"For too long, the outrageous and outdated ban on growing hemp has hamstrung farmers in Oregon and across the country," Sen. Ron Wyden said. "Hemp products are made in America, sold in America, and consumed in America. Now, hemp will be able to be legally grown in America, to the economic benefit of consumers and farmers in Oregon and nationwide."
Cannabis stocks have seen a new uptrend in light of this recent legislative move.
Premier Health Group (PHGRF) (PHGI) hit highs of $0.80 on Wednesday, up from just $0.53 at the end of October and just $0.59 on December 9. Premier Health Group (PHGRF) (PHGI) announced this week that as a part of its growth strategy to cover the major verticals associated with primary care, it has signed a binding Letter of Intent to acquire a Vancouver, British Columbia based pharmacy. Premier Health Group (PHGRF) (PHGI) said that it expects the acquisition to close in or about Q1-19.
In line with other pharmacy focused companies, this move could prove to be an exciting one for Premier Health Group (PHGRF) (PHGI). The Canadian medical cannabis clinic market is estimated to be worth approximately $2.35 billion by 2025.
"We are excited for this opportunity to acquire our first pharmacy, and thereafter being able to prepare and deliver prescription and non-prescription pharmaceuticals and other health products to patients. In doing so, the pharmacist will play an integral role in our team-based patient-centric model," said Dr. Essam Hamza, CEO of Premier.
The company currently has an ecosystem of over 100,000 active patients and has plans to rapidly increase that number both domestically and internationally.
Since the beginning of the month, shares of Premier Health Group (PHGRF) (PHGI)have jumped from $0.56 to highs of $0.79 on Tuesday.
Tilray (TLRY) shares have been trading lower this week despite all of the positive news circulating in the market. In addition, the company has also released news on new deals being entered into this quarter.
Inner Spirit Holdings Ltd. (ISH) announced this week that it has closed the first tranche of its previously announced investment agreement with Tilray, Inc. and its wholly-owned subsidiary High Park Holdings Ltd.
According to a corporate press release, this is the first tranche of a total investment of $4.5 million by Tilray into Inner Spirit. In addition, investment firms are adding Tilray to their holdings. Barclays disclosed last month that it initiated a position in Tilray. It owned 26,319 shares of Tilray stock as of Sept. 30, according to a filing Barclays made with the Securities and Exchange Commission.
HempAmericana Inc. (OTC PINK: HMPQ) continued to trade higher on Wednesday. The company announced the installation of a new high-precision Solvent Recovery Machine into the core processing and extraction equipment line at its state-of-the-art CBD production facility in Augusta, Maine.
HempAmericana CEO, Salvador Rosillo, stated, "We are moving toward our goal of full-scale production of 99% pure CBD at high-capacity. We believe we have the capability of assuming a leadership role in this $2.1 billion industry over the next several quarters, and this new equipment represents one of the final pieces of the puzzle in achieving that goal."
HempAmericana is currently in the rolling paper and CBD oil business using the brand name Weed Got Oil. Search Rolling Thunders hemp papers on YouTube for a product demonstration of the Company's papers. The company owns an extraction machine and now plans to become a leader in the CBD oil market by establishing three laboratories for the extraction and research of the oils contained in the hemp plant. HempAmericana also researches, develops and sells products made of industrial hemp.
Marijuana Company of America, Inc. (MCOA) saw an active morning session on Wednesday. The company not only announced the launch of a new corporate hempSMART™ website and marketing platform for its associates but also that it upgraded its trading tier on the OTC Markets to the OTCQB Venture Marketplace this week.
Donald Steinberg, MCOA's CEO, stated, "As we start the hempSMART global expansion, it was imperative to have a platform able to facilitate a large number of affiliates with different currencies and languages. This platform provides our affiliates with the latest in marketing software to allow them to take advantage of all social media outlets. With my background in establishing large global marketing and distribution companies, I am confident this platform will allow us to focus on growth."
With regard to the upgrade to OTCQB, the company stated that by upgrading its trading tier, MCOA hopes to improve its image among institutional investor and broker communities.
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