expertise with emerging technologies, but recently the Company has made several key investments and acquisitions to strategically enter the cannabis space.
Premier Health Group (OTC:PHGRF) (CSE:PHGI) today announced plans to expand the growth of its development team at Cloud Practice Inc. to support the Company's focus on digitizing health care. The Company recently hired four new full-time employees, three Web Software Developers and one User Interface/User Experience (UI/UX) Designer, to support the build-out of its patient-centric platform and mobile app – a beta version of which will be available by end of Q2.
Following the announcement, Dr. Essam Hamza, CEO of Premier Health Group (OTC:PHGRF) (CSE:PHGI), said, "0ur goal is to tackle the accessibility bottlenecks by putting the power in the hands of patients. Not only will our app enable patients' access to their health care providers, but also allow for cohesive patient care by coordinating and connecting all members of their health care team."
Cronos Group Inc (CRON) announced towards the end of last week that at a Special Meeting held, the Company's shareholders [overwhelmingly] approved the previously announced strategic investment agreement with Altria Group, Inc. Pursuant to the agreement, at closing, Altria will make an approximately C$2.4 billion equity investment in Cronos Group on a private placement basis in exchange for common shares in the capital of the Company.
Altria will also receive Warrants of Cronos Group, that if fully exercised, would provide the Company with an additional approximately C$1.4 billion of proceeds. The Shares issuable to Altria will result in Altria holding an approximately 45% ownership interest in Cronos Group (calculated on a non-diluted basis) and exercise of the Warrants would result in incremental ownership of 10% for a total potential ownership position of 55%.
Canopy Growth Corp (CGC) announced earlier this week it has named Hilary Black as its Chief Advocacy Officer, effective immediately. In her expanded role, Hilary's mandate includes driving patient advocacy efforts worldwide, executing the Company's global corporate social responsibility strategy, and leading the implementation of best practices for diversity & inclusion.
In response to her appointment, Hilary Black, Chief Advocacy Officer, Canopy Growth, said, "for my entire adult life, I have broken down barriers so that patients could access cannabis. Being with Canopy Growth has exponentially amplified these efforts. I feel a tremendous sense of responsibility and privilege to build on this legacy of compassion and carry out a mandate that will improve the lives of patients around the world."
Aphria Inc (APHA) found itself in headlines today when the Company announced a worldwide license agreement with Manna Molecular Science, LLC, producers of state-of-the-art cannabis transdermal patches. Leveraging Manna's established formulations, equipment, and processes, Aphria will produce and sell patches containing cannabis oils for its established suite of medical and adult-use brands.
Jakob Ripshtein, President of Aphria, said, "as we continue to expand its use from product to ingredient, we are excited to offer innovative new ways for consumers to interact with cannabis. As a company at the forefront of cannabis innovation, Manna Molecular Science will be an important strategic partner for Aphria. Like us, they are committed to making safe, high-quality cannabis products available to a wide array of global consumers."
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