MPX Bioceutical
Cannabis

MPX Bioceutical Corp (OTCMKTS:MPXEF) Surging Ahead of iAnthus Capital Holdings Inc (OTCMKTS:ITHUF) Merger

MPX Bioceutical Corp (OTCMKTS:MPXEF) is surging in the market as it closes in on a merger with iAnthus Capital Holdings Inc (OTCMKTS:ITHUF). Ever since the deal was announced late last year, the stock has continued to edge higher after a steep pull back from record highs.

MPX Bioceuticals Price Analysis

In addition to the acquisition bid, MPX Bioceutical Corporation is skyrocketing on confirmation that the company is closing in on the acquisition of key assets in Massachusetts. The acquisitions are poised to strengthen the company’s prospects and footprint in the burgeoning cannabis business.

For the better part of the past year, MPX Bioceutical Corporation has traded in a tight trading range of between $0.97 and $0.56 level. Price action activity points to further movements on the upside, on renewed investor interest on the stock. MPX Bioceuticals Corporation is already up by more than 40% this year, as the uptrend continues to gain momentum.

MPXEF Daily Chart

After the recent spike, the stock is staring at key resistance at the $0.97 level, which also happens to be the stock’s 52-week high. A rally followed by a close above the resistance level should reaffirm the long-term uptrend, setting the stage for the stock to rise past the $1 a share psychological level.

On the downside, the immediate support is seen at the $0.77 level, below which short sellers could push the stock to the $0.56 mark, a crucial support level.

What Does MPX Bioceutical Corporation Do?

MPX Bioceutical Corporation through its subsidiaries produces medical marijuana as well as Pharma grade products for sale across North America. The company also cultivates manufactures and distributes cannabis in the Arizona marijuana market. It also provides cannabis-consulting services to medicinal cannabis enterprises.

MPX Bioceutical-iAnthus Capital Merger

MPX Bioceuticals Corporation is skyrocketing as investors take note of the synergies up for grabs as the company moves to merge iAnthus Capital Holdings, a heavyweight in the sector. The Supreme Court of British Columbia has already approved a merger paving the way for the two companies to join forces in pursuit of market share and shareholder value in the multi-billion sector.

Under the terms of the agreement, iAnthus Capital is to acquire all outstanding shares belonging to MPX Bioceuticals Corporation. MPX International is the new entity that will take over all MPX Bioceuticals assets in the U.S as part of the agreement.

“MPX’s spin-out company will hold all of the non-U.S. businesses of MPX and will be focused on developing and operating assets across the global cannabis industry with an emphasis on cultivating, manufacturing and marketing products which include cannabinoids as their primary active ingredient,” MPX Bioceuticals in a statement.

Some of the assets that the new entity will oversee include Canadian cannabis licensed producer Canveda Inc. and Salus Biopharma Corporation. The company will also manage a 50% medical cannabis license application in Australia, where the company is planning to expand its footprint as part of its global expansion ambitions.

Massachusetts Expansion

The merger comes on MPX Bioceuticals announcing the acquisition of two Massachusetts assets engaged in cultivation and production activities. The entities the company is acquiring include, IMT LLC and Fall River Development both of which are limited liability companies.

The acquisition will allow MPX Bioceuticals to strengthen its cannabis footprint in Massachusetts. The company is currently building out and operating a cultivation and production facility in the state. It is also in the process of ramping up its cannabis dispensaries footprint.

What Next For MPX Bioceuticals?

MPX Bioceutical is showing signs of breaking out of the tight trading range it’s been subdued in, over the past 12 months. The stock is currently flirting with 52-week highs at the back of renewed investor interest.

A merger with iAnthus Capital holdings is a development that affirms the company’s growth metrics given that the company is one of the biggest in the sector. In addition, MPX Bioceuticals has moved to strengthen its prospects by acquiring key assets in Massachusetts where it hopes to strengthen its cultivation and production activities.

The phenomenal run that the stock has experienced over the past few weeks could experience strong resistance at the $0.97 mark. While MPX Bioceutical still sees plenty of opportunities, especially after the recent spike, it may be wise to wait for a pullback before considering it as a long-term play.

We will be updating our subscribers as soon as we know more. For the latest updates on MPXEF, sign up below!

Disclosure: We have no position in MPXEF or ITHUF and have not been compensated for this article.

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MPX Bioceutical Corp (OTCMKTS:MPXEF) Surging Ahead of iAnthus Capital Holdings Inc (OTCMKTS:ITHUF) Merger
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