Marijuana Stocks: Tuesday Market Rebound

Kush Bottles (OTCQB: KSHB), a leading provider of packaging, supplies, vaporizers, accessories and branding solutions for the regulated cannabis industry, today announced it was selected by Future Farm Technologies Inc. (CSE: FFT) (OTCQB: FFRMF) to develop a suite of customized packaging and comprehensive compliance solutions to support its expansion into new territories. Future Farm is rapidly expanding its footprint in the cannabis and hemp sectors nationwide. Kush Bottles will support Future Farm’s expansion and offer branded packaging solutions to ensure Future Farm maintains compliance with state-level regulations at all times.

“Kush Bottles offers a comprehensive suite of high quality cannabis packaging, branding and compliance solutions all under one roof, and has a strong track record of working with fast-growing cannabis companies, making them the right partner for us as we implement our strategy to scale the business” comments Mr. William Gildea, CEO and Chairman of Future Farms. Future Farm Technologies Inc.’s business model includes developing and acquiring technologies that will position it as a leader in the evolution of Controlled Environment Agriculture (CEA) for the global production of various types of plants, with a focus on cannabis.

Shares of KSHB saw a strong rebound of 7.2% today along with the rest of the Cannabis sector. KSHB closed trading today at $5.68 with 736k shares traded. With most of the market selling off the past few days investors are now stepping in looking for bargains.

MedReleaf Corp. (TSX: LEAF) (OTCPK: MEDFF), Canada’s first and only ISO 9001 and ICH-GMP certified cannabis producer, today announced that it has received Health Canada approval for the sale of its cannabis oil softgel capsules, becoming the first licensed producer (“LP”) to bring color-coded and cannabis variety-specific softgel capsules to market and the only LP to manufacture softgel capsules from a certified ISO and GMP facility. Color coding ensures that patients will know the specific cultivar or type of oil product they are consuming.

“These products provide access to cannabis for an under-served patient community more comfortable taking their medication in a traditional capsule rather than by oil or through vapourizers,” said Robert Gora, Senior Director of Physician Outreach. The addition of softgel capsules to our product line will enhance our efforts to build physician support for medical cannabis and are more cost effective to produce, easier to swallow, and have a longer shelf-life than standard oil capsules,” added Neil Closner, CEO of MedReleaf.

LEAF bounced back nicely today closing the day at $18 per share up 7% on volume of 1.79m. Along with most of its peers, LEAF had dropped nearly 42% from its 52 week high of $31.25 in only a few weeks. It will be interesting to see if this is the bottom and if bulls can once again regain control.

Aurora Cannabis Inc. (TSX: ACB) (OTCQB: ACBFF) and CanniMed Therapeutics Inc. (TSX: CMED) today announced the filing of Aurora’s Notice of Variation and CanniMed’s Notice of Change to Directors’ Circular (collectively the “Offer Documents”) in connection with Aurora’s improved offer to acquire all of the outstanding common shares of CanniMed (“CanniMed Shares”) not already owned by Aurora or its affiliates, described under “Aurora’s Notice of Variation” below (the “Improved Offer”). As previously announced by the parties on January 24, 2018, CanniMed’s board of directors (the “CanniMed Board”) is unanimously recommending that CanniMed’s shareholders accept the Improved Offer.

Shares of ACB soared 24.6% today on huge volume of 52m. The stock closed trading at $11.53 per share. The stock has rallied over 50% in the past 2 trading sessions after briefly dipping below the $7.50 during the market sell off.

GW Pharmaceuticals plc (NASDAQ:GWPH), a biopharmaceutical company focused on discovering, developing and commercializing novel therapeutics from its proprietary cannabinoid product platform, announces financial results for the first quarter ended 31 December 2017.

“With the Epidiolex regulatory applications accepted for review in both the US and Europe, and an assigned mid-year FDA decision date, 2018 is expected to be an exciting year for our Company with an anticipated first U.S. approval and launch. The commercial teams are making great progress toward launching Epidiolex with full conviction,” stated Justin Gover, GW’s Chief Executive Officer. “We also continue to see a significant flow of clinical data from the Epidiolex program through both medical meetings such as the American Epilepsy Society and in publication including our recent Lennox-Gastaut syndrome results in The Lancet. Beyond Epidiolex, we expect to progress a number of important pipeline programs during 2018 that have the potential to offer additional value.”

GWPH sold off in early trading after the company announced earnings  that missed on EPS. On the bright side the company beat expected revenue and was able to battle back later in the trading session to close down only 2.3% at $129.49 with 1.4m shares changing hands.

22nd Century Group, Inc. (NYSE MKT: XXII), a plant biotechnology company focused on tobacco harm reduction and hemp/cannabis research, announced today that the Company will present at the BIO CEO & Investor Conference at the New York Marriott Marquis on Monday, February 12, 2018 at 2:00 PM EST. Henry Sicignano III, President and Chief Executive Officer of 22nd Century Group, will deliver a formal presentation and will discuss the Company’s recent business highlights and updates. Mr. Sicignano will also be available for one-on-one meetings with investors at the conference.Now in its 20th year, the BIO CEO & Investor Conference is one of the largest investor conferences focused on established and emerging publicly traded and select private biotech companies.

XXII saw its shares rise sharply gaining back 12.9% while closing the day at $2.89 per share on volume of 6.1m. The stock has declined recently along with the rest of the sector after reaching a new 52 week high in mid January. It will be interesting to see if bargain hunters step in at these levels.

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