Acreage Holdings Inc (OTCMKTS:ACRGF) certainly has started to show some signals of a possible bottom as the stock vaulted higher to close out last week. The important point to make with this action is that it coincided with a couple key conference appearances that put the company in league with some bigger players in the space.
For example, the company was at the Barclays Global Consumer Staples Conference on Wednesday, September 4, where it co-hosted an open Q&A session with executives from Constellation Brands, Inc. and Canopy Growth Corporation. The next day, it was in Toronto for the MJBizConINT’L where Kevin Murphy was joined onstage by Mark Zekulin, CEO, Canopy Growth to discuss The Future of Hemp and Cannabis in the Age of Consolidation.
The company also has scheduled a couple of other key conference appearances over the next few weeks, including Eight Capital’s Global Cannabis Conference at the Shangri-La Hotel in Toronto, Ontario on September 19 and the C3 Canna Summit on September 24, aligned with United Nations Assembly Week.
Acreage Holdings Inc (OTCMKTS:ACRGF) is a vertically integrated, multi-state owner of cannabis licenses and assets in U.S. states where either medical and/or adult use of cannabis is legal. With one of the largest geographic footprints of any cannabis companies, it currently owns and/or operates cultivation, processing and dispensary operations.
The Company is dedicated to building and scaling operations to create a seamless, consumer-focused branded cannabis experience.
According to public filings, Acreage is the largest multi-state cannabis operator in the United States in terms of number of states with operating licenses, largest total addressable market, and largest serviceable population. More recently, Acreage announced a transformative acquisition of Form Factory, which will provide the company with the capabilities to become the cannabis industry’s first and only Consumer Packaged Goods company with a national footprint.
With operating licenses in 19 states, serving a population of more than 172 million Americans, and an estimated 2022 total addressable market of approximately $14 billion in legal cannabis sales according to Arcview Market Research. Acreage is dedicated to building and scaling operations to create a seamless, consumer-focused branded cannabis experience.
If you’re long this stock, then you’re liking how the stock has responded to the announcement. ACRGF shares have been moving higher over the past week overall, pushing about 19% to the upside on above average trading volume.
Acreage Holdings Inc (OTCMKTS:ACRGF) pulled in sales of $17.7M in its last reported quarterly financials, representing top line growth of 501.3%. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($84.6M against $20.5M).
Discovery Gold Corp (OTCMKTS:DCGD) just announced it has added Cannabis and Hemp Industry leader Aaron Pelley a member to its Strategic Advisory Board. This is a strong move as the company continues to build out its team of cannabis “all-stars” following its reverse merger move into the space over the summer.
According to the release, “In this capacity, Mr. Pelley will help with all aspects legal and contract review. Aaron Pelley has played an active role in Cannabis Law for over a decade. He helped build the foundation for legal protections in medical cannabis law and is a leading advocate for the cannabis business. He has also been invited to speak at Legal Education Seminars and Cannabis Conferences throughout the U.S. and has been repeatedly named a “Rising Star” by Super Lawyers and a Top 100 Trial Lawyer by the National Trial Lawyers.”
Discovery Gold Corp (OTCMKTS:DCGD) bills itself now as a reverse merger play with a cannabis theme, taking on the DBA of GRN Holding Corporation. This new identity emerged in the clear public light after the company announced that it had added venture and financing industry veteran Justin Costello to its Strategic Advisory Board. In this capacity, Mr. Costello is expected to help guide Cannabis Global Inc.’s strategic planning, investments and partnerships in the rapidly growing cannabis industry.
Mr. Costello is the President and CEO of Discovery Gold Corporation (OTC PINK: DCGD) of Seattle, Washington, a fast growing, publicly traded new entrant into the cannabis marketplace. He also manages and is the CEO of GRN Funds, LLC, a private equity and hedge fund that secures banking resources for small to medium businesses and ancillaries.
“We are excited to have Justin Costello join the Cannabis Global Inc. team. His expertise in strategic planning and venture capital will help our growing company to identify potential acquisition partners and the best sources of capital to allow us to meet our aggressive growth plans in not only the industry hemp sector, but also within other areas of the cannabis industry,” commented Arman Tabatabaei, CEO of the Company. “We welcome Justin to Cannabis Global family.”
If you’re long this stock, then you’re liking how the stock has responded to the announcement. DCGD shares have been moving higher over the past week overall, pushing about 49% to the upside on above average trading volume.
“Mr. Pelley is a great addition to the team. He understands complex multi-state legal matters, his legal acumen is impressive and his focus points will help the company in specific areas.” commented Justin Costello, CEO of the Company.
Curaleaf Holdings Inc (OTCMKTS:CURLF) recently dipped under key support and then rebounded powerfully following earnings to push back above its major moving averages. That presents the possibility of a move to test resistance in the very important range area of $8 and just above.
That brings us to the latest announcement from the company, which continues the theme of expansion that has marked its recent communications: the company just announced the opening of its 26th Florida dispensary at 1944 Kings Highway in Port Charlotte.
According to the release, “Curaleaf has the largest cannabis dispensary footprint in the US with 49 dispensaries across the country, and continues to execute on its strategy of rapid expansion in Florida. Curaleaf’s Port Charlotte medical cannabis center will celebrate its grand opening with an event in partnership with the Charlotte County Chamber of Commerce on Thursday, September 12, 2019.”
Curaleaf Holdings Inc (OTCMKTS:CURLF) promulgates itself as a company that operates as an integrated medical and wellness cannabis operator in the United States.
The Company is the parent of Curaleaf, Inc., a leading vertically integrated cannabis operator in the United States. Headquartered in Wakefield, Massachusetts, Curaleaf, Inc. has a presence in 12 states.
Curaleaf, Inc. operates 30 dispensaries, 12 cultivation sites and 9 processing sites with a focus on highly populated, limited license states, including Florida, Massachusetts, New Jersey and New York. Curaleaf, Inc. leverages its extensive research and development capabilities to distribute cannabis products in multiple formats with the highest standard for safety, effectiveness, consistent quality and customer care. Curaleaf is committed to being the industry’s leading resource in education and advancement through research and advocacy.
Curaleaf Inc.’s Florida operations were the first in the cannabis industry to receive the Safe Quality Food certification under the Global Food Safety Initiative, setting a new standard of excellence.
It cultivates, processes, markets, and/or dispenses a range of cannabis products in various operating markets, including flower, pre-rolls and flower pods, dry-herb vaporizer cartridges, concentrates for vaporizing, concentrates for dabbing, tinctures, lozenges, capsules, and edibles.
According to its latest release, the 3,600 square foot location is easily accessible off I-75 to serve patients in Port Charlotte, Charlotte Harbor, Punta Gorda, Solana, Harbour Heights and Lake Suzi.
“It’s part of our continuing effort to expand our footprint in Florida to provide patients with access to Curaleaf’s premium medical cannabis products and educational resources,” said Joe Lusardi, Curaleaf CEO.
Curaleaf Holdings Inc (OTCMKTS:CURLF) generated sales of $64.9M, according to information released in the company’s most recent quarterly financial report. That adds up to a sequential quarter-over-quarter growth rate of 38.4% on the top line. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($140.3M against $64.1M).
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