The Top 5 Cannabis Stocks Set for Big Growth in 2020

According to the Marijuana Business Factbook, the cannabis industry could be worth $77 billion by 2022. Analysts at Arcview Market Research and BDS Analytics see worldwide sales of $55 billion by 2024. All as people around the world wake up to the health benefits of cannabis, including the treatment of insomnia, stress and anxiety. On top of that, 14% of Americans are now using products that contain CBD, according to a Gallup poll, as retailers rush to keep up with demand. As excitement builds, it’s opening a range of opportunity for cannabis companies including The Yield Growth Corp. (CSE:BOSS) (OTC:BOSQF), Canopy Growth Corporation (TSX:WEED) (NYSE:CGC), Charlotte’s Web Holdings Inc. (OTC:CWBHF) (CN:CWEB), OrganiGram Holdings Inc. (TSXV:OGI)(NASDAQ:OGI), and cbdMD Inc. (NYSE:YCBD).

The Yield Growth Corp. (CSE:BOSS)(OTCQB:BOSQF) BREAKING NEWSThe Yield Growth Corp. just announced that the website to support sales of Wright & Well topical products in the state of Oregon has been launched at Wright & Well consists of an Ayurveda-inspired collection of THC- and CBD-infused products. Using high quality Cannabis Sativa (Hemp) Root Oil, crafted through an exclusive proprietary extraction process, Wright & Well’s first five products, manufactured at Oregon licensed facility Nova Paths, have passed all regulatory requirements of the Oregon Liquor Control Commission (OLCC), including the completion of control studies of the final product. The products include THC and CBD infused massage oil, topical gel, and balm and two CBD tinctures. To support the sales of the Wright & Well product line through Oregon licensed distributor Nova Paths, Yield Growth has developed a sophisticated marketing plan for the Oregon market that focuses on the frontline sales team, instore experience and budtenders. Wright & Well products will also stand out with unrivaled packaging and in-store displays. The combined attention to education, packaging and displays is part of an overall strategy designed to support strong sales. The new Wright & Well website is striking and streamlined, and provides visitors with user-friendly experience. Customers can learn about the Wright & Well collection, ingredients and usage—making it easy to select products. Yield Growth’s U.S. subsidiary W&W Manufacturing Inc., is currently developing a CBD from hemp product line with a CBD online marketplace for planned launch in early 2020.

Other cannabis-related developments from around the markets include:

Canopy Growth Corporation (TSX:WEED)(NYSE:CGC) just announced that effective January 14, 2020, David Klein has been appointed as the Company’s Chief Executive Officer. David brings a wealth of expertise to this role, having served in a number of senior leadership capacities over the past 14 years at Constellation Brands. His capabilities include extensive CPG and beverage alcohol industry experience, strong financial orientation, and experience operating in highly regulated markets in the U.S., Canada, Mexico and Europe. David is an experienced strategist with a deep understanding of how to build enduring consumer brands while leveraging operational scale across a dispersed production footprint. He is a strong leader with a proven track record of developing diverse and high performing teams. In his current role as executive vice president and chief financial officer at Constellation Brands, David oversees all aspects of the company’s finance operations, all mergers and acquisitions, as well as the company’s information technology function. He is widely respected among members of the U.S. investment community, earning recognition as a top CFO by Institutional Investor magazine the past three years. David serves as a member of Constellation Brands’ executive management committee. He has served on the Canopy Growth Board of Directors for over a year and is presently Canopy Growth’s Board Chair. This familiarity with the Company’s current leadership team and strategy will allow David to integrate quickly, a major benefit in the fast-moving cannabis sector. 

Charlottes Web Holdings Inc. (OTC:CWBHF)(CN:CWEB) announced that it has closed its previously announced underwritten public offering for aggregate gross proceeds to the Company of C$66,250,000. A total of 5,000,000 units of the Company, at a price of C$13.25 per Unit were sold pursuant to the Offering. The Offering was led by Canaccord Genuity Corp., together with a syndicate of underwriters including Cormark Securities Inc., Eight Capital, and PI Financial Corp. Each Unit was comprised of one common share of the Company and one half of one common share purchase warrant. Each Warrant will be exercisable to acquire one common share for a period of 2 years following the closing date of the Offering at an exercise price of C$16.50 per Warrant Share, subject to adjustment in certain events. Charlottes Web has also granted the Underwriters an option to purchase up to 750,000 additional Units of the Company on the same terms as the Offering, exercisable within 30 days of the closing of the Offering. Net proceeds from the Offering will be used primarily to fund the Company's business development and for general working capital purposes. The Units were offered in each of the provinces of Canada, other than Quebec, pursuant to the Company's base shelf prospectus dated April 8, and were also offered by way of private placement in the United States to "qualified institutional buyers". The terms of the Offering are described in a prospectus supplement dated November 27, 2019.

OrganiGram Holdings Inc. (TSXV:OGI)(NASDAQ:OGI) announced that the Company has received Health Canada’s approval for the licensing of 16 additional cultivation rooms under the Cannabis Regulations. The expanded license was effective as of December 12, 2019. The new cultivation rooms represent approximately 13,000 kg/yr1 of increased target cultivation capacity. These are the remaining 16 rooms licensed within the Company’s Phase 4B expansion and now brings the Company’s Moncton campus licensed capacity to a target of 89,000 kg/yr. As a result of this approval, cannabis plants will be moved into these new rooms on a rolling basis in early 2020. The Company anticipates initial harvesting of product from these new rooms by the end of April 2020 assuming normal cultivation timelines. After drying and other post-harvest processing (including packaging and product testing) dried flower from these additional rooms is expected to begin to be available for sale to patients and customers in the Company’s fiscal quarter ending May 31, 2020.

cbdMD Inc. (NYSE:YCBD) reported more than 12,300 online orders were received through its ecommerce site during the Black Friday and Cyber Monday holiday sales period, which started Thursday, November 28, 2019 and ended Monday, December 2, 2019. This was the most online orders during any 5 consecutive day period in the company’s history. The average gross sales amount was $88.70 per order, after discounts and promotions. “cbdMD ranks highest in terms of overall consumer satisfaction as well as the highest in unaided consumer awareness of any of the top 20 CBD brands, according to a recent survey by the Brightfield Group. We continue to scale our online business, as well as add to our retail distribution, which is now over 4,000 stores. We believe we are incredibly well positioned for continued growth going into 2020,” said Martin Sumichrast, Chairman and Co-CEO of cbdMD.

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