Source: CannabisFN Press Release, April 14 2014
Whitefish, MT / April 14, 2014 / The Marijuana Index™ moved slightly lower last week amid a sell-off in the broader indices and concerns about compliance among pot stocks. Just as Advanced Cannabis Solutions Inc. (OTCBB: CANN) resumed trading, GrowLife Inc. (OTCBB: PHOT) was halted amid concerns about its disclosures and stock sales. The series of regulatory halts has led to significant anxiety among cannabis investors. Despite the concerns, several cannabis companies reported bullish news last week, including two potential new MMPR plays. Abattis Bioceuticals Corp. (OTCBB: ATTBF) (CSE: ATT) and Medican Enterprises Inc. (OTCBB: MDCN) made acquisitions that could provide exposure to Licensed Producers under Canada’s MMPR – a market that Health Canada expects will reach $1.3 billion by 2024. Cannabis advocates also received a boost last week after a University of Texas Dallas study showed that marijuana legalization had no impact on crime rates. In fact, violent crimes like homicide and assault may have actually decreased as a result of legalization efforts. The news coincides with new data showing that Mexican drug cartels are suffering from the lower prices brought about by U.S. legalization efforts. What’s New?
–Abattis Gains Potential Exposure to MMPR – Abattis Bioceuticals Corp. (OTCBB: ATTBF) announced a share exchange that resulted in a 25% stake in Experion Biotechnology Inc., which is in the late stages of applying to become a Licensed Producer under Canada’s MMPR.
– Billionaire George Soros Spends Millions on Legalization – George Soros, who famously brought down the Bank of England in 1992, has spent millions on promoting the legalization of cannabis through organizations like the Drug Policy Alliance and the American Civil Liberties Union.
– Medican Signs Deal to Acquire Firm with MMPR Potential – Medican Enterprises Inc. (OTCBB: MDCN) acquired 50% of International Herbs Medical Marijuana Ltd., owner of Zenabis and late-stage applicant to become a Licensed Producer under Canada’s MMPR.
– Growing Marijuana No Longer Profitable for Cartels – Mexican farmers have stopped growing marijuana for the first time in generations after the price per pound plummeted 75% from $100 per kilogram to less than $25 per kilogram thanks to legalization in the United States.
– Endexx Partners with Leading Chef to Develop Consumables – Endexx Corporation (OTCBB: EDXC) announced a collaboration with Todd Zarlengo, a leading Italian dessert chef and entrepreneur, to handle the manufacturing, packaging, and labeling protocols for its CBD consumables business. What to Watch This Week The cannabis sector moved lower last week amid weakness in the broader market and ongoing regulatory concerns. Investors should be wary of companies making outlandish claims, since they could become targets for regulatory halts. Despite these concerns, the industry is well positioned to benefit from Canada’s transition to MMPR that began this month, as well as ongoing initiatives in the United States. About CannabisFN CannabisFN.com is a dedicated financial network covering new, emerging and established companies operating in the burgeoning multi-billion dollar medical marijuana (“MMJ”) and cannabis industries. CannabisFN’s coverage is syndicated on the leading industry specific and mainstream financial websites and social media. To learn more and request a media kit, visit http://www.cannabisfn.com/market-defining-companies-program/. To subscribe to the CannabisFN newsletter or read additional coverage on cannabis laws and investments, visit http://www.cannabisfn.com. CannabisFN.com, owned by TDM Financial, is a leading provider of cannabis news and insights. CannabisFN.com may be compensated for its services in the form of cash-based compensation or equity securities in the companies it writes about, or a combination of the two. For a full disclaimer, click here SECFilings.com/disclaimer.aspx.
Source: Accesswire IA (April 14, 2014 – 9:03 AM EDT)