4 Marijuana Stocks Picking Up Speed on Tuesday (2/19/19)
CORAL GABLES, FL / ACCESSWIRE / February 19, 2019 / The marijuana stock market has seen some of its best trading days over the course of the last few months or so. Following the passing of the U.S. Farm Bill, companies in the cannabis industry have been working tirelessly to build out their hemp-extraction operations in order to manufacture hemp products for the cannabis market. While legal hemp may not seem like a huge indicator for the potential rise of marijuana stocks, but the correlations between the two sects are staggering. Market analysts predict that this could be the year that cannabis skyrockets as companies in the sector continue to make strides in the right direction. The increase of growing approval coupled with capital flowing into the marijuana industry has resulted in attracting more investors looking for potential opportunities. Premier Health Group (OTC:PHGRF) (CSE:PHGI), Trulieve Cannabis Corp (OTC PINK: TCNNF ), HEXO Corp (NYSE American: HEXO), and Cresco Labs Inc (OTC PINK: CRLBF ) represent four pot stocks looking to lead their industry into the future.
Premier Health Group (OTC:PHGRF) (CSE:PHGI) is unlike many companies in the cannabis sector because its core framework is built around healthcare. Whereas other companies are solely focused on cultivating and manufacturing cannabis products, Premier is largely a healthcare provider, which means that the Company elected to enter the space because of its accessible bandwidth to do so. Rather than solely utilize their resources for their patients, the Company recognized the incredible opportunity in incorporating medicinal cannabis as a means of treatment.
Premier Health Group (OTC:PHGRF) (CSE:PHGI) provided consumers and investors in the cannabis sector with a corporate update towards the end of last week. Over the past year, the Company has completed several key strategic acquisitions, including Cloud Practice Inc, a healthcare technology company that provides cloud-based electronic medical records software applications for physicians throughout Canada.
As a result of this acquisition, Premier Health Group (OTC:PHGRF) (CSE:PHGI) now has a collective ecosystem of over 3,000,000 active patients and 287 primary care clinics. Additionally, Cloud Practice has seen revenue growth in excess of 30% year over year for the past 3 years. Not only does this acquisition expand the Company's footprint across Canada, but it also provides an opportunity to plug in its services to Cloud Practice's current client base.
Amid their corporate update, Premier Health Group (OTC:PHGRF) (CSE:PHGI) spoke on plans for further expanding their operations. As for the Company's next move, they will be entering the Cannabis clinic space. The role of Cannabis in treating medical conditions is continuously expanding to help patients with acute & chronic symptoms. Currently, there is a critical gap between the patient's need for medical cannabis, and the physician's comfort and knowledge to prescribe it.
For More Information On Premier Health Group, Click Here
Trulieve Cannabis Corp (TCNNF) today announced that the Company has entered into a strategic partnership with SLANG Worldwide, a branded cannabis consumer packaged goods company, which will grant patients in Florida access to SLANG's products from Trulieve's dispensaries across the state.
Kim Rivers, Chief Executive Officer of Trulieve, said, "SLANG operates with the same goals as Trulieve, working to expand patient access and create products that are high-quality, consistent, and reliable. SLANG's expansive portfolio ranges from vaporizer cartridges to edibles to concentrates, all products that will provide Florida's patients with the effective, natural relief they're seeking in ways that are innovative and fresh."
For More Information on Trulieve Cannabis Corp, Click Here
HEXO Corp (HEXO) announced at the tail end of last week that the Company had entered into a syndicated credit facility with Canadian Imperial Bank of Commerce, as Sole Bookrunner, Co-Lead Arranger and Administrative Agent and Bank of Montreal as Co-Lead Arranger and Syndication Agent.
Under the terms of the credit facility, the Lenders will provide HEXO up to C$65 million of secured debt financing at a rate of interest that is expected to average in the mid-to-high 5% per annum range over its three-year term. According to the announcement, the proceeds of the term loan will be used to partially fund the expansion of HEXO's Gatineau, Québec facility and leasehold improvements to its newly leased facility in Belleville, Ontario.
For More Information On HEXO Corp, Click Here
Cresco Labs Inc (CRLBF), one of the largest vertically integrated multi-state cannabis operators in the U.S., announced earlier this month that its Mindy's Kitchen brand has been ranked the top-selling edible in Nevada according to Headset, the first real-time data analytics and business platform for the cannabis industry.
Charles Bachtell, CEO, and co-founder of Cresco Labs, said, "we launched Mindy's Edibles in Nevada in mid-August and, in less than six months, our products are now carried in 62 out of 67 dispensaries in the state. Our proven ability to create brands that resonate with each consumer segment and establish a dominant retail market position is a key differentiator for Cresco Labs."
For More Information On Cresco Labs Inc, Click Here
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