Source: Creative Edge Nutrition – Press Release
Creative Edge Nutrition Inc.’s (OTCPINK: FITX) announced Mar. 7 that it has acquired the assets of the global holdings of Hemp Technologies Ltd. with operations in New Zealand, Canada and the United States among other countries for an undisclosed amount.
Hemp Technologies Ltd. is a vertically integrated hemp company that grows, processes and sells its hemp directly to the consumer and for industrial processing. In addition, it is instrumental in hemp home building and building materials, hemp spirits and food, and hemp pharmaceutical and dietary supplements.
“This will allow us to become growers and resellers of hemp and hemp products worldwide, CEO and President of Creative Edge Nutrition Bill Chaaban, stated. “We are very excited to have acquired Hemp Technologies Ltd. It complements our corporate mission of becoming a licensed grower and reseller of medical marijuana. We intend to utilize hemp for the extraction of CBD’s where allowed by law; in addition to all other activities being currently undertaken by Hemp Technologies Ltd,” he added.
First Right to Purchase Pharmacy License
This is just the latest stunning announcement made by the company. On Feb. 26, news of a partnership agreement between Creative Edge and RXNB Inc. for the first right of purchase of a pharmacy license in the State of Michigan was also announced.
Under the agreement, CEN Biotech Inc. is positioned to establish a gateway for distribution of naturally occurring pharmaceuticals in acknowledgement of Michigan Senate Bill 0660.
Senate Bill 0660 recognizes the sale of pharmaceutical-grade cannabis through licensed facilities; allowing under certain circumstances, the regulations of possession and use of pharmaceutical-grade cannabis by certain individuals. Effective Dec. 30, 2013, the bill has become law, passing both the state’s Senate and the House successfully.
The agreement will allow for Creative Edge Nutrition to conduct business at the patient dispensing consumer level in the State of Michigan.
Canadian Medical Marijuana Venture
On Jan. 9, Creative Edge also inched closer to approval by complying with the Canadian government’s regulations on tracking 1.3 million pounds of medical marijuana annually. The medical marijuana is to be distributed by Creative Edge’s wholly owned subsidiary CEN Biotech.
Creative Edge cleared this obstacle by using a new state-of-the-art M3Hub Seed-to-Sale tracking platform, which meets and exceeds Health Canada’s tracking compliance regulations. This news comes less than two months after Creative Edge broke ground on its new 58,000-square-foot future Medical Marijuana distribution center, which will be attached to the company’s current 26,400-square-foot facility.
Health Canada forecasts that there will be half a million medical marijuana users in Canada in 10 years, but Creative Edge’s CEO Chaaban told Forbes Magazine Dec. 30 that with the availability and the assurance of consistency of the product it could only take two years for users to reach that magnitude.
A Potential Windfall – Operative Word ‘Potential’
These forecasts point toward a potential windfall for Creative Edge and other companies like them, if the Canadian government grants the Michigan-based company the final approval to sell medical marijuana in the country.
On Mar. 10, FITX shares closed at 9 cents unchanged from its closing price the previous day.
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Advanced Cannabis Solutions Stockholders Fasten Their Seat Belts
In other news, Advanced Cannabis Solutions (OTCQB: CANN) stock volume finally started to slow down substantially Mar. 7 with just 184,874 shares changing hand, less than its three-month average of 201,208 shares.
On Mar. 5, the Colorado Springs-based company that leases growing space and related facilities to licensed marijuana business operators stock jumped to $49.00 a share only to see its value drop five days later on Mar. 10 closing to $33.38, down $1.52 from its close of $34.90 the previous day.
What’s Behind the Reversal?
The upward trend, which reached its latest critical mass Mar. 5, is had been fueled by a spate of positive news coming from the company along with its solid business plan backed by real estate, according to some industry experts. The force behind the sudden slippage has yet to be pinpointed.
On Feb. 20, Advanced Cannabis Solutions said it has signed an agreement to provide comprehensive consulting services to a significant investor group in Canada. This group is involved in the start-up and operation of a large cannabis production operation serving the Canadian medical marijuana marketplace. The contract has a minimum duration of six months and a potential value in the low six figures.
In addition, the company that is headquartered in the middle of one of the first, vibrant legal-marijuana marketplaces in the country has recently been approved for a major line of credit.
These two elements were essential for Advanced Cannabis Solutions to be able to build and equip the facilities it wants to rent to cannabis growers.
In Colorado alone, the medical marijuana market is estimated to be $350 million in size while the legalization of recreational marijuana could expand that figure to over $500 million in 2014 by some accounts. These figures are significantly larger throughout the United States. Some analysts estimate the total market at between $10 billion and $120 billion per year in size, depending on the success of various legalization efforts and the components included in the estimates.
New 30-Million Credit Line
On Jan. 21, Advanced Cannabis Solutions announced that it had established a $30-million credit line.
According to a release, Advanced Cannabis Solutions signed a definitive agreement with Full Circle Capital Corp., a closed-end investment company. The agreement provides that the investment fund will initially provide $7.5 million to the company in the form of Senior Secured Convertible Notes, subject to certain conditions. An additional $22.5 million can be borrowed by Company with the mutual agreement of the company and the investment company.
At least 95% of the loan proceeds will be used to acquire properties, which the company consistent with its business plan, will lease to licensed cannabis growers.
“The six-year loan will be secured by real estate acquired with the loan proceeds, and will require interest-only payments at a rate of 12% per year,” the release explained, outlining the agreement.
Stock Trending Downward
Yet despite all of this, Advanced Cannabis Solutions stock is trending downward at an determined pace. Some analysts shrug their shoulders and blame the extreme volatility on the uncertainty and newness of the legal-marijuana business.
We will have to wait and see. Meanwhile Advanced Cannabis Solutions investors are fastening their seat belts.
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New Dispenser Continues To Lift Medbox
Meanwhile, Hollywood, Calif.-based Medbox, Inc. (OTCPINK Markets: MDBX), a maker identity-verifying medical-marijuana dispensers, share value continued to hold its own on news of the rollout of its new patented dispenser.
Medbox’s dispensers even have the precaution of requiring a finger print check for identity. The company hopes to ultimately place these dispensers in the thousands of clinics and approved facilities that it hopes one day will dispense medical marijuana.
Rollout with Orders Coming in
In a Feb. 26 release, Medbox announced the rollout of its new dispenser and said it had already taken orders for the new product.
Company executives stated the underlying technology has been awarded a patent (US 7,844,363 B1) that the company benefits from and there is also a patent pending on additional features and functionality as follows:
– Designed to securely store and dispense marijuana via an attached Point-of-Sale terminal (not pictured) at the control of dispensary operators and never directly accessible by consumers
– Engineered to have a UL safe rating between Residential Security Container (RSC) and Class B rated safes for the US and upgraded U.L. TL-15 designation for Canadian placements meeting or exceeding any state or country’s requirements for secure storage and dispensing of marijuana
– Re-enforced steel plate structure & steel bolted inner access door
– Double walled & insulated sides/top for fire and thermal protection
– Inner door secured by multi-point interior locking system
– Fully electric operated and controlled locking system
– Fully programmable pass codes and fingerprint recognition for multi-level operator access
– No key or mechanical override mechanism ensuring no unwanted access
– Intrusion alert feature via SMS or email message after 5 unsuccessful access attempts or upon interior motion sensor activation.
“We have over 100 of our prior dispensing safes out in the field, and pre-orders for over 200 more of our next generation dispensing safes for Washington, Illinois, Nevada, and San Diego. We have a busy rest of the year ahead of us!” Medbox Vice President Matt Feinstein, stated in a written statement.
New Patents Awarded
At the same time, Medbox is developing and patenting even more practical products for the cannabis industry.
On Jan. 21, Medbox announced that it has expanded its intellectual property portfolio with the confirmation that it has been awarded two additional patents for its Vaporfection brand of products. The announcement was made in conjunction with a comprehensive shareholder update, and Form 10 filing with the Securities and Exchange Commission.
The patents, awarded to the company’s wholly owned subsidiary, Vaporfection International, Inc., specifically relate to:
– Vapor Glass™ technology, which features the use of laboratory grade glass encased heating element positioned in the center of the laboratory grade glass heating chamber air pathway. This unique Glass on Glass design results in a superior quality and efficient air/heat flow vapor, which ensures that nothing but the purest convection heated air enters the plant material, which releases the purest, naturally flavored and virtually odorless vapor into the users’ respiratory system. This method is unlike most vaporizers that apply conduction heat to the plant material using ceramics, metals and other possible contaminates in the air pathway.
– Vapor Sense™ technology, which features a touch screen interface linked to an automatic temperature sensing control system. The technology uses a digital microprocessor temperature controller directly connected to a thermo coupling temperature sensor in the heating chamber. It also incorporates a fixed temperature setting option, auto shut-off, and cool-down safety features.
On Mar. 10, MDBX shares closed at $30.30 down 20 cents from its closing price the previous day of $30.50.
Find out what could be the best investor’s move when it comes to MDBX by getting the complete report here, or by cutting and pasting the following link in your Web browser:
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Source: Accesswire IA (March 11, 2014 – 11:21 AM EDT)