The marijuana industry continues to be one of the hottest places to invest and marijuana stocks offer investors significant opportunities.
From the United States to Australia, the global cannabis industry is in the middle of a revolution and we do not expect this to slow down anytime soon.
Although marijuana is definitely considered to be more sexy than industrial hemp, both opportunities offer considerable upside. Today, we have provided an update on two companies focused on these opportunities and believe these are two stories that need to be watched!
Hemp Inc. Surges After Facility Becomes Operational
Hemp Inc. (HEMP) surged more than 75% higher on very strong volume after the company announced that after spending 3.5 years and millions of dollars, the largest multipurpose industrial hemp processing facility in the Western Hemisphere is now operational and is processing its first product.
The milestone coincides with the installation of Hemp’s NuAxon Tech CO2 Supercritical Extractor, the planting of hundreds of acres of industrial hemp and high CBD hemp in North Carolina, Kentucky, Colorado, Nevada, and Oregon, and the successful establishment and ongoing monthly hemp educational seminars via The Hemp University at Louisburg College in Louisburg, North Carolina.
Hemp CEO Bruce Perlowin said, “We will now begin marketing efforts in earnest. However, we have some very huge, potential orders that we have been in discussion with lately including one very large company that wants to purchase the entire productive capacity of our mill’s capabilities including expanding to double or triple its current capacity.”
iAnthus Records Significant Milestone
Canadian-traded iAnthus Capital Holdings (IAN.CN) (ITHUF) reported a milestone today after its proposed acquisition of Valley Agriceuticals was approved by the New York State Department of Health. iAnthus expects the acquisition to be completed in the third quarter of 2017.
This comes less than two months after iAnthus agreed to acquire Gloucester Street Capital and its wholly owned subsidiaries, Valley Agriceuticals and Valley Agriceuticals Real Estate, LLC for $17.3 million.
Today, Valley Agriceuticals was also granted a license as a registered organization under New York state’s medical marijuana program. Under the license, Valley Agriceuticals has been granted dispensary locations in Brooklyn, Dutchess County, Oneida County and Suffolk County, as well as approval for cultivation and manufacturing operations in its facility in Wallkill, NY.