MJIC Inc. added four new companies to the Marijuana Index following the quarterly rebalancing with two new names being added to the U.S. Marijuana Index and Canadian Marijuana Index respectively. There are now 35 names in the North American Index with 17 in the U.S. Index and 18 in the Canadian.
The U.S. Index has added MariMed (MRMD) and Canadian Bioceutical Corporation (CBICF) and the Canadian Index added Namaste Technologies (NXTTF) and CannTrust (CNTTF).
MariMed provides advisory services to cannabis cultivators, producers and dispensaries. The company has also developed cannabis facilities in multiple states. The company has licensed partners in and distributors in RI, DE, NV, MA, and MD and they are working with manufacturers in CA, CO, AZ, OR, WA and ME. MariMed has helped numerous clients design and deploy state-of-the-art laboratories and dispensaries. The company has also licensed Tikun Olam’s cannabis genetics with five years of clinical data for its Delaware facility. The stock’s 52-week low was five cents and its high was 83 cents. It was lately trading at 37 cents.
The Canadian Bioceutical Corporation provides advisory services to two licensed medical cannabis dispensaries in Arizona. While the Company does not directly own, possess or sell cannabis or cannabis-infused products, it does provide substantial support and exerts considerable influence over these two businesses , which are legally authorized to sell medical cannabis and derivative products. Under the Health for Life (‘H4L’) brand, the two licensed dispensaries operate in the Mesa area, which is part of the rapidly growing Phoenix Metropolitan Statistical Area (MSA) with a population of 4.6 million people. Additionally, the Company supports the Melting Point Extracts (‘MPX’) brand. At 30 cents, the stock is trading at the low end of its 52-week range, which is 22 cents to $1.51.
Namaste Technologies Inc. distributes vaporizers and smoking accessories through e-commerce websites in 26 countries. The company has 30 e-commerce retail stores in 20 countries, offers the largest range of brand name vaporizers products on the market and is actively manufacturing and launching multiple unique proprietary products for retail and wholesale distribution. Namaste is currently focused on expanding its product offering, acquisitions and strategic partnerships, and entering new markets globally. This stock is also trading at the low end of its 52-week range at 16 cents, with the range between 12 and 42 cents.
CannTrust Holdings Inc. is a cannabis Licensed Producer in Canada headquartered in Vaughan, Ontario and trades in the grey sheets on the OTC Market. CannTrust currently operates a 50,000 square foot state-of-the-art hydroponic facility in Vaughan, Ontario and is upgrading a 430,000 square foot cultivation facility in the Niagara region.