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Cannabis Wheaton Income Corp (OTCMKTS:CBWTF) Closes Deep In Red

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In the last trading session, the stock price of Cannabis Wheaton Income Corp (OTCMKTS:CBWTF) declined more than 8% to close the day at $1.72. The decline came at a share volume of 6.07 million compared to average share volume of 1.20 million. Post the recent decline, the market cap of firm was noted at $523.2 million. The stock has posted gains of over 25% so far in this month.

The buzz

Cannabis Wheaton is also listed on the popular TSX Venture platform under the ticker ‘CBW’. Earlier this month the firm announced that as an outcome of strong investor demand, the company has expanded the size of its previously reported private placement offering of debenture to up to $100 million. Terms of the Offering are described in the firm’s news release published on December 22, 2017.

Cannabis Wheaton reported that the net proceeds obtained will be used to support general corporate purposes and working capital, including but not confined to, financing of the firm’s streaming partners following certain streaming deals and general and administrative costs. Subject to the closure of customary closing conditions, counting receipt of the permission of the TSX, the Offering is projected to around January 12, 2018.

As per a research report posted by New Frontier Data, sales of medical cannabis are forecast to grow to as much as over $5 billion in 2017, forming for 67% of total sales of cannabis. Medical sales in presently legal states are predicted to jump to $13.2 billion by 2025. At this point medicinal sales will form for 55% of total sales.

In contrast, adult-use sales are forecast to hit $2.6 billion in 2017, mounting to $10.9 billion by 2025. A key advancement in the cannabis market is new recreational cannabis regulations in California, which became effective on January 1, 2018.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of MMJReporter.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure

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