Today’s cannabis penny stocks market is showing growth for some of the most watched penny stocks. Specifically, Namaste Technologies is on our radar again but also, we are taking a peek at CROP Infrastructure who, as of today, just doubled its footprint in Nevada.
Cannabis Penny Stocks: What’s Happening?
Starting with Namaste (TSXV:N), the company made two announcements this morning:
The first announcement stated it had signed a revenue-sharing agreement with Cannvas MedTech (CSE:MTEC). The deal will see the two companyies share revenue that is generated through mutual co-branding and marketing plans. This will happened using NamasteMD—Namaste’s medical cannabis patient portal, which the company disclosed saw a 130% increase in signups in the last two months—and the Cannvas.me cannabis education platform.
And Another Announcement
But it didn’t stop there. Namaste’s second announcement spoke of a wholesale supply agreement with Bonify Inc.—an ACMPR licensed producer based in Manitoba. The companies will be working together developing private-label strains of cannabis for both the recreational and medical markets.
And true to form, Namaste stock is in the green today most likely because of the news:
Namaste has been making lots of noise lately so this is one of the major cannabis penny stocks worthy of keeping an eye on.
CROP Infrastructure
Also today, Vancouver-based CROP Infrastructure (CSE:CROP) announced it has leased a further 750 acres of farmland in Nevada, more than doubling the company’s footprint in the state. CROP’s total Nevada agricultural growing space is now 1,065 acres.
The newly-leased plot comes with four housing units and a building that will be converted into an extraction facility to process the hemp produce for CBD isolate on site.
The news has pleased investors, as the company stock is up a healthy 12.5%:
Who Is CROP Infrastructure?
According to its website, CROP Infrastructure “provides financing for land expansion, turnkey state-of-the-art greenhouse facilities, brand positioning opportunities, specialized equipment, and access to approved nutrients for select licensed cannabis producers in legal growing regions.”
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Director and CEO, Michael Yorke, spoke of the leasing and his confidence in the future prospects ahead for CROP:
“As previously announced in July, our Nevada Hemp farm and licensed tenant became the largest hemp farmer in Nevada in 2018. We are confident with over 1,000 acres that our tenant will remain the largest hemp farm in Nevada. The next phase of development will be a state-of-the-art extraction facility to make high-value CBD isolate.”
So there you have two cannabis penny stocks in the green today! Both focusing on different areas of the marijuana industry, but both equally showing promising growth.
Featured Image: CROP Infrastructure
