CORAL GABLES, FL / ACCESSWIRE / February 5, 2019 / The marijuana stock market has managed to demonstrate its strength despite the fact that, at times, the conversation surrounding cannabis has been less than beneficial. Although society has progressed much further in terms of recognizing the potential benefits of cannabis, there are still individuals who have yet to come to terms with the fact that more people are supportive of legalization. As a result of the recent passing of laws like the US Farm Bill, as well as Canada's country-wide legalization, individuals who would otherwise scoff at the cannabis industry, have now been brought into the fold due to the excitement surrounding the industry. The cannabis sector as a whole is predicted to be worth as much as $31 billion by the year 2022, which means that there is a large amount of room left still to grow. Nabis Holdings (INNPF) (NAB), Amyris Inc (NASDAQ: AMRS), InMed Pharmaceuticals Inc (OTCQX: IMLFF) (TSX: IN), and Pyxus International Inc (NYSE: PYX) are four cannabis companies working towards improving the quality of life for their consumers.
Nabis Holdings (INNPF) (NAB) is a Canadian investment company focused on investing in high-quality cash flowing and strategic assets across multiple aspects of the cannabis sector primarily in the U.S. limited license states with a roadmap to expand globally. In terms of the Company's corporate strategy, Nabis' framework was born from a desire to allow the company to enable identifying and acquiring majority interests across the entire vertically integrated aspects of the space with a focus on strategic revenue generation, EBITDA and growth.
Nabis Holdings (INNPF) (NAB) announced last month that the Company has entered into a binding term sheet to acquire 100% of the membership units of Organica Patient Group Inc, and RDF Management Group in the State of Arizona, USA. Following the announcement of the term sheet agreement, Shay Shnet, CEO and Director of Nabis, said, "we are very excited to be working with OPG and will continue to identify accretive investment opportunities in Arizona along with other key limited license states in the coming months."
In more recent news, Nabis Holdings (INNPF) (NAB) announced last Friday that it had entered into a binding Letter of Intent to purchase assets from PDT Technologies LLC, including extraction and production equipment and rights to lease the current production facility in Port Townsend, WA. Per the details of the announcement, the LOI also includes licensing rights to produce Chong's Choice Brand CO2 Vape Cartridges, one of the leading and most recognizable brands in the cannabis space.
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Amyris Inc (AMRS), a leader in the development and production of sustainable ingredients for health and wellness markets, today announced that it has signed a binding term sheet for a planned cannabinoid development, licensing and commercialization partnership valued at up to $255 million (not including significant royalties once the products are commercialized) with a confidential partner. The $255 million in payments include an upfront payment and the remainder are linked to milestones that are expected over the next 12-36 months following the signing of a definitive final agreement.
Following the announcement of the agreement, John Melo, Amyris President and CEO, said, "we are pleased to have been recognized by a well-capitalized partner as the company best suited to leverage fermentation-based technology in the production of the best quality and lowest cost and sustainably-produced cannabinoids."
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InMed Pharmaceuticals Inc (IMLFF) (IN), a fully integrated, cannabinoid-based biopharmaceutical company that leverages its proprietary bioinformatics and biosynthesis platform technologies to develop novel treatment solutions, today announced that the Company will report financial results for the three months ended December 31, 2018, which is the Company's second quarter of fiscal year 2019, on Monday, February 12, 2019.
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Pyxus International Inc (PYX) today announced that its wholly-owned indirect subsidiary, FIGR Inc, completed its first cannabis harvest at its Simcoe-based facility, FIGR Norfolk. After weeks of cultivation in one of FIGR Norfolk's four grow rooms, the crop was harvested. Once dried - a process that takes approximately 10 days- the cannabis will be packaged for sale in FIGR's Artisan, Craft, and Master lines of flowers, pre-rolls, and oils.
In response to the Company's harvesting milestone, Harvey Carroll, President of FIGR, said, "in 2018, we purchased a 20-acre property adjacent to our current facility that will give us more production space. Our planned expansion in Simcoe will see our space grow from 20,000 square feet to approximately 800,000 square feet."
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