CORAL GABLES, FL / ACCESSWIRE / March 13, 2019 / The marijuana stock market has seen an impressive couple months thus far in 2019, despite the cannabis industry still very much in its infancy. Even though the marijuana industry is still relatively new, cannabis companies have managed to get their market capitalization well above the billion-mark. Having said that, a common mistake made when speaking about successful companies is solely focusing on large-cap companies. Especially in the cannabis sector, there is a considerable amount of smaller companies taking innovative approaches to create cannabis products, ultimately resulting in growing excitement from investors. Leafbuyer Technologies Inc (OTC: LBUY), Tauriga Sciences Inc (OTCQB: TAUG), Cara Therapeutics Inc (NASDAQ: CARA), and HEXO Corp (NYSE American: HEXO, TSX: HEXO) are 4 marijuana stocks getting a boost from today's headlines.
Leafbuyer Technologies Inc (OTC: LBUY) is often referenced as the most comprehensive online resources for information related to cannabis, as well as how to procure products currently available on the market. Through the use of its website, Leafbuyer.com, the Company has become the authority on cannabis for millions of consumers on a daily basis.
Leafbuyer Technologies Inc (OTC: LBUY) announced the official launch of the leading mobile application, Greenlight, in Colorado and Oklahoma. The news follows a November 8, 2018 press release announcing the Company's acquisition of Greenlight. Through the Greenlight app, consumers can preorder their favorite cannabis products from participating dispensaries and skip the line when they go to pay and pick them up.
Following the announcement, Kurt Rossner, Chief Executive Officer of Leafbuyer Technologies Inc (OTC: LBUY), said, "in this fast-paced industry, we need to stay ahead of technology and continuously improve our offerings to drive more value to our clients. Greenlight is one more platform we have that separates us from our competition, inherently making Leafbuyer a more attractive option to dispensary clients nationwide."
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Tauriga Sciences Inc (TAUG), a company engaged in building its business through the development, distribution, and licensing of proprietary products, today announced that it has ramped up production of its Tauri-Gum™ inventory to support its ongoing commercial launch. In total, the Company has placed orders with its manufacturer for an additional 17,400 blister packs of Tauri-Gum™, on top of the 8,700 units that comprise the initial inventory tranche.
Towards the end of February, the Company shared updates regarding its continued efforts to list its Tauri-Gum™ product on Amazon. The Company has increased its Research and Development budget with the manufacturer and is currently in the process of testing new flavors as well as other product enhancements.
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Cara Therapeutics Inc (CARA), a biopharmaceutical company focused on developing and commercializing new chemical entities with a primmer focus on pruritus as well as pain, yesterday announced financial results and operational highlights for the fourth quarter and full year ended December 31, 2018.
Derek Chalmers, President and Chief Executive Officer of Cara Therapeutics, said, "we anticipate 2019 to be a transformative year for the Company with significant clinical readouts expected from both pivotal Phases 3 trials of KORSUVA™ Injection, and from our Phase 2 trial of Oral KORSUVA™ in pre-dialysis patients with CKD-aP. We also expect to broaden our clinical pruritus program for Oral KORSUVA™ with the initiation of Phase 2 trials in both liver disease and dermatological conditions, including atopic dermatitis."
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HEXO Corp (HEXO) made headlines today when the Company announced that they have entered into a definitive arrangement agreement under which HEXO will acquire, by way of a plan of arrangement under the Business Corporations Act, all of Newstrike Brands Ltd's issued and outstanding common shares in an all-share transaction valued at approximately $263 million.
Per the details of the agreement, Newstrike shareholders will receive 0.06332 of a HEXO common share in exchange for each Newstrike common share held. The Transaction has been unanimously approved by the board of directors of each of HEXO and Newstrike, and Newstrike's board of directors recommends that its shareholders vote in favor of the Transaction.
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