Marijuana penny stocks are mostly green across the board today! Namaste Technologies Inc. (TSXV:N) has been a long-standing top mover in the cannabis penny stock space for well over a year now. There are new marijuana companies sprouting up on the US and Canadian markets weekly. Today, we'll cover one that is making big moves in the US and Canada.
Let's take a closer look at Namaste Technologies and a new marijuana penny stock.
Namaste Technologies Revamps Acquisition
Namaste Technologies is a marijuana e-commerce company that operates out of Vancouver, British Columbia. The company is operational in 26 different countries and sells various medical cannabis products online. This morning, the company released an announcement on its AF Trading acquisition.
Previously, Namaste's wholly-owned subsidiary, Namaste Bahamas, was set to acquire the remaining outstanding shares of AF Trading Ltd for $5 million USD. However, the company has elected to use another provider and instead will acquire CannMart UK, pushing the company further into the UK cannabis market. This announcement is a big one for the marijuana penny stock, but its shares don't reflect it.
"As part of our 2019 strategy to re-prioritize our capital investments, we were able to successfully reduce the overall acquisition price of the Access Fulfillment transaction and acquire the net assets we see as adding the most value to Namaste," said Sean Dollinger, Namaste Technologies CEO. "The UK market represents a significant growth opportunity and this acquisition remains an integral part of this growth."
In the agreement, CannMart UK will enter into a two-year consulting agreement with AF.
>> OGRMF Stock: Further Gains After Hitting Milestone of 1 Million Pre-Rolls
According to Yahoo Finance, the marijuana penny stock is trading at $1.38 a share, up +$0.01 (+0.73%).
The Yield Growth Corp. (CSE:BOSS) (OTCQX:BOSQF)
The Yield Growth is a new marijuana penny stock. It was just recently listed on the CSE. The Vancouver-based cannabis company provides digital financial services to legally operating businesses. The company seeks to develop a mobile payments application that allows users to order cannabis products from a smartphone and have it delivered.
Today, BOSS is among the top trading marijuana penny stocks on the CSE. Early this morning, Yield Growth announced it has begun trading on the OTCQB market under the BOSQF ticker.
This is probably the reasoning behind its stock growth in its shares in the US and Canada. According to Yahoo Finance, the marijuana penny stock is trading on the OTCQX at $0.60 a share, up +$0.11 (+23.65%). On the CSE, BOSS is trading at $0.74 a share, up +$0.12 (+19.35%).
Featured Image: Canva
