PALM BEACH, Florida, September 21, 2018 /PRNewswire/ --
Financialnewsmedia.com News Commentary
Chris Fournier of Bloomberg.com reported Canada's measure of gross domestic product will get a boost after the legalization of recreational marijuana on Oct. 17 adds as much as $8 Billion to the country's economy, according to Toronto-Dominion Bank. In the U.S. markets the Marijuana ETF, ETFMG Alternative Harvest ETF (NYSEArca: MJ), gained over 10% as two of its holdings, cannabis stocks Tilray (TLRY) and Canopy Growth Corporation (NYSE: CGC) (TSX: WEED), were both up 50% and 7%, respectively. Investors across North America appear to be craving marijuana stocks as Canada prepares to legalize cannabis next month, leading to giant gains for Canada-based companies listed on U.S. exchanges. Active cannabis stocks in the markets today include: CROP Infrastructure Corp. (CSE: CROP) (OTC: CRXPF), Canopy Growth Corporation (TSX: WEED) (NYSE: CGC), Aphria Inc. (TSX: APH) (OTC: APHQF), The Alkaline Water Company Inc. (TSX-V: WTER) (OTC: WTER), Aurora Cannabis Inc. (TSX: ACB) (OTC: ACBFF).
CROP Infrastructure Corp. (CSE: CROP) (OTCPK: CRXPF) BREAKING NEWS: CROP Infrastructure announced today its California tenant has received additional lab results from its first crop. The first sample of dried 707 OG cannabis flower was submitted to Humboldt Quality Assurance Laboratory for analysis on September 14, 2018. The Company has been informed that samples of Platinum OG Kush have been submitted for additional testing.
The 707 OB sample has received a Tetrahydrocannabolic Acid ('THCA') result of 23.9% and passed all tests for microbial impurities and detectable pesticides. THCA is not directly used, but its presence is commonly analyzed when cannabis or hemp-based products are screened for THC. State testing is still pending.
CROP Infrastructure Director and CEO, Michael Yorke, stated: "Following our CROP SAFE method and SOP's, CROP is pleased to announce that our tenant has achieved a concentration of 23.9% THCa. 23.9% THCa commands a higher market value and is considered premium quality." Read this full announcement and more news for CROP Infrastructure at: http://www.marketnewsupdates.com/news/crop.html
Additional cannabis industry related developments from around the markets:
Aphria Inc. (TSX: APH.TO) (OTCQB: APHQF) has signed supply agreements with official distributors in all 10 provinces and one territory to provide high-quality, branded cannabis products for the adult-use market across the country come recreational cannabis legalization on Oct. 17, 2018. With 28 days to legalization, Aphria has already begun shipping initial product orders to ensure an extensive range of products from the company's expanding portfolio of adult-use brands will be available to consumers on Oct. 17, 2018. Aphria's recreational brands, Solei and RIFF, will also be available through on-line and in-store retailers in all markets. Premium B.C. bud from Broken Coast will also be available in most markets. Each of Aphria's brands have been carefully developed to meet the needs and interests of distinct consumer segments. Two additional adult-use brands will be available on Oct. 17, 2018, expanding the company's offerings to a wider consumer market, including the value-conscious and conventional user.
The Alkaline Water Company Inc. (TSXV: WTER.V) (OTCQB: WTER) announced this week the formation of A88 Infused Beverage Division, Inc., a wholly owned Nevada corporation ("A88 Infused"). A88 Infused will focus on brand extension and product innovations in the healthful water category. "We are excited to announce the launch of our new A88 Infused Beverage Division, Inc. Our national success with Alkaline88® and expertise gained in the enhanced water segment makes A88 Infused a logical step in Alkaline88®'s brand evolution. We have partnered with industry leaders and experts to develop healthful products using the technology currently used by Alkaline88® as their foundation," stated Richard A. Wright, President and CEO of The Alkaline Water Company Inc. "Consumer demand for enhanced and functional beverages is at an all-time high. Over 83% of consumers want some sort of nutritional or functional benefit in their water. A88 Infused is capitalizing on this trend with the planned launch of four new products centered around growing trends in the beverage space. A88 Infused is uniquely positioned to dominate these emerging beverage markets through our already established nationwide footprint of Alkaline88®," stated Richard A. Wright, President and CEO of The Alkaline Water Company Inc.
Aurora Cannabis Inc. (TSX: ACB.TO) (OTCQX: ACBFF) has completed its previously announced distribution of Australis Capital Inc. shares and warrants. The distribution was completed on Sept. 19, 2018, and the Australis shares and warrants will commence trading on the Canadian Stock Exchange under the symbol AUSA effective at the market open on Wednesday. In accordance with the terms of the distribution, eligible Aurora shareholders were paid one unit of Australis for every 34 Aurora shares outstanding as at Aug. 24, 2018. Each unit consists of one common share and one share purchase warrant of Australis. Each warrant entitles the holder thereof to acquire one share at an exercise price of 25 cents per Australis share, on or prior to 4 p.m. Eastern Time on the date that is one year after the distribution.
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