Looking over our picks in 2018, we have had numerous wins in the Canadian cannabis sector. We are going there once again, making IntelGenx Technologies Corp. (IGXT) (IGX.CN) our next trade alert after it signed a deal with Tilray (TLRY) on Thursday. We are up to 664 followers despite not giving out a lot of alerts, a fact that we think is indicative of a diligent and prudent stock picking history. If you like our picks you can follow our blog by clicking the follow button on the top of the left hand panel. You can also follow us on Twitter @StockTradePicks. We have over 3,000 followers on Twitter as well.
IGXT rose about 115% on both sides of the border after it announced the following deal with Tilray:
SAINT LAURENT, Quebec, Sept. 20, 2018 (GLOBE NEWSWIRE) -- IntelGenx Corp. (TSX-V:IGX) (OTCQX:IGXT) (“IntelGenx”) today announced that it has executed a non-binding letter of intent (the “LOI”) with Tilray, Inc. (NASDAQ:TLRY) (“Tilray®”), a global leader in cannabis research, cultivation, production and distribution, to co-develop and commercialize oral film products infused with recreational and medical cannabis (“cannabis-infused VersaFilm™”), in anticipation of amended cannabis regulations which would allow adult-use consumers to purchase edible products.
Pursuant to the LOI, subject to entering into a definitive agreement and the satisfaction of customary closing conditions, IntelGenx and Tilray will fund 20% and 80% of the costs associated with the development of the cannabis-infused VersaFilm™ products, respectively. IntelGenx will have rights to manufacture and supply the co-developed products to Tilray, and will also receive a fixed single-digit royalty on net product sales. Tilray will have the exclusive, worldwide marketing and distribution rights for the co-developed products.
The LOI also contemplates that, at the time of entering into the definitive agreement, Tilray® will make a strategic investment in IntelGenx by way of a non-brokered private placement (“Private Placement”). Tilray® will purchase 1,250,000 common shares of IntelGenx at a price of USD$0.80 per share, which is equal to the five-day volume weighted average closing price of IntelGenx’ common stock on the OTCQX for the period ended September 18, 2018. IntelGenx intends to use the proceeds from the Private Placement for cannabis-infused VersaFilm™ product development in connection with the LOI. The Private Placement will be subject to the approval of the TSX Venture Exchange.
“Our proprietary VersaFilm™ drug delivery platform offers a number of proven advantages - including increased bioavailability, precision dosing, accelerated onset of action, reduced side effects, child-resistant packaging and easier, more discrete administration - all of which we believe have the potential to improve the way people may use and experience cannabis in the future,” said Dr. Horst G. Zerbe, President and CEO of IntelGenx. “This LOI marks the first step in forming an exciting partnership with Tilray®, a global leader in the medical and recreational cannabis industry.”
IGXT rose about 115% on both sides of the border after it announced the following deal with Tilray:
SAINT LAURENT, Quebec, Sept. 20, 2018 (GLOBE NEWSWIRE) -- IntelGenx Corp. (TSX-V:IGX) (OTCQX:IGXT) (“IntelGenx”) today announced that it has executed a non-binding letter of intent (the “LOI”) with Tilray, Inc. (NASDAQ:TLRY) (“Tilray®”), a global leader in cannabis research, cultivation, production and distribution, to co-develop and commercialize oral film products infused with recreational and medical cannabis (“cannabis-infused VersaFilm™”), in anticipation of amended cannabis regulations which would allow adult-use consumers to purchase edible products.
Pursuant to the LOI, subject to entering into a definitive agreement and the satisfaction of customary closing conditions, IntelGenx and Tilray will fund 20% and 80% of the costs associated with the development of the cannabis-infused VersaFilm™ products, respectively. IntelGenx will have rights to manufacture and supply the co-developed products to Tilray, and will also receive a fixed single-digit royalty on net product sales. Tilray will have the exclusive, worldwide marketing and distribution rights for the co-developed products.
The LOI also contemplates that, at the time of entering into the definitive agreement, Tilray® will make a strategic investment in IntelGenx by way of a non-brokered private placement (“Private Placement”). Tilray® will purchase 1,250,000 common shares of IntelGenx at a price of USD$0.80 per share, which is equal to the five-day volume weighted average closing price of IntelGenx’ common stock on the OTCQX for the period ended September 18, 2018. IntelGenx intends to use the proceeds from the Private Placement for cannabis-infused VersaFilm™ product development in connection with the LOI. The Private Placement will be subject to the approval of the TSX Venture Exchange.
“Our proprietary VersaFilm™ drug delivery platform offers a number of proven advantages - including increased bioavailability, precision dosing, accelerated onset of action, reduced side effects, child-resistant packaging and easier, more discrete administration - all of which we believe have the potential to improve the way people may use and experience cannabis in the future,” said Dr. Horst G. Zerbe, President and CEO of IntelGenx. “This LOI marks the first step in forming an exciting partnership with Tilray®, a global leader in the medical and recreational cannabis industry.”
Not only are IGXT and TLRY planning to enter into a partnership whereby TLRY covers 80% of the costs, but TLRY is also making a $1 million strategic investment into IGXT. so we know that this deal is serious even if it's only at the LOI stage. While IGXT more than doubled, we think that it has MUCH further to go as it still sits only at a $116 million market cap while TLRY has grown into a $16 billion company. If TLRY didn't pull back from its crazy run to $300, IGXT probably would have gone up over $5 on Thursday, similar to what New Age Beverages Corporation (NBEV) has done. With this lightning hot cannabis sector and thin asks on IGXT and IGX in Canada, we think that $5.00 will be possible soon, if not on Friday. IGXT is definitely one to put on your watch list, but be prepared for very high volatility if you buy it.
Disclosure: We are long IGXT
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Bitcoin has gone from a concept worth pennies a few years ago to worth thousands of dollars. It may appear to some who are late to the game that the opportunity to get rich is gone. However, there are still plenty of ways to make some money trading in bitcoin and other cryptocurrency. Here are some links to valuable reports and strategies:
The Cryptocurrency Codex from the Cryptocurrency Institute
Secrets To Unlimited Free Bitcoin
The Crypto-Currency Evolution eBook
Bitcoin Complete Guide for Dummies
The Bitcoin Miracle Guide
The Bitcoin Cheat Code Book
The Crpytocurrency Course
Bitcoin Investing Live
If you're interested in making money investing or trading the stock market, here are some good resources to assist you. This includes technical analysis, investing in the weed sector, dividend stock investing, gold and commodities, sector rotation, options trading and microcap trading strategies.
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Top rated signals for binary options from binaryoptionsprosignals.com
Goldmasterinvesting.com Ocean Of Gold Report for the top 15 gold mining companies
Trader Review shows how to time the market with its "Percent of X" indicator
The Trader's Academy Club
The Wealth Builder's Club from beatthemarketanalyzer.com
MyBB: A Forum For Investors and Traders
Spartan Trader Forex Academy Live Daily Trading Room
Try the Z Code System if you're looking for other ways to make money systematically outside of the stock market.
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