CORAL SPRINGS, Florida, October 5, 2016 /PRNewswire/ --
The legal marijuana industry continues to grow and expandin a variety of ways, with the most recent wave leaning on the tech industry innovation as today's leaders aim to engage consumers through mobile applications and other forms of interactive technology. The Canadian Cannabis sector this week continues
Arcturus Growthstar Technologies Inc. (CSE: AGS) (AGS.CN) is pleased to announce that it has closed on its transaction to acquire a large portfolio of revenue generating Apps and source code ("App Portfolio"). This all-stock acquisition brings on a seasoned team of app developers, which instantly expands the Company's tech portfolio and positions Arcturus for rapid rollout of a suite of marijuana centric apps. It also positions the Company to receive consistent monthly income, as the App Portfolio's trailing 12-month EBITDA was USD $139,000 or CDN $183,000.
Read the full Arcturus (OTC: AGSTF) Press Release at: http://financialnewsmedia.com/profiles/agstf.html
"This app portfolio and experienced team lays the foundation for our ability to quickly release new agriculture and legal cannabis related apps without having to go outside of our own company for development and monetization expertise. At the same time, it provides us with a current stream of cash flow while we are building our vertical farming business," says Mr. William Gildea, Arcturus Growthstar Technologies Inc.'s CEO and Chairman. "With Deere & Company (DE), a NYSE listed company and one of the largest equipment suppliers having over 20 mobile apps in the agriculture market, we felt it important to have our own app division as well." "For the month of September, the All-In-One App Portfolio revenue grew by 50%, serving up over 57,000 Facebook ad impressions and over 26,000 AdMob impressions, which puts us at an annual run rate of almost 1,000,000 ads for the next 12 months," comments Mikael Hovhannisyan, the app portfolio manager. "With our plans to increase the portfolio's number of apps by two to three times, we expect the revenue and ad impressions numbers to only keep going up."
Yesterday's performers in the Canadian marijuana sector were led by:
Maple Leaf Green World Inc. (TSX-V: MGW) closed up more than 22% at $0.59 on over 3.2 Million shares traded by the market close on Tuesday. Maple Leaf Green World recently announced that the first shipment of product from its initial harvest has commenced. Product shipments will continue for the next few weeks and Maple Leaf expects the selling price will be at the high end of the price range previously announced.
OrganiGram Holdings Inc. (TSX-V: OGI) closed up more than 7% at $2.04 on over 2.8 Million shares traded by the market close on Tuesday. OrganiGram announced recently that it has successfully amended its Health Canada licensed sales capacity of dried marijuana to 1,200kg per annum. Additionally, Health Canada also increased OrganiGram's licensed production and sales capacity for cannabis oils to 500kg per annum.
Aurora Cannabis Inc. (CSE:ACB) (ACB.CN) announced yesterday that the TSX Venture Exchange (TSX-V) has approved the Company's application to list its common shares on the TSX-V. Effective October 5, 2016 , the Company's shares will commence trading on the TSX-V under the symbol ACB.
Supreme Pharmaceuticals Inc. (CSE:SL) (SL.CN) closed up more than 7% at $0.90 on over 1.7 Million shares traded by the market close on Tuesday. Supreme is a Canadian publicly traded company committed to becoming a leading supplier of affordable medical cannabis through its wholly-owned subsidiary 7 ACRES (formerly AMMCan).
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