Canadian Cannabis Stock Rises With Friday’s Cultivation Announcement

Canadian Cannabis Stock Rises With Friday's Cultivation Announcement

Flickr / Stig Nygaard / CC BY 2.0

Canadian Cannabis Stock Trends Up

On May 19, 2017, Beleave Inc. (CNX:BE) announced that its subsidiary, First Access Medical Inc., had been awarded a cultivation license from Health Canada, prompting the Canadian cannabis stock to rise 7.62% on Friday.

BE closed the day at $2.40, which may seem paltry, but today’s development shows the stock has come a long way from the $0.27 share price recorded this time last year.

Canadian Cannabis Stock

Beleave Inc (BE:CNX) stock profile on the Marijuana Index.

“We are ecstatic to have achieved our goal of becoming a licensed producer,” said Roger Ferreira, CEO of Beleave CEO. “We have remained diligent and focused throughout the process and understand that this is just the beginning of a much bigger plan and vision for Beleave. We remain committed to building a strong foundation of research expertise that we hope will translate into the cultivation of exceptional products for qualified Canadians. Finally, we would like to thank all of our stakeholders for their patience and support over the past three years. We very much look forward to growing with you.”

With Beleave’s subsidiary securing a cultivation license, Canada now has 44 licensed producers.

The staff byline designates content that has been written by a staff writer of MJINews.

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