$186.35  $2.87 
$137.59  $0.24 
$2,151.82  $5.44 
$663.90  $45.52 
$2,186.26  $28.65 

Cannabis and CBD Stocks enjoying the summer growing season

Cannabis and CBD Stocks enjoying the summer growing season

DENVER, Colo., June 12, 2019- (24/7MarketNews via COMTEX) Not only does “Sell in May and go away” make sense for the large group of investors who prefer to get away from the computer screen, by taking the family for a beach getaway, it coincides with the fact that many sectors tend to have slower summer news cycles.

Of course, like most rules, there are exceptions and, in this case, summer is often prime time for home improvement retailers and some hospitality providers. If the first third of June is an indication, the Hemp, Cannabis and Cannabidiol (CBD) sectors may become a summer stronghold.

From the FDA’s hearings on cannabis and its ingredients, to several key business model developments; it looks like the light just turned green on what shaping up to be the most active summer, yet, in the Hemp, Cannabis and CBD space.

One of the biggest drivers may be on the banking regulatory front, as separate efforts from the  State of California and on the federal level are looking to resolve the banking dilemma that has hampered the industry.

Despite its 206 co-sponsors, the Secure and Fair Enforcement (SAFE) Banking Act is not a done deal, but it’s looking more likely, by the day, and is moving towards a full floor vote, after it was placed on the Union Calendar, as reported by the advocacy site, Marijuana Moment. The SAFE Banking Act is designed to protect banks that serve cannabis companies from federal law enforcement action.

Access to banking services should help facilitate additional retail sales, which will likely expand merger, acquisition and strategic partnership activity that is becoming more popular in the space.

On the analyst side, Bank of America Merrill Lynch (NYSE:BAC) elevated Cronos Group (NASDAQ:CRON) by two grades, from “Underperform” to “Buy”, with analyst Christopher Carey raising his 12-month price target by more than 50%, from $13 to $20. The rare near complete reversal is based on the belief that Cronos will soon enter into the U.S. CBD market.

Although Iconic Brands (OTCQB:ICNB) is better known for its celebrity branded drinks, like Christy Brinkley’s Bellissima Procecco, and its private labeled beverages, like Hooters Spirits, it made a major move in hemp specific CBD space.

Green Grow Farms, an Iconic Brands operating subsidiary was granted a New York State hemp growers license. Under the Hemp Research Pilot Program, Green Grow Farms can grow industrial hemp for grain, flower and CBD, which is to be processed by Lilu’s Garden, one of the largest vertical Hemp processors in the world. The 2-year, initial, agreement allows for a minimum of 2 million pounds of biomass to be processed to CBD isolate and sold under a revenue sharing agreement. With average CBD percentage and processing efficiency rates from Green Grow’s farming operations, two million pounds should process into approximately 40,000 kilograms of CBD Isolate.

Similarly, Tilray (NASDAQ:TLRY), which farms out extraction, distillation, cannabinoid isolation and purification services to Valens GroWorks (OTCQB:VGWCF), recently announced that the two companies plan on growing their extraction agreement by 400%, from the original 15,000 kilograms at least 60,000 kilos per year of cannabis and hemp biomass.

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DISCLOSURE: 24/7 Market News, Inc. (247), owns and operates is a third party publisher and news release service provider which disseminates corporate news electronically through multiple online media platforms. 247 is NOT an affiliate with any of the companies mentioned in our reports. 247 is a news distribution service and is not registered with FINRA or any other professional licensing service. 247 is not an analyst, broker dealer or advisor, and holds no such licenses. 247 may NOT offer to buy, sell, hold any security. 247 Venture Beats, and Breakfast bits and any other corporate profiles will NEVER be a solicitation or recommendation of any kind, of any security mentioned. The materials in all our releases are intended to be for informational purposes only, and should never be considered research or due diligence on any company mentioned. All readers are encouraged to perform standard due diligence by reading the company’s filings at Readers should consult their broker or licensed professional before investing in any company. All materials in this release are based on publicly available statements made by the companies. 247 is not liable for any investment decisions made by any readers or subscribers. Any investment could result in you losing all of your money from investing in any stock. 247 is compensated for dissemination of this release by Iconic Brands, Inc. in the amount of twenty five thousand dollars per month. 247 holds no shares and will not be trading in the market of any company mentioned in this release.

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and 247 undertakes no obligation to update such statements.

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