With this most recent leveling off around the $2.00 range, could CPMD be finding support for its next major run?
Since the beginning of July, CPMD has more than doubled in size. Why has that happened? Part of the reason has been all the major news the company has released this summer.
Your No. 2 Potential Catalyst For CPMD
CannaPharmaRx Agrees to Acquire CA CB Facility
Company Agrees to Purchase River Road Production Campus from Bristol Capital Investors
CALGARY, AB / ACCESSWIRE / July 7, 2020 / CannaPharmaRx, Inc. (OTC PINK:CPMD) a future leader in ultramodern, highly efficient CB production facilities in Canada, announced today it has signed a letter of intent to purchase a CB production facility located in Cathedral City, California.
The purchase price will be $10Mn. The acquisition is anticipated to close during the next 45 days, subject to CannapharmaRx receiving appropriate funding. The property will need approximately $20Mn in upgrades to become fully functional according to CannaPharmaRx's standards. While no assurances can be provided, the Company believes it has secured financing for this project via a senior credit facility. Upon completion of upgrades, which are expected to take approximately 6-7 months, the production facility is expected to generate up to 50,000 kilograms of CB per year.
"Completion of this acquisition will be a significant milestone for our Company. We are hopeful that it is the first of many transactions we are able to close this year in order to commence grow operations during the first half of next year," said Nick Colvin, CEO of CannaPharmaRx.
Your No. 3 Potential Catalyst For CPMD
CannaPharmaRx Announces its Plan to Move From the Pink Open Market to OTCQB
CannaPharmaRx Anticipates its Application Will be Submitted This Quarter
CALGARY, AB / ACCESSWIRE / June 16, 2020 / CannaPharmaRx, Inc. (OTC PINK:CPMD) a future leader in ultramodern, highly efficient CB production facilities in Canada, announced today that the Company has begun the process to move from the Pink Open Market to the OTCQB. The OTCQB Venture Market is for early-stage and developing U.S. and international companies. To be eligible, companies must be current in their reporting and undergo an annual verification and management certification process.
"We are excited for the possibility of advancing to the OTCQB from the Pink Open Market," said Nick Colvin, CEO of CannaPharmaRx. "We believe that this uplist will further validate our presence as a publicly traded company. We have already been following most of the criteria for OTCQB eligibility, but we look forward to formally being listed as an OTCQB company. While there are no assurances that OTCMarkets will approve our application, we are working diligently to ensure that we meet all of the necessary requirements for approval," added Colvin.
Your No. 4 Potential Catalyst For CPMD
CannaPharmaRx, Inc. Enters Revenue Growth Phase
CALGARY, AB / ACCESSWIRE / May 21, 2020 / CannaPharmaRx, Inc. (OTC PINK:CPMD) a future leader in ultramodern, highly efficient facilities for the distribution to wholesale licensed CB retailers, announced today that the Company has entered into a fundamental revenue growth phase via strategic acquisitions and end product opp's. The company is confident the strategy of acquiring complementary businesses and adding value will provide the most efficient path towards significant revenue generation.
Dominic Colvin, CEO of CannaPharmaRx stated, "There are many undervalued opp's that could benefit our business going forward. We believe we are entering a critical business phase that should enable material revenue growth for our company. Our plan is to continue to generate revenue through acquisition while simultaneously remaining active with the existing business within CannaPharmaRx. We remain confident with our growth forecast. Our commitment to become one of the top licensed producers in Canada remains our focus and we are excited to expand our vision as we increase revenues and continue acquisitions. The company looks forward to communicating with shareholders as materials events occur in the near term."
CPMD Is Strengthening Its Position In The Market Through A Variety Of Moves
- In the process of completing an application to list its common stock on the Canadian Stock Exchange with initial trading anticipated to begin during the third quarter of 2020.
- CPMD is working toward closing the acquisition of the Okanagan Falls project, a 760,000-square-foot glass house located on a 114-acre parcel in southern British Columbia, CA. Once fully built out, the facility has an annual production capacity of 265,000 pounds (120,000 kilograms). As a result of the current pandemic, like many other companies, CannaPharmaRx has experienced certain delays with closing the financing for this acquisition. The company believes those issues have been resolved and expect to close on this investment during the current quarter.
- The company continues towards its goal of reviewing and researching multiple new acquisition and development opp's within the area of cultivation and genetics.
- CPMD is fully expecting to file its annual report within the SEC's newly allotted time frames and intends to update shareholders periodically.
Pot Stocks Could Be In For A Major Second-Half 2020 Rebound
CannaPharmaRx Inc. may start getting recognized by Wall Street for its production facilities and plans in Canada.
According to BNN Bloomberg, for every 1 gram of CB priced at $10 in Canada, producers are estimated to earn $3.60. In addition, it is estimated that the private sector will generate close to $1Bn in EBITA with 85% coming from production and the rest from retail.
The loosening of government regulations has resulted in strong demand for the CB industry. In addition, the passing of the CB Act and CB 2.0 being rolled out in Canada have created a strong opp. for industry producers such as CannaPharmaRx, Inc.
CPMD could become one of Canada's biggest and most important companies in the CB market and is worth watching at current levels.
Coverage officially initiated on CPMD immediately.