NICE WRITE UP: 4 Marijuana Stocks Bubbling With Excitement On Friday 12/28/18
ACCESSWIRE ACCESSWIRE•December 28, 2018
CORAL GABLES, FL / ACCESSWIRE / December 28, 2018 / The cannabis market has managed to survive the most recent downward spike that much of the stock market has taken. As marijuana has become increasingly more prevalent in newly drafted legislation, including the US Farm Bill, we've seen public opinion turn favorable in support of the nascent industry. Everything from Canadian legalization to individual states in the U.S. passing similar legislation will likely have a large beneficial effect on the future of the industry. As 2019 approaches, Premier Health Group (PHGRF) (CSE:PHGI), Acreage Holdings Inc (ACRGF), Cronos Group Inc (CRON), and New Age Beverages Corporation (NBEV) are 4 pot stocks worth looking into as we approach the new year.
Premier Health Group (PHGRF) (CSE:PHGI) opened the day's trading at $0.65 per share on Friday, up from $0.53 at the tail-end of October and up 15.25% from December 7th's close of $0.59 per share. Earlier this month, the Company announced that, as part of its plan for strategic growth associated with primary health care, it signed a binding LOI to acquire a Vancouver-based pharmacy. The Company expects the acquisition to close in or around Q1-19.
In recognition of market trends among other pharmacy-focused companies, this decision could instigate promising opportunities for Premier Health Group (PHGRF) (CSE:PHGI) as medicinal cannabis becomes increasingly more accepted across the Canadian healthcare sector. Recent reports suggest the Canadian medical cannabis market could top $2.4 billion by 2025.
"With over 110,000 active patients in our clinic ecosystem, it is important that we provide them with the best possible information that allows them to make informed decisions about their personal and family's health. Providing our family physicians with the appropriate tools and knowledge to prescribe cannabis or with the ability to refer patients to a specialist within our clinics is a key outcome of this initiative," said Dr. Essam Hamza, CEO of Premier Health Group (PHGRF) (CSE:PHGI).
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Acreage Holdings Inc. (ACRGF) announced earlier this month that it had signed into a definitive agreement with Form Factory, Inc. for the Company to acquire Form Factory, in an all-stock transaction valued at $160 million. Per the official press release, Acreage will issue approximately 6.4 million Subordinate Voting Shares to Form Factory shareholders at a deemed price of $25 per share.
"Creating a wide range of products that meet the diversified tastes of consumers and owning the national manufacturing and distribution platform to ensure their consistent and predictable delivery on a national basis is a key to long-term success and value creation in the cannabis industry," said Kevin Murphy, Founder, Chairman, and Chief Executive Officer of Acreage Holdings. He continued, "With this acquisition, we are now positioned to be both the first and only national cannabis CPG company and distribution platform in the U.S. cannabis industry. The combination of the largest U.S. operational footprint, combined with the unique food and beverage manufacturing capabilities of Form Factory sets us on a direct path to become the Procter & Gamble of cannabis."
For More Information On Acreage Holdings Inc, Click Here.
Cronos Group Inc. (CRON) made headlines earlier this month when the Company announced it had entered into a subscription agreement with Altria Group, Inc. pursuant to which Altria agreed to make an approximately $2.4 billion equity investment in Cronos Group on a private placement basis in exchange for common shares in the capital of the Company.
In a press release regarding the matter: Cronos Group's Mike Gorenstein, Chairman, President and Chief Executive Officer said: "Altria is the ideal partner for Cronos Group, providing the resources and expertise we need to meaningfully accelerate our strategic growth. The proceeds from Altria's investment will enable us to more quickly expand our global infrastructure and distribution footprint, while also increasing investments in R&D and brands that resonate with our consumers. Importantly, Altria shares our vision of driving long-term value through innovation, and we look forward to continuing to differentiate in this area. As one of the largest holding companies in the adult consumer products sector, Altria has decades of experience in regulatory, government affairs, compliance, product developmentand brand management that we expect to leverage, particularly as new markets for cannabis open around the world."
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