CORAL GABLES, FL / ACCESSWIRE / February 28, 2019 / The marijuana stock market has seen impressive growth in the first few months of the new year. Since the passing of the US Farm Bill, companies in the cannabis industry have been working to build out their hemp operations and manufacturing. Considering that hemp-derived cannabidiol can be used for a multitude of products, the Farm Bill has opened up an entirely new playing field for the cannabis industry. Market analysts have stated that this could be the year of cannabis as the market continues to make solid strides in the right direction. If public opinion remains favorable, and cannabis companies continue to create products with a patient-centric focus, this could catalyze potential opportunities in the coming months. Premier Health Group (OTC:PHGRF) (CSE:PHGI), Tilray Inc (TLRY), Cronos Group Inc (CRON), and Aphria Inc (APHA) represent 4 marijuana stocks that are heating up on Thursday.
Premier Health Group (OTC:PHGRF) (CSE:PHGI) is a company keenly focused on developing innovative approaches that combine human skill-based expertise with state-of-the-art technologies to offer the best quality treatments for its patients.
Premier Health Group (OTC:PHGRF) (CSE:PHGI) today announced the launch of a technology-enabled mental health initiative. The initiative will focus on providing app-enabled mental health counseling for patients in urban centers and remote and underserved populations. Dr. Tahmeena Ali and Dr. Robert McKenzie are two Vancouver-based family physicians with extensive experience in mental health care and will be championing the initiative.
Following the announcement, Dr. Essam Hamza, CEO of Premier Health Group (OTC:PHGRF) (CSE:PHGI), stated, "having the ability to offer virtual mental health counseling services is pivotal to our patient-centric app. Through my own practice, I have encountered a significant number of teens and young adults who would much rather use virtual services from the comfort of their home than come in person and wait in a busy waiting room to talk about their mental health."
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Tilray Inc (TLRY), a global leader in cannabis research, cultivation, and distribution, announced earlier this month that the Company has entered into a definitive agreement pursuant to which Tilray will acquire all of the issued and outstanding securities of FHF Holdings Ltd, from Compass Group Diversified Holdings LLC and other shareholders of Manitoba Harvest. Per the terms of the agreement, Tilray will acquire Manitoba Harvest on a cash and debt-free basis, for an aggregate purchase price, including cash and class 2 Common Stock in the capital of Tilray, of up to C$419 million pending the achievement of certain milestones after the closing of the Transaction.
Brendan Kennedy, Tilray President, and CEO said, "Tilray's acquisition of Manitoba Harvest is a milestone for the cannabis industry. It builds on the strategic partnerships we have formed with consumer brand industry leaders and demonstrates our track record of disrupting the global pharmaceutical, alcohol, CPG, and functional food and beverage categories."
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Cronos Group Inc (CRON) announced towards the end of last week that at a Special Meeting held, the Company's shareholders [overwhelmingly] approved the previously announced strategic investment agreement with Altria Group, Inc. Pursuant to the agreement, at closing, Altria will make an approximately C$2.4 billion equity investment in Cronos Group on a private placement basis in exchange for common shares in the capital of the Company.
Following the announcement, Mike Gorenstein, CEO of Cronos Group, said, "we are very pleased to have received this approval and look forward to realizing the many benefits and value creation enabled by Cronos Group's partnership with Altria. Altria's expertise and complementary capabilities will better position Cronos Group to support our efforts in cannabinoid innovation, as well as the creation of differentiated products and brands across medical and recreational channels and throughout our global network."
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Aphria Inc (APHA) found itself in headlines earlier this week when the Company announced it had entered into a worldwide license agreement with Manna Molecular Science, LLC, producers of state-of-the-art cannabis transdermal patches. Leveraging Manna's established formulations, equipment, and processes, Aphria will produce and sell patches containing cannabis oils for its established suite of medical and adult-use brands.
Jakob Ripshtein, President of Aphria, said, "as we continue to expand its use from product to ingredient, we are excited to offer innovative new ways for consumers to interact with cannabis. As a company at the forefront of cannabis innovation, Manna Molecular Science will be an important strategic partner for Aphria. Like us, they are committed to making safe, high-quality cannabis products available to a wide array of global consumers."
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