CORAL GABLES, FL / ACCESSWIRE / February 5, 2019 / The future of the marijuana stock market will depend on two key factors: industry experts must continue to work to design and manufacture top-of-the-line products meant to elevate the human experience, and consumers must feel confident that companies in the cannabis industry both understand their needs, and are prepared to meet these needs. It's not a matter of coming up with a nuanced approach to a common problem people face, but more so that the solution is something people can actually get behind. So long as companies immersed in the cannabis sector recognize these two aspects, it may very well catalyze potential investor opportunities in the near future. ParcelPal Technology Inc (PTNYF) (PKG), HEXO Corp (NYSE American: HEXO), Canopy Rivers Inc (OTC PINK: CNPOF), and Charlotte's Web Holdings Inc (OTCQX: CWBHF) (CNSX: CWEB) represent four companies determined to innovate towards advancing the cannabis industry into the future.
ParcelPal Technology Inc (PTNYF) (PKG), along with other companies in the space, is taking advantage of the fact that, as new technologies have been developed to meet the growing challenges in life, so too has the willingness of consumers to be persuadable, in terms of considering products they otherwise might not consider. The Company created an on-demand marketplace where consumers can shop for anything from food to cannabis. No more waiting in line for your lunch or rushing to dispensaries after work.
ParcelPal Technology Inc (PTNYF) (PKG) utilizes technology-driven logistics to connect consumers with the goods they love, including allowing customers to place orders for cannabis products. Customers can shop at partner businesses and, through the ParcelPal platform, receive their purchased goods within an hour.
ParcelPal Technology Inc (PTNYF) (PKG) announced towards the end of last month that the Company had formed a partnership with MADD Canada to aid in the continuous fight to prevent impaired driving. According to the announcement, MADD Canada has endorsed ParcelPal as their official delivery service in Canada. As part of the ParcelPal's national rollout campaign, advertising for ParcelPal's service will be seen across the country in various educational forms. Together, MADD Canada and ParcelPal will launch a national awareness campaign focused on educating Canadians on the dangers of impaired driving and the options they have for getting items they want or need without leaving the party.
In a press release regarding the announcement, Kelly Abbott, President, and CEO of ParcelPal Technology Inc (PTNYF) (PKG), explained that "as ParcelPal dives deeper into cannabis and alcohol delivery, we are very aware of the inherent risks associated with consumption. We take every precaution to ensure the product is not only delivered safely but will be consumed responsibly as well. Our driver training programs and our technology are designed to ensure they do not deliver to a highly intoxicated or underage person."
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HEXO Corp (HEXO) announced just before the end of last month that the Company had closed its previously announced marketed offering of 8,855,000 common shares at a price of C$6.50 per share for aggregate gross proceeds of C$57,557,500, which includes the exercise of the full over-allotment option of 1,155,000 common shares.
Per the details of the announcement, the Company will use the net proceeds from the Offering for general corporate purposes, including funding the Company's global growth initiatives and research and development to further advance the Company's innovation strategies.
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Canopy Rivers Inc (CNPOF) found itself in headlines this week following an announcement that the Company has entered into an agreement with CIBC Capital Markets and Eight Capital, under which the Joint Bookrunners have agreed to purchase, together with a syndicate of underwriters, 11,500,000 subordinated voting shares of the Company on a "bought deal" basis at a price of $4.80 per Subordinated Voting Share for gross proceeds of approximately $55.0 million.
In line with the bought deal, Canopy Growth Corp, the Company's largest shareholder, said it will purchase a minimum of 6,250,000 Subordinated Voting Shares on a private placement basis, at a price per Subordinated Voting Share equal to the Issue Price for additional gross proceeds of a minimum of approximately $30.0 million.
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Charlotte's Web Holdings Inc (CWBHF) (CWEB), a Company leading the market in whole-plant extract products with naturally occurring CBD, announced at the tail-end of last month that Stephen Lermer had joined the Company in the newly formed role of Chief Operating Officer effective January 28, 2019.
Following the announcement of Lermer's appointment, Hess Moallem, President and CEO of Charlotte's Web, commented, "his appointment dramatically expands our domestic and international operational capabilities and brings high-level pharmaceutical quality and operating expertise to our organization. I've had the privilege of working with Stephen in the past and consider him a trusted advisor."
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