The NewConnect has a company that produces and sells medical devices made from cannabis. Cannabis Poland, as it is called, is going to gain $770,000 (3 million PLN) from the cannabis market. Not so long ago, the company dealt with the production of computer and mobile games. However, this is not the first change of the sector the company operates in..
If you want to find more information about the company NewConnect, why it is now focusing solely on the cannabis market, and to read the latest cannabis news, download for free the Hemp.im mobile app.
The medical cannabis industry is in full development
Cannabis Poland will specialize in the production and sale of products containing cannabinoids made from fibrous hemp. More specifically, the company will produce and distribute vaporizers and oils for vaporizing cannabinoids. In addition, it will conduct research on new applications of cannabis.
The company stressed that the cannabis variety it uses is completely legal in Poland. Since 2017, the use of cannabis for medicinal purposes has been allowed in Poland. According to estimates, the entire medical market based on cannabis could grow to $2.34 billion (€2 billion) in Poland. The medical cannabis sector is one of the most dynamically developing sectors in many countries of the world, with the USA and Canada at the forefront.
Cannabinoids are mostly used in anti-inflammatory and analgesic treatments and are also used in Alzheimer’s disease, multiple sclerosis, leukemia and many other chronic diseases. They can also be used in the detoxification process e.g. as a smoking cessation support.
In order to support the new activity, the extraordinary general meeting of Cannabis Poland passed a resolution on the issue of shares. The company plans to raise about $770,700 (3 million PLN). The issue is closed with the collection right, which has already been allocated among the existing shareholders. It will last until July 22nd. The company wants to raise about $770,000 (3 million PLN).
Resignation from the game production industry
Before the NewConnect-listed company entered the cannabis industry, it tried its hand at producing games. To this end, it took over Telehorse Sp. z o.o. in 2017 and changed its name to Telehorse. It was supposed to produce games for personal computers and mobile devices. However, looking at the annual results for 2017-2018, it was rather not a very profitable business. The company generated barely $6,700 (26,000 PLN) in revenue in 2017 and $2,300 (9,000 PLN) in 2018.
This is not the first change in the industry that NewConnect has undergone
Earlier, from the beginning of 2017, the company was engaged in investment activities in companies producing computer games under the name Pixel Venture Capital. Even earlier, it had been operating in another industry under the name of Blue Ocean Media. In 2016, its core business was the provision of marketing services aimed specifically at real estate companies.
The company’s share price doubled after the May plans to enter the cannabis industry, and then returned to its previous level in two weeks. After cutting off the preemptive right, it tripled its value. However, we are still talking here about a penny company, whose quotations fluctuate around $0.13 (50 groszy) with little liquidity. The whole company is currently worth $976,000 (PLN 3.8 million), which makes it one hundred of the lowest-priced companies on NewConnect.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in STREFA INWESTOROW, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
French Biotech SparingVision Raises a Large Sum of Money
Initial trial results for SPVN06 are expected in 2023, with first efficacy data expected in 2025. SparingVision is also developing...
The Hurricane in the Stock Markets Is Real, Only it Is Slow Moving
Three quarters through the year and the bear market continues. Third consecutive negative quarter. The bond market is suffering its...
Why Bond Yields Continue Rising
Markets don’t like being oversold. So, I expect we may see a bounce in the Dow Jones in the coming weeks. But,...
The Real Estate Market in Italian Small Municipalities Increases by 33%
According to data from Crowdfunding Buzz's observatory on real estate crowdfunding, in 2022, to date, real estate crowdfunding has raised...
CaixaResearch Promotes Cutting-Edge Health and Biomedical Research
CaixaResearch promotes cutting-edge research in health and biomedicine. The "la Caixa" Foundation's call for health research supports 33 projects of...
Business1 week ago
The TopRanked.io Weekly Digest: What’s Hot in Affiliate Marketing [Week 38]
Business1 week ago
World Football Summit: FIFA World Cup Business Opportunities and Beyond
Featured2 weeks ago
Dow Jones and Other Major Market Indexes Were Down this Past Week
Featured2 weeks ago
Solarisbank Wins Bid for ADAC Credit Card Portfolio