Icanic Brands (ICAN.CN / ICNAF) Pot Penny Stock

Discussion in 'Penny Stocks' started by MarkITRight, Aug 16, 2020.

  1. MarkITRight

    MarkITRight Member

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    Here's one I've been mulling over.

    I don't understand the cannabis retail market very well, so anyone who does please let me know your thoughts.

    https://www.icaninc.com

    ICAN.CN ($0.225 CAD)
    ICNAF ($0.1634 USD)

    Icanic brands finalized their final tranche of their 2MM fundraising on Thursday 08/13 issuing 3,710,000 units, at a price of $0.25 per Unit for aggregate gross proceeds of $927,500. In total, the Company issued 8,000,000 Units at $0.25 for aggregate gross proceeds of $2,000,000 11% premium to friday's close of $0.225.

    Insiders locked almost 42% of the float till Dec 2021 and have average cost higher than 25 cents.

    They sell very premium quality prerolls. Most smokers know their Ganja Gold brand and they are in 75% of clinics in California. They make about $8 million in revenue now and plan on using the $2MM to release the same premium grade prerolls for affordable prices by having them be machine made. Also will be selling premium flower jars. If they get similar distribution on their new products they should double revenues to about $16 million per year. With dems gaining strength I'm considering it. I know Biden said he is not for legal cannabis after meeting with the progressive Bernie camp but is for decriminalization and moving the ball forward so should add a few more markets, and cannabis legalization, in my opinion, will happen in the next few years.

    Expanding sales to their existing large foothold of clinics.
    More cannibis clinics opening up.
    Insider shares locked up much higher levels (42% of float)
    Institutional capital raise at 11% higher than this level ($2,000.000)

    Do yall think Icanic be a premium cannabis brand and are you betting on cannabis going into the elections?
     
  2. MarkITRight

    MarkITRight Member

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    Up 18.5% on the day with no news, currently 0.32 CAD
    Nice breakout!

    Cheers to all the longs.
     
  3. MarkITRight

    MarkITRight Member

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    This came out last week also, bodes well for cannabis stocks.


    upload_2020-8-31_17-38-24.jpeg
     

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