The United States Senate and House passed the 2018 Farm Bill this week thus paving the way for CBD and hemp legalization. Sen. Ron Wyden said, “For too long, the outrageous and outdated ban on growing hemp has hamstrung farmers in Oregon and across the country. Hemp products are made in America, sold in America, and consumed in America. Now, hemp will be able to be legally grown in America, to the economic benefit of consumers and farmers in Oregon and nationwide.”
Cannabis stocks have seen even more activity following this developing story and while President Trump now has the final sign off, the markets are looking ahead in anticipation of a positive outcome.
Premier Health Group (OTC:PHGRF) (CSE:PHGI) hit highs of $0.80 on Wednesday, up from just $0.53 at the end of October and just $0.59 on December 9. Premier Health Group (OTC:PHGRF) (CSE:PHGI) announced this week that as a part of its growth strategy to cover the major verticals associated with primary care, it has signed a binding Letter of Intent to acquire a Vancouver, British Columbia based pharmacy. Premier Health Group (OTC:PHGRF) (CSE:PHGI) said that it expects the acquisition to close in or about Q1-19.
In line with other pharmacy focused companies, this move could prove to be and exciting one for Premier Health Group (OTC:PHGRF) (CSE:PHGI). The Canadian medical cannabis clinic market is estimated to be worth approximately $2.35 billion by 2025.
“We are excited for this opportunity to acquire our first pharmacy, and thereafter being able to prepare and deliver prescription and non-prescription pharmaceuticals and other health products to patients. In doing so, the pharmacist will play an integral role in our team-based patient centric model,” said Dr. Essam Hamza, CEO of Premier.
The company currently has an ecosystem of over 100,000 active patients and has plans to rapidly increase that number both domestically and internationally.
Since the beginning of the month, shares of Premier Health Group (OTC:PHGRF) (CSE:PHGI)have jumped from $0.56 to highs of $0.79 on Tuesday.
Tilray (TLRY) shares have been trading lower this week despite all of the positive news circulating in the market. However, on Friday Tilray shares began trading higher. In addition, the company has also released news on new deals being entered into this quarter.
Earlier this week, Inner Spirit Holdings Ltd. (CSE:ISH) announced this week that it has closed the first tranche of its previously announced investment agreement with Tilray, Inc. and its wholly-owned subsidiary High Park Holdings Ltd.
In addition, this morning Tilray, Inc. announced an investment in Québec-based cannabis producer, ROSE LifeScience Inc. and an exclusive sale, supply, distribution and marketing agreement between High Park Farms Ltd. (“High Park”), a wholly-owned subsidiary of Tilray, and ROSE.
MariMed (MRMD) is a multi-state cannabis company that develops, owns and operates licensed cannabis facilities and develops and distributes branded cannabis and hemp product lines.
MariMed’s team has developed its facilities in DE, IL, NV, MD, MA, and RI. In addition, MariMed is working on precision-dosed branded cannabis and hemp-derived products for the treatment of specific medical conditions. On Thursday, shares of the company saw a steep decline in price but have begun to recover on Friday morning.
“The expected signing of the Farm Bill will enable Americans to enjoy legal access to a host of hemp-derived CBD-based solutions, which are already renowned for their health and wellness benefits,” said Robert Fireman, MariMed CEO. “MariMed expects to make a series of Hemp CBD product and distribution announcements in 2019. We are excited about the potential of legalized hemp to benefit millions of Americans in many ways.”
Aurora Cannabis (ACB) is quickly becoming one of the world’s largest cannabis companies. Aurora is vertically integrated and horizontally diversified across every key segment of the value chain, from facility engineering and design to cannabis breeding and genetics research, cannabis and hemp production, derivatives, high value-add product development, home cultivation, wholesale and retail distribution.
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