Integrated Cannabis Company (ICNAF)(ICAN) has been in focus since releasing it as our newest Connect The Dots feature over 2 weeks ago. Since initiating coverage on this company, we’ve seen several key developments and technical patterns trigger strong momentum in the market; this could be just the beginning in our opinion.
As we first covered in our update, “Prepare For A Boom In Pot Stocks,” the entire cannabis sector looked/looks like it could be on the verge of a bigger move. This was indicated by two of the industry’s ETFs signaling bullish chart patterns.
These trends still hold true and even with the pullback that the market saw late last week, the bullish undertones are pushing ahead with both the Alternative Harvest ETF (MJ) and the Horizons Marijuana Life Science ETF (HMLSF); and both are in the midst of gold cross patterns:
In addition to the Golden Cross Patterns, trading volume remains at much higher levels and could suggest that this latest momentum could just be getting started. When we compare this to Integrated Cannabis Company (ICNAF)(ICAN), a similar trend can be observed:
Similar to the cannabis market overall, ICNAF/ICAN saw a pullback from Thursday (9-20) highs but trading volume remained in line with what the stock has seen for the last few weeks. Beyond the technical indicators, is there more that could sustain a potential bull rally? In our opinion, yes!
On September 13, Integrated Cannabis Company, Inc. announced the completion of a market-ready Tetrahydrocannabinol (THC)-infused spray product and the required licensure for manufacturing of the product in Colorado.
Integrated Cannabis Company, Inc. (ICAN.CN) (ICNAF) Signs Distribution Agreement with Empower Clinics, Inc.
On September 20, Integrated Cannabis Company, Inc. announced the completion of a Letter of Intent (LOI) to distribute X-SPRAYS™ products throughout the clinics and doctors’ offices of Empower Clinics Inc. (CSE:EPW), a leading owner and operator of medical cannabis and wellness clinics in the United States.
As of August 31, Empower has more than 25,000 patients under care across 15 locations with medical cannabis treatments in Oregon, Washington, and Illinois. The patient base in Oregon represents approximately one-third of the state’s total medical card issuance. In addition, Empower has a historical patient database of more than 120,000 in the two states.
Integrated Cannabis Company, Inc. (ICNAF) Signs Co-Development and Marketing Agreement With a Canadian Licensed Producer, GTEC Holdings Ltd.
Integrated Cannabis Company, Inc. (ICAN.CN) (ICNAF) (“Integrated Cannabis“), is pleased to announce the completion of a Letter Agreement (the “Agreement”) to collaborate on X-SPRAYS™ products for the Canadian market with GTEC Holdings Ltd (“GTEC“) (TSXV: GTEC, OTCPK:GGTTF), a Canadian License Producer under Health Canada’s Access to Cannabis for Medical Purposes Regulations (ACMPR).
Keep in mind that all of this is happening well in advance of the October date when Canada is set to allow the legal sale of recreational cannabis across the country!
With mainstream media jumping on the marijuana stock bandwagon, the momentum in the cannabis market continues to surge. News outlets like CNBC and Bloomberg are now running regular pot-stock-specific reports before, during and after market hours as more attention on the sector builds.
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Disclaimer: Pursuant to an agreement between an affiliate of MAPH Enterprises, LLC (owners of MarijuanaStocks.com), Midam Ventures LLC and Integrated Cannabis Company, Midam is being paid $25,000 per month for a period of 6 months beginning September 4, 2018, and ending March 9, 2019. We own ZERO shares of Integrated Cannabis Company. We may buy or sell additional shares of (ICNAF)/(ICAN) in the open market at any time, including before, during or after the Website and Information, to provide public dissemination of favorable Information about Integrated Cannabis Company.
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