CORAL GABLES, FL / ACCESSWIRE / October 1, 2018 / All eyes are on Canada as the country readies for legalizationof recreational cannabis this month. Canada is only the second country to legalize recreational marijuana on a national level after Uruguay. The upcoming change has triggered an investment boom and increased the valuations of Canada's marijuana producers.
Many are participating in a first-moveradvantage as both recreational and medical cannabis gain more interest from both the U.S. to Germany. Canada's industry will also act as the guinea pig of sorts for other governments across the world who have also shown progress in legalizing cannabis. As this next phase of legal cannabis takes place, there are several marijuanastocks that are benefiting greatly from the speculation surrounding the industry.
IntegratedCannabis Company (ICNAF) (ICAN) has been climbing higher this month as the company has released key announcements on new corporate developments. Last week Integrated Cannabis Company announced the completion of a Letter Agreement to collaborate on X-SPRAYSTM products for the Canadian market with a Canadian License Producer under Health Canada's Access to Cannabis for Medical Purposes Regulations, GTEC Holdings Ltd. Friday the company's stock saw its most active day since going public and during pre market trading on Monday, shares of Integrated Cannabis have traded as high as $1.16.
In reference to these latest corporate developments, the companies will engage with their science, marketing and distribution teams to streamline the logistics of developing and ultimately introducing products to the Canadian marketplace, over the coming weeks.
This news was released after the company recently completed the signingof a distribution agreement with Empower Clinics Inc. As of August 31 Empower has more than 25,000 patients under care across 15 locations with medical cannabis treatments in Oregon, Washington and Illinois. In addition, Empower has an historical patient database of more than 120,000 in the two states.
Tilray (TLRY) has taken much of the attention from the cannabis market after shares of the company's stock went on a parabolic run earlier this month. After hitting highs of $300, Tilray shares dropped as low as $97.12 last Monday but are trading over $150 just a week later.
Tilray announced today that it has received its sales license from Health Canada to sell cannabis under the Access to Cannabis for Medical Purposes Regulations (ACMPR). The license will allow High Park Farms to supply and sell finished cannabis products within the ACMPR as well as sales in anticipation of the launch of the adult-use market in Canada upon its legalization on October 17, 2018.
"This license marks a milestone for High Park as we aim to solidify our position as a leading provider of adult-use cannabis in Canada," said Adine Carter, Chief Marketing Officer of High Park. "We look forward to supplying provinces and territories with a variety of world-class cannabis brands and products in anticipation of the launch of the adult-use market on October 17, 2018."
Canopy Growth (CGC)(WEED.TO) is a diversified cannabis company, offering distinct brands and curated cannabis varieties across the globe. Canopy Growth Corporation recently responded to Ontario's retail rollout plan.
The Company is looking forward to serving customers at retail locations at the site of its production facilities and especially looks forward to initiating the process of obtaining the necessary retail licenses required to operate cannabis retail at its Smiths Falls headquarters where a merchandise store is already in place at a Tweed-branded visitor center.
"The future of the Ontario cannabis market is bright," said Mark Zekulin , co-CEO and President, Canopy Growth. "As a cannabis business with multiple licenses and a variety of diverse subsidiaries, we feel we have a distinct advantage at this stage in the game. The Tweed and Tokyo Smoke retail experiences will offer unique and distinct experiences to appeal to anyone interested in cannabis. And we might even change a few minds."
Shares of the company are up by more than $1 per share compared to where the stock closed on Friday
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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 Integrated Cannabis Company, Midam is being paid $25,000 per month for a period of 6 months beginning September 4, 2018 and ending March 9, 2019. We own ZERO shares of Integrated Cannabis Company. We 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. Please click herefor full disclaimer
