Cannabis Wheaton Up 11%, As Nationwide Legalization Closes In
Cannabis Wheaton Income Corp. (TSXV:CBW) is soaring today, as its stock is up 11% percent for the day. The stock is currently trading at $.91 up from it’s close yesterday at $.83. Two days ago the company announced its partnerships with Sustainable Growth Strategic Capital Corp, which will become a significant streaming partner to the company and will be the latest participant in the Wheaton Licensing Program. SGSC has over 100 years of combined experience in large-scale power generation.
The CEO of SGSC, Jim Beatty made a statement from the partnership press release:
“The entire SGSC team is looking forward to working with them on the next chapter of our journey through to regulatory licensing. We believe the Wheaton team will continue to add value to our business and the Wheaton model will allow us to leapfrog early-stage competitors by leveraging their unique platform.”
As Canada moves towards the national legalization of recreational marijuana, expected for July 1, 2018, many companies are racing to get on the ground floor. The company could potentially have a distinct advantage amongst its growing competitors as it offers diversified, reduced risk exposure.
Cannabis Wheaton is the world’s first cannabis ‘streaming’ company that is backed by political heavyweights on both sides of the platform. The income corporation has decided to jump into a huge market where the supply is most likely going to struggle to reach demand. Cannabis Wheaton provides a new life-line to the new growers who desperately need funding to get off the ground fast, offering financial assistance based on their “royalty” model. This is a new model used in this industry and a big hit with investors, as they take comfort in the fact that they are putting all their money into a single-crop producer.
As the medicinal and recreational users around Canada continues to rise and July first continues to close in, marijuana stocks should continue to rise as demand increases. Check back with us for the latest updates on Cannabis Wheaton, as we will continue to monitor the stock's movement closely.
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