The cannabis industry has been full of a large amount of opportunity over the course of the past few months to a year or so, but new legislation in the space and the changing public perception of cannabis have all led to an increased amount of potential for growth in the market. A large amount of the growth in the space has been due to companies that purely play in the cannabis side of the industry and not the ancillary services for the market.
One of the growers in the cannabis space that has been seeing large gains has been the company Alberta Craft Cannabis (ACC) which is a subsidiary of (OTC:GTEC). The company is a licensed producer of cannabis, and one of only a 105 companies within Health Canada to have a license under the ACMPR. According to one report “ACC was the first cultivator in Edmonton, even before Aurora Cannabis Inc. ACC has a 14,000 square foot facility that produces 1,300 kilograms annually. GTEC’s currently retrofitting the facility to run more efficiently and a secondary site location application is currently under review. Test crops were submitted to Health Canada – and GTEC aims to have their sales license by October – just in time for full recreational use all over Canada.”
The company seems as though it is poised perfectly to take advantage of the new and growing recreational market in Canada which is set to officially begin on October 17th. The hopes are high that GTEC and ACC can continue to lead the market in innovation for growing the cannabis plant.
The next stock on the list and one that should come as no surprise is the company Canopy Growth Corp. (NYSE:CGC). Canopy Growth has maintained its reputation as one of the leading growers of cannabis across Canada and beyond. The company is slated to benefit massively from the recreational market taking place as mentioned prior, but this has also sent valuations for companies extremely high due to a large amount of anticipation. According to one report “Probably the biggest catalyst working in favor of Canopy keeping or building on its large-cap valuation is its deepening relationship with alcohol giant Constellation Brands (NYSE:STZ), which is perhaps best known for its Corona and Modelo beer brands.” The introduction of alcohol producers and distributors into the cannabis space has been one of the primary reasons for growth in recent times. STZ recently put an almost $4 billion investment into Canopy which very quickly gave the cannabis market credibility if it didn’t have much, to begin with. This was the third investment in about a year from the company, and it only looks as though it will continue to benefit the market as a whole.
Cannabis has been one of the fastest growing industries for some time now, but there is no doubt that the market is still very much in its infancy. The cannabis industry is growing at a rapid pace and beginning to move out of this and stabilize, but with anything, it will take time. The hopes are high that companies like the ones mentioned above can continue to provide the cannabis market with a large amount of promise for the future.
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