A developer of cannabis-based pharmaceutical products Cannabis Science Inc. (NASDAQ OTC: CBIS) announced that it has finalized its $1,000,000 private placement and the funds have already been put into the bank.
The investors included Weedmaps Media Inc., the world's largest online guide for medical cannabis patients, and an unnamed Amsterdam-based investment company.
“We view this investment and collaboration as a great vote of confidence by those who know our industry best, and this is a major step forward for our company, giving us the kind of financial, market, and industry support that we see as key to the growth model of Cannabis Science,” said Director and CEO of Cannabis Science Dorothy H. Bray.
The pricing for the private placement was set at $0.25 per share for 144 restricted shares coupled with a one-year warrant for $0.50 per share to comprise a complete unit offering.
This is just one piece of good news reported by the Colorado Springs, Colo.-based company.
On Feb. 13, Cannabis Science announced its new partnership with Michigan Green Technologies, LLC formed to actively lobby for the legalization of hemp and cannabis in President Obama’s home state of Michigan.
Robert Kane, Director and CFO of Cannabis Science, stated, “Michigan has always been an important market, and with a population twice the size of Colorado's, we see many opportunities ahead through our new venture with Michigan stakeholders."
Cannabis Science has been lobbying hard for the decriminalization of cannabis research, which is definitely makes it a player that is serious about developing products in a timely and safe fashion.
Find out what could be the best investor’s move when it comes to CBIS by getting the complete report here, or by cutting and pasting the following link in your Web browser:
Lobbying Hard to Make Cannabis Research Possible
Before it began its focus on Michigan, Cannabis Science has and continues to systemically lobby Congress.
The company's government relations team lead, Rick Blake, is working with the U.S. House of Representatives' Cannabis Caucus to ensure that President Obama signs an Executive Order to decriminalize cannabis research. This is one of the bipartisan initiatives of the members of the Cannabis Caucus being facilitated by Cannabis Science. In contrast to many other countries Cannabis Science believes the regulatory landscape of the United States creates unreasonable restrictions on the ability of scientists and physicians to explore promising patient-driven research involving cannabis and cannabinoids.
“Thousands of patients are awaiting the President's action to set cannabis research free,” said Director and CEO of Cannabis Science Dorothy Bray, in a Jan. 29 written statement.
CBIS share price closed at 20 cents on Mar. 18, up 1 cent from its closing price of 19 cents the previous day.
SK3 Group Inc. Signs On New Distributor in Orange County California
Meanwhile, SK3 Group Inc. (OTC PINK: SKTO) stock soared Mar. 18, with 65,137,503 shares changing hands, significantly higher than its three-month average of 40,872,848 shares.
The strong stock volume comes a day after the Miami-Fla.-based acquisition company announced it has signed an additional new distributor in Orange County, California for its wholesale managed collective portfolio. This step increases the reach of its wholesale managed collective portfolio into additional medical cannabis dispensaries and delivery services for its various product lines including: Dharmanol, Canna-Loz Organic Oil, T-Hydro-Can, Yak Capsules, Yeti Honeybud Oilers, Organakoil, Red Diamond Oil, Greenie Whole Plant Cookies, Haute Chocolate Instant Drink Mix, and Mocha-juana Instant Drink Mix, and opens the way for further expansion of the Pharmajanes.com delivery service.
“This is an important addition to the distribution network for our wholesale managed collective portfolio," said President of SK3 Group Artemus Mayor. "While continuing development of our product portfolio, we are systematically widening our distribution network in order to facilitate getting medicine to more patients who need it. This latest progress expands our reach into a significant California local market,” he added.
This latest positive news come a little more than a month after SK3 Group announced that it was partnering with Alternative Energy Partners (OTCQB: AEGY), doing business as PharmaJanes,™ to expand their e-commerce order medical-marijuana servicing platform to include an additional 35 zip codes in California.
PharmaJanes™ facilitates enrollment of medical marijuana patients in its exclusive network of dispensaries by processing and verifying patients' applications in accordance with California state law requirements.
PharmaJanes™ then routes the orders to its exclusive non-profit collectives, which then process and deliver the orders to patients. Upon verification and completion of the application process, patients have access to all medical cannabis products available on the PharmaJanes™ menu for ordering and delivery. PharmaJanes™ features products produced by master growers, and products licensed by SK3 Group to its wholesale managed collectives.
This is just the latest bit of good news for the Miami-Fla. – based company that provides consulting services for California marijuana growers. On Feb. 14 the company announced that SK3 Group’s subsidiary has brought to market a cannabis-based supplement that will be sold by various stores in California.
Solid Track Record
While you have to take most announcements from penny stocks involved in medical marijuana industry with a healthy dose of skepticism, Sk3 Group’s past financial record makes it an exception to this rule. As with all new product rollouts you must not be overly optimistic, but at least this company know how to make a profit.
Its third-quarter 2013 results were decent, according to its SEC filing:
- current assets: $22.7 million - total assets: $23.7 million - cash: $129 thousand - total current liabilities: $2.3 million - revenue: $17.5 million - net income: $3.2 million
On Mar. 18, SKTO’s share price closed at 4 cents, up 1 cent from its closing price of 3 cents the previous day.
Find out what could be the best investor’s move when it comes to SKTO by getting the complete report here, or by cutting and pasting the following link in your Web browser:
Easton Pharmaceuticals Inc.’s Stock Volume Soars after Entering Medical-Marijuana Business
In other news, Easton Pharmaceuticals Inc. (OTCPINK: EAPH) enjoyed robust stock volume Mar. 18, with 47 million shares changing hands, substantially higher than its three-month average of 41.4 million shares.
The surge in volume come a week after the company made an announcement that it was getting into the medical marijuana business.
On Mar.11, the Toronto-based specialty pharmaceutical company took a step toward that goal by reaching an agreement with Hemp Life Today LLC to jointly develop and distribute an exclusive line of health and beauty hemp-based products on HempLifeToday.com.
The agreement outlines that Easton Pharmaceuticals will design new and innovative hemp-based products which Hemp Life Today will market and distribute worldwide through its product website. The first hemp product to be offered on HempLifeToday.com will be Easton Pharmaceutical's newly developed Hempstral SA, an anti-aging skin moisturizer designed to combat and prevent premature aging and sun damaged skin.
Hempstral SA consists of high quality hemp oil which can now be legally obtained from US based producers and will be showcased at the Total Health Show in Toronto this April. Hempstral SA is transdermally delivered through skin tissue using Easton Pharmaceuticals' transdermal delivery matrix and formulations, which are patented or patent pending. Both companies plan to introduce other hemp-based products utilizing this technology moving forward.
On Mar.18, EAPH share price closed at 6 cents, down 1 cent from 7 cents share price at the close of the previous day.
Find out what could be the best investor’s move when it comes to EAPH by getting the complete report here, or by cutting and pasting the following link in your Web browser:
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