Cannabis Stocks Capitalize On Post-Election Momentum
PALM BEACH, Florida, November 15, 2016 /PRNewswire/ --
The sweeping legalization of various forms of Cannabis and Legal Marijuana operations across the United States is serving to help mature the industry, bolstering the already existing revenue streams, as well as diversifying new opportunities for investors and consumers alike. The cannabis performers this week include: Arcturus Growthstar Technologies Inc. (OTC: AGSTF), mCig, Inc. (OTC : MCIG), OrganiGram Holdings Inc. (OTC: OGRMF), United Cannabis Corporation (OTC: CNAB) and MassRoots, Inc. (OTC: MSRT).
Arcturus Growthstar Technologies Inc. (OTCQB: AGSTF) (CSE: AGS) is pleased to announce that it has signed a Letter of Intent ("LOI") to acquire a 15-acre parcel of land in Redland, Florida, in a county that is designated to legally cultivate, process and dispense cannabis. Redland is an unincorporated community within Miami-Dade County, with Biscayne National Park to the east and Everglades National Park to the west. Redland is primarily a Miami suburb and a major agricultural area. Miami-Dade County is referred to as the nation's "Salad Bowl" and "Winter Bread Basket."
Read the full Arcturus (AGSTF) (AGS.CN) press release at: http://marketnewsupdates.com/news/agstf.html
"We are pleased to have reached this LOI to acquire this prime parcel of land as it has a long history as a plant nursery, which was first established in 1963," says Mr. William Gildea, Arcturus Growthstar Technologies Inc.'s CEO and Chairman. "This acquisition will be an all-stock deal and greatly adds to our geographic footprint and overall strategy in the state of Florida. With the recent passage of Amendment 2, an initiative which significantly broadens Florida's medical marijuana program, we want to be firmly established in the state and solidify our first mover advantage in one of the biggest potential cannabis markets in the United States."
With this acquisition and the previously announced 10-acre greenhouse acquisition near Orlando, Arcturus has the potential, if fully licensed, to develop 25-acres of cannabis crops. If current state projections for the cannabis market size hold up to their $1.8B projection by 2020, Florida will have considerable demand for medical marijuana, even without factoring in the potential for recreational legislation. This is an exciting acquisition for Arcturus as the 15-acre farm is located in a designated legal grow zone with close proximity to Miami.
Other Cannabis stocks performing well in the markets this week:
mCig, Inc. (OTCQB : MCIG) closed up over 30% at $0.195 on over 19.4 Million shares traded by the market close. MCIG, a diversified company servicing the legal cannabis, hemp, and CBD markets announced Monday the second quarter, MCIG generated $620,015 in revenue, a 126% increase from the previous quarter. The company reported to be profitable during the quarter and MCIG reported $10,469 in net income, an increase of $675K in its bottom line compared to same period last year. MCIG's adjusted net income for the period was $102,550, an adjusted net profit margin of 20%.
OrganiGram Holdings Inc. (OTCQB: OGRMF) closed up over 26% on Monday at $2.93 trading over 750,000 shares by the market close. OrganiGram Holdings Inc., through its subsidiary, Organigram Inc., produces and sells medical marijuana in Canada. The company was founded in 2013 and is based in Moncton, Canada.
United Cannabis Corporation (OTCQB: CNAB) also closed up over 20% on Monday at $1.81 on over 1.68 Million shares traded by the market close. United Cannabis Corporation last week announced that its Joint Venture, which is 50% owned with Jamaica-based Cannabis Research & Development ("CRD"), has submitted its application for a license to cultivate, process, transport and conduct research on cannabis within Jamaica.
MassRoots, Inc. (OTCQB: MSRT) closed up just under 10% at $0.84 on Monday trading over 945,000 shares by the market close. MassRoots announced earlier this month that it has released product and strain reviews within its iOS and Android applications. Through community-driven reviews, MassRoots aims to connect consumers with the best products to treat their ailments.
DISCLAIMER: MarketNewsUpdates.com (MNU) is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. MNU is NOT affiliated in any manner with any company mentioned herein. MNU and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. MNU's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. MNU is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed MNU has been compensated three thousand nine hundred dollars for news coverage of the current press release issued by Arcturus Growthstar Technologies Inc. by the company. MNU HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MNU undertakes no obligation to update such statements.
Media Contact email: email@example.com - +1-561-325-8757