Among the new class of exploding cannabis stocks, INTEGRATED CANNABIS ORD (OTCMKTS:ICNAF) is an interesting example. The company is Canadian-based and has seen its shares take off over the past two weeks with a massive influx of volume. This is a small float player, so that jump in trading interest has really exacerbated the action. In addition, the company just announced the completion of a Letter of Intent (LOI) to distribute X-SPRAYS products throughout the clinics and doctors’ offices of Empower Clinics Inc., a leading owner and operator of medical cannabis and wellness clinics in the United States.
According to the release, “The companies have recently engaged with their marketing and distribution teams to streamline the logistics of rolling out new products in the Empower clinics. Integrated Cannabis will distribute all of its CBD-infused X-SPRAYS™ including; CBD, Sleep, Recover, Libido, and Energy throughout the Empower ecosystem.”
INTEGRATED CANNABIS ORD (OTCMKTS:ICNAF) promulgates itself as a company that focuses on the development, manufacturing, marketing, and distribution of botanically-based consumable products in Canada and internationally.
It offers a novel line of health care and life-enhancement nutraceutical sprays for pain relief, awareness, sleep, libido, energy, and recovery under the X-SPRAYS brand name. The company was formerly known as CNRP Mining Inc. and changed its name to Integrated Cannabis Company, Inc. in June 2018.
Integrated Cannabis Company, Inc. was incorporated in 2011 and is based in Vancouver, Canada.
According to company information, “Empower is a leading owner and operator of medical cannabis and wellness clinics, as well as a developer of medical products in the US, focused on enabling individuals to improve and protect their health. The company provides treatment solutions through its physician-staffed clinics that are focused on education, data, and efficacy. Empower is a recognized leader and the first choice for patients seeking quality experience and improved health. Integrated Cannabis Company, Inc. is comprised of dedicated scientists and product engineers who are passionate about health and creating health and lifestyle products utilizing advanced delivery systems and formulations.”
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As noted above, shares of ICNAF just hit a new gear on news that the company just announced the completion of an LOI to distribute its X-SPRAYS products throughout the clinics and doctors’ offices of Empower Clinics Inc., a leading owner and operator of medical cannabis and wellness clinics in the US
Traders will note better than 150% added to share values of the listing over the past month of action. The situation may be worth watching. ICNAF is a stock with a past that features some major rips.
Moreover, the stock has seen a growing influx of trading interest, with the stock’s recent average trading volume running a bit less than 870% beyond what we have been seeing over the larger time frame. Traders should note this as important due to the limited float size in the stock (fewer than 18M shares). One is wise to respect the dynamic this may create — with such a tight trading float, this kind of ramping interest can force a supply-shock squeeze.
“We believe this milestone marks another significant move for distribution of X-SPRAYS™ in key markets across the United States. In addition, we believe this alliance will help increase awareness from credible sources about alternative treatments for those struggling with opioid addiction, pain, anxiety, sleep issues and people seeking overall well-being,” said Mr. John Knapp, CEO of Integrated Cannabis. The Company expects to sign a definitive agreement with Empower in the coming weeks.
Earning a current market cap value of $31.58M, ICNAF has about $2.1M in cash on the books, which is balanced by virtually no total current liabilities. The company is pre-revenue at this point. This is an exciting story, and we look forward to a follow-up chapter as events transpire. Sign-up for continuing coverage on shares of $ICNAF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $ICNAF, either long or short, and we have not been compensated for this article.