HOUSTON, TX -- February 19, 2019 -- InvestorsHub NewsWire -- It's become tough to ignore the cannabis story.
Over the last year, Canada approved its recreational use. More U.S. states are legalizing. Corporate America is using cannabinoids and hemp oil in everything from lotions and pain balm to beverages. President Trump signed the 2018 Farm Bill into law. Congress has even submitted a cannabis bill that could legalize cannabis at the federal level.
Even better, according to Arcview Market Researcher and BDS Analytics, global spending on cannabis is expected to rocket 38% this year to $16.9 billion up from $12.2 billion in 2018.
Along the way, it's creating sizable sales opportunity for several companies, including The Yield Growth Corporation (CSE: BOSS)(OTCQB: BOSQF), HEXO Corporation (TSX: HEXO) (NYSE: HEXO), and The Supreme Cannabis Company Inc. (TSX-V: FIRE)(OTC: SPRWF).
The Yield Growth Corporation (BOSS) (BOSQF), for example just announced it received over $3,600,000 in warrant and option exercises during the first two weeks of February 2019.
"With the additional capital and our strong stock performance we intend to expand our brand portfolio and continue to build shareholder value through strategic acquisitions and joint ventures," said Penny Green, President and CEO of Yield Growth.
The Yield Growth Corp. subsidiaries are developing and manufacturing a wide range of personal care products containing hemp root oil and various cannabinoids. In addition, The Yield Growth Corp. is currently seeking to obtain necessary licenses to process cannabis and manufacture cannabis products in multiple jurisdictions where such products can be sold.
For More Information on The Yield Growth Corporation, Click Here.
The Supreme Cannabis Company Inc. (FIRE)(SPRWF) just received approval from The Depository Trust Company of New York to make the Company's shares DTC eligible. "DTC eligibility greatly simplifies the process of trading our common stock in the United States, further improving our investment appeal south of the border," said Navdeep Dhaliwal, CEO.
In addition, in its most recent quarter, the company reported 359% revenue growth year over year to $7.72 million. Its net loss was $1.55 million from a year-earlier loss of $2.03 million.
"We're pleased with our second quarter results, which show meaningful revenue growth quarter-over-quarter and continues to reflect our strong operational execution," said Navdeep Dhaliwal, CEO of Supreme Cannabis. "Since Supreme received its license over two years ago, we have been one of the fastest scaling Licensed Producer's in Canada, demonstrated by one of the strongest first years of revenue in the sector."
For More Information on The Supreme Cannabis Company Inc., Click Here.
HEXO Corporation (HEXO) recently reached a construction and licensing milestone for the first phase of its one million sq. ft. greenhouse expansion. The milestone will help HEXO increase its annual production capacity to 108,000 kg of dried cannabis.
In addition, the company just listed on the NYSE American Exchange in late January 2019. It also closed a secondary offering of 8.85 million common shares that raised approximately $43.4 million in gross proceeds, which it will use for general corporate purposes, a global growth initiative, and to develop new products.
For More Information on HEXO Corporation, Click Here.
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