[ACCESSWIRE]
CORAL GABLES, FL / ACCESSWIRE / December 10, 2018 / Cannabis stocks are abuzz this week. The industry is in the midst of multiple events that could be seen as market catalysts. Late last week it was announced that Altria (MO) would be making a near $2 billion investment into a cannabis company. Further, the market is anticipating an outcome to a widely expected decision on the US Farm Bill that would essentially make hemp a new cash crop for the country. It would also allow CBD sales to commence, legally across the country; a potentially big step for the US cannabis industry.
Four marijuana stocks to watch this week include Premier Health Group (OTC: PHGRF) (CSE: PHGI), Aurora Cannabis (NYSE: ACB), Tilray (TLRY), and KushCo Holdings (OTCQB: KSHB).
Premier Health Group (OTC: PHGRF) (CSE: PHGI) announced today that as a part of its growth strategy to cover the major verticals associated with primary care, it has signed a binding Letter of Intent to acquire a Vancouver, British Columbia based pharmacy. Premier Health Group (OTC: PHGRF) (CSE: PHGI) said that it expects the acquisition to close in or about Q1-19.
''We are excited for this opportunity to acquire our first pharmacy, and thereafter being able to prepare and deliver prescription and non-prescription pharmaceuticals and other health products to patients. In doing so, the pharmacist will play an integral role in our team-based patient-centric model,'' said Dr. Essam Hamza, CEO of Premier. ''Premier has engaged with patients, pharmacies and technology providers to not only introduce pharmacy services as a component of our comprehensive telemedicine app, but also to explore and implement efficiencies in fill and fulfillment.''
Premier Health Group (OTC: PHGRF) (CSE: PHGI) recently engaged discussions with Licensed Producers under the Access to Cannabis for Medical Purposes Regulation, other licensed medical cannabis companies and government officials in order to establish a framework for both patient and physician education.
In line with other pharmacy focused companies, this move could prove to be and exciting one for Premier Health Group (OTC: PHGRF) (CSE: PHGI). The Canadian medical cannabis clinic market is estimated to be worth approximately $2.35 billion by 2025. With this in mind, the company said that it expects to provide additional updates on acquisitions in Q4-18 and Q1-19. The company currently has an ecosystem of over 100,000 active patients and has plans to rapidly increase that number both domestically and internationally. To put it into perspective, Canopy Growth reported 84,400 registered patients at September 30, 2016. Furthermore, in its latest financial report, Aurora Cannabis for example, reported that it had 67,484 active registered patients and this was up from roughly 43,000 during the prior quarter.
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Aurora Cannabis (ACB) released positive news this morning. They received the first license to import, manufacture, store, and distribute medical cannabis containing THC in Mexico. Specifically, Aurora announced that, further to the Company's press release dated December 7, 2018, the Company has entered into a Letter of Intent to acquire all of the issued and outstanding shares of Farmacias Magistrales S.A. ("Farmacias"), subject to customary due diligence provisions, the completion of definitive agreements, and regulatory and government approval
Under the regulations governing the Mexican medical cannabis market, domestic cultivation, import or sale in Mexico of dried flower products is prohibited. Consequently, Farmacias is the only company to date with the ability to supply THC containing products, and the only THC-containing offerings available initially will be Aurora-sourced higher-margin derivative products.
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Tilray (NASDAQ: TLRY) announced it has closed the first tranche of its previously announced investment agreement with Inner Spirit Holdings Ltd. Pursuant to the closing, Inner Spirit received $2.25 million in consideration for the issuance of 11,335,013 common shares of Inner Spirit at a deemed price of approximately $0.1985 per share.
"Partnerships and cross investments are key strategies we're using at Inner Spirit to grow our Spiritleaf retail brand and create value for investors in the cannabis market. We see Tilray's investment as an endorsement of the Spiritleaf store concept by a leading industry player as we prepare to further extend the Spiritleaf brand throughout Canada with High Park's product portfolio highlighted in our retail locations. We look forward to a long and mutually rewarding relationship with Tilray and High Park," said Darren Bondar, President and CEO of Inner Spirit.
Shares of Tilray strongly rebounded following the first hour of trading on Monday. After hitting lows of $97.37, Tilray pushed back toward $100 per share before lunch.
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KushCo Holdings (KSHB) is the parent company to a diverse group of business units that are transformative leaders across several industries. KushCo Holdings' subsidiaries and brands provide exceptional customer service, product quality, compliancy knowledge and a local presence in serving its diverse customer base.
KushCo Holdings' brands include Kush Supply Co., a dynamic sales platform that is the nation's largest and most respected distributor of packaging, supplies, and accessories to the cannabis and CBD industry, Kush Energy, which provides ultra-pure hydrocarbon gases and solvents, Hybrid Creative, a premier creative design agency for clients across several industries, and Koleto Packaging Solutions, the research and development arm driving intellectual property development and acquisitions.
Shares of KushCo gapped up on Monday and hit highs of $5.98 during the morning trading session.
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