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Lifespot Health shares are soaring on a medicinal cannabis connection

David Ramos/Getty Images

Shares in Lifespot Health jumped after the medical diagnostics company said it was exploring global opportunities for medicinal cannabis.

A short time ago, they were up 12.5% to $0.315.

The company says it is looking at using its BodyTel platform to monitor medicinal cannabis use in patients.

“Company directors are currently in discussions with a number of European-based medical device companies and will update the market accordingly in due course,” says Lifespot.

Shares in listed medical cannabis companies, and companies intersted in getting into the area, have been soaring recently.

MGC Pharmaceuticals earlier this month raised $10 million at $0.065 a share to accelerate development of medical cannabis products and seek acquisitions. Its shares are trading at $0.69 today, up 7%.

MMJ Phytotech went from 18 cents to 75 cents a share and is at 69 cents today. Auscann Group went from 21 cents to 83 cents and is at 91 cents today.

Stemcell United, which announced it was looking at medical cannabis opportunities, hit 32 cents, up from a low of 1.3 cents, after briefly hitting $1. Today it is trading at 20 cents.

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