As Summer Comes To An End Marijuana Stocks Continue To Show Growth The past few months have been quite topsy turvy in the world of cannabis as companies are beginning to work with the new legislation being put in place around the world. The North American market does seem to be leading the fight as far as cannabis is concerned, but many companies are working to move their businesses into the abroad spaces for the future. Several companies have come to the forefront of the new and growing industry amidst stringent regulations and the changing public perception.
One of the companies that has been peaking the interest of investors has been the company Friday Night Inc. (OTC:TGIFF). The company has been working to expand throughout the Nevada cannabis market as it is poised to be one of the fastest growing in the industry. The company was recently approved for several licenses in the space, and they will continue to move forward with building their business domestically. The company is a manufacturer and distributor of various products for the cannabis market and not just the pure-play marijuana industry, but other products as well. The company has been working to produce products such as oils, distillates and other products that are infused with cannabis in various ways. As this side of the market continues to grow it will be interesting to see what effect this has on the market overall.
Next on the list is the company iAnthus Capital Holdings (OTC:ITHUF). iAnthus has been working as one of only ten companies in the state of New York to receive a cultivation license. This has meant that their constriction of a new 40,000 sq. Ft facility, should help them to continue their massive growth plans toward the future. The goal of iAnthus is to be able to grow cannabis throughout the year and not just in specific seasons. The goal is to grow as much as 2400 kilograms per year, which puts them in the space of being able to grow as a company much further in the near future. The goal of the facility in the end is to be able to have a 125,000 square foot growing space in Orange County, New York which will help them to grow more and more cannabis over the course of the next few years.
The company Beleave Inc (OTC:BLEVF) is another one of the players in the cannabis market that many have been watching for some time now. The company recently announced that they will be acquiring the company Seven Oaks in the way of 100% of the outstanding shares. This deal is valued at around $3,000,000 which means that it is in no way a smaller deal, but it still remains on the lower side. According to the CEO of Beleave, Andrew Wnek, “Seven Oaks has a proven track record of working collaboratively to secure wholesale and distribution agreements with retailers across Canada. Beleave breaking into the recreational market with solid agreements and impactful branding will be a monumental development for us. Seven Oaks’ upcoming distribution will not only improve access to our products for many Canadians, it is also continuing our commitment to driving profitability and value for our shareholders.” Having this new distribution method will in turn help Beleave to continue their growth throughout the near future.
Cannabis as a whole has continued to show a large amount of promise over the past few years and beyond, but new markets growing in the space have helped to illustrate how this growth can continue over the next period of time.
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