Marijuana Business News

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stocks
business
Thu
10
Jan

U.S. firm building a 'cannabis superhighway' plans to list in Canada to raise capital

MJIC Inc., a pot distributor building a “cannabis superhighway” in California, is planning a Canadian listing by the end of February.

The company, based in Commerce, near Los Angeles, plans to sell shares on the Canadian Securities Exchange via a reverse takeover, Chief Executive Officer Sturges Karban said in a phone interview. MJIC has hired Haywood Securities Inc. to identify a Canadian shell company to enable the deal.

“Our timeline to get through to that point is probably another 30 to 45 days or so,” he said. Karban declined to say how much MJIC expects to raise but said the listing would be followed by a “much broader, bigger offering.”

Thu
10
Jan

Weed was ablaze in 2018; 2019 could burn even brighter

2018 was a pivotal year for pot, with both the legalization and legitimization of the drug gathering steam.

Beginning with Australia giving the green light to cannabis exports, and ending with the New Zealand government announcing it will hold a referendum on recreational pot legalization in the next general election come 2020, 2018 saw an increasing mainstream acceptance of weed.

Thu
10
Jan

3 Canadian marijuana stocks set for a major U.S. up-listing?

The Canadian marijuana stocks we’ve discovered are the likeliest candidates to list on a major U.S. stock exchange. If successful, these Canadian cannabis companies could see even greater upside momentum.

Thu
10
Jan

Canada's largest banks are betting big on weed

Canada's biggest banks are jumping into the marijuana business.

The Bank of Montreal and the Canadian Imperial Bank of Commerce provided an $80 million loan this week to PharmHouse Inc, a joint venture owned in part by Canopy Rivers, the venture investment arm of publicly traded Canadian marijuana cultivator Canopy Growth.

The deal marks the largest debt financing provided by top banks to a private marijuana company.

"Having secured what we believe to be the largest bank debt to a private company in the cannabis industry, one that is supported by a syndicate of three Schedule I banks, PharmHouse has gained substantial momentum," said Canopy CEO Bruce Linton in a press release.

Thu
10
Jan

Should you buy Cronos Group in 2019?

The marijuana industry certainly lived up to the hype in 2018. After years of promises that recreational cannabis would be legalized from Prime Minister Justin Trudeau, Canada made his vision a reality. As the first industrialized country to give the green light to adult-use pot, Canada opens its doors to what could be billions of dollars in added annual sales within the next two or three years.

Thu
10
Jan

Aphria Inc (TSX:APHA) vs. Aurora Cannabis Inc (TSX:ACB): Which weed stock will go higher in 2019?

2018 was a wild year for the cannabis industry. Between legalization, short attacks, lawsuits, and the epic Canopy Growth Corp acquisition by Constellation Brands, it was an incredible time to behold. But believe it or not, 2019 could be even bigger–at least for investors. Because while 2018 witnessed the biggest political event in the history of Canadian cannabis, 2019 will witness the biggest financial event: the publishing of quarterly reports that include three months of post-legalization earnings.

Thu
10
Jan

These 2 Canadian pot stocks are soaring!

Watching the share prices of legal Canadian marijuana has become something of a pastime in its own right, with every new development in the weed stock space making waves that are interesting to watch – interesting if you’re not invested, that is. If you are, it’s downright nerve-wracking. Shareholders still sticking their necks out for upside have been riding a pretty wild train these last few months, to say the least.

Thu
10
Jan

Are these top marijuana stocks to own in 2019?

The global marijuana market is growing, and investors are eager to invest in marijuana stocks likely to benefit from legalization.

The opening of Canada's recreational marijuana marketplace in October and the passage of propot laws in three more U.S. states mean the industry made big progress last year, but not every marijuana stock is worth owning.

While there are plenty of investment options for investors, here's why I think Canopy Growth (NYSE:CGC), Aurora Cannabis(NYSE:ACB), and KushCo Holdings (NASDAQOTH:KSHB)are top marijuana stocks to buy in 2019.

Thu
10
Jan

The 3 best Canadian pot stocks your money can buy in 2019

The legal marijuana industry is big business. According to investment firm Cowen & Co., the cannabis industry is expected to generate $75 billion in sales by 2030. That's up from a previous forecast of $50 billion by 2026. That's a lot of dollars, and presumably some companies have to come out a winner.

Wed
09
Jan

Aurora Cannabis expects final quarterly revenue to top $50M

Aurora Cannabis Inc. says it expects to report second-quarter revenue of between $50 million and $55 million.

Analysts had expected revenue at the marijuana producer to total about $67 million for the quarter ended Dec. 31, 2018, according to Thomson Reuters Eikon.

Aurora says the result for the quarter is up from $11.7 million in the same quarter a year ago and better than the $29.7 million for the quarter ended Sept. 30.

The increase was driven by the start of the adult consumer use market in Canada in October and shipments of medical cannabis to Aurora's base of roughly 71,000 patients in Canada.

The company says its production capacity is now about 100,000 kilograms per year, up from 70,000 in November.

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