Expansions into the US from Canadian cannabis companies offer investors an opportunity to see returns from rapidly adopting pocket markets all over the country. Now, Aphria (TSX:APH; OTCQB:APHQF) is adding to the list in the state of Florida with Liberty Health Sciences (CSE:LHS).
On July 26, Liberty Health officially began trading on the Canadian Securities Exchange (CSE) and and entered into an agreement to pick up the Chestnut Hill Tree Farm, a small “pre-revenue” company set to produce licensed medical marijuana in Florida.
“We always saw Florida as a tremendous opportunity because of the sheer population size,” CEO George Scorsis told The Palm Beach Post.
“Aphria’s success story is no longer limited to Canada”, CEO Vic Neufeld said in the statement. “Aphria’s footprint expansion provides significant growth opportunities for our shareholders.

 

Cannabis - Will The Fortune 500 Join The Party?

 
Our Exclusive FREE Report Contains Information You NEED To Know About Cannabis Stock Investing!
 

More opportunity in the growing Florida market

Reporting from The Palm Beach Post indicates that the Florida Department of Health has 23,350 patients registered for cannabis. Patients in the state must obtain a recommendation from their doctors to be treated with cannabis.
Scorsis said the company will be the “lowest-cost producer in Florida.”
On July 24, Scorsis was named CEO following his stint as president of Mettrum Health, a Canadian Licensed Producer, which got acquired by Canopy Growth (TSX:WEED) for $430 million.
Earlier this year Mettrum went through a recall process for a batch of product in which unregistered pesticides were found.
“The application of pest control products not registered for use on cannabis at Mettrum was inexcusable,” Bruce Linton founder and CEO of Canopy wrote in a letter to investors and consumers.
In the end, the voluntary recall was only a type three one, meaning it was not likely to “cause any adverse health” damage.


Investor Takeaway

In a recent interview with the Investing News Network (INN), cannabis analyst Neal Gilmer said this year the company has executed based on what they had communicated before.
“[T]hey put positive financial results. They beat all expectations that I was aware of and they beat the top line; revenues were above my expectations and consensus estimates,” Gilmer told INN.
Ever since Aphria began trading on the TSX in March, the company’s share price has declined 7.2 percent. Last week alone its stock took a 10.63 percent hit. As of 12:30 p.m. EST on Friday, shares of Aphria were trading at $5.82.
Don’t forget to follow us @INN_Cannabis for real-time news updates!
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

 

Cannabis - Will The Fortune 500 Join The Party?

 
Our Exclusive FREE Report Contains Information You NEED To Know About Cannabis Stock Investing!
 

Trulieve Cannabis Corp. (“Trulieve” or the “Company”) (CSE: TRUL) (OTCQX: TCNNF), a leading and top-performing cannabis company in the United States today announced the appointment of Marcum LLP (“Marcum”) as its independent registered public accounting firm, effective July 5, 2021 . Marcum was appointed following the resignation of MNP LLP (“MNP”) as the Company’s independent registered public accounting firm effective July 5, 2021 .

“We would like to thank MNP for their guidance and expertise over the past two years and we look forward to working with Marcum as the Company’s new independent registered public accounting firm,” stated Chief Financial Officer, Alex D’Amico.

Keep reading... Show less

Cannabis-infused beverages are not a new product concept, but this summer Canadian drink makers hope consumers will discover them for the first time.

Recreational cannabis beverages have beguiled Canadian producers through different avenues, and many continue to make investments. The promise of these drinks lies in the potential of a more welcoming option for new consumers who may be out of their depth with rolled-up dried flower.

Keep reading... Show less

In the news release, BioHarvest Sciences Inc.‘s First Cannabis Cell Reservoir Produces Ongoing Flowering Stage Cannabinoid Cells For 2 Years, issued 07-Jul-2021 by BioHarvest Sciences Inc. over PR Newswire, we are advised by the company that an incorrect version of the release was issued inadvertently. The complete, corrected release follows:

BioHarvest Sciences Inc.‘s First Cannabis Cell Reservoir Produces Ongoing Flowering Stage Cannabinoid Cells For 2 Years

Keep reading... Show less

Trulieve is the first medical cannabis operator to start planting in the state

Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “the Company”), a leading and top-performing cannabis company based in the United States announced today that it commenced operations in West Virginia . The Company has begun cultivation at their 100,000 square foot size facility in Huntington, West Virginia .

Keep reading... Show less

– The Company demonstrates the efficiency and reliability of its BioFarming technology by reducing production cycle time for Cannabis from 14-23 weeks to 3-4 weeks.

– The Company’s BioFarming technology will allow the Company to harvest 13-17 cycles per year versus 2-4 cycles per year for conventional Cannabis agriculture.

Keep reading... Show less