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Medical marijuana update: Rumors, runs and rags-to-riches

Chris Parry Chris Parry, Stockhouse.com
11 Comments| March 17, 2014


With resources slowly getting back to healthy and Bitcoin owners looking for safe harbor as exchanges keep rolling over, the medical marijuana business has suddenly become a wild west gold rush on the Venture and CSE.

Stocks are flying upward on the flimsiest of information, and millions are being made on the back of nothing more than a business plan - and sometimes less, as long dormant capital pool corporations find a reason to exist and long struggling miners ponder putting hydroponics into dry mineshafts.

In an effort to help you keep track of the confirmed medical marijuana and associated players, the 'maybe' players, and the out-and-out roulette spins, we're launching this daily update of what's happening in the business, who's moving up and down, and where the mad money is headed.

Remember, only seven companies have received licenses to grow medical marijuana in Canada, so even if a company says they're getting into the game, actually doing so might never happen. Do your own due diligence and don't invest anything you can't afford to lose.

In other words, don't get high on your own supply.

Satori Resources (TSX:V.BUD, Stock Forum): Stock unchanged on big volume after dropping 7% early, then climbing as high as 8% up at noon. Sits at $0.115. No news beyond previously noted ‘medical marijuana-ish’ moves, but this appears to be the favoured stock of hemp-driven daytraders right now.
 
Seaway Resources (TSX:V.SEW, Stock Forum): Stock had doubled in early trading, from $0.02 to $0.04 on 4.1m volume, before settling to $0.035. Still no announced business plan.
 
Global Hemp Group (currently Arris Holdings) (CSE:C.AAF, Stock Forum): Up 5% the day to $0.095 – have announced shift towards hemp industry and related products, stock split and name change.
 
Abattis Bioceuticals (CSE:C.ATT, Stock Forum): Up 30.8% on the day, having climbed to $1.74 from around $0.20 at the start of the month. Company has bought up organic and hydroponic IP from 30-year marijuana fertilizer player Green-Gro, as well as Nature Juice fertilizer products. Has previously purchased Biocube Green Grow Systems. In a market filled with business plans, this company is doing actual business.
 
Ansell Capital (TSX:V.ACP, Stock Forum): Down 21% to $0.055 three days after nearly doubling on an announcement it was seeking “opportunities in agriculture, medical, technology, finance and resources”, which has quickly become code for ‘raising money to get into medical marijuana’.
 
Alchemist Mining (TSX:V.AMS, Stock Forum): Down 4% on the day, to $0.195, after jumping from $0.07 the previous Friday. No news.
 
Enertopia (CSE:C.TOP, Stock Forum): Up 41%, rising $0.19 to $0.79, after announcing the exercising of $290k of warrants. Recently announced the signing of a Senior Vice President of Marihuana Operations. C.TOP stock has been a ten-bagger since January 1.
 
Naturally Splendid Enterprises (TSX:V.NSP, Stock Forum): Down 4.5% to $0.21 on low trading. Company deals in hemp-based nutritional products and has national distribution deals in place.
 
Thelon Capital (TSX:V.THC, Stock Forum): Unchanged at $0.085 despite 1.6 million volume over the course of the day. Only indication the company is looking to medical marijuana (aside from the all too obvious ticker symbol) is the signing of medical marijuana industry consultant Scott Walters to the Board. Up 1700% since it was $0.05 in mid-February.
 
88 Capital Corp. (TSX:V.EEC, Stock Forum): No public indication that this capital pool company is making any move into medical marijuana, in fact they haven’t released any news on any topic since they listed, but there are whispers out there that this will be a 420 play, and that’s been enough to ramp shares up 250% today, from $0.01 to $0.035, on absurdly heavy trading (for this stock).
 
Easton Pharmaceuticals (OTO:EAPH, Stock Forum): Up 27% today in massive trading across the border, now trading at $0.074. Doing several deals with medical marijuana-related companies.
 
Next Gen Metals (TSX:V.N, Stock Forum): Has announced it will be focusing on medical marijuana and industrial hemp industries after Harry Barr took control of the firm. He says the company is looking to ‘consolidate certain sectors of this fragmented industry’, and is currently reviewing 45+ business plans and proposals for getting into the space.
 
Pan American Fertilizer (TSX:V.PFE, Stock Forum): Down 2.7% to $0.18 on low trading. Worth remembering that this company has made no public move towards the medical marijuana field, but does have a loose relationship with Scott Walters, the Medical Marijuana industry consultant putting oomph in V.BUD and V.THC, which saw shares in the company take off last week with a 300% rise. The company says they know no reason for the share spike.

Modern Mobility Aids Inc. (OTO:MDRM, Stock Forum): Up 37.2% to $0.118 on heavy trading. Announced in early February it would shift to the ‘alternate medicine market’, looking at the remedial properties of marijuana in ‘its natural plant form.’ Has since increased from $0.005 up 2200%


Do you know of other companies getting into the medical marijuana game that we haven't listed here? Let us know in the comments.

Tags: INDUSTRIAL METALS & MINERALS BIOTECHNOLOGY ENERGY OIL & GAS EQUIPMENT & SERVICES

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spicy11
CYNAPSUS CTH IS THE 1ST WEED COMPANY IN NORTH AMER IT HAS WORLWIDE LICENCE 4MORE WEED DRUGS THAN THE REST COMBINED AND ITS MERGING WITH A MICRO BIO AND A MINING COMPANY IN A WEEK. GO BUY ER UP PPL......CHEERS..
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March 19, 2014
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cparry
Thanks guys. Good eye.
2 stars
March 17, 2014
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veej2
Compton Petroleum CMT-T used to be Newton Gold
2.5 stars
March 17, 2014
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mining4dollars
C.N , Next Gen Metals is flying today! Up over 50% on large volume. Somethings up with this pot stock
3 stars
March 18, 2014
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Chefboy69
you forgot one.Nex Gen Metals... And what has been happening on the TSV with the these so called "pot" stocks,,is EXACYLY what has been happening on the OTC markets..ANY ticker attached to MJ..just goes crazy, it's all based on speculation. AND ZERO FACT
1.5 stars
March 17, 2014
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bxju
Will Pot grow in Canada? I see he has Next Gen Metals as his last mention, is it a Canadian Miner going into pot? It is on the fall ballot in FL, now the 3rd largest (people)state. The amendment is very broad, so broad it might not pass. If it does pass it can be prescribed for almost anything and be called medical use.
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March 17, 2014
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Johnny881
GrowLife (PHOT) on OTCBB had an amazing day. 89.8 million shares traded, up 32% on the day. This one could become a major player in this new legal world of pot. Many deals and vertically integrated. Growlife keeps growing !
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March 17, 2014
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joem27
It would help if you were more accurate on your reporting. A simple google search on Health Canada shows 12 companies, not seven, have licenses, as of today, March 19, 2014. March 31 is the deadline. List of Authorised Licensed Producers under the Marihuana for Medical Purposes Regulations Below is the list of licensed producers authorised to sell or provide to eligible persons under the MMPR. The list is sorted by alphabetical order. Authorised Licensed Producers Name of licensed ...
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March 19, 2014
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BigBalls2
You forgot THC and SOU
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March 17, 2014
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antonaki1
Great article and a daily must read!
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March 18, 2014
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