If you haven’t taken a look at INTEGRATED CANNABIS ORD (OTCMKTS:ICNAF), then you might want to take a look. The stock has been on fire, and the buzz is starting to grow by the day. Shares are up over 100% in the past three weeks and moving on an accelerating parabolic curve up the chart.
To help further drive that action, the company just announced the completion of a Letter Agreement to collaborate on X-SPRAYS products for the Canadian market with GTEC Holdings Ltd (OTCPK:GGTTF), a Canadian License Producer under Health Canada’s Access to Cannabis for Medical Purposes Regulations (ACMPR).
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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“Partnering with a Canadian Licensed Producer has been a major goal of ours in order to facilitate the expansion of our product line into legal, established marketplaces. The GTEC team is an ideal partner given their status as a LP and their tenure in the cannabis industry and provide a great alliance for our innovative product line,” said Mr. John Knapp, CEO of Integrated Cannabis.
Recent action has seen nearly 150% added to share values of the stock over the past month of action, further fueled by this new deal.
“We are very excited to be working with Integrated Cannabis and their superb line of the X-SPRAYS™ products. As we continue to push towards positioning ourselves as a preeminent cannabis company it is critical to diversify our product offering with formulations that are both novel and offer alternative delivery methods,” said Mr. Norton Singhavon, CEO of GTEC.
Moreover, the company has seen interest climb, with an increase in recent trading volume of just under 650% above the average volume levels in play in this stock over the longer term. This is particularly important with a float in play that’s tight — under 18M shares. One is wise to respect the dynamic this may create — a restricted trading float and a jump in trading volume can crimp supply and push share prices higher.
Earning a current market cap value of $39.55M, 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.