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The cannabis industry is the most rapidly developing and evolving industry’s in the world and staying on top of this market is not as easy as it sounds.
As the summer season comes to a close, many investors are looking for new opportunities and we want to highlight three developments to watch.
While we find these developments to be significant, we believe that investors need to take a deep look at the potential opportunities before diving in.
Cronos: A Story to Watch as Shares Trend Higher
The last few weeks have been busy for Cronos Group (MJN.V) (PRMCF) and we are favorable on these recent developments. The market has also been favorable on these announcements as the shares have rallied more than 15% off its August lows.
On Friday, Cronos announced that one of its wholly-owned licensed producers, Peace Naturals Project entered a supply agreement with Germany-based Cannamedical Pharma GmbH, a pharmaceutical and narcotics wholesaler that is federally licensed for narcotics import.
As of September, Cannamedical is Europe’s fastest growing cannabis retailer with a network of 781 pharmacies (expected to reach 2,500 by year end). Although Cannamedical has been actively selling cannabis products throughout 2017, the agreement will help with the ongoing German medical cannabis shortage.
Next month, Cannamedical expects Peace to export one of the single largest shipments of medical cannabis in the European Union’s history. On September 13th to 15th, Peace products will be formally introduced at the Expopharm exhibition in Dusseldorf.
Cronos has been focused on the international opportunity and only a few days before the German supply agreement was reporterd, the licensed marijuana producer announced that Peace completed its first shipment of medical cannabis oil to the Cayman Islands. This was a milestone for Cronos as it represented the company’s first exported extract based product.
