The Horizons’ Marijuana Life Sciences ETF (HMMJ) (HMLSF) is the largest and most representative marijuana exchange traded fund in the markets. The fund strives to duplicate, to an extent, the performance of the North American Marijuana Index (NAMI). The NAMI was designed to track the performance of a basket of North American life sciences companies with a focus of their operations in the marijuana industry.
Marijuana stocks, for the most part, have started the year off on a strong note as this marijuana ETF has risen 45% year to date. As lawmakers advocate for legislative changes in favor of marijuana legalization and the adoption of marijuana for medical purposes rises, the sector has responded favorably. Investors seeking opportunities in th budding marijuana sector may benefit from keeping tabs on several marijuana stocks.
Leafbuyer Technologies, Inc. (LBUY), a leading cannabis technology and marketing platform that connects consumers to dispensaries and product companies, announced that its quarterly cash sales growth rose 36% year over year in the quarter ending March 31, 2019. The company attributes this success to mainly to platform enhancements, order ahead and Leafbuyer loyalty as well as a multi-state sales team. The company’s go forward plan is to continue to expand into newly legal US markets, while increasing consumer retention to boost bottom line revenues.
“This growth provides momentum and a solid foundation for 2019. As we increase our national footprint and expand our industry leading platform, we’re forecasting significant sales gains through the remainder of the year,” said Kurt Rossner, CEO.
Last month. Leafbuyer announced that the number of its Greenlight platform users has reached nearly 80,000. The platform allows consumers to order cannabis products ahead, earn loyalty points, and cut the line to pick up and pay at participating dispensaries. At the time of this news release, the number of Leafbuyer dispensary clients with capabilities grew to 60 dispensaries, located throughout the states of California, Colorado, Oklahoma, and Michigan.
Amyris, Inc. (AMRS), a leader in the development and production of sustainable ingredients for the health & wellness, announced that it has been working to resolve its 9.5% convertible notes due April 2019 and intends to repay the notes with cash from a business transaction as well as the net proceeds of a planned equity investment from long-term investor Foris Ventures.
“We are pleased with the support of our long term investors in supporting our plans to pay off this debt,” said John Melo, Amyris President and CEO. “We believe this pathway toward retiring our April 2019 debt should mitigate some of the dilutive impact on equity and we will provide more details and an update when this process is complete.”
At the end of March, Amyris announced stated it will discuss at an April 15 conference its previously disclosed cannabinoid development, licensing and commercialization agreement containing $300 million of R&D and milestone payments and a long-term royalty stream. Since, the company reached its first milestone for its cannabinoid partner, LAVVAN. They brought in the first payment of $10 million, which is part of a $300 million collaboration before future royalty payments.
Aphria Inc. (APHA) , a leading global cannabis company, announced fiscal third-quarter earnings reporting a loss as the company booked a C$58 million impairment charge and an additional C$30 million in operating losses. For the quarter ended Feb. 28th, Aphria reported a loss of $0.20 per share, compared to earnings of $0.08 per share for the year earlier. However, the company reported that total revenue grew by 617% to $73.6 million compared to the $10.3 million the year prior.
“Our organization has experienced significant change in a very short period of time which was necessary to propel the Company forward. Aphria will continue to drive sustainable long-term shareholder value by leveraging its strong brand positioning, superior distribution model, product innovation, industrial scale cultivation and automation, medical-use leadership and strategic global platform” stated Irwin D. Simon, Chairman and Interim CEO.
The company also provided an update that it has entered into a series of transactions that will accelerate the expiration of an unsolicited takeover offer from Green Growth Brands to April 25. The transactions will provide up to an additional $89 million of liquidity without dilution to shareholders, according to the company.
Aurora Cannabis Inc. (ACB), a world leading cannabis company, provided an update on the status of Aurora Sun, the company’s latest and largest Sky Class facility which is currently under construction in Alberta. Aurora Sun will now be expanded by 33% from its original plans totaling to 1.62 million square feet to meet consumer demands. Aurora projects an expected production capacity at Aurora Sun in excess of 230,000 kg of high-quality cannabis annually.
“Aurora Sun represents the next evolution in our Sky Class facility design, delivering massive scale, low cost production, and consistent, high-quality cannabis,” said Terry Booth, CEO. “The increased scale of Aurora Sun reflects our expectations for the long-term growth in global demand, especially the higher margin international medical markets which will be faced with significant supply shortages for the foreseeable future. Sun is also designed with flexibility in mind to enable us to quickly meet changing market demands, particularly as breeding and cultivation technologies evolve and as customer preferences and requirements change.”
This blog is an affiliate of Midam Ventures, LLC. Pursuant to an agreement between an affiliate of MAPH Enterprises, LLC (owners of MarijuanaStocks.com), Midam Ventures LLC and Leafbuyer Technologies Inc., Midam is being paid $50,000 for a period of 30 days beginning November 1, 2018, and ending November 30, 2018. Midam has been paid an additional $50,000 and 40,000 common restricted shares of Leafbuyer Technologies, Inc. extending the contract another 30 days ending December 31, 2018. Midam has been compensated an additional $50,000 by Leafbuyer Technologies and has extended its period of coverage to January 31, 2019. Midam has been compensated an additional $50,000 by Leafbuyer Technologies and has extended its period of coverage to March 1, 2019. Midam has been compensated an additional $50,000 by Leafbuyer Technologies and has extended its period of coverage to April 1, 2019. Midam has been compensated an additional $100,000 by Leafbuyer Technologies for a period of coverage from April 12, 2019 to June 12, 2019. Midam may buy or sell additional shares of (LBUY) in the open market at any time, including before, during or after the Website and Information, to provide public dissemination of favorable Information about Leafbuyer Technologies Inc.. Click here for full Midam disclaimer.