Morning briefing: PotNetwork Holdings to the CSE, Boehner calls for legalization, Amazon feels generous
PotNetwork Holdings, Inc. (OTCPINK:POTN) announced on Friday that the company would soon list on the Canadian Securities Exchange following their transition to becoming a fully reporting Company with the SEC. That move will be complete once their Form 10 filing goes into effect. The company also plans to uplist to the OTCQB market tier on OTC Markets.
“Public attitudes around the world towards CBD are shifting as a result of people and regulators understanding the benefits of CBD,” said company CEO Kevin Hagen in a statement. “Cannabis-based products, in general, are experiencing explosive growth and we have begun an aggressive expansion of our business to further drive the growth of the Company into 2019. Integral to that expansion, is our decision that the time is right to list our stock on the Canadian market.
He added: “The CSE already lists many companies in our industry, making this move an extremely logical choice that we believe will significantly benefit both the Company and its shareholders, across two countries instead of one.”
Last month PotNetwork Holdings announced the appointment of Hagen as their new CEO, replacing Dr. Richard Goulding, who assumed the new role of Chief Medical Officer for the company. Before his appointment Hagen was the President of the company’s subsidiary, Diamond CBD, Inc., having overseen record sales for the company during his tenure.
[*Full disclosure: PotNetwork Holdings, Inc. is the parent company of PotNetwork News]
Boehner wants federal government to legalize cannabis
On Friday former House Speaker John Boehner called on the federal government to legalize cannabis in an editorial for the Wall Street Journal, proving, once again, the power that corporate lobbying has in helping politicians overcome their prejudices. Welcome though it is, Boehner’s about-face can’t be seen as anything but hypocritical considering that nearly 420,000 people were arrested for selling marijuana during his time as Speaker.
“As a congressman, I learned that government works best when it listens to its constituents,” wrote the former Republican Congressman from Ohio, without the slightest hint of self-awareness. “Representatives must use what the people tell them to question constantly which policies are serving the greater good. It’s past time for government to rethink how it approaches cannabis.”
While advocates should no doubt welcome John Boehner’s evolved position on cannabis, no one should pretend that it comes from a place of sincerity. He held the bully pulpit for four years as Speaker of the House, during which time both the safety and efficacy of marijuana were well known. His silence when it mattered, spoke volumes.
Amazon supports NORML
According to a report in Herb last week, online retailer Amazon, through its AmazonSmile program, is helping to push the cause of cannabis legalization. The program, which typically donates 0.5 percent of all sales to registered charities recently upped that amount to 5 percent during a philanthropic push last week, with the National Organization for the Reform of Marijuana Laws being one of the charities set to receive funds.
“Hundreds of thousands of charities have been able to expand their meaningful work thanks to the donations they’ve received through AmazonSmile, and we want to say thank you to customers who are supporting important causes every time they shop,” said Amazon Worldwide CEO Jeff Wilkes in a statement. “We appreciate all the positive feedback from customers who say they love having a simple way to help support their favorite charity.”
Brinks security to cash in on cannabis
CNBC’s Jim Cramer’s spoke with Brink’s CEO Douglas Pertz about the company’s potential to protect and profit from the cannabis industry. As a billion dollar industry that works mostly in cash, security is quickly becoming one of the top priorities for cannabis businesses. Check out the interview below:
Winners and losers (Friday)
Isodiol International Inc. (ISOL:CNX) closed at $2.10, up $0.43 or 25.75 percent… The Green Organic Dutchman Holdings (TGOD:CA) closed at $3.49, up $0.61 or 21.18 percent… Golden Leaf Holdings Ltd (GLH:CNX) closed at $0.225, up $0.035 or 18.42 percent… Newstrike Brands Ltd. (HIP:CA) closed at $0.50, down $0.02 or 3.85 percent… Wayland Group (WAYL:CNX) closed at 1.46, down $0.03 or 2.01 percent… GW Pharmaceuticals Plc (GWPH) closed at $145.71, down $1.54 or 1.05 percent.