INTEGRATED CANNABIS ORD (OTCMKTS:ICNAF) shares continue to blaze higher, more than doubling over the past month. The stock is running on big liquidity as well, with average volume steadily rising during the advance. This is a small float play, with just 18 million shares out there, which is likely exacerbating the impact of new demand.
Parabolic moves need sustained catalysts, and the most recent news here is the company’s announcement of the completion of a Letter Agreement to collaborate on X-SPRAYS products for the Canadian market with GTEC Holdings Ltd (OTCPK:GGTTF), a Canadian License Producer under Health Canada’s Access to Cannabis for Medical Purposes Regulations (ACMPR).
INTEGRATED CANNABIS ORD (OTCMKTS:ICNAF) is a company that focuses on the development, manufacturing, marketing, and distribution of botanically-based consumable products in Canada and internationally.
On its website, the company explains that “Our founder, Dr. Clive Spray PhD, has dedicated his life to improving the quality of other people’s health. Over the last 20 years, the chemist and plant biologist has been committed to finding natural solutions to life’s lingering problems. Combining an understanding of both traditional ethno-botany with the cutting edge of nutritional science, Dr. Spray has created several formulations designed to help in the areas where we need it most, whether it is helping insomnia, increasing libido, or alleviating pain.”
It offers a novel line of health care and life-enhancement nutraceutical sprays for pain relief, awareness, sleep, libido, energy, and recovery under the X-SPRAYS brand name. The company was formerly known as CNRP Mining Inc. and changed its name to Integrated Cannabis Company, Inc. in June 2018.
Integrated Cannabis Company, Inc. was incorporated in 2011 and is based in Vancouver, Canada. Integrated Cannabis Company, Inc. is comprised of dedicated scientists and product engineers who are passionate about health and creating health and lifestyle products utilizing advanced delivery systems and formulations.
The model for its technology is based on intraoral dosage formulation, noting that they are “the fastest, most effective and comfortable way to take medicines, nutrients, minerals and vitamins. They have been acquiring important position in the market by overcoming previously encountered administration problems and contributing to extension of patent life. Oral sprays have the unique property of rapidly releasing the drug in the oral cavity, thus obviating the requirement of water during administration. Therefore, these dosage forms have lured the market for a certain section of the patient population which includes dysphagic, bed ridden, and psychic, geriatric patients.”
It is within precisely this niche that the company has been pushing forward, with this latest deal marking one of its most important steps forward.
“Partnering with a Canadian Licensed Producer has been a major goal of ours in order to facilitate the expansion of our product line into legal, established marketplaces. The GTEC team is an ideal partner given their status as a LP and their tenure in the cannabis industry and provide a great alliance for our innovative product line,” said Mr. John Knapp, CEO of Integrated Cannabis.
As noted above, the is a small float stock, which means that the company’s headway on the market is likely having a greater impact on share prices simply because of the scarcity of shares.
“We are very excited to be working with Integrated Cannabis and their superb line of the X-SPRAYS™ products. As we continue to push towards positioning ourselves as a preeminent cannabis company it is critical to diversify our product offering with formulations that are both novel and offer alternative delivery methods,” said Mr. Norton Singhavon, CEO of GTEC.