Marijuana stocks have been hot lately, an indication that the cannabis craze if far from over. The ETFMG Alternative Harvest (MJ) exchange-traded fund, which invests in some of the most significant marijuana stocks has gained nearly 46% year to date. The fund’s top 3 holdings by market cap include: Aurora Cannabis Inc. (ACB), GW Pharmaceuticals PLC (GWPH) and Cronos Group Inc. (CRON).
The rapid growth of the cannabis industry is fortified by increased global legalization as well as the use of cannabis in medical applications. As cannabis laws continue to be loosened and the U.S. Food and Drug Administration (FDA) setting its first hearing regarding CBD’s legality in food and drinks for May, investors seeking opportunities may benefit from keeping tabs on cannabis stocks.
ParcelPal Technology Inc. (PTNYF) (PKG) (FSE: PT0), a technology-driven logistics company purposed with connecting consumers to the goods they love within an hour, announced it will be hosting an investor update conference call on May 17th to review recent progress. The company also announced that it will be releasing its quarterly financial statements for Q4 FY2018 by April 30, 2019.
This followed the news of achieving a major milestone, the completion of over 2 million deliveries and plans to move forward to include more joint ventures, expansion on its technology and to push its platform on multiple consumer verticals, while expanding operations across Canada and into the U.S. ParcelPal is in the final stages of launching medical and recreational cannabis delivery in Canada with Choom Holdings (CHOOF) and recently signed Kiaro. This on-demand cannabis delivery plan is expected to begin in April 2019, with more details to follow, and is expected to drive additional users to the platform and open fresh markets.
President and CEO Kelly Abbott states, “We are extremely excited to have achieved this major milestone. Our growth in 2018 was tremendous and our team has grown significantly. We are looking forward to a successful rollout in the cannabis industry amongst other verticals in the coming months across Canada with existing and future partnerships.”
New Age Beverages (NBEV), a health-focused organic and natural beverage company, announced today said it has expanded its Marley brand’s partnership with Walmart (WMT). The deal represents the its first national account penetration and shipments of Marley brand coffee and relaxation drinks have begun to Walmart distribution centers across the US.
Craig Thibodeau, VP of Key Accounts commented, “This is such a great accomplishment for New Age to gain its first national distribution, and to do so with the world’s largest retailer in Walmart. This is just the first initiative that we expect to do with them on the Marley brand and other New Age products on which we are in active discussions. We know Walmart is equally as committed as New Age to providing healthier products for their customers, and we expect to make the full portfolio of New Age’s better-for-you products available as we expand the relationship.”
New Age recently has filed a registration statement with the SEC to issue common shares, preferred shares, warrants, and units totaling $200 million. The company intends to use the proceeds for general corporate purposes, which may include acquisitions and working capital, according to the company.
Aurora Cannabis Inc. (ACB) announced it has been selected by the German Federal Institute for Drugs and Medical Devices as one of the three companies to cultivate and distribute medical cannabis in Germany and was awarded the maximum number of 5 of the 13 lots, over a period of four years with a minimum supply of 4000kg total which will be sold to the German government and supplied to wholesalers for distribution to pharmacies.
“We are very proud to have been selected as one of only three companies by the German government, which is a great achievement by our team,” said Neil Belot, Chief Global Business Development Officer. “Having the highest rated concept is a strong validation of the Aurora Standard cultivation philosophy, as well as of our track record in the delivery of safe and high-quality medical cannabis products to the German system. We commenced delivering dried cannabis flower from Canada to the German market in 2017, and recently added cannabis extracts to our offerings for German patients. Winning the tender reflects a natural evolution for Aurora, establishing a more prominent local footprint in this important international market with over 82 million people.”
Aurora also recently announced the appointment of Carey Squires as its Executive Vice President of Corporate Development and Strategy. In this newly created role, Mr. Squires, in collaboration with senior executives across the company, will focus on global growth and partnership strategies and investor development.
Aphria Inc. (APHA) announced that its German subsidiary Aphria Deutschland GmbH has also been selected by the German Federal Institute for Drugs and Medical Devices to receive a license for the domestic cultivation of medical cannabis in Germany.
“Aphria is proud to have been selected as a successful applicant in the German tender process, a testament to our high production quality standards,” said Hendrik Knopp, Managing Director of Aphria Germany. “The decision from BfArM is a validation of our strategic approach to supporting the German medical cannabis market, including with high-quality, domestic production to secure vital supply for patients. We are very pleased with our continued business momentum in Germany.”
This followed the news that Aphria Deutschland GmbH launched the company’s first CBD-based nutraceutical, the first product in its CBD-based cosmetics line for the German market. Featuring CBD derived from hemp, the CannRelief brand of products are being produced in the European Union and distributed by the Aphria’s subsidiary, CC Pharma, which has access to more than 13,000 pharmacies throughout Germany.
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