Investor Ideas ‘Potcast’; #Cannabis News
and Stocks on the Move; (TSX: $WEED.TO), (TSX: $TRST.TO), (NASDAQ: $CRON),
(CSE: $MYM.C)
Pt. Roberts, WA; Delta, BC – May 15, 2018
(Investorideas.com Newswire) www.Investorideas.com, a global news source covering
leading sectors including marijuana and hemp stocks and its “potcast’ site, www.potcasts.ca release today’s edition of
its new series, Investorideas.com potcasts - cannabis news and stocks to watch plus
insight from thought leaders and experts.
Read this news in full at http://www.investorideas.com/news/2018/cannabis/05152Podcast-Stocks.asp
Today’s podcast overview:
Good afternoon and welcome to
Investorideas.com potcasts- following cannabis news, stocks to watch as
well as insight from thought leaders and experts. Today we are going over some
of the day’s cannabis highlights regarding Cronos Group Inc. trading on the NASDAQ and
TSX-Venture under the symbol CRON, CannTrust Holdings Inc. trading on the TSX
under the symbol TRST, Canopy
Growth Corporation trading on the TSX as WEED-, and MYM Nutraceuticals Inc., trading on the CSE
under the symbol MYM.
First
looking at CannTrust Holdings Inc. TSX: TRST, a licensed producer of medical
cannabis today announced financial and operating results for the three months
ending March 31, 2018. Revenue for the three month period was up at $7,8
million compared to $3,033,245 in the 2017 period. Net Income for the was up as
well with $11,442,110 compared to a net loss of ($700 thousand last year and
Earnings per share was up $0.12 compared to a loss per share of ($0.01). The
company has seen a massive increase in active patients, increased production
yields due mostly to the expansion of their facilities. CannTurst has also
issued a letter of intent with Grey Wolf Animal Health Inc. and has
entered into an agreement with NexgenRx, Canada's only independent full service claims
adjudicator.
Next Canopy
Growth Corporation trading on the TSX as WEED- and Canopy Health Innovations
Inc. or CHI announce that, together with CHI's subsidiary, Canopy Animal Health
Inc. that they have entered into an agreement in which Canopy Growth will
acquire all of its unowned interest in CHI and, Canopy Animal Health.
Incorporating
CHI as a wholly-owned subsidiary is expected to increase efficiencies and help
utilize CHI's significant IP portfolio which includes 39 patent applications
filed with the United States Patent Trade Office. The CHI management team will
remain in place to alongside Canopy Growth's team. The transaction is
anticipated to close on or before July 31st this year.
MYM
Nutraceuticals Inc., trading on the CSE under the symbol MYM also had news with
its announcement of acquiring an additional 18% of CannaCanada and the Weedon,
Quebec project which brings the Company's total ownership of the late stage
ACMPR applicant, up to 93%.
The Company
continues to position itself to benefit from the anticipated increase in
licenses awarded to Quebec ACMPR applicants as the province has more than 20%
of Canada's population, yet only 5% of ACMPR approved licenses.
Construction
of the Weedon, Quebec facility is now underway with the first set of
greenhouses due to be completed and ready for Health Canada's final review in
the third quarter of this year.
And finally looking at Cronos Group Inc. trading on the NASDAQ and
TSX-Venture under the symbol CRON today announced financial results
for the first quarter which ended March 31, 2018. Some of the highlights
include the company’s sales at $2.9 million for the first quarter of 2018
compared to the $0.5 million for the first quarter of 2017, with an overall
increase of $2.4 million, or 473%. Also since having their new extraction
laboratory approved by Health Canada cannabis oil production is up and
represents 29% of domestic medical patient revenue and is expected to grow.
The company also became the
first licensed producer to list on a major stock exchange in the United States
in February of this year, listing on the Nasdaq as Cron.
Cronos also announced joint ventures with Cronos Australia and
Medmen Enterprises, owning a 50% equity interest in both companies.
Cronos also strengthened its liquidity by raising 46 million of
gross proceed this January and another 100 million in April of this year.
That’s our cannabis stock news for today.
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