|In the emerging cannabis industry, my |
|current favorite is XCHC (36 mm shs, 13-15 cents per share). |
This is a highly volatile stock field dominated by penny stocks such as MJNA, which I sold. This one is more of a microcap than a penny, in that it has only 36 million shares. It was a shell taken over in December by some excecutives from CBIS, which is a penny stock but had been gradually putting together a couple of interesting deals.
The stock is running on news it acquired a 25 percent stake in a jv with an indian tribe in Canada to produce cannabis and run medical clinics up there.
The chart shows it breaking out above its 200-day moving average, and that the on-balance-volume, which i watch as a sign of accumulation or distribution, looks very strong.
XCHC risks: zero cash, feds conceivably could kill the deal.
but I think this latest announcement should have some investors writing checks.
DALLAS, Feb. 13, 2013 /PRNewswire/ -- The X-Change Corporation (NASDAQ OTC:
XCHC) (X-Change Corp. or the Company), a U.S. boutique company whose niche is
cannabis and hemp based extracts and products that target medical cannabis,
cosmeceutical, nutraceutical, and social usage solutions through multiple
Phytiva Brand product lines and solutions, is proud to announce it has entered
into a historic agreement with WOLASTOKWIK NeGoot-Gook, Maliseet Nation at
Tobique (the "Maliseet Nation") of New Brunswick, Canada, to participate in the
development and growth of a legal cannabis growing facility, clinical
laboratory, manufacturing and production facility, and treatment center (the
The Agreement allows for legal cannabis and hemp-based medical research and
treatments with true global significance, as the operations under the Agreement
facilitate medical cannabis and hemp research, clinical trials, and treatments,
among numerous other opportunities for the parties to the Agreement, for the
first time in North America. And these historical groundbreaking operations,
including medical treatments, will be open to the citizens of the world in a
legal manner. The sovereignty of the Maliseet Nation allows this venture to
accomplish its goals of helping patients while being legally compliant.
The Agreement was effectuated by the Company's purchase of the twenty-five
percent (25%) stake in a joint venture from Cannabis Science, Inc. (NASDAQ OTC:
CBIS). Details of the Company's stock-based asset purchase will be released in a
Form 8K to be filed promptly.