Whitefish, MT / March 24, 2014 / The Marijuana Index™ moved lower last week due to a fall in GW Pharmaceuticals plc (OTCBB: GWPH), which accounts for 15.81% of the market capitalized weighted index, but these losses were offset by gains in many other components of the index. Investors have also been eyeing the upcoming MMPRs in Canada, which are set to become law on April 1, 2014, as well as ongoing favorable regulations in the United States. Several cannabis companies were strong performers last week, despite the overall decline in the Marijuana Index™. Tranzbyte Corp. (OTCBB: ERBB) jumped more than 80% after completing the first placement of its ZaZZZ machine in Eagle-Vail, Colorado; Endexx Corp. (OTCBB: EDXC) rose nearly 40% after announcing that it would exhibit at the 2014 U.S. Cannabis Cup in Denver, Colorado; and, Anything Tech Media (OTCBB: EXMT) doubled in price after announcing a $1 million private placement. On a regulatory level, investors are preparing for Canada’s upcoming MMPRs to go into effect on April 1, 2014. Companies like Abattis Bioceuticals (OTCBB: ATTBF) plan to have MMPR licenses, while others like Tweed that already have licenses are planning to go public soon. In the U.S., many states continue to make progress in loosening their medical and/or recreational marijuana laws. U.S. investors are hoping that these actions will put increasing pressure on the government to create a federal framework. What's New? - Colorado Collects $3.5 Million from Pot in January – Colorado reported total marijuana taxes, licenses, and fees of over $3.5 million in January 2014 after legalizing marijuana for recreational use with its hefty tax rates. - DirectView Targets Cannabis Security Market – DirectView Holdings Inc. (OTCBB: DIRV) announced an agreement to provide video surveillance and alarm monitoring for a 15,000 square foot facility in Denver, Colorado. - MediSwipe Purchases Land to Sublease to Growers – MediSwipe Inc. (OTCBB: MWIP) completed the purchase and proposed leaseback of 80 acres zoned for agricultural use in Pueblo County, Colorado targeting growers. - Maryland Votes to Decriminalize, Not Legalize – Maryland has generated enough votes to legalize marijuana quite yet, but the Senate did vote 36-to-8 for a bill that would decriminalize marijuana possession. - MMPR-Certified Tweed Takes a Step Closer to Trading – Tweed Marijuana Inc. completed its reverse merger with LW Capital Pool Inc. (TSXV: LWI.H) to trade on Canada’s TSX Venture exchange as an MMPR producer. What to Watch This Week The cannabis sector was mixed this week. Canadian investors are waiting for April 1, 2014 when the country’s MMPRs will go into effect, while U.S. investors continue to trade companies capitalizing on the ongoing march towards legalization. With Colorado’s successful January tax revenue, many states appear to be moving more urgently towards implementing laws of their own to raise revenue and reduce crime. About CannabisFN CannabisFN.com is a dedicated financial network covering new, emerging and established companies operating in the burgeoning multi-billion dollar medical marijuana (“MMJ”) and cannabis industries. CannabisFN’s coverage is syndicated on the leading industry specific and mainstream financial websites and social media. To learn more and request a media kit, visit http://www.cannabisfn.com/market-defining-companies-program/. To subscribe to the CannabisFN newsletter or read additional coverage on cannabis laws and investments, visit http://www.cannabisfn.com. CannabisFN.com, owned by TDM Financial, is a leading provider of cannabis news and insights. CannabisFN.com may be compensated for its services in the form of cash-based compensation or equity securities in the companies it writes about, or a combination of the two. For a full disclaimer, click here SECFilings.com/disclaimer.aspx.
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