3 Marijuana Stocks Making Headlines This Week

As marijuana restrictions continue to be lifted, purchasing pot has become easier in some parts of the United States, and of course, in Canada. This holds true for those investing in it as well. With well-known companies expressing their interest in the sector, it’s no wonder why investors continue to flood the space.

Many Canadian marijuana companies were the front-runners of the “green movement” seen earlier this year, as the markets saw numerous share prices soar leading up to Canadian legalization. Some marijuana stocks market caps have increased by double or even triple digits on the idea of mainstream acceptance. Since, the sector has seen a pullback which could present itself as an opportunity.

Cowen & Co. forecasts that U.S. marijuana sales could reach $75 billion by 2030, if the country follows its neighbor to the north and legalizes recreational marijuana use. According to a new Gallup report, there is a record-high support for marijuana legalization in the U.S, with 66 percent of Americans now favoring legal marijuana and 53 percent of Republicans seem to support legalization. With more states going green, it wouldn’t be out of the question to consider the country may lift the federal ban over the next twelve years. Regarding Canada, 2019’s legal recreational marijuana sales could reach $4.34 billion, according to Deloitte. With the country already facing supply shortages, this number may even be on the low end of the ball park.

With this in mind, here are a few marijuana stocks that have been making headlines as of late.

Integrated Cannabis develops, manufactures, and distributes botanically-based consumable products; offering a line of hemp-based CBD, and a THC, nutraceutical infused products under the X-SPRAYS brand, in which the company has a Letter of Intent completed for distribution throughout the clinics and doctors’ offices of Empower Clinics Inc. (CSE:EPW) and a Letter of Agreement for collaboration on X-SPRAYS products with GTEC Holdings Ltd, (GTEC) (GGTTF) for the Canadian market.

Most recently, Integrated Cannabis announced an agreement to license all-natural vegan CBD formulated gummies and intends to begin distributing through its Arizona-based contract manufacturer, Titration Technologies. “Our gummies will provide an approachable delivery method, that is easy to consume and with a great taste. We expect the bulk of the sales to take place online but also have plans to distribute through our existing networks to brick and mortar stores in Colorado and throughout the United States. We also plan to expand and introduce a product line of THC formulated gummies upon licensure approval”, said John Knapp, CEO.

The company also announced signing a Letter of Intent to acquire all issued and outstanding securities of Colorado-based cannabis leader and owner of over 100 elite cannabis strands, Critical Mass Industries, LLC, as well as a retail focused collaboration with New Age Farm, Inc. (NF) (NWGFF) to deliver innovative CBD products and education through pop-up stores in Denver this fall.

Aurora Cannabis is vertically integrated and horizontally diversified from facility engineering and design, breeding and genetics research, cannabis and hemp production, and distribution. Last week, Aurora moved its common shares to be traded on NYSE under the symbol “ACB” and announced that Polish Ministry of Health has granted the company approval for its first shipment of medical cannabis to Poland. Aurora said it believes this was the first time a non-government business was granted approval to supply medical cannabis products in Poland.

“Becoming the first company to supply cannabis to Poland is validation of Aurora’s ability to do business in international markets with high barriers to entry,” said Chief Global Business Development Officer Neil Belot.

This news followed, ICC Labs Inc, a licensed producer and distributor of medicinal cannabinoid extracts, recreational cannabis and industrial hemp products in Uruguay and Columbian producer, announcing that two leading independent proxy firms both favorably recommended that ICC Shareholders vote for the previously announced arrangement between ICC and Aurora. The agreement details that Aurora will acquire all issued and outstanding common shares of ICC and each ICC Shareholder will receive $1.95 per ICC Share, payable in common shares of Aurora, at a premium of 34%.

Canopy Growth Corp. (CGC) (WEED)

Canopy Growth is a world-leading diversified cannabis and hemp company, offering distinct brands and curated cannabis varieties in dried, oil and Softgel capsule forms. The company’s focus, aside from servicing the Canadian market with its numerous brands has been on expanding globally, with operations throughout eleven counties on five continents. Canopy is most well-known for beverage tycoon Constellation Brands (STZ) $4 billion-dollar investment, and 38% stake, into the marijuana company to develop cannabis-infused beverages.

Most recently, the company announced that TS Brandco, an indirect wholly-owned subsidiary of Canopy, purchased 10% of the issued and outstanding Class A common shares of 10006215 Manitoba Ltd., bringing TS Brandco’s total ownership of ManitobaCo to 89.9%, further enhancing Canopy subsidiaries’ market share of retail operations in the Manitoba province. This news followed the announcement of entering into an agreement to acquire the assets of ebbu, Inc., an Evergreen, Colorado -based hemp research company. The transaction will complement and accelerate multiple core verticals operating under Canopy Growth’s group of companies.