Today was a busy day for cannabis stocks and this is important as it follows a couple rough weeks of trading.
Some of the important develops we think investors should take note of, include:
1. MassRoots, Inc. (MSRT) announced that Google Play approved its mobile application for distribution to Android devices. In early November, MassRoots was removed from Google Play due to a compliance review.
2. Emblem Corp (EMC.V) (EMMBF) had its Speculative Buy rating and $3.75 price target reaffirmed by Canaccord Genuity. The report said:
3. CanniMed Therapeutics (CMED.TO: TSX) announced the receipt of its first two Health Canada issued export permits for medical cannabis oils. In addition, CanniMed received initial purchase orders for all three CanniMed Oils for distribution to both Australia and the Cayman Islands for pharmacy dispensing. These two Health Canada-issued export permits will include all three oil products. By June 30th, CanniMed will have shipped 3,600 ml and 12,960 ml of CanniMed Oils to Australia and the Cayman Islands respectively. The company expects to provide additional details with respect to these developing opportunities within the coming weeks.
4. Golden Leaf Holdings Ltd. (GLDFF) signed a binding Letter of Agreement to acquire Chalice, a vertically integrated Oregon based cannabis company. In conjunction with the transaction, Golden Leaf entered into an engagement agreement with Canaccord Genuity with respect to a best efforts brokered private placement. The company plans to sell approx. $35 million worth of subscription receipts and the net proceeds will be used to satisfy the cash component of the purchase price for the Chalice Farms and to fund the company.
5. Future Farm Technologies’ (FFRMF) (FFT.CN) majority owned subsidiary, FFM Consulting Services purchased an extraction machine for the manufacture of concentrated cannabis oil and purified distillate. The equipment is estimated to be delivered, installed and in full production within the next 90 days.
6. American Cannabis (AMMJ) announced that five of its active clients have successfully submitted applications for acquiring business licenses to operate within Pennsylvania’s medical cannabis program. Two clients have applied for licenses to legally dispense, one applied for a license to legally cultivate, and two clients have applied to do both.
7. NEMUS Bioscience, Inc. (NMUS) and the University of Mississippi announced that bactericidal synergy was achieved against multiple species of MRSA utilizing a proprietary cannabinoid-based therapeutic platform.
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