3 Cannabis stocks preparing for Canada's big day

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Cannabis stocks continue to hold the attention of investors in the market. In less than a week Canada will become the second country in the entire world to have legalized recreational marijuana on a national level. Interest is still buzzing about which "traditional company" will be next to enter the space. So far we've seen companies like Molson Coors (TAP) and Constellation Brands (STZ) throw their hats in the ring through strategic investments into cannabis companies. Other reports suggest that soft drink companies like Pepsi or Coca-Cola may be interested as well. This week investors are looking at a number of cannabis companies including Integrated Cannabis Company (ICNAF)(ICAN), Aurora Cannabis (otcqx:ACBFF)(ACB) and Tilray TLRY, +6.08%

Integrated Cannabis Company (ICNAF) (ICAN) recently announced the successful completion and positive results of a controlled trial of its proprietary Sleep product.

"…our experience with the infusion of CBD into the tested formulation has rendered profound increased benefits. Furthermore, we are actively seeking clinical study relationships in legal jurisdictions outside of North America for our cannabinoid-based products and expect to replicate the aforementioned study in the near term. The spray has the added benefit of being easy to use, is fast acting, promotes a superb night's rest and does not leave you feeling groggy in the morning," said Dr. Clive Spray, CSO of Integrated Cannabis.

Shares of Integrated Cannabis have jumped by more than 100% over the last few months prior to the Canadian legalization date.

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For More Information On Integrated Cannabis Company, Click Here

Aurora Cannabis (otcqx:ACBFF)(ACB) has also caught attention recently. The company released fiscal fourth-quarter earnings and confirmed its intention to list stock on a "senior" U.S. exchange such as the Nasdaq or the New York Stock Exchange.

Aurora Chief Executive Terry Booth said, "This listing provides access to a broader investor audience who gain the opportunity to participate in our continued success."

In addition to this, the company is slated to become the fourth Canadian cannabis company after Canopy Growth (CGC) (WEED), Tilray, and Cronos Group (CRON) to be listed in the US stock market. This week, Aurora Cannabis announced that it has applied to be listed on the NYSE (New York Stock Exchange).

For More Information On Aurora, Click Here

Tilray (TLRY) shares saw pressure during the Tuesday and Wednesday trading sessions with shares falling below $130/ share. This is far off its previous all-time highs of $300 that helped build the original attention on this company. The cannabis research, cultivation, production and distribution company recently announced the pricing of $450 million aggregate principal amount of Convertible Senior Notes due 2023 in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. Tilray also granted the initial purchasers of the notes an option to purchase up to an additional US$67.5 million aggregate principal amount of notes. The offering was upsized from the previously announced $400 million aggregate principal amount.

The initial conversion rate for the notes settled at 5.9735 shares of Class 2 common stock per US$1,000 principal amount ($167.41/share). That represents a 15% premium to the last closing price.

Tilray intends to use the net proceeds from this offering for working capital, future acquisitions and general corporate purposes, and to repay the approximately $9.1 million existing mortgage related to its facility in Nanaimo, British Columbia.

For More Information On Tilray, Click Here

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