WHITEFISH, MT / ACCESSWIRE / January 20, 2015 / The cannabis industry began the new year on a high note, with the Marijuana Index(TM) rebounding off of its 52-week lows established on December 31, 2014. With Peter Thiel's big decision to invest in the pot industry and favorable new legislation being introduced, investors' appetite for marijuana stocks could be on the rise in 2015 after a rough end to 2014. The venture market for weed stocks has also been on the rise, which suggests that some big-name initial public offerings could be on the way as the industry matures.
Top movers last week included Mentor Capital Inc. (OTC: MNTR), which jumped 62%, and CannaVEST Corp. (OTC: CANV), which jumped by roughly the same amount. While Mentor Capital's move occurred without any major news, CannaVEST announced that external laboratory tests had confirmed the safety and quality of its products. Shares of both companies appeared to be oversold on a technical level given the long-term downtrends that they had experienced, which likely contributed to the upside movements.
In regulatory news, favorable cannabis regulations continue to make their ways through state and federal lawmaker bodies. New York State Senator Liz Krueger filed a bill to legalize adult-use marijuana in the Empire State, although the chances of success remain up-in-the-air, especially given the state's notorious crackdown on crime. Many other states are heading in similar directions, while the federal government's new hands-off approach to the medical marijuana industry (seen in the latest spending bill) has opened up some doors.
Cannabis News
- Peak Pharmaceuticals Lays Out Plan to Drive Value in 2015 - Peak Pharmaceuticals Inc. (OTC: CTCO) recently announced its plans to generate long-term shareholder value in 2015 while recapping its accomplishments in 2014.
- Peak Pharmaceuticals Sees Strong Demand for Canna-Pet Products - Peak Pharmaceuticals Inc. (OTC: CTCO) reported strong demand for its Canna-Pet products that provide the potential beneficial effects of CBDs to pets.
- Lexaria Launches ViPova Website for Research & Sales - Lexaria Corp. (OTC: LXRP) recently released a new version of its ViPova website, which provides a venue for customers to begin ordering its CBD-infused tea products.
- Stevia Corp. Looks to Patent CBD-Acetaminophen Combo - Stevia Corp. (OTC: STEV) announced the filing of a new patent to cover a CBD-Acetaminophen combination for use in the large and growing pain management end markets.
- Maple Leaf Gets Green Light on California Project - Maple Leaf Green World Inc. (OTC: MPEFF) (TSX-V: MGW) recently announced that its joint-venture collective filed the necessary paperwork under California's MMJ laws.
- Cabinet Grow Files S-1 Registration - Cabinet Grow Inc., a provider of cabinet-based horticulture systems, recently filed an S-1 with the SEC to register 5,000,000 shares to be sold at $0.40 each.
Regulatory News
- Cannabis Industry Leaders Gather to Debate Legalization - The industry's leaders recently gathered together for a rare forum designed to lay out the groundwork for legalization and preserve the role of smaller players in the market.
- Cannabis May be Better Alternative for Chronic Pain - A new study highlights how cannabis may provide a better alternative than opioids for chronic pain management, putting another nail in the coffin of the pharmaceutical industry.
Exclusive Interviews
CannabisFN's Mike Elliott recently sat down with Lexaria Corp.'s CEO Chris Bunka to discuss the company's recent developments and plans moving forward. After acquiring ViPova last year, the company hopes to rapidly enter the legal CBD market with its hemp-based product line-up, starting with its CBD-infused teas that are already for sale on its website.
Watch the complete interview on CannabisFN: http://www.cannabisfn.com/mdc/lexaria-corp/
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SOURCE: Cannabis Financial Network