CORAL GABLES, FL / ACCESSWIRE / March 18, 2019 / The marijuana stock market has demonstrated in the first few months of 2019 that the cannabis industry, despite its nascent characteristics, is very much a force to be reckoned with. As a result of lawmakers advocating for, and subsequently passing, legislation in favor of cannabis legalization, companies in the industry have made key investments in products and services, all of which for the purpose of giving all benefits to the consumer. Considering that marijuana is currently flagged as a Schedule I narcotic by the U.S. government, one would assume that this would dampen the progress of the cannabis sector, but, in fact, cannabis companies are showing no signs of slowing down. Next Green Wave Holdings Inc (NXGWF) (NGW), CBD Unlimited Inc (OTC PINK: EDXC), Auxly Cannabis Group Inc (CBWTF), and HEXO Corp (NYSE American: HEXO) (HEXO) are 4 pot stocks hitting the ground running on Monday.
Next Green Wave Holdings Inc (NXGWF) (NGW) is a vertically integrated seed-to-consumer premium medicinal and recreational cannabis company operating in California, the world's largest cannabis market. The Company currently owns and operates over 15 acres of cannabis-zoned development land is nearing completion on its first proprietary engineered 35,000 sq. ft. facility.
Next Green Wave Holdings Inc (NXGWF) (NGW) today announced an update to its consumer products good strategy since announcing its 100% acquisition of California-based SD Ventures, LLC on March 12, 2019. Per the details of the update, the Company is focused on integrating SDC's 8 brands, 45 THC and CBD products, extraction and manufacturing team while calibrating its recently completed 35,000 sq. ft Facility A.
Leigh Hughes, Chief Executive Officer of Next Green Wave Holdings Inc (NXGWF) (NGW), said, "this is a very exciting but important time for Next Green Wave as we now enter the execution phase of our wider strategy of being a premium producer of high-quality downstream products into the California market. Our recent acquisition of SDC fast tracks our vision to be a powerhouse in consumer products goods in cannabis, and the whole combined team is focused on activating operations, generating revenue through the sale of our first products, and establishing our distribution network.."
CBD Unlimited Inc (EDXC), a provider of innovative phytonutrient-based foods and nutritional products, today announced the completion of its FDA label review for entrance into the pharmacy, food, and mass retail sectors. Following the completion of its FDA label review, CBD Unlimited submitted vendor applications for mass retail and distribution channels. CBD Unlimited recently disclosed a 20% growth rate from retailers.
Following the announcement, Todd Davis, Chief Executive Officer and Chairman of CBD, stated, "we are thrilled to complete this stage of our FDA label review as we expand into the pharmacy, food, and mass retail centers. Label revisions will be ongoing as the regulations for the hemp industry develop. With our new labeling, we expect to continue expanding across several channels – nationally and internationally."
Auxly Cannabis Group Inc (CBWTF) announced last week that its streaming partner, Lotus Ventures Inc, has been granted a standard cultivation license and a sale for medical purposes license by Health Canada pursuant to the Cannabis Act and Cannabis Regulations.
Hugo Alves, President of Auxly, commented, "we want to congratulate Dale, Stephen, Scott, Carl, Monica and the rest of the Lotus team on obtaining their Cannabis Act licenses! This is an important step for Auxly as we continue to diversify our supply chain, utilizing a network of subsidiaries and partners to provide reliable sources of diverse raw product. Lotus is a partner that we value deeply, being one of Auxly's first streaming partners. We look forward to continuing to work closely with the team at Lotus during these exciting new phases of their business."
HEXO Corp (HEXO) last week reported its financial results for the second quarter of the 2019 fiscal year, the Company's first full quarter following the legalization of adult-use cannabis in Canada. During the quarter ended January 31, 2019, the Company announced that its 1,000,000 sq. ft. greenhouse expansion reached construction and licensing milestones. The first harvest from the facility is expected later this month and will allow HEXO to continue ramping up to an annual production capacity of 108,000 kg of dried cannabis annually.
The Company earlier this month announced an agreement to acquire Newstrike Brands Ltd. This transaction was unanimously approved by the board of directors of both HEXO Corp and Newstrike Brands Limited. The acquisition will provide HEXO Corp capacity to produce approximately 150,000 kg of high-quality cannabis annually with access to four cutting-edge production campuses. It also provides the Company diversified domestic market penetration with combined distribution agreements in eight provinces.
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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 Next Green Wave (NGW), Midam has been paid $150,000 from Next Green Wave (NGW) for a period from October 1, 2018, to November 8, 2018. Midam has been compensated an additional $100,000 and has extended its period of coverage to December 8, 2018. Midam has been compensated an additional $75,000 and has extended its period of coverage to January 8, 2019. Midam has been compensated an additional $50,000 and has extended its period of coverage to February 8, 2019. Midam has been compensated an additional $100,000 and has extended its period of coverage to April 12, 2019. We may buy or sell additional shares of (NGW) in the open market at any time, including before, during or after the Website and Information, to provide public dissemination of favorable Information about Next Green Wave. For disclaimer information, click here.
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