PALM BEACH, Florida, June 20, 2017 /PRNewswire/ --
In today's legal marijuana developments around the burgeoning cannabis sector across North America, industry leaders are ramping up production levels and racing to introduce the newest and higher quality products and services. The acquisition and development of commercial space for expanded grow facilities alone is continuing to drive potential revenues to new heights. Cannabis companies in the news and market activity to watch today include: MYM Nutraceuticals Inc. (OTC: MYMMF) (CSE: MYM.CN), Cannabics Pharmaceuticals Inc. (OTC: CNBX), Aurora Cannabis Inc. (TSX-V: ACB.V) (OTC: ACBFF), Canopy Growth Corporation (TSX: WEED.TO) (OTC: TWMJF) and InMed Pharmaceuticals Inc. (CSE: IN.CN) (OTC: IMLFF).
MYM Nutraceuticals Inc. (OTCQB: MYMMF) (CSE: MYM.CN) is extremely pleased to announce that it has signed an exclusive deal with the Municipality of Weedon, Québec ('Weedon') to build a 1.5 million-square-foot cannabis production facility consisting of fifteen 100,000-square-foot greenhouses. Once the entire project is completed and licensed, it would be one of the largest grow operations in the world, with the potential to produce over 150,000 kilograms of cannabis per year or $750,000,000 annually. This is a first of its kind partnership where a municipality has partnered with a cannabis company to build a major production facility. The agreement is unique as Weedon will purchase the 329 acres of land for MYM to build the project on. Read this and more news for MYM Nutraceuticals at http://www.marketnewsupdates.com/news/mymmf.html
The Weedon agreement was signed by a subsidiary of MYM, CannaCanada Inc., a Montréal-based cannabis company that MYM purchased 75% of. By the completion of the project, MYM will own 90% of CannaCanada Inc. CannaCanada's strong ties with Weedon city officials allowed MYM to also obtain full exclusivity regarding the future development of any cannabis or hemp-growing facilities within the municipality. The municipality of Weedon, which is approximately two hours east of Montréal, is actively involved in the project. Weedon has already identified the land on which the facility will be built and has signed an option to purchase it. Subject to certain requirements, Weedon will exercise that option and then donate the land to the project.
MYM anticipates that the project will advance quickly as Weedon's planning department has already approved the preliminary construction designs for the initial portion of the facility. Detailed plans for the first 100,000-sq-ft greenhouse and a 20,000-sq-ft warehouse are now being drawn up by the MYM's architects, Latimer Hu. MYM has engaged Factotum Consultants, who have successfully obtained two Licensed Producer licenses for other clients, to manage the ACMPR application process and expects to submit its application to Health Canada this Friday.
In other Cannabis industry developments and market activity of note:
Cannabics Pharmaceuticals Inc. (OTCQB: CNBX) had a strong open to the week, closing up 11% on over 1.8 million shares traded on Monday. Cannabics Pharmaceuticals Inc. (CNBX), a U.S based public company, is dedicated to the development of Personalized Anti-Cancer and Palliative treatments. The Company's R&D is based in Israel, where it is licensed by the Ministry of Health for its work in both scientific and clinical research. The Company's focus is on harnessing the therapeutic properties of natural Cannabinoid formulations and diagnostics. Cannabics engages in developing individually tailored natural therapies for cancer patients, utilizing advanced screening systems and personalized bioinformatics tools.
Aurora Cannabis Inc. (OTCQX: ACBFF) (TSX-V: ACB.V) - ACBFF closed up 3.04% on Monday on the OTC Markets after trading north of 290,000 shares by the market close. ACB.V closed up over 2% at $2.16 on the TSX exchange on Monday as well trading over 1.3 Million shares. Aurora's wholly-owned subsidiary, Aurora Cannabis Enterprises Inc., is a licensed producer of medical cannabis pursuant to Health Canada's Access to Cannabis for Medical Purposes Regulations ('ACMPR'). The Company operates a 55,200 square foot, state-of-the-art production facility in Mountain View County, Alberta , and is currently constructing a second 800,000 square foot production facility, known as 'Aurora Sky', at the Edmonton International Airport, and has acquired, and is undertaking completion of, a third 40,000 square foot production facility in Pointe-Claire, Quebec , on Montreal's West Island. Aurora also recently acquired Pedanios GmbH, a leading wholesale importer, exporter, and distributor of medical cannabis in the European Union ('EU'), based in Berlin, Germany.
Canopy Growth Corporation (OTC: TWMJF) (TSX: WEED.TO) - TWMJF finished Monday up 2.03% on the OTC Markets with over 220,000 shares traded, while WEED.TO closed up at $7.95 trading over 880,000 shares by the market close. Canopy Growth Corporation, through its subsidiaries, produces and sells medical marijuana in Canada. The company offers dry cannabis and oil products primarily under the Tweed and Bedrocan brands. It also sells its products through online. The company was formerly known as Tweed Marijuana Inc. and changed its name to Canopy Growth Corporation in September 2015. The company is headquartered in Smiths Falls, Canada.
InMed Pharmaceuticals Inc. (OTCQB: IMLFF) (CSE: IN.CN) - IMLFF closed Monday up 1.80% on the OTC markets with over 350,000 shares traded. On the CSE Canadian exchange, IN.CN closed down very slightly at $0.37 on Monday. InMed recently shared the progress of advancing its lead clinical trial candidate. InMed Pharma is a pre-clinical stage biopharmaceutical company that specializes in the development of cannabinoid-based prescription drug therapies that leverage its novel drug delivery systems. Using a proprietary bioinformatics database, the company rapidly identifies cannabinoid compounds with the potential to address serious medical conditions. This process enables the company to efficiently develop highly-specialized therapies across many conditions. Read the full release here: https://finance.yahoo.com/news/inmed-pharma-advances-toward-clinical-130000513.html.
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