Cannabis traders have been seeing green, in more ways then one.
To say it’s been an eventful few weeks in this space would be an understatement. Traders and investors were rewarded handsomely in November and the trend shows no signs of slowing for these promising companies.
The month of November as a whole absolutely saw a noticeable bump in shares of Cannabis related companies, not only in the States but on the Canadian exchanges as well. In this weekly publication we will outline the top ten highlights in this burgeoning sector. Needless to say, its been blazing – not only for the consumers, but for the investors as well.
So, without further ado, here are the highlights of note (in no particular order):
1) GW Pharmaceuticals plc (NASDAQ: GWPH) a biopharmaceutical company focused on discovering, developing and commercializing novel therapeutics from its proprietary cannabinoid product platform, announced this week that it intends to sell, subject to market and other conditions, $225 million of American Depositary Shares (“ADSs”) representing ordinary shares of GW on the NASDAQ Global Market in an underwritten U.S. public offering.
Shares of GWPH had a strong November rallying nearly 30% to a high of $129.75. The stock is currently trading at $124.02 per share.
2) Kush Bottles, Inc. (OTCQB: KSHB) a provider of “packaging, supplies, vaporizers, accessories and branding solutions for the regulated cannabis industry” reported financial results for its fiscal year ended August 31, 2017. According to it’s recent release on the 28th of November:
- Revenue was up 129% Year-over-Year to $18.8 million.
- Gross margins held steady at 33%
- Net income, including $943,000 in non-cash stock compensation, $301,000 in depreciation and amortization expense and $4.6 million in SG&A, was $69,000 compared to net income of $72,000 in fiscal year 2016.
- Working capital was $3.45 million compared to $2.03 million at August 31, 2016.
Shares of KSHB rallied significantly in November nearly doubling from $1.75/share to almost $3 per share.
3) Terra Tech Corp. (OTCQX: TRTC) – a vertically integrated cannabis-focused agriculture company – issued news on the 29th of November, stating that its Chief Executive Officer, Derek Peterson, will present at the LD Micro Conference on December 6, 2017 at 2:00PM PST / 5:00PM EST at the Luxe Sunset Bel Air Hotel in Los Angeles, California. The Corporate Presentation will be webcast at http://wsw.com/webcast/ldmicro13/trtc/, an archive of the presentation will also be made available on the Company’s investor relations website. Mr. Peterson will also participate in a panel discussion on the future of the cannabis industry on December 6, 2017, at 6:30PM PST.
4) Medical Marijuana, Inc. (OTCPK: MJNA) announced news on the 27th of November that its subsidiary Kannaway, LLC, the first hemp lifestyle network to offer cannabidiol (CBD) hemp botanical products, has released Limited Edition Peppermint Chocolate Energy Chews.
Shares of the company saw an increase in November of nearly 50% rising from $0.08 to $0.12 per share.
Canadian & TSX Listed Companies:
5) Aphria Inc. (TSX: APH) (OTCQB: APHQF) on December 4th announced that it has entered into an agreement to become a medical cannabis supplier to Shoppers Drug Mart.
Under the terms of the agreement the Company will supply Aphria branded medical cannabis products. Subject to Health Canada’s approval of Shoppers Drug Mart’s application to be a licensed producer, the products will be sold online, as Canadian regulations currently restrict the sale of medical cannabis in retail pharmacies.
Shares of APH rose sharply during the month of November earning investors potential gains of 67% while reaching an all time high of $14.89 per share. APH shares are currently changing hands at $13.16 per share.
6) Future Farm Technologies Inc. (CSE: FFT) (OTCQB: FFRMF) announced on the 29th of November that it has closed on a previously announced acquisition of a 120-acre industrial hemp farm in Amity, ME. With this acquisition, Future Farm is “now strategically positioned in both the fast-growing hemp market as well as the cannabis market.” according to the release. It’s shares, like many in the cannabis space has also seen a boost in the month of November. Rising from approximately fifteen cents per share to almost forty cents per share.
“We are thrilled to be able to acquire this prime land to farm hemp as we will leverage our oil extraction techniques into the CBD business,” comments Bill Gildea, CEO of Future Farm. “We are excited to be working with Derek Ross on this project as well as on other projects which are in our pipeline.”
FFT was another stock that had a very strong November more then doubling in price. Investors of FFT saw their shares rise from $0.18 to close the month out at a high of $0.48 per share. That’s a rise of 118%
7) Canabo Medical Inc. (TSXV: CMM) (OTCQB: CAMDF) issued press and announced on the 30th of November the opening of three new partnership Canabo Medical Clinics. The clinics are located in British Columbia and Ontario according to the recent release. Shares of the company are thinly traded and currently trade around the fifty cent per share level, doubling in price since the month of September this year.
Shares of CMM surged higher in the month of November jumping 87% from $0.40 per share to a high of $0.75.
8) ABcann Global Corporation (TSXV: ABCN) OTCQB: ABCCF) announced on the 29th of November the release of its financial results for the three and nine months ended September 30, 2017.
Highlights from Q3/17 as per the release:
- Cash position of over $43 million.
- Revenues of $614K for the nine months ended September 30, 2017 as compared to $211K in the comparable prior year period.
- Cancellation of 15 million dilutive warrants as a result of the completion of the $15 million equity financing with Cannabis Wheaton Income Corp. in July 2017 and the exercise of warrants for aggregate proceeds of approximately $7.5 million.
Shares of ABCN skyrocketed 90% during the month of November rising from a low of $0.95 and hitting a high of $1.81 per share.
9) Golden Leaf Holdings Ltd. (CSE: GLH) (OTCQB: GLDFF), a “leading cannabis oil solutions company built around recognized brands” announced its unaudited financial results for the third quarter ended September 30, 2017 (“Q3 2017”) and a general business update. Shares of the company have seen a doubling in price during the month of November, surging from twelve cents per share to north of a quarter per share in a short time frame.
Golden Leaf Holdings Recent Business Highlights: Received city license to sell cannabis in Las Vegas and other key Nevada jurisdictions;
- Secured $10.8 million USD in a debenture financing to pay off outstanding accounts payable and provide working capital;
- Completed the acquisition of Medical Marijuana Group Corporation (“MMGC”); and
- MMGC received a cultivation license from Health Canada for Ontario grow facility.
Third Quarter Ended September 30, 2017 Financial Results:
- For the third quarter ended September 30, 2017 (“Q3 2017”), net revenue was $3.1 million USD as compared to $2.4 million USD for the same three-month period in 2016 (“Q3 2016”). Q3 2016 included $240,000 USD in non-recurring royalty revenue.
- Gross profit was $731,000 USD, or 23.7% of net revenue, for Q3 2017, compared with 21.3% of net revenue in Q3 2016, and 19.2% of net revenue in the second quarter of 2017.
- Operating expenses for Q3 2017 were $4.7 million USD compared with $2.3 million USD in Q3 2016.
GLH was one of the top performing Cannabis stocks in the month of November. Shares of GLH rose dramatically from $0.18 to an intra day high of $0.50 per share. This sharp rise in share price offered up investors possible gains of 178%.
10) Newstrike Resources Ltd. (TSXV: HIP) (OTCPK: NWKRF) reported that its interim financial statements and management’s discussion & analysis (“MD&A”) for the period ended September 30, 2017 are available on SEDAR at www.sedar.ca. In light of the Company’s previously disclosed change in year-end from March 31 to December 31, the Financial Statements and MD&A are for the three and nine months ended September 30, 2017.
The company’s shares – like many in the cannabis space this month – have seen a spike in price from $0.36 per share to a high $0.60 offering investors potential gains of 67%.
There you have it, traders, the top ten cannabis headlines and newsworthy posts for the past few weeks. Stay tuned for our December update.
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