CORAL GABLES, FL / ACCESSWIRE / March 25, 2019 / The marijuana stock market and its encompassing industry is vastly different from where it was even six months ago. With changes occurring in the cannabis sector on a near-daily basis, it can be hard, at times, to keep one's head straight. Nevertheless, signs are pointing to the fact that companies responsible for growing cannabis flower consistently top the market. Experts have made it clear that the most methodical ethos for producing fiscal results has to do with building out the vertical integration of a company's structure. These companies have the ability to produce top-shelf product resulting in higher margins than many competitors in the cannabis sector. Leafbuyer Technologies Inc (OTC: LBUY), CV Sciences Inc (NASDAQ: CVSI), MedMen Enterprises Inc (OTCQX: MMNFF) (CNSX: MMEN), and Terra Tech Corp (OTCQX: TRTC) represent 4 marijuana stocks leading the pack on Monday.
Leafbuyer Technologies Inc (OTC: LBUY) is the most comprehensive online resource for information related to cannabis, as well as how to procure products currently available on the market. More than ever, consumers depend on online resources to research the products they are interested in buying and, prior to Leafbuyer's platform, no reliable source existed for information on cannabis and related products.
Leafbuyer Technologies Inc (OTC: LBUY) earlier this month announced that the total number of Greenlight platform users has reached nearly 80,000. The statement follows a March 13, 2019, release announcing Leafbuyer's rollout of the Greenlight technology in Colorado and Oklahoma. For those unfamiliar with Greenlight, the platform allows users to order ahead and earn loyalty points at participating dispensaries. The technology allows for significant increases in customer retention and overall customer satisfaction.
Following the announcement, Kurt Rossner, Chief Executive Officer of Leafbuyer Technologies Inc (OTC: LBUY), said, "the rapid geographic implementation of the Greenlight technology and a large number of users is encouraging. Developments are underway to bring new features to the platform that are expected to be a catalyst for continued revenue growth. We plan to expand the footprint further and optimize this technology to make it a staple in every legal market across the country."
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CV Sciences Inc (CVSI), a supplier and manufacturer of hemp CBD products through its industry-leading brand, PlusCBD Oil™, last week announced the appointment of Joerg Grasser as Chief Financial Officer, effective March 21, 2019. Prior to his role at CV Sciences, Mr. Grasser served as Controller of Ballast Point Brewing, a subsidiary of Constellation Brands, Inc. He also held senior finance positions with Sequenom, Inc. and Peregrine Semiconductor Corporation.
Joseph Dowling, Chief Executive Officer of CV Sciences, commented, "in Joerg's short tenure at the Company, he has been an instrumental addition to our team, driving excellence in our financial reporting and strategic counsel to all of our corporate and financial decisions. We are very pleased to have him accept the additional responsibilities of CFO and we look forward to capitalizing on the rapidly growing opportunity that lies ahead."
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MedMen Enterprises Inc (MMNFF) (MMEN) at the tail-end of last week announced that the Company has signed a binding term sheet for a senior secured convertible credit facility of up to $250 million from funds managed by Gotham Green Partners, an investor in the global cannabis industry. Management believes this is the largest investment to date by a single investor in a publicly traded cannabis company with U.S. operations.
Jason Adler, managing member of GGP, stated, "we continue to be impressed with MedMen's industry leading retail execution and iconic branding. With MedMen's fortified balance sheet, the Company's future has never been brighter. We feel fortunate to have the opportunity to take such a significant stake in MedMen and begin to work actively with the management team and the board to help the Company achieve its goals."
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Terra Tech Corp (TRTC), a vertically integrated cannabis-focused agriculture company, last week announced that the City Council of San Leandro, CA voted last night to approve an ordinance for adult-use cannabis sales in the City of San Leandro. The ordinance is subject to a second reading which is scheduled to occur on April 1, 2019, and will go into effect on May 1, 2019. The ordinance would allow for existing medical dispensaries to sell cannabis to recreational users 21 years of age or older, starting May 1, 2019.
Following the announcement, Derek Peterson, Chief Executive Officer of Terra Tech, said, "this ruling by the City Council of San Leandro brings us a step closer to serving the adult use market in that region. The Blüm, San Leandro medical cannabis dispensary opened in January this year, to strong demand, and we are excited to prepare for a ramp in sales. We are currently developing proprietary cannabis strains and genetics at our West Grand Avenue cultivation facility, which we plan to sell through our San Leandro dispensary under our IVXX® premium brand."
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