OGRMF - Four Marijuana Stocks That Could Make Moves on Friday
CORAL GABLES, FL / ACCESSWIRE / March 1, 2019 / The marijuana stock market has been notoriously up and down for some time now. In the first few months of the new year, we have seen large increases in the stock prices of some of the larger cannabis companies in the industry. During that time, many companies have been able to retune to their pre-September 2018 numbers, given that the culmination of last year was solidly detrimental to values for the market. The recent bullish sentiment in the cannabis industry is the result of two factors: an increase in public support of cannabis legalization, and lawmakers and legislators putting forth legislation to allow the cannabis industry to continue to progress into the future. Assuming these two factors remain consistent, the marijuana sector could see an influx of investor attention. Transcanna Holdings Inc (TCAN.CN), OrganiGram Holdings Inc (TSX-V: OGI) (OTCQX: OGRMF), Emerald Health Therapeutics Inc (TSX-V: EMH), and Namaste Technologies Inc (TSX-V: N) are four cannabis companies worth looking into.
Transcanna Holdings Inc (TCAN.CN) is a company which specializes in assisting cannabis farmers with branding, transportation, and distribution services through its wholly-owned California subsidiaries, to a range of industries including the cannabis marketplace. The Company functions as an incredible resource for cannabis farmers and manufacturers who are looking to turn their harvests into commodified products.
Transcanna Holdings Inc (TCAN.CN) announced earlier this month that the Company has appointed Haywood Securities Inc. to act as lead agent on behalf of a syndicate of agents to be formed, including Gravitas Securities Inc. to sell, by way of a private placement on a best efforts basis, up to 5,000,000 units of the Company at a price of $2.00 per Unit for gross proceeds of up to $10,000,000, subject to receipt of all applicable regulatory approvals.
Per the details of the announcement, Transcanna Holdings Inc (TCAN.CN) intends to use the net proceeds of the Offering to partially fund the acquisition of the 196,000 sq ft cannabis facility as announced on February 4, 2019, and for working capital and general corporate purposes. The Company still anticipates it will seek a commercial lending facility to secure the full purchase price for the facility and once it has executed definitive documentation for such a facility, it will provide a further update on the progress of the acquisition.
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OrganiGram Holdings Inc (OGI) (OGRMF), earlier this week announced that the Company has elected to exercise its right under the indenture governing the Company's 6.0% convertible unsecured debentures due January 31, 2020, to convert all of the principal amount outstanding of the remaining Debentures on April 1, 2019, into common shares of the Company.
Per the terms of the indenture, the Company may force the conversion of the Debentures at the conversion price of $5.42 per Common Share when the volume weighted average trading price of the Common Shares on the TSX Venture Exchange for 10 consecutive trading days exceeds $7.05.
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Emerald Health Therapeutics Inc (EMH) found itself in headlines earlier this month when the Company announced the launch of Verdélite Sciences Inc., a wholly-owned, Québec-based production subsidiary licensed by Health Canada. Formerly known as Agro-Biotech, Verdélite currently produces high-grade dried cannabis for medical and adult-use purposes.
Following their announcement, Thierry Schmidt, President of Verdélite Sciences, said, ''Verdélite will be synonymous with differentiated and value-added cannabis products, and we are pleased to see the level of industry skill and enthusiasm coming from the Saint-Eustache community and the local interest and support to help contribute to our success.''
For More Information On Emerald Health Therapeutics Inc, Click Here
Namaste Technologies Inc (N) announced earlier this month that the Company had reached a mutually agreed upon settlement with Sean Dollinger resulting in Mr. Dollinger entering into an advisory relationship with Namaste providing transition support to the Company to ensure the best interests of the business and stakeholders are met.
Per the specific details of the agreement, Mr. Dollinger has withdrawn his previously announced legal application against the Company and has agreed to step down from all formal roles with the Company, including as a director, which will also enable him to spend more time with his young family and pursue other opportunities.
For More Information On Namaste Technologies Inc, Click Here
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