PALM BEACH, FL, Nov. 15, 2016 /CNW/ - The constantly evolving cannabis and legal marijuana markets has its sights set on even more growth after recent and current massive momentum following a strong performance on latest introduction of products and services and expanded operations in North America. The cannabis performers this week include: Arcturus Growthstar Technologies Inc. (CSE: AGS.CN), Canopy Growth Corporation (TSX: CGC.TO), OrganiGram Holdings Inc. (TSX-V: OGI.V), Mettrum Health Corp. (TSX-V: MT.V) and Aphria, Inc. (TSX-V: APH.V).
Arcturus Growthstar Technologies Inc. (CSE: AGS) (AGSTF) is pleased to announce that it has signed a Letter of Intent ("LOI") to acquire a 15-acre parcel of land in Redland, Florida, in a county that is designated to legally cultivate, process and dispense cannabis. Redland is an unincorporated community within Miami-Dade County, with Biscayne National Park to the east and Everglades National Park to the west. Redland is primarily a Miami suburb and a major agricultural area. Miami-Dade County is referred to as the nation's "Salad Bowl" and "Winter Bread Basket."
Read the full Arcturus (AGS.CN) (AGSTF) press release at: http://marketnewsupdates.com/news/agstf.html
"We are pleased to have reached this LOI to acquire this prime parcel of land as it has a long history as a plant nursery, which was first established in 1963," says Mr. William Gildea, Arcturus Growthstar Technologies Inc.'s CEO and Chairman. "This acquisition will be an all-stock deal and greatly adds to our geographic footprint and overall strategy in the state of Florida. With the recent passage of Amendment 2, an initiative which significantly broadens Florida's medical marijuana program, we want to be firmly established in the state and solidify our first mover advantage in one of the biggest potential cannabis markets in the United States."
With this acquisition and the previously announced 10-acre greenhouse acquisition near Orlando, Arcturus has the potential, if fully licensed, to develop 25-acres of cannabis crops. If current state projections for the cannabis market size hold up to their $1.8B projection by 2020, Florida will have considerable demand for medical marijuana, even without factoring in the potential for recreational legislation. This is an exciting acquisition for Arcturus as the 15-acre farm is located in a designated legal grow zone with close proximity to Miami.
Other Canada Cannabis stocks performing well in the markets this week:
Canopy Growth Corporation (CGC.TO) closed up over 19% at $11.16 on Monday trading over 12.3 Million shares traded by the market close. Canopy Growth Corporation (CGC.TO) on Monday released its financial results for the second quarter fiscal 2017 ended September 30 , 2016. Second Quarter Fiscal 2017 Highlights included Revenue of $8.5 million; a 22% increase over first quarter fiscal year 2017 and 245% over the three-month period ended September 30, 2015
OrganiGram Holdings Inc. (OGI.V) closed up over 27% at $3.99 on Monday trading over 7.78 Million shares traded by the market close. OrganiGram Holdings Inc., through its subsidiary, Organigram Inc., produces and sells medical marijuana in Canada. The company was founded in 2013 and is based in Moncton, Canada.
Mettrum Health Corp. (MT.V) closed up on Monday at $5.95 trading over 2.6 Million shares traded by the market close. Mettrum Health Corp. engages in the research, development, production, and distribution of medical cannabis and cannabis products in Canada. It operates as a licensed producer under the Marihuana for Medical Purposes Regulations.
Aphria, Inc. (APH.V) closed up over 13% on Monday at $5.22 trading over 7.2 Million shares by the market close. Aphria Inc. produces, supplies, and sells medical cannabis in Canada. Its cannabis products include dried flowers and cannabis oils.
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