CORAL GABLES, FL / ACCESSWIRE / October 2, 2018 / Canadian legalization is coming this month and investors are eyeing new opportunities presented by marijuana stocks. Legal cannabis spending globally is expected to hit just $32 billion by 2022, according to Arcview Group/BDS Analytics. Furthermore, analysts with the Cowen Group forecast that legal marijuana will generate $75 billion by 2030. So with such high expectations, it's no wonder why a number of cannabis stocks are hitting fresh highs this month.
GTEC Holdings (GGTTF)(GTEC) shares continued to climb on Monday to open the new month above $1. The stock had been trending after it announced its portfolio of craft cannabis brands. GTEC's primary focus is on cultivating, testing, processing, marketing and selling premium quality craft cannabis, with full control from seed to shelf. Therefore, the company is developing a range of premium-quality products, based on superior genetics, small batches, indoor cultivation, optimized curing, and hand trimming.
"It was exciting to take on the creative challenge of branding GTEC's premium cannabis products," said David Lynn, Chief Operating Officer. "We certainly feel that our diversified brand and product portfolio will align well with the multifaceted nature of the craft cannabis market".
Shares of GTEC hit highs of $1.06 before closing Monday's trading session at $1.03
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Cronos Group (NASDAQ: CRON)(TSX: CRON.TO) along with other high volume marijuana stocks dipped during pre market trading on Monday. There were no major reports that could have acted as a possible catalyst at the time of this article however Cronos joined other like Canopy Growth (CGC)(WEED), Tilray (TLRY), New Age Beverages (NBEV) and others in the pre market decline.
Cronos Group and Aleafia Health Inc. (ALEAF)(ALEF) recently announced that the two companies entered into a joint medical cannabis study to improve the management and treatment of insomnia and daytime sleepiness.
"Aleafia is excited to participate in a study with Cronos Group, a company with a firm commitment to patient health. For far too long, the answer to a patient's sleeping disorder or chronic pain has been a prescription and a bottle of pills," said Aleafia Chief Medical Officer Dr. Michael Verbora. "There is mounting evidence of the risks of prescription sleeping aids including worsening mental health and increased risk of dementia. This study may in part point to medical cannabis as an alternative to harmful prescription drugs."
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The Green Organic Dutchman Holdings Ltd. (OTCQX: TGODF)(TSX: TGOD) shares continued to maintain a trading price above $5 per share on Monday. The company's announcement of a C$75 million bought deal in addition to today's news that The Dutchman closed the previously announced acquisition of HemPoland has helped to build attention around the organic cannabis company.
"HemPoland has proven an ability to execute through quality product development and strong brand awareness. We are incredibly pleased with this transaction, a key milestone in our long-term acquisitions strategy. The acquisition is accretive to our shareholders, delivers immediate revenue, and opens a new vertical for TGOD. We're incredibly excited to have such an innovative and strong entrepreneurial team join our TGOD family," said Brian Athaide , TGOD's CEO.
According to the company, Europe is home to three-quarters of a billion potential consumers, and HemPoland is a leading manufacturer and marketer of premium CBD oils within this market. This acquisition provides TGOD with immediate revenue, access to HemPoland's significant distribution network, state-of-the-art hemp oil extraction technology and the premium top selling Cannabigold brand.
ForMore Information On The Green Organic Dutchman, Click Here
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Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. MAPH Enterprises LLC which owns www.MarijuanaStocks.com is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release.
MAPH Enterprises LLC, which owns www.MarijuanaStocks.com, may from time to time have a position in the securities mentioned herein and may increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice. MAPH Enterprises LLC, which owns www.MarijuanaStocks.com, may be compensated for its services in the form of cash-based compensation or equity securities in the companies it writes about, or a combination of the two. Pursuant to an agreement between an affiliate of MAPH Enterprises, LLC (owners of MarijuanaStocks.com), Midam Ventures LLC and The Green Organic Dutchman, Midam is being paid $20,000 per month for a period beginning July 30, 2018, and ending July 30, 2019. We may buy or sell additional shares of (TGODF/TGOD) in the open market at any time, including before, during or after the Website and Information, to provide public dissemination of favorable Information about The Green Organic Dutchman. The principles of MAPH participated in the IPO for The Green Organic Dutchman Holdings, Ltd. (TGOD) & own a collective 353,624 shares which are restricted for 6 months from the IPO date of 5/2/2018, 30,000 free trading shares & 221,898 warrants. The principals of MAPH intend to sell their positions in (TGOD) for profit. MAPH nor any of its principals have been compensated for any material related to (TGOD). As of September 5, 2018 a member of MAPH Enterprises LLC holds freely trading 121,000 shares of The Green Organic Dutchman (TGODF) purchased in the open market. These may be sold at any point. This disclaimer will be updated at such time. Pursuant to an agreement between an affiliate of MAPH Enterprises, LLC, Midam Ventures LLC and GTEC Holdings Inc., Midam is being paid $63,333 per month from the company for a total of 12 months and has received ZERO shares of GTEC Holdings Inc. for a duration of beginning July 10, 2018 and ending July 10, 2019. We may buy or sell additional shares of (GTEC) in the open market at any time, including before, during or after the Website and Information, provide public dissemination of favorable Information. Please click herefor full disclaimer
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