CORAL GABLES, FL / ACCESSWIRE / March 22, 2019 / The marijuana stock market has seen its fair share of shifts over the course of the past several years, and yet the change that has taken place has been, for the most part, solidly positive. State legislators and lawmakers have seen the opportunities presented by supporting cannabis economies in their home states, and have advocated for legislation in favor of marijuana legalization. The past year has seen a major boom in terms of individuals who support the regulated cannabis industry, resulting in an exponential increase in persons looking to invest in the sector. Taking all of this into consideration, it's possible that the remainder of this year could be bullish for the pot stock market. Next Green Wave Holdings Inc (NXGWF) (NGW), MedMen Enterprises Inc (MMNFF), Namaste Technologies Inc (NXTTF), and HEXO Corp (NYSE American: HEXO) are 4 pot stocks worth keeping on your radar as we close out 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) today announced that the Company has begun the optimization phase of the strategic licensing agreement with Intrexon Corporation to utilize Intrexon's Botticelli™ next-generation plant propagation platform to enable rapid production of Next Green Wave's proprietary cannabis cultivars for the California market. The collaborative work conducted at Next Green Wave's facilities will also accelerate its vision of becoming a world-class nursery.
Per the details of the collaborative project, Next Green Wave Holdings Inc (NXGWF) (NGW) will optimize Intrexon's Botticelli™ technology to Next Green Wave's specific cannabis cultivars. The Botticelli™ platform is an advanced tissue culture technology designed to enable the efficient propagation of plants while maintaining genetic purity and product performance.
MedMen Enterprises Inc (MMNFF) (MMEN.CN) made headlines today when the Company announced that it has signed a binding term sheet for a senior secured convertible credit facility of up to $250 million from funds managed by Gotham Green Partners, an investor in the global cannabis industry. Management believes this is the largest investment to date by a single investor in a publicly traded cannabis company with U.S. operations.
Following the announcement, Adam Bierman, Chief Executive Officer of MedMen, said, ''this strategic partnership with Gotham Green Partners represents another key milestone for MedMen and stems from our long-standing relationship with The Cronos Group and GGP's brand portfolio. The growth capital will be used to operationalize the balance of our footprint and we look forward to creating further alignment with GGP and their global cannabis platform.''
Namaste Technologies Inc (NXTTF) earlier this week announced the appointment of Baker Tilly WM LLP as its auditor. This follows Namaste's prior announcement on March 5, 2019, announcing the resignation of PricewaterhouseCoopers, LLP as its former auditor. The Company's audit committee and board have approved the appointment of Baker Tilly effective March 15, 2019.
In addition to the appointment of Baker Tilly, the Company also announced that it will not be in a position to file its audited annual financial statements for the fiscal year ended November 30, 2018 and the related management's discussions and analysis by the filing deadline of April 1, 2019, in order to permit sufficient time for Baker Tilly to complete its audit.
HEXO Corp (HEXO) earlier this month 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.
Sebastien St. Louis, Chief Executive Officer and Co-founder of HEXO Corp, said, ''this quarter not only saw an exponential increase in gross revenue and production but also saw us continue to execute on our promises including reaching a construction and licensing milestone on our 1,000,000 sq. ft. greenhouse expansion and listing on the NYSE-A….We announced an agreement to acquire Newstrike Brands Limited. HEXO's future is very promising, I am looking forward to continuing driving shareholder value and achieving milestones with our team.''
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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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