Growlife Inc.’s (OTCBB: PHOT) share volume soared Mar. 17, with 89,809,454 shares changing hands, double its three-month average of 45,553,507 shares.
The Woodland Hills, Calif. holding company that supplies equipment for legal marijuana growers share volume and value has risen in part on the news that it has entered into a joint venture with Vape Holdings, Inc. (OTCQB:VAPE) to fund the research and development of patentable technology to create pharmaceutical grade extractions from cannabis.
Under terms of the agreement, each company will bring its specific expertise to the joint venture.
Joint Venture with Vape
Growlife will provide equipment manufacturing while Vape Holdings provides guidance for the process technology and concentrate formulas. Cannabis extractions are a rapidly growing market segment of the legal cannabis market, and believed by many, including the partners, to be a significant part of the future of cannabis as consumers transition from the carcinogens often included with historical methods of drug delivery, to the more modern, safer, and efficient systems reliant on cannabis extracts.
To that end, the partners in the joint venture are intent on introducing medical, food and pharma grade practices into the cannabis industry; from cultivation to extraction to delivery, according to the press release.
This announcement comes only a week after Growlife completed its first GIFT transaction with CMMS, Inc., known better in the Colorado mountain ski communities as LEAF Aspen and Fat City Test Kitchen.
The Growlife Infrastructure Funding and Technology program (GIFT) allows fully-licensed and compliant growers and dispensaries in well-regulated cannabis markets to spread the cost of infrastructure builds over time. The GIFT program is intended to facilitate near term infrastructure needs paired with long term exclusive supply relationships for the expendables required by fully licensed growers and dispensaries.
On Mar. 17, PHOT shares closed at 78 cents up 19 cents from its closing price of 59 cents the previous day.
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Advanced Cannabis Solutions Stock Volume and Share Value Flat
Meanwhile, on Mar. 17, Advanced Cannabis Solutions’ (OTCQB: CANN) stock volume was flat with just 94,580 shares changing hands, less than half of its three-month average volume of 215,916 shares.
However, the Colorado Springs, Colo-based company that leases growing space and related facilities to licensed marijuana business share price gained some ground, closing at $34.50, up $1.15 from it closing price of $ 35.75 the previous day.
While there is no news coming from the company negative or positive, some industry experts believe the recent downtick in its share price is the result of investors taking a deep breath and getting their bearings on the new medical-marijuana industry.
In fact, a Mar. 17, report from BrokerBank Securities contends Advanced Cannabis was “at the perfect moment to capture the legal and regulatory zeitgeist.” The analyst’s report concluded that “CANN has ridden the marijuana stock boom to a valuation of over $500 million before showing any revenue or holding any assets.”
Good News Reaches Critical Mass
Up until now Advanced Cannabis Solutions stock had been on an upward trend, being fueled by a spate of positive news coming from the company along with its solid business plan backed by real estate investments.
On Feb. 20, Advanced Cannabis Solutions said it signed an agreement to provide comprehensive consulting services to a significant investor group in Canada. This group is involved in the start-up and operation of a large cannabis production operation serving the Canadian medical marijuana marketplace. The contract has a minimum duration of six months and a potential value in the low six figures.
In addition, the company that is headquartered in the middle of one of the first, vibrant legal-marijuana marketplaces in the country has recently been approved for a major line of credit.
These two elements are essential for Advanced Cannabis Solutions to be able to build and equip the facilities it wants to rent to cannabis growers.
In Colorado alone, the medical marijuana market is estimated to be $350 million in size while the legalization of recreational marijuana could expand that figure to over $500 million in 2014 by some accounts. These figures are significantly larger throughout the United States. Some analysts estimate the total market at between $10 billion and $120 billion per year in size, depending on the success of various legalization efforts and the components included in the estimates.
Gets 30-Million Credit Line
On Jan. 21, Advanced Cannabis Solutions announced that it had established a $30-million credit line.
According to a release, Advanced Cannabis Solutions signed a definitive agreement with Full Circle Capital Corp., a closed-end investment company. The agreement provides that the investment fund will initially provide $7.5 million to the company in the form of Senior Secured Convertible Notes, subject to certain conditions. An additional $22.5 million can be borrowed by Company with the mutual agreement of the company and the investment company.
At least 95% of the loan proceeds will be used to acquire properties, which the company consistent with its business plan, will lease to licensed cannabis growers.
"The six-year loan will be secured by real estate acquired with the loan proceeds, and will require interest-only payments at a rate of 12% per year," the release explained, outlining the agreement.
Find out what could be the best investor's move when it comes to CANN by getting the complete report here, or by cutting and pasting the following link in your Web browser:
Terra Tech Corp to Focus on Medical-Marijuana Opportunities in Northeast
Finally, Irvine, Calif.-based Terra Tech Corp. (OTCQB: TRTC), a company that provides hydroponic equipment for legal-marijuana growers, stock volume continued to soar Mar. 17 with 9,284,423 shares changing hands, significantly higher than its three-month average volume of 7,343,097 shares.
The uptick in volume is being fueled in part by Terra Tech’s recent announcement that it has formed a team that will focus on medical cannabis opportunities in the Northeast. The team will be headed by Evan Nison, the Executive Director of NORML New Jersey and Co-Founder and Director of New York Cannabis Alliance.
Evan, whose medical cannabis industry beginnings stem from the grassroots movement to tax and regulate initiatives, has been a driving force behind marijuana law reform in both New Jersey and New York. He brings years of experience and success running organizations focused on advocating on behalf of consumers, patients, business owners, and other stakeholders to progress sensible and responsible cannabis reform legislation.
This is just the latest move made by the company to firmly establish itself in the medical marijuana market.
On Jan. 29, Terra Tech Corp (through their subsidiary GrowOp Technology, said it formed a team focused on competing for permits to operate cannabis businesses within the state of Nevada. The team is to be headed by former principal lobbyist for the ACLU at the Nevada state legislature Rebecca Gasca, according to the release.
Hires Heavy-Duty Lobbyist
Gasca is CEO of Pistil and Stigma, a values-driven community and government relations firm that focuses on legislative change, public policy, program development, fundraising, advocacy and public relations. She is former Rotary International Goodwill Ambassador to Chile and recently served as a U.S. State Dept. Legislative Fellow to Nepal. In Nevada, she has lobbied successfully on hundreds of pieces of legislation and her firm worked closely on the medical marijuana dispensary legislation that was signed in to law by Republican Governor Brian Sandoval.
“We aligned ourselves with Rebecca due to her history of expertise in helping shape socially responsible legislation," Terra Tech Corp CEO Derek Peterson, said in a written statement. “She has been on the ground floor in Nevada since the inception of their medical cannabis dispensary bill and was instrumental in its formation. She is heading our team and assisting us in the formation of our applications,” he added.
On Mar. 17, TRTC’s share price closed at $1.22, up 7 cents from its close of $1.15 cents the previous day.
Find out what could be the best investor’s move when it comes to TRTC by getting the complete report here, or by cutting and pasting the following link in your Web browser:
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