On Thursday (January 18) a cannabis operator trading in Canada but focused in the US market strengthened its efforts in Florida, where investors could see a race for the market share heating up.
iAnthus Capital Holdings (CSE:IAN; OTCQB:ITHUF) announced it acquired the assets of GrowHealthy Holdings a local Florida company formed in 2014, which includes its affiliate McCrory’s Sunny Hill Nursery that holds one out of the 13 current Florida Medical Marijuana Treatment Centers.
“The state’s population includes a large percentage of older adults who can derive significant benefits from medical cannabis,” Randy Maslow, president of iAnthus said in the announcement.
The company explained to shareholders it paid $17.5 million in cash and “$30,500,000 was satisfied in iAnthus common shares at a price per share of $2.52.”
The cannabis producer won’t be getting a finished facility. Rather, the company will complete it with its own resources and is promising a 200,000 square feet cultivation space capable of producing 18,000 kilograms of cannabis flower per year once completed. No timetable was given for the completion of this facility.
“The GrowHealthy cultivation and operations team has already established itself as a leader in Florida’s medical cannabis market, and we look forward to contributing iAnthus’ capital and operational resources to fully build out GrowHealthy’s infrastructure,” Maslow said.

Competition brews in Florida for medical cannabis market control

One of the current leaders in the state of Florida, as far as public players focused on medical cannabis, is Liberty Health Sciences (CSE:LHS; OTCQX:LHSIF). This company launched last year with the backup from one of the major Licensed Producers (LPs) in Canada, Aphria (TSX:APH; OTC:APHQF).
Liberty Health recently opened its inaugural dispensary in the state, where a retirement community was specifically placed. Liberty Health expects to open another Florida location in the early part of 2018, increasing its sites to five.
Companies trading in Canadian exchanges but focusing on the American market or even holding direct interests there have faced scrutiny over the legality of this particular situation.
Most famously last year the TMX Group, which sees over the Toronto Stock Exchange (TSX) and the TSXV Ventures Exchange, issued a warning to publicly listed companies operating with aspirations in the US.


 

Cannabis - Will The Fortune 500 Join The Party?

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

Investor Takeaway

While the year is still young, shares for iAnthus have steadily been increasing in value. value steadily this year. So far in 2018, the company’s share price has gone up 52 percent. However, by market close on Thursday the company’s share price dropped 3.55 percent.
For Liberty Health, its share price has been trending downwards. Year-to-date, its share price has declined 14.49 percent. The entire cannabis market suffered a big blow after US Attorney General Jeff Sessions rescinded the Cole Memo, a guidance for cannabis businesses in the country protecting them from federal persecution.
That said, shares of Liberty Health have increased in value 28.26 since launching on the Canadian Securities Exchange last year.
As the cannabis market in the US begins to develop it’s key to watch closely the development of areas of interest like Nevada and California, where public companies are facing one another and competing with local businesses. According to data from Arcview Market Research, as shared by iAnthus, the Florida medical cannabis market is expected to reach a billion dollars by 2020.
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!
 

Ayurcann (CSE:AYUR) entered into a joint venture with Bazelet Group, Israel’s largest privately held medical cannabis company. Ayurcann CEO Igal Sudman shared the company’s excitement about bringing unique terpene-enriched medicinal cannabis to the Canadian marketplace. 

“Canada is a very closed-loop country, and the opportunity to bring a variety of different enhancement and technologically advanced products is very important to us. The relationship that we formed with Bazelet is going to enhance our offerings into the Canadian marketplace,” Sudman said. 

Bazelet has launched multiple lines of terpene-enriched cannabis oils; each one is specifically designed for various indications, symptoms and personal needs. The company’s terpene-enriched products are optimized for women’s health, for elderly population needs, for specific types of pains (muscle, joint, neuropathic) and for improved night sleep. 

According to Sudman, there are a lot of larger companies that have tried to do this, but none have been able to successfully bring innovation into the market. Ayurcann is rapidly forging partnerships with several companies worldwide, including Cannmart, Patient Choice and Kindred Partners.

“We’re growing the business, customer base, relationships and partnerships worldwide. We’re bringing the latest technology into Canada, and enhancing not only our company, but the investors’ value moving forward,” added Sudman. 

Watch the full interview with Ayurcann CEO Igal Sudman above.

Keep reading... Show less

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 the opening of a new Florida dispensary, the Company’s 91st nationwide.

The latest dispensary, located in Winter Park , supports Trulieve’s goal of ensuring medical cannabis patients across Florida have safe, reliable access to the medications they rely on. The dispensary expands access throughout Central Florida , joining four locations throughout nearby Orlando .

Keep reading... Show less

Nextleaf Solutions Ltd. (CSE: OILS) (OTCQB: OILFF) (“Nextleaf”, “OILS”, or the “Company”), the world’s most innovative cannabis extractor, is pleased to announce that the United States Patent and Trademark Office has granted the Company a patent pertaining to the extraction and purification of THC and CBD.

The Company believes it has developed defendable intellectual property around the most efficient methods for producing THC and CBD distillate at scale within a regulated market. Nextleaf owns 15 U.S. patents and has been issued over 80 patents globally.

Keep reading... Show less

Cannabis Company Executives share vision, answer questions live at VirtualInvestorConferences.com

Virtual Investor Conferences in partnership with KCSA Strategic Communications and ATB Capital Markets today announced the agenda for the upcoming Cannabis Industry Virtual lnvestor Conference. Individual investors, institutional investors, advisors and analysts are invited to attend. The two-day program begins at 9:30 AM ET on Tuesday June 29 th .

Keep reading... Show less

Acquisition solidifies Canopy Growth’s leadership position in the Canadian recreational market

Canopy Growth Corporation (“Canopy”) (TSX: WEED) (NASDAQ: CGC) and The Supreme Cannabis Company, Inc. (“Supreme”) (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) are pleased to announce the completion of the previously announced arrangement (the “Arrangement”) whereby Canopy has acquired all of the issued and outstanding common shares of Supreme (the “Supreme Shares”).

Keep reading... Show less