CORAL GABLES, FL / ACCESSWIRE / October 8, 2018 / The cannabis market has remained increasingly successful for some time now as new innovation and the changing public perception of the substance contributes to the growing market. It seems as though we are in the midst of a cannabis gold rush of sorts in recent times. Legal cannabis sales last year alone reached over $10 billion in North America. That number shows an almost 150% increase that is expected to occur by 2021. With Canada's legalization date right around the corner, investors turn their focus to companies working to take full advantage of this pending boom.
Integrated Cannabis Company (ICNAF) (ICAN) announced last week the successful completion and positive results of a controlled trial of its proprietary Sleep product. The controlled 60 patient trial was completed with a renowned pain clinic in Southern California and the results were highly favorable; resulting in improvement in patients' sleep patterns combined with the unexpected, but highly desirable, decrease in the level of pain. The study results have been published in the peer reviewed journal: International Journal of Pharmacy and Life Sciences (Int. J. of Pharm. Life Sci., Vol. 9:5722-5729).
In addition, the company has also announced that it had completed a Letter Agreement to collaborate on X-SPRAYSTM products for the Canadian market with a Canadian License Producer under Health Canada's Access to Cannabis for Medical Purposes Regulations, GTEC Holdings Ltd. Last week, shares of Integrated Cannabis reached highs of $1.43.
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Aurora Cannabis (OTCQX: ACBFF) (TSX: ACB) has also caught attention recently. The company released fiscal fourth-quarter earnings and confirmed its intention to list stock on a "senior" U.S. exchange such as the Nasdaq or the New York Stock Exchange.
Further to this on Friday, October 5, the company filed a Form-40 with the intent of registering its securities on the New York Stock Exchange. Aurora could join the ranks of a growing number of cannabis companies choosing to list on major exchanges in the US. Late last month, Canaccord Genuity raised its price target for Aurora Cannabis to 13 Canadian dollars from 11 Canadian dollars.
Aurora Chief Executive Terry Booth said, "This listing provides access to a broader investor audience who gain the opportunity to participate in our continued success."
The company's top line grew 223% to C$19.1 million, up from C$5.9 million in the year-earlier quarter. Aurora logged earnings of C$79.9 million, up from losses of C$4.8 million in last year's quarter; in its financial statements Aurora said the quarter's profits were related to unrealized non-cash gains on derivatives and other marketable securities. Gross profit was C$20.6 million, up from C$5.8 million in the year-ago quarter.
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Since last Wednesday's opening price of $0.154, shares of Freedom Leaf (OTCQB: FRLF) have rallied more than 300% to highs above $0.50 per share. This morning, Freedom Leaf traded around $0.50 during pre-market trading, which was up compared to its Friday close of $0.484.
The company recently announced that it had received a significant investment from cannabis private equity firm Merida Capital Partners to further expand its existing US sales channels and accelerate its European hemp cultivation operations.
Freedom Leaf and Merida have also agreed in principle to a strategic partnership by which Merida will provide certain operational resources and support for both Freedom Leaf's US hemp-based CBD sales efforts and their global cultivation operations. In connection with Merida's investment, Merida Senior Partner David Goldburg will be joining the Freedom Leaf Board of Directors.
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Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. MAPH Enterprises LLC which owns www.MarijuanaStocks.com is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release.
MAPH Enterprises LLC, which owns www.MarijuanaStocks.com, may from time to time have a position in the securities mentioned herein and may increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice. MAPH Enterprises LLC, which owns www.MarijuanaStocks.com, may be compensated for its services in the form of cash-based compensation or equity securities in the companies it writes about, or a combination of the two. 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.
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