CannLabs, Inc. (OTCQB: CANL), a solutions provider with intellectual property, proprietary cloud-based analytics, and scientific methods to serve the cannabis industry, recently announced a series of moves that help to solidify its position within the rapidly growing U.S. cannabis industry, which some analysts believe will reach $2.57 billion in size in 2014.*
In this article, we’ll take a look at some of the recent strides that the company has made towards building long-term shareholder value.
On July 15, 2014 CannLabs announced the addition of industry leaders and management experts to its executive team to support the company’s growth plans. This included naming Mr. Mark C. Mirken as Chief Executive Officer; CannLabs founder, Genifer Murray named President; Steve Kilts assumed an expanded position as Chief Operating Officer and Chief Strategist; and Mark Rogers, who was elected as Chairman of the Board of Directors.
“We are excited that Mark has accepted the chief executive role with CannLabs,” said CannLabs Founder and President Genifer Murray. “As we embark upon our expansion, and research and development, the time was right to bring in a seasoned executive with public company experience. I look forward to working with Mark, Steve, and Mark to build a world-class team and further enhance our leadership.”
Read the full press release discussing these appointments:
Core Services Continue to Grow
As the Colorado Marijuana Enforcement Division (“MED”) continues to rollout testing requirements for infused edibles and other products, CannLabs has been preparing to manage the process with minimal interruption to clients. On July 14th, the company announced that its team is ready to help marijuana ensure that they meet these requirements, including the new homogeneity testing.
“We are prepared and ready to support our clients with this new process,” said CannLabs Laboratory Director Heather Despres. “We’ve increased our team and our proprietary customized work-flow software will allow us to manage the added data content easily without any delays to our most important asset – our customers. We’re here to ensure that all state guidelines are met and customers are safe.”
Read the entire press release discussing the new requirements:
CannLabs Commences Trading Under New Ticker Symbol
CannLabs announced that its ticker symbol would be changing from “SDSPD” to “CANL” on July 11th in order to complete its move to a publicly traded company. While these changes have taken some time to be updated across many financial portals and brokerage firms, the move represents another step towards creating long-term brand awareness and shareholder value for investors.
“We are happy to start trading under the new symbol which is directly reflective of our name and business,” said CannLabs Founder and President Genifer Murray. “Shareholders, clients, and the broader investment community will be able to recognize the ticker and [it] is another step in creating brand awareness and shareholder value.”
Read the entire press release announcing the ticker change:
CannLabs is uniquely positioned within the cannabis testing space to offer many more ancillary services to the industry including consulting and research. This is strengthened further given management’s extensive experience and existing operations. Investors in established companies like GW Pharmaceuticals Inc. (NASDAQ: GWPH) or relatively new companies like Cannabis Sativa Inc. (OTCBB: CBDS) may want to take a closer look at the company given its near-term catalysts and unique market exposure.
For more information, see the following resources:
* ArcView Group (http://arcviewgroup.com/)
Disclaimer: Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and may increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, 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 full disclosure please visit: http://www.cannabisfn.com/legal-disclaimer/.