Four Marijuana Stocks Making Moves On Thursday
CORAL GABLES, FL / ACCESSWIRE / February 28, 2019 / The marijuana stock market has seen a bullish run over the course of the past few years, namely because companies in the industry have demonstrated their ability to implement innovation and creative approaches to their product offerings. Perhaps the most significant threshold the cannabis industry crossed was shifting public opinion so that society now views cannabis with a more favorable sense of understanding. To put it lightly, acceptance of cannabis in domestic markets as well as in Canada has never been higher. Given that the majority of U.S. states have put forth legislation in favor of legalization, more companies in the cannabis sector are seeing success. CLS Holdings USA Inc (CLSH), Canopy Growth Corp (CGC) (WEED), Aurora Cannabis Inc (NYSE:ACB) (TSX:ACB), and OrganiGram Holdings (OGRMF) are 4 pot stocks worth keeping on your radar.
CLS Holdings USA Inc (CLSH) is a diversified cannabis company operating as Cannabis Life Sciences and an integrated cannabis producer and retailer in Nevada through its Oasis Cannabis subsidiaries. Like other companies in the cannabis industry, CLS is taking advantage of the recent boom in the excitement surrounding marijuana and its countless uses for improving the quality of life for consumers.
CLS Holdings USA Inc (CLSH) today announced that the Company has redeemed all of its convertible debentures issued to YA II PN, Ltd., "Yorkville", a Cayman Island exempted limited partnership, which was issued on May 14, 2018, and July 20, 2018. Pursuant to the terms of the debentures, the investor generally was able to convert any portion of the principal and accrued interest under the debentures into CLS Common Stock at a fixed conversion price of $0.40 per share.
Per the details of the announcement, through the redemption of the debentures for total cash consideration of $964,787, CLS Holdings USA Inc (CLSH) has eliminated the potential issuance of approximately 2.5 million shares of CLS stock that would be immediately eligible for resale
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Canopy Growth Corp (CGC) (WEED) and Sequential Brand Groups Inc today announced that Martha Stewart has joined the Company in an advisory role to assist with developing and positioning a broad new line of product offerings across multiple categories. With several clinical trials underway, Canopy Growth will be leaning on Martha's vast knowledge of consumer products while exploring the effectiveness of CBD and other cannabinoids as they relate to improving the lives of both humans and animals.
Following the announcement, Martha Stewart commented, "I am delighted to establish this partnership with Canopy Growth and share with them the knowledge I have gained after years of experience in the subject of living. I'm especially looking forward to our first collaboration together, which will offer sensible products for people's beloved pets."
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Aurora Cannabis Inc (ACB) announced earlier this week that it has agreed to terms to acquire a 51% ownership interest in Gaia Pharm Lda., a license applicant in Portugal, to establish a local facility to produce medical cannabis and derivative products. The company will be renamed "Aurora Portugal Lda". On February 21, 2019, Gaia Pharm Lda. received approval of its application to construct an EU GMP compliant cannabis cultivation facility from INFARMED, a division of the Portuguese Health Ministry, which is responsible for the evaluation, authorization, regulation and control of human medicines as well as health products for the protection of public health.
Terry Booth, CEO of Aurora Cannabis, stated, "with the addition of this new project, we are now active in 24 countries, which we believe represents the largest global footprint of any cannabis company. Aurora's reputation in the medical cannabis sector, bolstered by the high quality of our products and our commitment to medical and plant research, provides distinct advantages in establishing significant market share in the rapidly growing European market."
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OrganiGram Holdings Inc (OGRMF) yesterday announced that the Company has elected to exercise its right under the indenture governing the Company's 6.0% convertible unsecured debentures due January 31, 2020, to convert all of the principal amount outstanding of the remaining Debentures on April 1, 2019, into common shares of the Company.
Per the terms of the indenture, the Company may force the conversion of the Debentures at the conversion price of $5.42 per Common Share when the volume weighted average trading price of the Common Shares on the TSX Venture Exchange for 10 consecutive trading days exceeds $7.05.
For More Information On OrganiGram Holdings Inc, Click Here
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Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. MAPH Enterprises LLC which owns www.MarijuanaStocks.com is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release.
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. Pursuant to an agreement between an affiliate of MAPH Enterprises, LLC (owners of MarijuanaStocks.com), Midam Ventures LLC and CLS Holdings USA Inc. (CLSH), Midam has been paid $100,000 from CLS Holdings USA Inc. (CLSH) for a period from November 30,2018 to December 30, 2018. We have been compensated an additional $100,000 (CASH) from CLS Holdings USA extending the contract another 30 days ending January 31, 2019. We have been compensated an additional $100,000 (CASH) from CLS Holdings USA extending the contract another 30 days ending February 28, 2019. We may buy or sell additional shares of (CLSH) in the open market at any time, including before, during or after the Website and Information, to provide public dissemination of favorable Information about CLS Holdings USA Inc. (CLSH).
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