CORAL GABLES, FL / ACCESSWIRE / December 11, 2018 / The North American marijuana industry is expected to see a near-term boom. Reports from firms like ResearchAndMarkets highlight the potential ahead.
A new report published by the firm shows the North America legal cannabis market value projected to reach around US$ 35 Billion by 2023, expanding at a CAGR of 27.1% during 2018-2023. The firm explains, "Nowadays, cannabis is gaining prominence in North America due to increasing acceptance of the drug for both recreational and medical uses. In Canada, the use and purchase of cannabis have been legalized for people over the age of 18 years. Whereas in the United States, cannabis has been legalized in a number of states for medicinal purpose. Moreover, the growing research and development in the field of medical use of cannabis is further projected to create positive growth prospects for the market in the coming years."
Today we are highlighting 4 marijuana stocks to watch as North American markets experience new industry growth.
CLS Holdings USA (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. The Company has taken aim at expanding its footprint beyond Nevada and is strategically positioning itself in some of the fastest growing US markets right now.
According to the Nevada Department of Taxation, marijuana flower/bud accounted for roughly 50% of all combined medical and adult-use marijuana purchases by consumers in Nevada, followed by concentrates at about 25% and infused edibles at 13%.
Earlier this year, CLS Holdings USA (CLSH) closed on its acquisition of Oasis Cannabis. Oasis announced that packaged marijuana flower/bud and pre-rolled joints represented 67% of the total sales, followed by concentrates at 20% and infused edibles at 9%.
This morning CLS Holdings USA (CLSH) announced that the company has obtained a receipt for its final long form prospectus filed with the securities regulatory authorities in the Provinces of Alberta, Manitoba, British Columbia and Ontario and has been granted conditional approval by the Canadian Securities Exchange to list the common stock in the capital of CLS Holdings USA (CLSH) on the CSE under the ticker symbol "CLSH".
Over the last two days, shares of CLS Holdings USA (CLSH) have rallied back from lows of $0.51 to highs on Tuesday of $0.64.
Jeff Binder, Co-Founder, Chairman and CEO of CLS Holdings USA (CLSH) stated, "This is a truly exciting development for the company as it opens CLS to a new and expanded audience of potential shareholders. The company worked extremely hard to obtain this receipt and conditional listing and we are pleased with the outcome."
Other cannabis companies to watch during this latest market trend include:
HempAmericana Inc. (OTC PINK: HMPQ), which has seen a 3-day rally and topped out at highs of $0.0184 during Tuesday's morning session. 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."
Liberty Health Sciences Inc. (LHSIF)(LHS) recently announced that it has opened its first South Florida dispensary today in the heart of Miami. The new dispensary provides customers in Miami-Dade County, the most populous county in Florida, access to premium quality medical marijuana products and educational services.
"Liberty remains committed to ensuring that its premium quality medical marijuana products and educational services are accessible to the more than 2.7 million people who call South Florida home," said GeorgeScorsis, CEO of Liberty Health Sciences.
Over the last 4 days, shares of Liberty climbed from lows of $0.565 to highs of $0.787 on Tuesday morning.
Canopy Growth (CGC)(WEED.TO) joined in on the morning rally in pot stocks on Tuesday. Shares of the company reached highs of $31.98, which was up from the $28.10 lows the stock saw last week. The company has received its latest series of momentum following the announcement that it had finalized its deal with Storz & Bickel GmbH & Co. KG making it an official subsidiary of Canopy.
The all-cash transaction to acquire Storz & Bickel GmbH & Co. KG, related entities, and IP were for a purchase price of up to approximately €145 million. With a 22-year track record of breakthrough innovations, Storz & Bickel is widely recognized as the global leader in vaporizer design and manufacturing.
"Joining Canopy will enable S&B to take the next significant development step forward. Access to Canopy Growth's extensive portfolio of test laboratories as well as pharmaceutical and medical-scientific know-how opens up entirely new product development opportunities," said Jürgen Bickel, CEO, Storz & Bickel.
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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.
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