HEMP - Cannabis Companies Grab Spotlight
The cannabis industry is alive and flourishing, and with equity markets emerging from the cave in which they slept in Monday morning, let it be known that cannabis plays are enjoying their time in the sun.
The health-care sector, in which the cannabis industry dwells, docked 0.1% mid-afternoon on Monday. In Canada, the sector was marked by gains of 1.7%.
LasVegas-based Hemp, Inc. (OTC PINK:HEMP) recently surpassed $1-million in sales of their pre-98 OG Bubba Kush buds, announced that the King of Hemp™ website has been updated and enhanced.
Hemp calls itself “a global leader in the industrial hemp industry” with facilities all over America, including an industrial hemp processing facility in North Carolina, another in Oregon,” a growing operation in Arizona, and a manufacturing facility in Vegas.
There is also an online store in Kingman, Arizona, home to Hemp, Inc. CEO Bruce Perlowin’s King of Hemp™ pre-roll line, which offers high-end products that are an effective and flavorful, smokeable alternative to cigarettes and other hemp consumption methods.
HEMP shares rocketed 15.5% to 67-100ths of a cent, on volume topping 56.3 million shares.
On the opposite side of the border, and while the results may not have been as eye-popping, Toronto-based Auxly Cannabis Group Inc. (TSX-Venture:XLY) announce that its joint venture partner, Sunens Farms Inc., has secured a standard cultivation licence from Health Canada for the first phase of its fully automated, purpose-built, 1.1-million-square-foot greenhouse facility in Leamington, Ontario.
This standard cultivation licence allows Sunens to commence bulk sales of cannabis following harvest without additional regulatory approvals. Sunens has secured a large and diverse genetic library consisting of over 200 unique strains. Cannabis harvested from the Sunens facility will support the production of Auxly’s branded derivative cannabis products manufactured at the Company’s Dosecann facility in Prince Edward Island.
The shares were in the green, but by only half a cent, or 1.5%, to 34 cents, on 1.9 million shares.