Could True Leaf Medicine (CSE: MJ) Be the Next Big Winner in Cannabis Stocks?

Last week, First Access Medical received its cannabis cultivation license.

First Access Medical is owned by cannabis biotech firm Beleave, Inc. (CSE: BE). And sure enough, with that announcement, Beleave got a nice little bump. But those who have been following the company since last year — and believed the company would get that license — did a lot better than a “little bump.”

Don’t get me wrong. Nothing was set in stone. These types of things are always risky. But that risk can be calculated.

The fact is, last year you could’ve picked up shares of Beleave for just $0.25. Last week, it hit a new record high of $2.85 a share.

That’s a gain of 1,040%!

And there’s plenty more to come, too.

Get Exposed

Next year, full-scale legalization of cannabis will begin in Canada.

It’s essentially a done deal at this point, and now our neighbors to the north are working diligently to ensure that there are enough legal cultivators in place to meet expected demand.

Right now, Canada isn’t even close to being ready — from a supply standpoint. So over the next few months, we’re going to see a number of new cannabis cultivators land those coveted licenses. And investors are frantically trying to figure out which company is next in line.

There are quite a few cannabis companies in the running, but in the near term, there are only about two or three that are solid contenders. You should definitely have exposure to at least one.

True Leaf Medicine

My favorite pre-licensed play in the Canadian cannabis space right now is a company called True Leaf Medicine International (CSE: MJ).

True Leaf is currently awaiting licensing approval from the government. But unlike a lot of other cannabis plays waiting for their licenses (and burning loads of cash in the process), True Leaf is actually generating revenue through a side business that, quite frankly, is turning out to be pretty lucrative.

You see, while waiting for the slow wheels of bureaucracy to move, management decided to take the legal part of the cannabis plant — the hemp seed — and use it to create a product for pets.

I’m completely serious, and business is good.

True Leaf develops a line of hemp-based products with hip and joint, calming, and antioxidant support for pets. And before you shrug this off as trivial, realize that True Leaf is catering to a $3.2 billion natural pet product market and a $13.8 billion pet medication market.

Over the past few months, True Leaf has struck deals to get its pet products in stores throughout North America, Germany, New Zealand, and, most impressively, the UK with a deal with Pets Corner, the second largest pet store chain in the UK. That deal alone will put True Leaf’s products in 174 stores by the end of the year.

Based on recent distribution and retail deals, True Leaf looks like it could close in on more than $20 million in annual sales over the next four years. That’s a lot of dog treats!

Of course, what drew me to True Leaf is not its sales of hemp-based pet snacks. No, what drew me to True Leaf is the fact that it’s in line to get licensed in Canada to produce and sell cannabis — to humans. And while there are no guarantees in life, compared to what I’ve seen with a lot of other companies waiting on licenses, True Leaf actually seems to have its act together. And since the company counts zero revenue (from its hemp-based pet products) on its medical cannabis side, any value attributed as the company moves through the approval process just improves the overall picture.

Bottom line: If you’re looking to play a pre-licensed cannabis company, True Leaf is solid because it’s still going to make money even if doesn’t land that license. Although I suspect approval of that license is not far off.

And while True Leaf is my favorite pre-licensed cannabis stock, there are a ton of other “under-the-radar” cannabis stocks that are ripe for the picking. In fact, I’ve listed 46 of these stocks in my latest e-book, “A Beginner’s Guide to Getting Rich in the Legal Cannabis Market.” You can get access to that by clicking here.

You can also read my latest analysis on the global legal cannabis market in this research note.

The bottom line is that there is no greater investment opportunity right now than the legal cannabis market. And we’re taking full advantage. Click here to join us.

To a new way of life and a new generation of wealth…

Jeff Siegel

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Jeff is the founder and managing editor of Green Chip Stocks. For more on Jeff, go to his editor’s page.