Yesterday, we suggested that cannabis stocks might kick off the month of September in style. Our three highlighted names (CBWTF, GTBIF, and CURLF) advanced in huge moves, along with a number of other stocks in the space. Today, we are going to look at some other names that may have some gas in the tank.
Before we get into the other stocks, lets focus on MDCL. Medicine Man Technologies (OTC:MDCL) to Bolster Retail Distribution Channels with Planned Acquisition of Colorado Harvest Company.
– Colorado Harvest Company operates three retail centers in the Denver Metro area and is the Company’s ninth proposed acquisition in 2019
– Company will benefit from added retail scale and cross-selling opportunities given its current strategy to acquire a fast-growing portfolio of companies and brands
– Industry pioneers Tim Cullen and Ralph Morgan, Co-Founders of Colorado Harvest Company, bring a wealth of retail experience and their proprietary, all-natural strains to the Company
Discovery Gold Corp (OTCMKTS:DCGD) is an interesting new player in the cannabis space now doing business as GRN Holding Corporation. It may be even more interesting because of the team that seems to be coming together here. This is a reverse merger play involving some grass-roots cannabis VC skin in the game, which helps to paint the story.
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 78% to the upside on above average trading volume. Shares of the stock have powered higher over the past month, rallying roughly 88% in that time on strong overall action.
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 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.”
To help further flesh out the story, the company just announced a corporate name change to GRN Holding Corporation. In addition, the company also put out word that it added Chris Irish and Kyle Hockenstein to its management team. According to the release, Mr. Irish will hold the position of Controller and Mr. Hockenstein will hold the position of Vice President of Operations. “Mr. Irish is a senior business leader with 16 years of experience in all facets of accounting, financial analysis, controllership, and will be very helpful in keeping all fiscal aspects of the company in place,” commented Justin Costello, CEO of the company.
Discovery Gold Corp (OTCMKTS:DCGD) had no reported sales in its last quarterly financial data.
Green Organic Dutchman Holdings Ltd (OTCMKTS:TGODF) is another breakout in the works in the cannabis space.
The move comes following a 50-day MA breakout to close out August. Helping to fuel the action, the company just announced that it has obtained approval from Health Canada, under the Cannabis Regulations, to expand operations into its new hybrid greenhouse located in Hamilton, Ontario.
According to the release, “the 123,000 square foot state-of-the-art facility will serve to increase TGOD’s premium organic cannabis production as it expands its sales in Canada. TGOD’s hybrid greenhouse is the fruit of years of research and development. From its cutting-edge climate control systems and water recapture systems to LED lighting, it combines the latest technologies with natural elements such as living soil and natural sunlight. This organic growing facility has a much better environmental footprint and lower waste than traditional large-scale cannabis growing.”
Green Organic Dutchman Holdings Ltd (OTCMKTS:TGODF) is a research and development company licensed under the Access to Cannabis for Medical Purposes Regulations to cultivate medical cannabis.
The Company carries out its principal activities producing cannabis from its facilities in Ancaster, Ont., pursuant to the provisions of the ACMPR and the Controlled Drugs and Substances Act (Canada) and its regulations.
The Company grows high quality, organic cannabis with sustainable, all-natural principles. TGOD’s products are laboratory tested to ensure patients have access to a standardized, safe and consistent product. TGOD has a funded capacity of 170,000 kg and is building 1,382,000 sq. ft. of cultivation facilities in Ontario, Quebec and Jamaica.
Moreover, the Green Organic Dutchman Holdings Ltd., through its subsidiary, The Green Organic Dutchman Ltd., operates as a cannabinoid-based research and development company in Canada. It produces organic cannabis products, including organic dried cannabis, cannabis oils and edibles, fresh cannabis, and seeds for medical applications. The company was incorporated in 2016 and is headquartered in Mississauga, Canada.
TGODF managed to rope in revenues totaling $2.9M in overall sales during the company’s most recently reported quarterly financial data — a figure that represents a rate of top line growth of 0%, as compared to year-ago data in comparable terms. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($122.7M against $32.5M).
And the stock has been acting well over recent days, up something like 13% in that time. Shares of the stock have powered higher over the past month, rallying roughly 7% in that time on strong overall action.
Planet 13 Holdings Inc (OTCMKTS:PLNHF) just announced financial results for the three-month period ended June 30, 2019. Revenues were $16.5 million as compared to $4.4 million, an increase of 275%, with gross profit before biological adjustments was $9.7 million or 58.7% as compared $2.2 million or 50.8%, an increase of 333%.
The stock put in a strong base of support and took off in reaction.
Larry Scheffler, Co-CEO of Planet 13 commented, “Q2 was another great quarter for Planet 13 as SuperStore sales grew 19.4% sequentially over Q1. Most of this revenue growth dropped to the bottom line with $2.7 million in EBITDA, a 105% sequential growth over Q1. Planet 13’s market share grew in Q2 accounting for 9.5% of all Nevada dispensary sales, compared to 7.9% in Q1.1 We are growing sales on both an absolute basis and as a percentage of the total market. Our Phase II expansion is progressing at full speed with the goal of opening at the end of Q3. Phase II which includes a 15,000 sq. ft. customer facing production facility, a restaurant, a coffee shop, and event space will build on Planet 13’s leading position in Las Vegas by creating an experience no other dispensary can offer.”
Planet 13 Holdings Inc (OTCMKTS:PLNHF) promulgates itself as a cannabis company that cultivates, produces, and distributes medical and recreational cannabis in Nevada, the United States.
It also operates dispensaries that provide recreational cannabis, cannabis extracts, and infused products. In addition, the company sells its products online. It operates under the Medizin and Planet 13 brand names. The company is headquartered in Las Vegas, Nevada.
As a vertically-integrated and established cannabis company in the Nevada market, Planet 13 Holdings, Inc. provides an array of cannabis products available through its licensed operations. Planet 13 Holdings, Inc. is focused on providing a dispensary experience and managing cultivation efficiencies through its technology. Planet 13 may be able to build on its position in the Nevada cannabis market as it seeks to expand its existing operations. In the Fall of 2018, the company was working to open a retail dispensary immediately adjacent to the Las Vegas strip.
It will be interesting to see if the stock can break out of its recent sideways action. Over the past week, the stock is net flat, and looking for something new to spark things.
Planet 13 Holdings Inc (OTCMKTS:PLNHF) generated sales of $18.4M, 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 68.2% on the top line. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($26.9M against $11.5M).