CORAL GABLES, FL / ACCESSWIRE / March 21, 2019 / The marijuana stock market has recently responded to the fact that the cannabis companies are seeing an exponential increase in acquisitions and mergers throughout the industry. Many companies in the cannabis sector have elected to utilize their resources to acquire smaller, more nuanced companies in an effort to produce a more vertically-integrated business model overall. Through a successful acquisition or merger, a cannabis company will have a better shot at ensuring that they are creating high-quality products, as well as help bolster their profit margins in both and short and long-terms. Even though 2019 is only a few months old, analysts are saying that this could be the year for the cannabis industry, and companies in the space are taking the necessary steps to build out their businesses ahead of the potential excitement. Leafbuyer Technologies Inc (LBUY), CV Sciences Inc (CVSI), Trulieve Cannabis Corp (OTC PINK: TCNNF) (TRUL.CN), and GW Pharmaceuticals plc (NASDAQ:GWPH) represent 4 marijuana stocks leading the industry on Thursday.
Leafbuyer Technologies Inc (LBUY) is the most comprehensive online resource for information related to cannabis, as well as how to procure products currently available on the market. Nowadays, consumers depend on online resources to research the products they are interested in buying and, prior to Leafbuyer's platform, there hadn't been a reliable source for information on cannabis and related products. In recognition of this growing trend to do one's homework, Leafbuyer has become the authority on cannabis-related information.
Leafbuyer Technologies Inc (LBUY) today announced the total number of Greenlight platform users has reached nearly 80,000. The statement follows a March 13, 2019, release announcing Leafbuyer's rollout of the Greenlight technology in Colorado and Oklahoma. For those unfamiliar with Greenlight, the platform allows users to order ahead and earn loyalty points at participating dispensaries. The technology allows for significant increases in customer retention and overall customer satisfaction.
Following the announcement, Kurt Rossner, Chief Executive Officer of Leafbuyer Technologies Inc (OTC:LBUY), said, "the rapid geographic implementation of the Greenlight technology and a large number of users is encouraging. Developments are underway to bring new features to the platform that are expected to be a catalyst for continued revenue growth. We plan to expand the footprint further and optimize this technology to make it a staple in every legal market across the country."
CV Sciences Inc (CVSI) earlier this month announced its financial results for the year ended December 31, 2018. Over the course of 2018, the Company generated $12.6 million of cash from operations, with cash balance increasing to $12.7 million at year end.
Joseph Dowling, Chief Executive Officer of CV Sciences, said, "we finished 2018 with strong sales momentum and enter 2019 well positioned to capitalize on the rapidly growing consumer awareness and broad based demand for hemp CBD products. We generated 133% revenue growth during 2018 and expanded the availability of the PlusCBD™ brand to over 2,200 stores nationwide. we are positioning our company to capitalize on this incremental growth opportunity with enhancements to our leadership team and business systems, and are in the planning process for expanded production and fulfillment capabilities to support rising demand."
Trulieve Cannabis Corp (TCNNF) (TRUL), a leading and top-performing cannabis company in the United States, announced several changes to its management team earlier this month. Eric Powers has been named General Counsel and Corporate Secretary of Trulieve, Inc., the Company's wholly-owned Florida subsidiary. Prior to joining Trulieve, Mr. Powers spent 13 years as an in-house attorney for Crawford & Company, a publicly-traded insurance services firm, where he served in numerous roles within the legal department, most recently as Vice President and Corporate Secretary.
In addition to Mr. Power's appointment, Kevin Darmody, the Company's current Director of Investor Relations, is transitioning into the Chief Operating Officer role where he will be responsible for all Trulieve operations throughout the United States. Mr. Darmody will be replaced in his current Investor Relations role by Lynn Ricci.
GW Pharmaceuticals plc (GWPH), an industry leader in the development and commercialization of cannabinoid prescription medicines, earlier this week announced that GW Research Ltd. has entered into a definitive agreement to sell its Rare Pediatric Disease Priority Review Voucher for $105 million. The Company was awarded the voucher under a U.S. Food and Drug Administration program intended to encourage the development of treatments for rare pediatric diseases. GW Research Ltd. received the PRV when EPIDIOLEX® was approved by the FDA for the treatment of seizures associated with Lennox-Gastaut Syndrome or Dravet syndrome, two rare, severe childhood-onset epilepsies.
Following the announcement, Justin Gover, GW's Chief Executive Officer, said, "having successfully developed and launched EPIDIOLEX as the first plant-derived cannabinoid medicine approved by the FDA, GW is advancing a pipeline of additional cannabinoid products to address patient needs across a range of therapeutic areas. The sale of the PRV provides an important source of non-dilutive capital to help advance our pipeline and to continue to invest in the EPIDIOLEX commercial launch in both the U.S. and Europe."
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MAPH Enterprises LLC, which owns www.MarijuanaStocks.com, may from time to time have a position in the securities mentioned herein and may increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice. MAPH Enterprises LLC, which owns www.MarijuanaStocks.com, may be compensated for its services in the form of cash-based compensation or equity securities in the companies it writes about, or a combination of the two. Midam has been paid an additional $50,000 and 40,000 common restricted shares of Leafbuyer Technologies, Inc. extending the contract another 30 days ending December 31, 2018. Midam has been compensated an additional $50,000 by Leafbuyer Technologies and has extended its period of coverage to January 31, 2019. Midam has been compensated an additional $50,000 by Leafbuyer Technologies and has extended its period of coverage to March 1, 2019. Midam has been compensated an additional $50,000 by Leafbuyer Technologies and has extended its period of coverage to April 1, 2019. We own 77,000 shares of Leafbuyer Technologies. We may buy or sell additional shares of (LBUY) in the open market at any time, including before, during or after the Website and Information, to provide public dissemination of favorable Information about Leafbuyer Technologies Inc.
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