CORAL GABLES, FL / ACCESSWIRE / March 5, 2019 / The marijuana stock market has largely benefited from the ability of states to enact their own cannabis legislation, resulting in the majority of U.S. states having some form of legalized cannabis usage. Despite states operating with autonomy in terms of cannabis legalization, there are still a considerable amount of states that have yet to get on board. As we continue to move through the month of March, as lawmakers advocate for favorable cannabis legislation, this will hopefully translate to investors taking interest in the cannabis industry. Biome Grow Inc (CSE: BIO) (BIOIF) (6OTA.F), HEXO Corp (HEXO), Easton Pharmaceuticals Inc (EAPH), and Aurora Cannabis Inc (ACB) are 4 cannabis companies focused on developing high-quality products for consumers.
Biome Grow Inc (CSE: BIO) (BIOIF) (6OTA.F) is a company on track to become an industry leader in the Canadian cannabis market. Biome's team of expert executives has put in the groundwork to ensure that the Company invests in a diversified set of holdings, across sectors such as finance, growing technologies, regulatory affairs, business building, and marketing.
Biome Grow Inc (CSE: BIO) (BIOIF) (6OTA.F) announced in mid-February that the Company had entered into a memorandum of understanding providing Biome with preferential access to a high quality and low-cost supply of cannabidiol concentrate from CBD Acres Manufacturer Inc. Per the details of the agreement, the MOU is for a period of five years pursuant to which Biome may acquire up to 20,000 kilograms per year of sun-grown, hemp-based CBD extract from CBD Acres using its unique Nano lipid, solventless extraction process.
Following the announcement, Khurram Malik, President, and CEO of Biome Grow Inc (CSE: BIO) (BIOIF) (6OTA.F), said,"through this Agreement Biome is demonstrating a cannabis company can offer significant quantities of high-quality product at industry disrupting economics with a made-in-Canada product. This can also be accomplished without spending substantial capital to build internal production facilities."
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HEXO Corp (HEXO) announced back in February that it had entered into a syndicated credit facility with Canadian Imperial Bank of Commerce, as Sole Bookrunner, Co-Lead Arranger and Administrative Agent and Bank of Montreal as Co-Lead Arranger and Syndication Agent. Under the terms of the credit facility, the Lenders will provide HEXO up to C$65 million of secured debt financing at a rate of interest that is expected to average in the mid-to-high 5% per annum range over its three-year term.
Per the details of the credit facility, the deal consists of a C$50 million term loan and a C$15 million revolving loan, with an uncommitted option to increase the facility by up to C$135 million, subject to the satisfaction of certain customary legal and business conditions. Both loans mature in 2022.
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Easton Pharmaceuticals Inc (EAPH) saw a massive boost to its shares on Tuesday, with its shares up 65.21% late in the afternoon. The Company's market performance could be connected to the fact that they today announced the signing of a closed sub-distribution agreement with the legal entity of BAYER's Consumer Health Division for women's diagnostic product known as VS-Sense, to treat Bacterial Vaginosis for the country of Mexico, currently licensed by Easton / BMV from Common Sense Ltd. of Israel.
Following the announcement, Evan Karras, CEO of Easton Pharmaceuticals, said,"this sub-distribution agreement with BAYER is a significant leap forward for the company and we are extremely pleased that together with our partner BMV Medica we are able to demonstrate that the patience and strategy in acquiring exclusive licenses 2 ½ years ago has now led to establishing a relationship with BAYER, one of the most globally recognized companies and brands."
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Aurora Cannabis Inc (ACB) yesterday announced its completion of the acquisition of all the issued and outstanding shares of privately held Whistler Medical Marijuana Corporation, in an all-share transaction, pursuant to the terms of an amalgamation agreement dated January 31, 2019, among Whistler, Aurora, and a wholly owned subsidiary of Aurora.
Per the details of Aurora's acquisition plan, the Company intends to leverage its expertise in completing EU GMP compliant facilities to accelerate certification of the new Pemberton facility, ensuring the Company can leverage the Whistler brand on a global scale. Through integration with certain of Aurora's organic compliant grow technologies, the Company anticipates increasing productivity at both of the Whistler facilities and increase product offerings for both domestic and global markets.
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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 Biome Grow, Midam is being paid a total of $240,000 ($20,000 per month) for a period beginning on October 1, 2018, and ending on October 1, 2019. We own 0 shares of Biome Grow (BIO.CN). We may buy or sell additional shares of Biome Grow in the open market at any time, including before, during or after the Website and Information, to provide public dissemination of favorable Information about Biome Grow (BIO.CN). Click here for our full disclaimer.
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