MediJane Holdings Inc. (OTCQB: MJMD) stock volume surged Mar. 21, with 793,961 shares changing hands, more than four times its three-month average volume of 185,325 shares.
The sudden uptick in stock volume is being fueled in part by the Bloomfield, Colorado-based company's announcement that it has entered into a License Agreement with Phoenix Bio Pharmaceuticals Corp. ("Phoenix Bio Pharm"), a Colorado-based developer of medicinal cannabinoid products and delivery systems for the treatment and management of illnesses.
Offering Various Medical-Marijuana-Based Products
As per terms of the License Agreement, MediJane has acquired an exclusive North American license for all intellectual property, processes, and expertise related to certain medicinal cannabinoid products and delivery systems developed by Phoenix Bio Pharm and its team.
Medicinal cannabis products falling under the License Agreement include transdermal patches, orally administered extracts, concentrated extracts for vaporizers and inhalers, sublingual and buccal dispensing products and extraction technology, suppository delivery systems, salves, creams, gels, lotions, and liquid extracts, and any products or active ingredients sources through Phoenix Bio Pharm affiliates or third party suppliers or licensors. The Company will also have the right to sublicense the rights and to utilize Phoenix Bio Pharm copyrights for marketing and distribution purposes.
In consideration of the license, the Company issued 26,000,000 restricted shares of its common stock to Phoenix Bio Pharm. These shares were issued pursuant to an exemption from registration relying on the exemption from registration provided for under Rule 506 of Regulation D, promulgated under the United States Securities Act of 1933, as amended.
On Mar. 21, MJMD's share price closed at $1.43, down 3 cent from its closing price of $1.47 the previous day.
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Rapid Fire Marketing Stock Volume Soars On News of Being Listed On OTCQB
In other news, Cannabis vapor inhaler maker Rapid Fire Marketing (OTCQB: RFMK) stock volume soared Mar. 21, with 375,048,320 shares changing hands, nearly three times its three-month average of 139,838,978 shares.
The surge in stock volume is probably being fueled by Rapid Fire Marketing's Mar. 20 announcement that the Carson City, Nev.-based company is fully reporting and is now listed on the OTCQB.
OTCQB companies must be registered with and reporting to the SEC. Rapid Fire Marketing has now obtained the services of a Market Maker to file, or essentially "sponsor", the Company onto the Over the Counter Bulletin Board (OTCBB). As previously announced, the company will be applying for a name and ticker symbol change with FINRA.
"This has been a long and arduous journey, but we have finally arrived as a fully reporting Company with the SEC." said Rapid Fire Marketing's CEO Tom Allinder; said in a written statement. "Now the real work begins in building a diversified stream of income into this Company. I want to thank our shareholders for their patience as we moved through this process that took the better part of two years," he added.
On Mar. 21, RFMK's share price closed at 0.0064 cents, up 0.0025 cents, or 64% from its closing price of 0.0039 cents the previous day.
United Treatment Centers Completes the Retirement of 3 Billion Shares of Its Stock
Meanwhile, United Treatment Centers (OTCPINK: UTRM), an Internet-based news content provider for the marijuana industry, share volume continued to skyrocket Mar. 21, with 776,211,776 shares changing hands, more than six times its three-month average volume of 123,027,721 shares.
The uptick in stock volume and share value comes on the heels of the Mar. 19 announcement that the Los Angeles-based company has verified with the transfer agent that the cancellation of the 3 billion shares of common stock announced on Feb. 7, 2014 has been completed.
"It is with great pleasure that we can put this issue to bed! We understand that the shareholders have looked forward to having this issue finished. Currently we are working to update the financial information posted on all websites to properly represent the company as it now is structured," United Treatment Centers CEO Chris Seminatore stated.
On Mar. 21, UTRM's share price closed at 0.0076 cents, up 0.0033 cents from its closing price of 0.0043 cents the previous day.
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