FP says Next Gen Metals hosts GreenRush gabfest in TO hasn't done much for the stock... no surprise....
FP says Next Gen Metals hosts GreenRush gabfest in TO
2014-06-30 09:18 ET - In the News
The Financial Post reports in its Saturday edition there was a lot of excitement at Toronto's first marijuana investment conference. The Post's Peter Koven writes the conference had the feel of a mining show, which was appropriate enough, since many marijuana firms were junior miners until a few months ago. The conference was hosted by Next Gen Metals (12.5 cents). Next Gen medical adviser John Befelo told the conference: "It's the new trillion-dollar industry. ... We don't have to mine it from the earth. We have to grow it from the ground." There were zero marijuana companies on Canadian stock exchanges a few months ago. Today, there are more than 30 and the number is growing by the week. It is all in response to new rules from the Tory government, which require medical marijuana users to buy product from licensed producers instead of growing it themselves. These companies have created a frenzy in the penny-stock investing world, with many of their stocks soaring 1,000 per cent or more simply because they entered the business. As a result, Thursday's GreenRush conference had hundreds of attendees. The eclectic audience ranged from elderly retirees to a few young potheads.