Heritage Medical Cannabis Holdings Corp
Umbral Energy Corp. (CSE: UMB) Heritage Medical Cannabis Holdings Corp, might be inching their way closer to becoming free trading again after being halted back in November after announcing a Change of Business (COB) to a Cannabis issuer.
The new name will be Heritage Medical Cannabis Holdings Corp and no announcement on the ticker change but we suspect it should be free trading early in the new year.
Why we like them
They acquired a majority stake (75%) in PhyeinMed (Late-stage LP applicant) back in 2014 and Umbral have be slowly winded down their traditional mining exploration business.
In 2016, they have announced a partnership with a hemp based Canadian company to invest in the financing for an Industrial Hemp Licence.
In 2017, they bought 13 acres of land in Falkland BC , halfway between Kamloops and Vernon. They initially announced a 15,000 sq. ft. facility (build out) and subsequently announced an expansion of a brand new 14,000 sq. ft., two story facility which will be built simultaneously with phase 1 retrofit.
These represent a total of 37,000 sq. ft. of the planned 420,000 sq. ft. of cannabis production targeted for the 13 acre location.
A few major factors that might lead to a huge rally when the share become free trading are:
- The 37,000 sq. ft. facility is nearing completion and awaiting their LP license.
- Huge room for expansion on the 13-acre site (which they own outright)
- Pending Industrial Hemp license for CBD (pending legislation changes)
- Distribution agreement in place via their partnership with Canopy Growth Corp. (TSX: WEED) to supply their cannabis products via TweedMainStreet.com
They essentially have the facility locked down (with huge room to expand), distribution ready, and are just waiting for the LP for them to go full tilt on their operations, with a very low market cap……..~$20 Million. Just compare that to some of their peers out there and you will see the difference.
So we wait much like we are waiting for ALQ Gold to become free trading.
Once they get the OK from the CSE, hold on tight as this stock is in for a ride.
Fortune Favours the Bold