It feels like the entire cannabis market is riding high on this one piece of breaking news – they’re sensing that it’s a game changer, and they’re 100% right about that. And when a small-cap company surprises everybody with good news, it gets people talking and that’s what moves stock prices.
Actually it didn’t surprise everybody, since we’ve been alerting our readers to this company for a while now. The Crush The Street researchers saw this coming, but now it’s official: Health Canada has issued a subsidiary a sales license to Canadian licensed producer Pure Global Cannabis Inc. (TSX-V:PURE, OTC:PRCNF) through their subsidiary PureSinse Inc.
Pure Global Cannabis is all over the financial news now, and is one of the the top trending stocks today – not only in the cannabis sector, but on the entire TSX Venture Exchange. Investors just can’t seem to get enough of this company, and the share price is reflecting today’s enthusiasm:
Investors are buzzing and the entire sector is up today, as this major development is significant not only for Pure Global but for the industry as a whole. According to the terms of the license, Pure Global Cannabis will now be able to sell their products into the adult-legal consumer market through provincially licensed retailers, for which Pure Global is launching uniquely curated consumer product lines tailored to specific market segments.
Malay Panchal, the CEO of Pure Global Cannabis, noted the importance of this event, saying that “This is a significant milestone for us and something we have been vigorously preparing for over the last several months.” Mr. Panchal also added, “We feel the medical community has been hugely underserviced with poor patient and physician education and product offerings, areas we hope to be trailblazers in and make a significant contribution to in 2019.”
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With the acquisition of the license, Pure Global Cannabis will soon be able to provide eligible and pre-registered Canadian medical patients with a selection of two dozen premium cannabis products offered by PureSinse, via its newly launched eCommerce website at PureSinse.com.
Crush The Street has always viewed Pure Global Cannabis and Mr. Panchal as leaders in the space, as they have been fully committed to supporting medical cannabis patients by emphasizing the quality of and access to the products they need. In light of the sales license, Pure Global anticipates growing to 70 SKUs (stock-keeping units) by mid-2019, including adding extracted oil products and vape pens.
If you ever needed a reason to accumulate shares of PURE/PRCNF, this is it. Crush The Street was already bullish on this company because of their groundbreaking work in the areas of vertically farmed cultivation, research and development, extraction, manufacturing, and distribution – and now that they have the sales license, I’m doubling down on my Pure Global call.
This won’t be the last you’ll hear from Pure Global Cannabis Inc. in 2019 – you can mark my words on that one. Look for more alerts from Crush The Street because it’s going to be a historic year for legalized cannabis, with much more upside on the way.
Chief Editor, CrushTheStreet.com
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