CORAL GABLES, FL/ ACCESSWIRE / January 11, 2019 / The way people receive health care, including how the medical field continues its integration of medical marijuana, is evolving. The fact of the matter is that more people are beginning to trust medicinal cannabis as a means of treatment for a myriad of ailments, including reducing of inflammation and pain relief. As public opinion surrounding cannabis becomes increasingly more favorable, marijuana stocks may begin to present an appealing opportunity for investors looking into the nascent sector. As experts and professionals in the field work to develop innovative approaches to developing products utilizing medicinal cannabis/hemp, the industry as a whole may benefit. Premier Health Group (PHGRF) (PHGI), Cronos Group Inc (CRON) (CRON), Canopy Rivers Inc (OTC PINK: CNPOF), and Aphria Inc (APHA) represent 4 pot stocks that are heating up on Friday.
Premier Health Group (PHGRF) (PHGI) saw impressive gains in the month of December, as the Company's shares hit highs of 0.80 to mark a move of more than 30% over the course of the 30-day period. As the cannabis sector has garnered notoriety and seen a significant increase in public support, Premier has focused its efforts on investing in opportunities that combine healthcare and cannabis. The Company announced, back in November, that it had engaged discussions with licensed producers under the Access to Cannabis for Medical Purposes Regulation, other licensed medical cannabis companies, and government officials in order to establish a primordial framework for both patient and physician education surrounding medical cannabis.
In recent news, Premier Health Group (PHGRF) (PHGI) announced that, further to its news release dated December 17, 2018, the Company has signed a Definitive Agreement to acquire all of the outstanding securities of Cloud Practice Inc. Per the announcement, Cloud Practice's founders, including CEO Jordan Visco, and the entire support team, will join and work alongside the Premier Health team.
"We are very excited to have completed this acquisition and to have the experienced team at Cloud Practice join the team at Premier Health. With this acquisition, we now have a medical software company with national reach. Thus, enabling us to build on our patient centric technology platform that will integrate telemedicine, online booking and other premium services with our electronic medical records (EMR) system," said Dr. Essam Hamza, CEO of Premier.
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Cronos Group Inc. (CRON) made headlines earlier in December when the Company announced it had entered into a subscription agreement with Altria Group, Inc. pursuant to which Altria agreed to make an approximately $2.4 billion equity investment in Cronos Group on a private placement basis in exchange for common shares in the capital of the Company.
In a press release regarding the matter, Cronos Group's Mike Gorenstein, Chairman, Presidentand Chief Executive Officer said, "Altria is the ideal partner for Cronos Group, providing the resources and expertise we need to meaningfully accelerate our strategic growth. The proceeds from Altria's investment will enable us to more quickly expand our global infrastructure and distribution footprint, while also increasing investments in R&D and brands that resonate with our consumers. Importantly, Altria shares our vision of driving long-term value through innovation, and we look forward to continuing to differentiate in this area."
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Canopy Rivers Inc (CNPOF) announced earlier this week that its 49%-owned joint venture PharmHouse Inc had entered into a syndicated credit facility with the Bank of Montreal, as agent and lead lender, and with Canadian Imperial Bank of Commerce and Concentra Bank as lenders. Under the terms of the Credit Facility, per the press release, the Lenders will provide PharmHouse up to $80 million of secured debt financing at a low interest rate.
Bruce Linton, Chairman and Chief Executive Officer of Canopy Rivers, said, We are proud to be entering the new year with a significant financial development for PharmHouse, a joint venture we consider well-positioned to pursue the increasingly global cannabis opportunity. 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.
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Aphria, Inc (APHA) saw its shares jump 6.53% following a press release announcing that the Company's results for its second quarter ended November 30, 2018, are now available, as well as the news that Vic Neufeld, Aphria's Chief Executive Officer will be stepping down from his role over the coming months.
In response to the announcement, Neufeld said, "Now with legalization and globalization, including a huge market opportunity with positive developments in the U.S., Aphria's next generation of leaders may take the reins. Building and leading a Company like Aphria, which exploded from an idea in late 2013 to our many successes to-date, has been an incredible journey, despite the toll it has taken on health, family and personal priorities."
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