Ever since major alcohol conglomerate Constellation Brands (STZ) announced its plans to further raise its stake in Canopy Growth Corp. (CGC), to 38%, the marijuana industry has been a tear. The momentum that we are seeing has been like no other, and by the look of it, things are just starting to heat up.
Other alcohol makers and distributors are fighting for a piece of marijuana industry pie. Molson Coors (TAP) and Diageo (DEO) are both in talks with Canadian marijuana companies regarding investments and marijuana-infused beverages. We are also seeing liquor corporations signing deals with various marijuana cultivators.
Maybe it has to do with the prediction that Canada’s marijuana market alone is forecast to surpass $8 billion, and currently has over 300,000 consumers of medical marijuana. In just 51 days the recreational market opens, the number of marijuana consumers is going double, or even triple overnight.
As demand skyrockets, it has been estimated that there will be around 3.8 million additional recreational users by 2021, consuming around 420,000 kilograms or about $6 billion worth of pot. Marijuana companies are working around the clock to cultivate and secure as many supply deals as possible before the big day. Here are a few companies making some headway in the space.
Beleave is a biotech company who’s wholly-owned subsidiary Beleave Kannabis Corp., a ACMPR-licensed cultivator and retailer of medical marijuana and cannabis oils. Beleave has developed a network of medical cannabis clinics under the Medi-Green banner and has applied for various patents in both the U.S. and Canada to broaden its strong research focused foundation.
Beleave had announced the opening of two new Medi-Green stores, one in Ontario and the other Quebec which will both be open before October. Recently, the company announced it has been selected by the Ontario Cannabis Store (OCS) to supply its Seven Oaks brand, and last week, the company had reported receiving its first and also larger than expected purchase order from OCS . Since last Monday, this marijuana stock has seen a 25% increase in its share price trading close to record volume.
Tilray, Inc. (TLRY)
Tilray is the first marijuana company to directly list onto a major U.S. exchange. The company engages in the research, cultivation, processing, and distribution of medical marijuana. Tilray’s main operations are in Canada with ventures in ten other counties. The company has signed distribution deals with six provinces throughout Canada: British Columbia, Quebec, Manitoba, the Northwest Territories, Ontario and Yukon.
Tilray announced today via press release that it has been selected by the Nova Scotia Liquor Corporation to receive an initial purchase order. The purchase order grants Tilray access to its seventh province, Nova Scotia. This marijuana stocks share price was gapping up to all-time highs premarket on the news.
Cronos Group (CRON)
Cronos Group is a Canadian marijuana investment firm whose core assets include ACMPR-licensed Peace Naturals, a producer and retailer of medical marijuana and cannabis oil in Ontario, ACMPR-licensed Original BC, another producer and retailer in British Columbia, and a stake in Whistler Medical Marijuana Company, a certified organic cultivator and retailer.
Cronos recently reported crushing their Q2 finical results ended June 30th, 2018, reporting a 428% increase in revenue from the year prior. Recently, the company announced signing supply agreements with the OCS and the BC Liquor Distribution Branch and supplier terms with both the Nova Scotia Liquor Corporation and Prince Edward Island Liquor Corporation. Since reporting earnings mid-August, this marijuana stock is up nearly 70%.
Pursuant to an agreement between Midam Ventures LLC and Beleave Inc., Midam has been paid $200,000 from the company and ZERO shares of Beleave Inc. for a duration of 6 weeks beginning June 18, 2018 and ending July 31, 2018 NOW EXTENDED TO 8/31/2018. Midam may buy or sell additional shares of (BLEVF) in the open market at any time, including before, during or after the Website and Information, provide public dissemination of favorable Information.