The CannaBusiness Group Inc.’s (OTCPINK: CBGI) stock volume and share value soared, with 32,117,104 shares changing hands, more than six times its three-month average volume of 5,025,360 shares.
CBGI’s share price closed at 21 cents on Mar. 14, up 8 cents, or 59%, from its share price of 24 cents the previous day.
The surge in volume and share value comes on the heels of an announcement that the Mission Viejo-based leasing company acquired 17.3 acres located in Northern California with its own water source which is being leased to a licensed medical-marijuana tenant.
The property is being purchased for $275,000 with restricted common stock and cash.
The CannaBusiness Group’s CEO Michael Cummings commented, “This purchase represents the type of transaction that The CannaBusiness Group, Inc. aspires to accomplish. The property is located in Butte County, California. And we believe a purchase like this meets our financial criteria and gives us a great asset base to build off as we continue to execute our strategy of acquiring land or commercial properties.”
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Greengro Technologies to Enter Medical-Marijuana Vaporizer Business
In other news, Greengro Technologies Inc. (OTCPINK: GRNH), a company that provides construction and maintenance services for medical and recreational marijuana growers, announced on Mar. 13 that it has acquired a provisional-patent-pending technology for an efficient medical electronic vaporizer for the delivery of medical marijuana.
The Anaheim, Nev.-based company said it has formed Greensticks, Inc. to serve as the distribution and development arms of the technology and is wholly owned by Greengro Technologies.
According to the press release, the product line paves the way for the company's move towards sales into licensed dispensaries. This product launch will also be supported by a national advertising campaign by one of the largest industry trade publications, High Times Magazine. Greensticks initial product launch will feature the benefits for the refined extras of CBD. Indica and Sativa medicinal properties will also be highlighted with this technology. Additionally, natural herbal remedies that are universally used to treat relaxation, energy, sexual enhancement and hangovers will be launched.
Spate of Good News
This is just the latest piece of good news coming from the Anaheim, Calif.-based company
On Mar. 3, Greengro announced that its initial design bid for one of Arizona's grow and cultivation projects allowed under the Arizona Medical Marijuana Act has been accepted.
This first phase of the project encompasses site design and installation of Greengro's premier Modular Systems. Subsequent to mandatory tenant improvements, the project will begin in earnest in Q2 2014.
The project is a multiphased build for one of Arizona's indoor grow operations with all products and services provided by Greengro. Upon completion of the Modular Systems installation, Greengro will enter into the next phase comprised of fully automated maintenance and management systems.
"We are very pleased that we are finally entering into the first phase of this project. Utilizing our Modular System design, the project will be completely operational in less time and resources than a traditional build,” Greengro Technologies CEO James Haas said, in a written statement.
GRNH share price closed at 58 cents on Mar. 14, down 9 cents from its share price of 69 cents the previous day.
Find out what could be the best investor’s move when it comes to GRNH by getting the complete report here, or by cutting and pasting the following link in your Web browser:
OSL Holdings Inc. Entering the Legal Marijuana Business
Meanwhile, OSL Holdings Inc. (OTCQB: OSLH) stock volume also skyrocketed Mar. 14 , with 11,151,349 shares changing hands, more than seven times its three-month average volume of 1,662,662 shares.
The sudden surge in stock volume is no doubt being triggered by the Orangeburg, NY-based holding company’s Mar. 10 announcement that it’s entering the legal marijuana market.
According to OSL Holdings, it has contracted with one of the oldest legal medical marijuana dispensaries in California, The Natural Way of LA, to develop marijuana production facilities in California.
OSL said it intends to form a separate subsidiary to create production facilities in states that presently have legal medical marijuana dispensaries and also position itself to accommodate the growing recreational markets in Colorado and Washington and elsewhere as legal recreational markets emerge. OSL intends to spin off that subsidiary to its existing shareholders after complying with necessary SEC filings and procedures.
In addition, The Natural Way of LA has executed a marketing agreement with the Equality Rewards division of OSL committing to participate in Equality Rewards.
OSLH’s share price closed at 19 cents on Mar. 14, down 5 cents from its share price of 24 cents the previous day.
Find out what could be the best investor’s move when it comes to OSLH by getting the complete report here, or by cutting and pasting the following link in your Web browser:
Melanoma Drug Complete Phase II Study
In the biotech sector, Provectus Pharmaceuticals (OTC: PVCT) share price closed at $2.42, down 13 cents from the share price of $2.65 cents the previous day.
The development-stage pharmaceutical company is developing medicines for oncology and dermatology applications. Provectus product line includes PV-10, a Phase II study completed drug candidate for metastatic melanoma, a Phase I study completed candidate for breast cancer, and a Phase I protocol expansion candidate for liver metastasis.
In addition it is conducting PH-10, a Phase IIc randomized study initiated drug candidate for the treatment of psoriasis, and Phase II study completed candidate for atopic dermatitis. It also develops PH-10 for the treatment of actinic keratosis and severe acne vulgaris.
Moreover, the company develops over-the-counter pharmaceuticals, including GloveAid, a hand cream with antiperspirant and antibacterial properties; Pure-ific line of products to prevent the spread of germs on skin; and Pure-Stick and Pure N Clear acne products.
Find out what could be the best investor’s move when it comes to PVCT by getting the complete report here, or by cutting and pasting the following link in your Web browser:
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