Financialnewsmedia.com News Commentary
PALM BEACH, Florida, May 15, 2019 /PRNewswire/ -- Cannabis companies are quickly gaining exposure with U.S. investors. Either through new listings on the NASDAQ, NYSE or with Depository Trust Company (DTC) eligibility, their stocks are just beginning to draw in bigger pools of investors. Cronos Group Inc. for example became the first cannabis company to list on the NASDAQ in early 2018. Aurora Cannabis Inc. debuted on the New York Stock Exchange in October 2018. Canopy Growth listed on the NYSE in 2018.
Related companies are doing so, as investors become even more bullish. Analysts at Jefferies says the industry could reach $130 billion by 2029, for example. "This assumes full U.S. federal legalization, full recreational and medical legalization across Europe, full medical and recreational legalization across Lat Am, and cannabis disruption of a number of other industries," noted the analysts, as quoted by Yahoo Finance. "Industries at risk of disruption are pharma, alcohol, health and wellness, pet care and smoking cessation." Some of the top companies in the industry include High Tide Inc. (CSE:HITI) (OTC:HITIF), Green Growth Brands Inc. (CSE:GGB) (OTC:GGBXF), Westleaf Inc. (TSX-V:WL) (OTC:WSLFF), Curaleaf Holdings Inc. (CSE:CURA) (OTC:CURLF), and Aphria Inc. (NYSE:APHA) (TSX:APHA).
High Tide Inc. (CSE:HITI)(OTCQB:HITIF) just announced it has received approval from The Depository Trust Company to make the Company's common shares eligible to be electronically cleared and settled through DTC, which will help make High Tide's common shares more accessible to investors in the U.S. and lead to higher volumes given the additional availability of shares for trading. "Successfully obtaining DTC Eligibility and gaining access to more investors in the United States is a significant milestone for High Tide. We greatly look forward to becoming part of more investor portfolios outside of Canada and welcoming new shareholders to our Company," said Raj Grover, President and CEO of High Tide.
Other cannabis-related developments from around the markets include:
Green Growth Brands Inc. (CSE:GGB)(OTCQB:GGBXF) is marketing its CBD personal care products under its Seventh Sense Brand. The company just opened two new CBD shops in Indianapolis Indiana, and Louisville, Kentucky. The new locations are the fourth and fifth Seventh Sense shops to open of the hundreds planned for the year.
"We are pleased with the initial performance of our shops and our eCommerce site, ShopSeventhSense.com," said Peter Horvath, CEO of Green Growth Brands. "The investments we are making in securing premium leases and in designing beautiful shop fixtures not only create amazing consumer experiences but are fantastic marketing mechanisms for our brand. With our eventual footprint of hundreds of shops in high foot traffic locations, we will be gaining exposure to millions of potential customers."
Westleaf Inc. (TSXV:WL)(OTCQB:WSLFF) just exercised its previously announced to purchase all of the issued and outstanding shares of 102053592 Saskatchewan Ltd., which operates a cannabis retail store located at 170-3020 Preston Avenue, Saskatoon. The store, which was built out as part of a license agreement with Westleaf, will operate under the Prairie Records retail banner opened for business on April 18, 2019.
"While Prairie Records creates a unique and totally different cannabis retail experience, we do want to recognize the day that activists used to bring attention to the push for legalization of cannabis which has gone on for many years," said Adam Coates, CCO at Westleaf. "We are excited to open our doors in two Saskatoon locations providing the community with a unique retail option that celebrates the relationship between cannabis and music."
Curaleaf Holdings Inc. (CSE:CURA.CN)(OTCQX:CURLF) just announced the launch of Bido, hemp-based CBD products for pets. CBD is a non-intoxicating, non-psychoactive compound from the cannabis sativa plant. CBD has been shown in initial third-party studies to support a pet's overall wellness including the potential to help manage pain and anxiety. Bido pet drops come in three varieties, bacon, salmon and unflavored "pure," and Bido soft-baked bites are available in apple chicken, peanut butter bacon, and honey sweet potato. Bido's products were developed using 100% natural and U.S. grown hemp that was tested and extracted to the highest industry standards. Curaleaf's team of scientists transformed the hemp-based CBD oil into a product with a precise dosage and flavor for pets.
Aphria Inc. (NYSE:APHA)(TSX:APHA) recently announced that its German subsidiary Aphria Deutschland GmbH secured a license for the domestic cultivation of medical cannabis from the German Federal Institute for Drugs and Medical Devices following the conclusion of a mandatory 10-day standstill period for public contracts. Aphria was granted a cultivation license for four of the nine total lots awarded by BfArM and is awaiting the completion of the tender process for the four remaining lots under review, one of which was provisionally awarded to Aphria Germany.
"Aphria thanks the BfArM for their diligent examination and validation of our approach for domestic cultivation with this license," said Hendrik Knopp, Managing Director of Aphria Germany. "Construction on our 8,000 square meter indoor cultivation facility is already underway and we anticipate it will be fully operational by Summer 2020. We are pleased to additionally support German patients in the upcoming months with high-quality imported cannabis flower and oils from Denmark and Canada."
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