Cannabis stocks continued to hit highs today, as stocks boosted on a host of news: new brand partners and numerous supply deals.
As the countdown to the legalization of recreational marijuana in Canada continues its countdown, investors were active Monday, with the majority of major cannabis stocks in the green.
Buds: Liberty Health, Ascent Industries up
Liberty Health Sciences Inc (CSE:LHS, OTCQX:LHSIF) shares soared today after it rolled into Florida’s vaporizer market. Shares were up 15.8% at C$1.17 in Toronto and up 16.4% at US$0.89 in New York.
The Toronto-based company announced it will be the first brand partner for PAX Labs' PAX Era vaporizer, a temperature-controlled portable cannabis oil vaporizer.
Shares of Ascent Industries Corp (CSE:ASNT) jumped 10.7% at $C0.62 after it announced its wholly owned subsidiary, Agrima Botanicals, had struck a deal to supply the Ontario Cannabis Retail Corp, operating as the Ontario Cannabis Store (OCS).
"As legalization approaches in Canada, Ascent is pleased to have been chosen as a supplier to the provincial distribution bodies in two of Canada's largest markets," said Philip Campbell, chief executive.
"We look forward to introducing consumers to our adult-use products and continuing to expand our relationships with these two important purchasers."
Today, The Supreme Cannabis Company Inc’s (CVE:FIRE, OTCQX:SPRWF) subsidiary 7ACRES signed a supply deal with Tilray Inc (NASDAQ:TLRY) to provide dried cannabis to its subsidiary Tilray Canada Ltd. The value of the initial supply agreement is estimated to be in excess of C$2mln.
Supreme Cannabis Company shares were up 11.6% at US$1.73 in New York and up 11.8% at C$2.27 in Toronto.
Tilray Inc shares were up 8.5% at $US84.50.
MYM Nutraceuticals Inc (CSE:MYM) shares were down 5.5% at C$1.21. The company released news last week that it continues to move forward with its 1.5 million sq/ft cannabis greenhouse production facility located in Weedon, Quebec.
MYM Nutraceuticals is a shareholder in two production projects in Quebec as well as a shareholder in two additional cannabis production projects in Australia and Colombia.Join Proactive’s Crypto, Blockchain and Cannabis Telegram group here