[ACCESSWIRE]
CORAL GABLES, FL / ACCESSWIRE / March 15, 2019 / The marijuana stock market has shown exciting promise during the month of March, as we've seen cannabis companies make their way back to their pre-pullback levels. The first few weeks of 2019 served as a reminder that marijuana stocks can have high volatility at times, especially after we saw a decline in the prices of several major cannabis stocks. Nevertheless, the atmosphere surrounding cannabis is slowly reflecting the favorable opinions of the public as lawmakers continue to advocate legislation in support of legalization. Given the nascency of the cannabis sector, investors looking for potential opportunities should continue to pay attention to companies regardless of their volatility ParcelPal Technology Inc (PTNYF) (PKG), Charlotte's Web Holdings Inc (OTCQX: CWBHF), HEXO Corp (TSX: HEXO), and Harvest Health & Recreation Inc (OTCQX: HRVSF) represent 4 marijuana stocks looking to close out a strong week.
ParcelPal Technology Inc (PTNYF) (PKG) is a technology-driven logistics company purposed with connecting consumers to the goods they love. Rather than waste time going to the store, waiting in line to purchase what you need, and then traveling all the way back home, ParcelPal created an on-demand platform where customers can purchase a variety of products and have their orders delivered in less than an hour.
ParcelPal Technology Inc (PTNYF) (PKG) made headlines yesterday when the Company announced that the Company has signed a cannabis distribution agreement with Kiaro, a Vancouver-based cannabis retailer. Further to ParcelPal's cannabis strategy announced on September 13, 2018, the Company has completed an additional cannabis distribution agreement with Kiaro for the delivery of cannabis products through Kiaro's physical and digital retail channels.
Following the announcement, Kelly Abbot, Chief Executive Officer of ParcelPal Technology Inc (PTNYF) (PKG), said, ''cannabis delivery is expensive and often through antiquated courier services – with consumers waiting over a week to receive their items. With ParcelPal, customers will receive their cannabis products safely within an hour. Our technology enables seamless integration with any cannabis retail outlet or eCommerce platform.''
For More Information On ParcelPal Technology Inc, Click Here
Charlotte's Web Holdings Inc (CWBHF), a market leader in whole-plant hemp extract products with naturally occurring cannabidiol, in mid-January, reported its 2018 harvested hemp results. The Company reported more than a 10 times growth in harvested hemp compared to its 2017 growing season. Per their announcement, the high-quality 100% U.S.-grown hemp will be processed through proprietary extraction methods to create whole plant hemp extract that will be used in Charlotte's Web products for sale in 2019 and 2020.
Hess Moallem, President and CEO of Charlotte's Web, said, ''we do our own farming in Colorado and partner with the finest farmers in Kentucky and Oregon. This year's harvest is a testament to our farming excellence and constantly growing agricultural knowledge of hemp. We have an internal plant science and genetics department that has made substantial progress in creating healthier, more robust plants that maximize yields by region and provide complete scalability."
For More Information on Charlotte's Web Holdings Inc, Click Here
HEXO Corp (HEXO) yesterday reported its financial results for the second quarter of the 2019 fiscal year, the Company's first full quarter following the legalization of adult-use cannabis in Canada. Per the details of their results, during the quarter ended January 31, 2019, the Company announced that its 1,000,000 sq. ft. greenhouse expansion reached construction and licensing milestones. The first harvest from the facility is expected later this month and will allow HEXO to continue ramping up to an annual production capacity of 108,000 kg of dried cannabis annually.
In recent news, the Company yesterday announced an agreement to acquire Newstrike Brands Ltd. This transaction was unanimously approved by the board of directors of both HEXO Corp and Newstrike Brands Limited. The acquisition will provide HEXO Corp capacity to produce approximately 150,000 kg of high-quality cannabis annually with access to four cutting-edge production campuses. It also provides the Company diversified domestic market penetration with combined distribution agreements in eight provinces.
For More Information On HEXO Corp, Click Here
Harvest Health & Recreation Inc (HRVSF), a vertically-integrated cannabis company, garnered significant media attention this week when the Company announced that it has entered into a binding agreement to acquire Verano Holdings, LLC, an arm's length third party, licensed operator of cannabis facilities, in an all-stock transaction for an estimated purchase price approximately $850 million. Per the details of the agreement, the combined company is expected to be operating 30 dispensaries, eight cultivation facilities, and seven manufacturing facilities, with expected further aggressive operational expansion.
Following the announcement, Jason Vedadi, Executive Chairman of Harvest, said, ''we are confident that this is an opportunity to continue to leverage each of our company's strengths and drive continued shareholder value, while at the same time achieving the scale we know will give us a leadership position in one of the largest cannabis markets in the world.''
For More Information On Harvest Health & Recreation Inc, Click Here
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