Watch These Four Marijuana Stocks Make Moves on Tuesday

CORAL GABLES, FL / ACCESSWIRE / March 26, 2019 / The marijuana stock market has enjoyed impressive gains over the course of the last few months. Considering the sheer amount of news emerging from the cannabis industry, it's almost counter-intuitive to invest in lesser-known companies. While that may be true in some cases, there are companies in the cannabis industry that have proven to be potentially lucrative picks because of their innovative efforts to advance marijuana into the future. Though some of these companies aren't as well-known in terms of market caps, they still represent a crucial component of the cannabis sector. ParcelPal Technology Inc (PTNYF) (PKG), HEXO Corp (TSX: HEXO, NYSE American: HEXO), CannTrust Holdings Inc (CTST), and Innovative Industrial Properties Inc (IIPR) represent 4 pot stocks picking up speed on Tuesday.

ParcelPal Technology Inc (PTNYF) (PKG) is a technology-driven logistics company determined to connect consumers to the goods they love via an easy-to-use, on-demand platform. Through the use of ParcelPal, customers can shop at partner businesses and receive their orders within an hour. The Company offers on-demand delivery of merchandise from leading retailers, restaurants, medical marijuana dispensaries and liquor stores in Vancouver and soon in major cities Canada-wide.

ParcelPal Technology Inc (PTNYF) (PKG) made headlines at the tail-end of last week when the Company announced that it had achieved a major milestone of completing more than two million deliveries. This milestone demonstrates the growth the Company has undergone since its inception as well as further validates that they are on the way to becoming the most diverse and top on-demand delivery company.

Following the announcement, Kelly Abbot, Chief Executive Officer of ParcelPal Technology Inc (PTNYF) (PKG), said, "we are extremely excited to have achieved this major milestone. Our growth in 2018 was tremendous and our team has grown significantly. We are looking forward to a successful rollout in the cannabis industry amongst other verticals in the coming months across Canada with existing and future partnerships."

For More Information On ParcelPal Technology Inc, Click Here

HEXO Corp (HEXO) earlier this month reported its financial results for the second quarter of the 2019 fiscal year, the Company's first full quarter following the legalization of adult-use cannabis in Canada. During the quarter ended January 31, 2019, the Company announced that its 1,000,000 sq. ft. greenhouse expansion reached construction and licensing milestones. The first harvest from the facility is expected later this month and will allow HEXO to continue ramping up to an annual production capacity of 108,000 kg of dried cannabis annually.

In recent news, the Company announced an agreement to acquire Newstrike Brands Ltd. This transaction was unanimously approved by the board of directors of both HEXO Corp and Newstrike Brands Limited. The acquisition will provide HEXO Corp capacity to produce approximately 150,000 kg of high-quality cannabis annually with access to four cutting-edge production campuses. It also provides the Company diversified domestic market penetration with combined distribution agreements in eight provinces.

For More Information on HEXO Corp, Click Here

CannTrust Holdings Inc (CTST) this month announced that the Company has filed a short form base shelf prospectus with the securities commissions in each of the provinces of Canada, except Québec, and a corresponding shelf registration statement on Form F-10 with the U.S. Securities and Exchange Commission under the U.S./Canada Multijurisdictional Disclosure System.

The shelf prospectus and registration statement once approved, will allow the Company to offer up to C$700 million of debt securities, warrants, subscription receipts, units or common shares, or any combination thereof, from time to time during the 25-month period that the shelf prospectus is effective. The Company filed this Shelf Prospectus in order to maintain financial strength and flexibility going forward but has not entered into any agreements or arrangements to authorize or offer any securities at this time.

For More Information On CannTrust Holdings Inc, Click Here

Innovative Industrial Properties Inc (IIPR) earlier this month announced results for the Company's fourth quarter and year ended December 31, 2018. Last year represented the second full year since IIP commenced real estate operations and completed its initial public offering in December 2016.