Highlighting their move into California is Friday Night Inc. (CSE:TGIF) (CNSX:TGIF) who was the subject of an article by the CannabisFN Media Group (CFN) as per an announcement on Wednesday. In mid-December, the company presented their plans to sell their Canna Hemp products in dispensaries and retail outlets throughout the newly legalized state. With multiple purchase orders already in hand, Friday Night is quickly realizing their plans for expansion in California.
According to a statement released by CFN, Friday Night’s plan to distribute through existing dispensaries will ease their transition into the market, as the hemp-based CBD space is highly fragmented, creating what the company calls a “bottleneck.” Furthermore, Friday Night hopes to stand out among a crowded market, and the company believes that gaining exposure in California dispensaries will help them to differentiate their product from the competition. A full write-up of CFN’s look into Friday Night’s California move is located at http://www.cannabisfn.com/friday-night-expands-distribution-california/.
“One of the most surprising things we found during this research was how many companies are currently operating in the space, and how few of them are generating significant revenue,” said Brightfield Director of Research Bethany Gomez as part of CFN’s statement. “Essentially, everyone is trying to do hemp, but only a handful are doing it well. It’s seen as easy because it can be sold online but, with restrictions on traditional marketing, it is very difficult to connect with your core customer.”
Friday Night is currently sitting at $1.24 per share, with a market cap of $212.8 million. Over a 52 week period, the company was at a low of $1.19 and a high of $1.29.
Agritek Goes West
I didn’t like it and didn’t inhale and never tried it again… Also jumping into the California market is Agritek Holdings, Inc. (OTCQB:AGTK), who announced on Wednesday their sublingual THC and CBD single dose oral tab “Microdose Strips” would be available for sale next week in select West Hollywood dispensaries and Orange County delivery services. The strips, designed for medical marijuana patients, are intended as a smoke-free alternative for patients with various ailments who use cannabis products. First introduced at The Hemp Con Halloweed Fest near San Francisco, the strips come in varying dosages and dissolves “directly into the bloodstream,” according to a statement put out by the company.
Agritek has kept busy over the past few months, beginning in November with their announcement for expansion plans in Pueblo, Colorado. The company added 900 acres for CBD research cultivation farming. In December Agritek put together a deal to eliminate $700,000 worth of toxic convertible debt, while at the same time providing a capital infusion for investors. The new product plans to sell for between $8.00 and $12.00, with Agritek receiving fees for packaging and naming rights.
“Agritek holdings will continue to focus on properties and licensed manufacturers to partner with to own and purchase a majority equity interest in unique cannabis brands,” said Agritek CEO B. Michael Friedman in a statement. “We are strengthening our position in California with offices, licensed distributors and sales channels for our brands California Premiums, Microdose Strips, Hemp Pops and others soon to be announced as we expand our reach to legally operating dispensaries and delivery services. Our focus [is] on products other than traditional flower including those that can cross over to big pharma and nutraceutical industries.”
Agritek is currently trading at $0.0368 with a market cap of 23.4 million.
Future Farm’s Future Updates
Pot smokers may be the largest untapped voting bloc in the country… Updating their shareholders is Future Farm Technologies Inc. (CSE:FFT) (OTCQB:FFRMF) who announced on Wednesday an overview of their activities from the past few months. According to a statement, the company’s attempts to create profits has resulted in a diversified portfolio of cannabis investments. Moreover, Future Farms efforts to raise capital are successfully aiding the growth of projects across the globe.
The company spent the tail end of 2017 making big moves all across North America. Before the Christmas holiday, the company announced the delivery of their Scorpion grow lights to a Washington state cannabis grower who was part of the Puget Sound Energy Rebate Program. Later in the month, they released a statement saying they increased their farmland in Maine by 100 acres. Of note to shareholders was the announcement of their activities in California.
“We are pleased with our progress in California and are excited to be a part of the state’s new recreational cannabis market,” remarked Bill Gildea, Future Farm’s CEO in a statement released Wednesday. “We look forward to the opportunities that California’s recreational market will open up to us in 2018 and beyond.”
Future Farm’s share prices are currently up over 8 percent, trading at $1.68 per unit. The company has a market cap of $167.9 million.
I have a reputation for giving unpopular answers at Democratic debates. I never used marijuana. Sorry… Introducing a new drug is Vitality Biopharma, Inc. (VBIO), a pharmaceutical company that develops cannabinoid prodrugs. The new drug, VITA-100, is a non-psychoactive version of tetrahydrocannabinol, or THC, the chemical compound typically responsible for the euphoric high that comes from ingesting or smoking cannabis. Vitality plans to complete clinical studies on the drug during the first six months of the year, with a focus on varying types of bowel disease.
“Many parents, pediatric gastroenterologists, and affected adults are eagerly seeking a treatment option that provides therapeutic effects without the resulting psychoactivity,” said company CEO and Co-Founder Robert Brooke.
That is not a drug. It’s a leaf… Introducing a new program is the developer of the hydroponic plant grow system GroBox, Cloudponics. The reseller program which is available in the Northeastern United States will allow stores to sell Cloudponics products such as the aforementioned GroBox, and the GroPro. Cloudponics hopes to set up a network of resellers consisting of at least 250 stores across the region.
“Our goal is to allow users to enjoy the beauty of growing their plants and giving them the power of controlling their own supply,” commented CPO and CoFounder of Cloudponics Nico Ruiz.
News and Notes
I did everything but drink the bong water when I was young… Courting shareholders is Bang Holdings Corp. (OTCQB:BXNG) a cannabis industry marketing company that announced plans for 2018 in a letter to shareholders on Wednesday. Of note in 2017 was the company’s success in doubling the size of their subscription base to more than 2 million “cannabis consumers.” According to a statement, Bang is testing out artificial intelligence technology to help consumers find a “safe and trusted resource” for the different kinds of cannabis available on the market.
You bet I did. And I enjoyed it… Presenting a new executive team is cannabis therapy company Canada House Wellness Group Inc. (CSE:CHV). The company announced on Wednesday the addition of six new members including CEO and Chairman of the Board Larry Bortles.
Look, when I was a kid, I inhaled. Frequently… Fulfilling their purchase orders is Wildflower Marijuana Inc. (CSE:SUN), who announced on Wednesday the completion of the $600,000 request with a California distributor.