CORAL GABLES, FL / ACCESSWIRE / March 20, 2019 / The marijuana stock market has enjoyed copious amounts of attention via headlines related to cannabis companies flourishing in the first few months of 2019. Whereas in the past, society largely condemned cannabis and refused to consider the potential benefits of investing in cannabis and/or utilizing cannabis products, those feelings are slowly dissipating. The positive shift in public opinion can be attributed to the fact that the medical community has released data supporting the use of cannabidiol as a form of alternative treatment, given its effectiveness as an anti-inflammatory. Like other sectors whirring with innovation, the cannabis industry is rapidly progressing into the future and, rather than be left behind, investors looking for potential opportunities may want to keep cannabis companies on their radars. Next Green Wave Holdings Inc (NXGWF) (NGW), Can-Fite BioPharma Ltd (NYSE American: CANF), Tilray Inc (TLRY), and GrowGeneration Corp (GRWG) are 4 pot stocks worth keeping on your radar this week.
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) made headlines today when the Company announced an update on the final stages of its 35,000 sq.ft production facility (site "A") moving towards the granting of its final certificate of occupancy by the City of Coalinga. Per the specific details of their update, Pacific Gas and Electric is in the final testing phase of the completion of the electrical installation which is expected to be carried out within a week. Thereupon, the Company can move forth with a scheduled final inspection of the facility conducted by the City of Coalinga in order to receive its occupancy permit.
Following the announcement, Leigh Hughes, CEO of Next Green Wave Holdings Inc (NXGWF) (NGW), said, "after a very focused 11 months of build-out, we are now only weeks away from activating our operations in California and one step closer to becoming a fully integrated premium producer. With the extreme weather challenges that PG&E have faced throughout the State of California in 2019, we are thankful for the extra attention they have placed on this project."
Can-Fit BioPharma (CANF), a biotechnology company advancing a pipeline of small molecule drugs that, like medicinal cannabis, address cancer, liver, and inflammatory diseases, in mid-February announced the expansion of its distribution agreement with Chong Kun Dang Pharmaceuticals in South Korea, for the indication of non-alcoholic steatohepatitis.
Per the details of the announcement, CKD will receive exclusive rights to distribute Namodenoson for the treatment of NASH in addition to liver cancer in South Korea. CKD has agreed to pay Can-Fite $1 million upfront upon signing, with up to an additional $5 million upon achieving certain regulatory and sales milestones. Can-Fite will also be entitled to a transfer price for delivering the finished product to CKD.
Tilray Inc (TLRY) earlier this week reported financial results for the fourth quarter and year ended December 31, 2018. Over the course of last year, the Company's revenue increased to $15.5(C$20.9) million, up 203.8% compared to the fourth quarter of last year, driven by bulk sales, inaugural sales in the Canadian adult-use market and accelerated wholesale distribution in export markets.
Brendan Kennedy, President, and CEO of Tilray, said, "2018 was a very successful year for Tilray with many corporate milestones. Our team made significant progress on our long-term initiatives including increasing production capacity, expanding and strengthening strategic partnerships, and acquiring complementary businesses to accelerate our future growth and leadership position in medical and adult-use cannabis."
GrowGeneration Corp (GRWG), one of the largest specialty retail hydroponic and organic gardening chain of stores, selling to both the commercial and home cannabis markets, announced in early February that the Company had acquired the assets of Reno Hydroponics.
Following the announcement, Darren Lampert, CEO, and Co-founder ofGrowGeneration, stated, "Reno becomes GrowGen's 2nd location in Nevada and the company's 23rd store. As a recreational legal market, Reno is a prime area for GrowGen, with an increasing number of dispensaries and cultivators. We continue to enter markets, where the cultivation laws are conducive to growing, and where GrowGen can strategically locate its operations, in areas where there are a high concentration of growers. Our growth plan is working."
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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,
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