Marijuana stocks soared towards the end of last week as news of former House Speaker John Boehner’s foray into the cannabis industry gripped the sector, sending pot stock investors into a fervor of excitement that was reflected in markets on both sides of the North American border. Some called it, arguably, the best week for U.S. cannabis stocks to date, as Boehner’s move was the clearest sign yet, to both weed stocks investors and the general public, that the political winds are shifting. Overzealous marijuana stock investors may even begin to wonder how much longer the forces of prohibition can hold out.
Still, the industry has a ways to go, and as pot stock investors have seen before, promising news is quote often followed up with that which is equally as negative. But last week was a time for cannabis stocks to celebrate. Considering the state of the industry today, these are the top five marijuana stocks you need to know about this week:
Keeping the faith is Beleave Inc. (CSE:BE) (OTCQX:BLEVF) who became the latest marijuana stock to receive its sales license from Health Canada as per the Access to Cannabis for Medical Purposes Regulations (ACMPR). A biotech company, this cannabis stock is a Licensed Producer through their wholly-owned subsidiary Beleave Kannabis Corp., with a facility in Ontario.
"We are thrilled to have obtained our sales license from Health Canada," commented Beleave CEO, Andrew Wnek in a statement. "We have remained diligent and focused throughout the process. We are excited to be able to continue to move the company forward as a result of this news." Furthering this pot stocks promise this week was the announcement that the company has granted 200,000 stock options for the purchase of common shares to particular board members.
Maricann Group Inc.
Crossing the Atlantic is Maricann Group Inc. (CSE:MARI) (OTCMKTS:MRRCF) a red hot weed stock who announced the acquisition of all outstanding shares of Haxxon AG, a part of their ongoing European expansion strategy. According to a statement, the deal will allow Maricann to break into the Swiss market via the production of feminized high CBD cannabis plants.
“Maricann will enhance Haxxon’s existing operations by investing 4,800,000 CHF to improve existing cultivation facilities, improving yield, then add extraction and post-processing capabilities to create finished products for inhalation as a tobacco substitute,” remarked company CEO, Ben Ward. “These products will comply with both Swiss and European law with THC below 1% for the local market, and THC below 0.2 percent for the broader European market.” The full transaction will close around mid-May, making this marijuana stock one to watch this week.
The Hydropothecary Corporation
Increasing in value is The Hydropothecary Corporation (TSXV:THCX) a soaring marijuana stock whose commercial agreement with the Société des alcools du Québec has them supplying about 200,000 kg of cannabis over a five year period. Not only did GMP securities reiterate their buy rating for the company last week, but they also raised the target price to $8.50, making this one pot stock to watch.
“Becoming the preferred supplier to the Quebec market out of the gate post-legalization is a source of great pride and a vote of confidence in our ability to scale operations to meet our supply commitment,” Sébastien St-Louis, co-founder, and CEO of Hydropothecary said in a statement. “This agreement marks an important step in the execution of our growth strategy, which is focused initially on the Quebec market by expanding our Gatineau facilities and hiring new employees, and then establishing our presence in other Canadian markets.” GMP writes that the deal makes Hydropothecary a cannabis stock of note as legalization comes to fruition in Canada.
Aurora Cannabis Inc.
Exploring the Riviera is Aurora Cannabis Inc. (TSX:ACB) (OTCQB:ACBFF) Canada’s second most prominent Licensed Producer and favorite weed stock, who announced last week the successful delivery of medical cannabis to the Italian government. The product, which is now available in Italian pharmacies, was brokered through their wholly-owned German subsidiary Pedanios GmbH.
"The Italian government has entrusted Aurora as the only direct, foreign non-government supplier to the Department of Defense in response to its first ever public tender to help support the growing demand on its strictly-regulated medical cannabis program," said Terry Booth, CEO. "We take this responsibility very seriously, and will be supporting the growing number of patients in the Italian system with high-quality products, as well as educational support initiatives for both the general public and physicians. Aurora originally announced back in January their winning bid to supply 100kg of medical cannabis to the Italian government.
Liberty Health Sciences Inc.
Soaking in the sunshine is Liberty Health Sciences Inc. (CSE:LHS) (OTCQX:LHSIF) who announced late last week the opening of their second medical cannabis dispensary in Florida. Pending approval, this pot stock plans to open the dispensary in St. Petersburg, giving them a strategic location that boasts over 250,000 residents.
"The opening of our second Florida dispensary demonstrates our ongoing commitment to expand our footprint in the state, making it more convenient for Floridians to access high-quality medical cannabis," said CEO George Scorsis in a statement. "We look forward to serving more communities in the future with our patient-focused approach as we continue to expand our operations." In addition, this marijuana stock announced three additional leases for Cannabis Education Center locations in Port St. Lucie, Tampa, and Fort Lauderdale.