CORAL GABLES, FL / ACCESSWIRE / February 20, 2019 / The marijuana stock market owes much of its success to the recent burst of excitement surrounding the regulated marijuana industry taking place on a global scale. Almost every day, headlines enter the media describing a new study or report that indicates the potential health benefits of consuming cannabis-infused products. Products with naturally-occurring cannabidiol (CBD) have been known to help patients suffering from inflammatory diseases, acute anxiety, and pain related to cancer treatment. Running in tandem with these updates has been the positive shift taking place on the state level in terms of lawmakers proposing new pieces of legislation in support of legalizing cannabis. If all of this attention surrounding the cannabis sector continues at its current rate, this may result in an influx of investors looking to the marijuana stock market for opportunities. Nabis Holdings (INNPF) (NAB), HEXO Corp (NYSE: HEXO), New Age Beverages Corporation (NASDAQ: NBEV), and Aurora Cannabis Inc (NYSE: ACB) are four cannabis companies heating up on Wednesday.
Nabis Holdings (INNPF) (NAB) is a Canadian investment company focused on investing in high-quality cash flowing and strategic assets across multiple aspects of the cannabis sector primarily in the U.S. limited license states with a roadmap to expand globally.
Nabis Holdings (INNPF) (NAB) made headlines last week when the Company announced that it has entered into a binding term sheet with Momentum Ideas Co to acquire certain assets used and marketed under the brand Bloombox, including the Bloombox Software and data platform. Nabis' acquisition of Bloombox will create a dominating presence in the growing U.S. cannabis market, featuring an integrated ecosystem of modern, next-generation technology. According to the details of the agreement, the Bloombox team will be working closely with Sam Gammon, the inbound Chief Technology Officer of Nablis, following the closing of the investment.
Shay Shnet, Chief Executive Officer and Director of Nabis Holdings (INNPF) (NAB), said, "Bloombox is a strategic investment for Nabis as it creates a very well established retail and supply chain ecosystem to be used and distributed across the Nabis' network of dispensaries across the United States," said Shay Shnet, CEO & Director of Nabis. "We look forward to working with the Bloombox team to further establish this retail cannabis software as the industry standard that we expect to be adopted by almost all cannabis retail locations, supply chain, & users."
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HEXO Corp (HEXO) announced earlier this month that it has entered into a syndicated credit facility with Canadian Imperial Bank of Commerce, as Sole Bookrunner, Co-Lead Arranger and Administrative Agent and Bank of Montreal as Co-Lead Arranger and Syndication Agent. Under the terms of the credit facility, the Lenders will provide HEXO up to C$65 million of secured debt financing at a rate of interest that is expected to average in the mid-to-high 5% per annum range over its three-year term.
Per the details of the credit facility, the deal consists of a C$50 million term loan and a C$15 million revolving loan, with an uncommitted option to increase the facility by up to C$135 million, subject to the satisfaction of certain customary legal and business conditions. Both loans mature in 2022.
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New Age Beverages Corporation (NBEV), the Colorado and Utah-based company, announced just before the end of January the global expansion of its Noni+Collagen product, following achievement of over $4 million in revenue in its first two months in initial test markets. New Age's Morinda Division created the product and presently offers the brand in 50 ml glass bottle shots, positioned as a once-daily use, sold in three 10-packs for a 30-day supply.
Shon Whitney, Morinda's VP of Sales and Marketing, commented, "we knew this would be a product our customers and partners would love, and we are thrilled to see it gain immediate momentum. We are the first and only company in the world to combine pure hydrolyzed collagen with authentic Tahitian Noni Juice."
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Aurora Cannabis Inc (ACB) today announced several key changes its Board of Directors, including the appointment of Michael Singer, previous Chairman of the Board, to the position of Executive Chairman of the Board of Directors. The Company also announced that independent director Ronald Funk has been named Lead Independent Director and Margaret Atkins has been appointed as a new independent director and Chair of the Audit Committee.
Following the announcement of the new appointees, Michael Singer, Executive Chairman, stated, "in my new role I will continue to work closely with our CEO, Terry Booth, and the rest of our senior executive team on all matters pertaining to strategic direction, execution and finance. Ron, with his exceptional senior leadership track record and experience, has been a valuable contributor as an independent director and is now positioned to play a more critical role as our Lead Independent Director."
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