Last week was another eventful week for the marijuana industry. Aurora Cannabis (ACBFF) applied to list its shares on a “senior” exchange, tobacco titan Altria Group Inc. (MO) seemingly exhibiting interest in cannabis cultivator Aphria Inc. (APHQF), and retail giant Walmart Inc. (WMT) confirmed doing “some preliminary fact-finding” regarding retailing marijuana-based products in its stores.
The momentum that we are seeing in the industry’s progression is certainly not going to slow down, especially this week. On Wednesday, Canada is set to become the first G7 nation in the world to legalize recreational marijuana, putting nine decades of recreational marijuana prohibition to an end, launching adult-use recreational sales throughout the nation.
The additional billions to be generated by recreational legalization has not only the Canadian economy excited, but cannabis investors alike. The North American Marijuana Index, which tracks the leading cannabis stocks operating in the U.S. and Canada, is up over 167% in the last trailing year. The index’s top 5 holdings by market cap include:
- Tilary Inc. (TLRY)
- Aurora Cannabis Inc (ACBFF) (ACB)
- Canopy Growth Corp. (CGC) (WEED)
- Aphria Inc (APHQF) (APH)
- GW Pharmaceuticals Plc (GWPH)
As we head into the days prior to Canada’s big move, it’s important for the markets to pay close attention to the developments from companies within the sector.
Canadian-based Integrated Cannabis develops, manufactures, and distributes botanically-based consumable products domestically and internationally. The company offers hemp-based CBD, and a THC, nutraceutical infused products under the X-SPRAYS brand. Integrated Cannabis has a distribution agreement with Empower Clinics, which operates and owns 15 clinics throughout the U.S, and completed a letter of agreement for collaboration on X-SPRAYS products with Canadian-licensed producer GTEC Holdings Ltd. (GTEC) (GGTTF) for the Canadian market.
Most recently, the company announced a retail-focused collaboration with New Age Farm, Inc. (NF) (NWGFF), to deliver CBD education and innovative CBD products to the Colorado market this fall. The companies will be retailing their CBD products through pop-up stores in Denver as well as educating the public about the benefits and uses of CBD.
Cronos is a globally diversified and vertically integrated cannabis company, with a presence across five continents, that operates two wholly-owned Canadian ACMPR-licensed producers: Peace Naturals Project Inc and Original BC Ltd.
Cronos announced today that it has entered into a sponsored research agreement with the Technion Research and Development Foundation of the Technion – Israel Institute of Technology to explore the use of cannabinoids and their role in regulating skin health and skin disorders. The preclinical studies will be conducted by Technion over a three-year period and will focus on three skin conditions: acne, psoriasis and skin repair.
This news followed the announcement by Cronos and Aleafia Health Inc. (ALEAF) (ALEF) entering into a joint medical cannabis study to improve the management and treatment of insomnia and daytime sleepiness.
MedMen us leading cannabis company headquartered in the U.S. with assets and operations across the country. Most recently, a binding letter of intent was announced to purchase medical cannabis provider PharmaCann LLC in a stock deal valued at $682 million. The acquisition doubles the number of states where MedMen has licenses to 12 and combined, MedMen and PharmaCann would be licensed for 66 retail stores and 13 cultivation and production facilities.
This news followed last week’s announcement of the signing of a definitive agreement to acquire a licensed dispensary from Berkeley Patients Group in California, which gives the company one of only two adult-use licenses issued in the city, just outside San Francisco.
Aurora, one of the largest cannabis companies, is vertically integrated and horizontally diversified from facility engineering and design to breeding and genetics research, cannabis and hemp production, as well as wholesale and retail distribution. The company has seven production facilities, five with sales license, and numerous supply agreements across the Canadian provinces.
Most recently, Aurora annouced filing an application to list its common shares on the New York Stock Exchange (NYSE). The company anticipates that trading in its common shares on the NYSE will commence before the end of this month, subject to all required approvals. This news followed Aurora results for Q4 and 2018 Fiscal Year, with highlights including: top line revenue increasing 223%, gross margin on medical cannabis up 28%, and an active registered patient increase of 164%.
Pursuant to an agreement between Midam Ventures LLC and Integrated Cannabis Company, Midam is being paid $25,000 per month for a period of 2 months beginning September 4, 2018, and ending March 9, 2019. This payment has been increased to $75,000 per month for the period of November 4 2018 and ending March 9, 2019. Midam owns ZERO shares of Integrated Cannabis Company. Midam may buy or sell additional shares of (ICNAF)/(ICAN) in the open market at any time, including before, during or after the Website and Information, to provide public dissemination of favorable Information about Integrated Cannabis Company. MarijuanaStocks.com, which is owned by MAPH Enterprises LLC., a Florida Corporation has been previously compensated $100,000 by a non-affiliate 3rd party for a 1 year period beginning August 1, 2017 and ending August 1, 2018 to publicly disseminate information about CNRP Mining, Inc. (CND.CN) (CRPGF) that is now Integrated Cannabis Company. MAPH owns zero shares.