Investor Ideas ‘Potcast’; #Cannabis News and Stocks on the Move; (TSX: $WEED.TO), (TSX: $TRST.TO), (NASDAQ: $CRON), (CSE: $MYM.C)
Pt. Roberts, WA; Delta, BC - May 15, 2018 (Investorideas.com Newswire) www.Investorideas.com, a global news source covering leading sectors including marijuana and hemp stocks and its 'potcast' site, www.potcasts.ca release today's edition of its new series, Investorideas.com potcasts - cannabis news and stocks to watch plus insight from thought leaders and experts.
Listen to the podcast: http://www.investorideas.com/Audio/Podcasts/2018/051518-Cannabis.mp3
Investorideas.com potcast - cannabis news and stocks to watch TSX: WEED, NADAQ: CRON, CSE: MYM, TSX:TRST
Today's podcast overview:
Good afternoon and welcome to Investorideas.com potcasts- following cannabis news, stocks to watch as well as insight from thought leaders and experts. Today we are going over some of the day's cannabis highlights regarding Cronos Group Inc. trading on the NASDAQ and TSX-Venture under the symbol CRON, CannTrust Holdings Inc. trading on the TSX under the symbol TRST, Canopy Growth Corporation trading on the TSX as WEED-, and MYM Nutraceuticals Inc., trading on the CSE under the symbol MYM.
First looking at CannTrust Holdings Inc. TSX: TRST, a licensed producer of medical cannabis today announced financial and operating results for the three months ending March 31, 2018. Revenue for the three month period was up at $7,8 million compared to $3,033,245 in the 2017 period. Net Income for the was up as well with $11,442,110 compared to a net loss of ($700 thousand last year and Earnings per share was up $0.12 compared to a loss per share of ($0.01). The company has seen a massive increase in active patients, increased production yields due mostly to the expansion of their facilities. CannTurst has also issued a letter of intent with Grey Wolf Animal Health Inc. and has entered into an agreement with NexgenRx, Canada's only independent full service claims adjudicator.
Next Canopy Growth Corporation trading on the TSX as WEED- and Canopy Health Innovations Inc. or CHI announce that, together with CHI's subsidiary, Canopy Animal Health Inc. that they have entered into an agreement in which Canopy Growth will acquire all of its unowned interest in CHI and, Canopy Animal Health.
Incorporating CHI as a wholly-owned subsidiary is expected to increase efficiencies and help utilize CHI's significant IP portfolio which includes 39 patent applications filed with the United States Patent Trade Office. The CHI management team will remain in place to alongside Canopy Growth's team. The transaction is anticipated to close on or before July 31st this year.
MYM Nutraceuticals Inc., trading on the CSE under the symbol MYM also had news with its announcement of acquiring an additional 18% of CannaCanada and the Weedon, Quebec project which brings the Company's total ownership of the late stage ACMPR applicant, up to 93%.
The Company continues to position itself to benefit from the anticipated increase in licenses awarded to Quebec ACMPR applicants as the province has more than 20% of Canada's population, yet only 5% of ACMPR approved licenses.
Construction of the Weedon, Quebec facility is now underway with the first set of greenhouses due to be completed and ready for Health Canada's final review in the third quarter of this year.
And finally looking at Cronos Group Inc. trading on the NASDAQ and TSX-Venture under the symbol CRON today announced financial results for the first quarter which ended March 31, 2018. Some of the highlights include the company's sales at $2.9 million for the first quarter of 2018 compared to the $0.5 million for the first quarter of 2017, with an overall increase of $2.4 million, or 473%. Also since having their new extraction laboratory approved by Health Canada cannabis oil production is up and represents 29% of domestic medical patient revenue and is expected to grow.
The company also became the first licensed producer to list on a major stock exchange in the United States in February of this year, listing on the Nasdaq as Cron.
Cronos also announced joint ventures with Cronos Australia and Medmen Enterprises, owning a 50% equity interest in both companies.
Cronos also strengthened its liquidity by raising 46 million of gross proceed this January and another 100 million in April of this year.
That's our cannabis stock news for today.
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