Cannabis Product Sales Expected to Re-accelerate This Year

Published: Jun 05, 2018

NEW YORK, June 5, 2018 /PRNewswire/ -- According to a report by Ameri Research Inc., the global legal cannabis market was valued at USD 14.3 billion in 2016 and is projected to grow at a CAGR of 21.1% between 2017 to 2024, while reaching a value of USD 63.5 billion by 2024. The cannabis industry is going through a period of healthy growth due to increasing legalization and decriminalization of cannabis products across North America. The report also specifies that legalization trends are moving beyond the U.S. region. Data by Arcview Market Research clarifies that growth of the legal cannabis industry is expected to re-accelerate in 2018, as adult-use sales ramp up in Canada, California, and Massachusetts along with first time medical sales in Florida. Crop Infrastructure Corp. (OTC: CRXPF), MPX Bioceutical Corp. (OTC: MPXEF), India Globalization Capital, Inc. (NYSE: IGC), Lifestyle Delivery Systems Inc. (OTC: LDSYF), NightFood Holdings, Inc. (OTC: NGTF)

A report by CNBC quotes MedMen CEO and co-founder Adam Bierman, who explains the current state of the industry, "There is so much excitement now around legalization nationally coming in Canada. There is so much excitement about the fact that California, Nevada, Maine and Massachusetts all legalized recreational marijuana... The Canadian public markets offer access to a lot of capital, with a lot of certainty and a lot of speed, and there is this appetite among global investors to invest in a U.S. play. Specifically, global investors want to invest in a U.S. play that has California exposure. Now is the time where it makes the most sense."

Crop Infrastructure Corp. (OTC: CRXPF) also listed on the Canadian Securities Exchange under the Ticker (CSE: CROP). Just earlier today the company announced breaking news that, "it has entered into a Membership Purchase Agreement dated June 4th 2018 (the "Agreement") with Wheeler Park Properties LLC  ("The Park") a Washington State limited liability company. CROP has agreed to advance up to US$2,500,000 to The Park for equipment purchase and retro-fit upgrades of the licensed Cannabis Greenhouse complex in return for a 30% interest.

The state-of-the-art 35,000 sqft Cannabis Greenhouse sits on approximately 9 acres of land and has undergone a complete retro-fit for full hydroponic automation including sophisticated irrigation and the addition of five hundred Gavita HPS grow lights. The greenhouse facility has 5 flowering bays that are designed to yield tenant growers over 10,000 pounds of high quality cannabis on an annual basis.

CROP Infrastructure Director & CEO Michael Yorke states: "The Park complex is a technologically advanced Cannabis production facility that automates many aspects of the growing cycle, designed to maximize crop yields and quality while minimizing margin for error. This acquisition of a 30% interest in The Park represents Crop's second interest in Washington State cannabis facilities and in its third overall portfolio including the recently announced Humboldt California interest. The Company now has investments in three operations totaling over 67,000 sqft of completed canopy space. Crop intends to continue to pursue new opportunities and expand its portfolio of tenant growers, branding and infrastructure assets in strategic jurisdictions."

The closing of the Agreement constitutes a significant transaction in accordance with the policies of the Canadian Securities Exchange. To date, the company has advanced US $2,365,864 and has earned a 30-per-cent interest in The Park complex.

Pursuant to the terms of the Agreement, the Company has agreed to advance up to US $2.5million under an interest-free loan which is repayable through 60-per-cent of the net profits (after tax) from The Park. As further incentive for advancement of the loan, CROP was issued a 30-percent membership interest in the Park, which is governed by the terms of an operating agreement."

MPX Bioceutical Corp. (OTCQB: MPXEF) an Ontario corporation, through its wholly-owned subsidiaries in the U.S., provides substantial management, staffing, procurement, advisory, financial, real estate rental, logistics and administrative services to three medicinal cannabis enterprises in Arizona operating under the Health for Life (dispensaries) and the award-winning Melting Point Extracts (high-margin concentrates wholesale) brands. MPX Bioceutical Corporation is pleased to announced on May 29th, 2018 that it has successfully completed a US$40,000,000 secured convertible original issue discount loan (the "Convertible Loan") financing (the "Offering") maturing on May 25, 2021 (the "Maturity Date"). The proceeds of the Offering will be used primarily for accretive activities including capacity expansion, acquisitions, and to support activities involved with securing new cannabis extraction, production and dispensary licenses in various jurisdictions in both the United States and Canada. "The pace of growth in our industry continues to accelerate with several U.S. states launching new cannabis legalization programs, the Canadian provinces designing and implementing retailing initiatives and acquisition opportunities arising on both sides of the border and, indeed globally. We have been introduced to multiple expansion opportunities and will be providing our shareholders and the market with an update on our progress on several of these in the next few days," says W. Scott Boyes, Chairman, President and CEO of MPX.

India Globalization Capital, Inc. (NYSE: IGC) has developed a patent-pending cannabis-based combination therapy to treat endpoints of Alzheimer's including plaques, tangles, anxiety, agitation and other NPS, which it plans to market through Canadian and U.S. medical dispensaries in early 2018. India Globalization Capital, Inc. announced on April 10th, 2018 that it has filed a method and composition patent with the U.S.P.T.O. for the formulation of Hyalolex (IGC-507), which helps address some symptoms of Alzheimer's disease including the buildup of plaques and tangles, anxiety, aggression and sleep disorders among others. This patent filing enables IGC to pursue the commercialization of this formulation in U.S. states where medical cannabis is legal, as well as in selected European countries. As previously announced, IGC will start its marketing activities in Puerto Rico with subsequent initiatives in ten key markets in the U.S. According to CEO Ram Mukunda, the Company will also incorporate the formulation and active ingredients in its website and through its presentations. "As this evolves our Company will evidence its goal of becoming a market leader in specific areas where we will have a head-start, such as Alzheimer's," he said.

Lifestyle Delivery Systems Inc. (OTCQX: LDSYF) a licensed, state-compliant vertically integrated cannabis-related company, announced that CSPA Group, Inc. ("CSPA") together with LDS Agrotech Inc. ("LDS Agro") are preparing for commencement of natural gas power generation at the cultivation and nursery facility scheduled for the last week of May 2018. CSPA and LDS Agro are finishing the installation of a 4-inch gas line to the natural gas generator and associated electrical connections to supply 480 3-phase power of over 4,200 amps to the cultivation and nursery facility in Adelanto. This is the final step in the completion of the cultivation and nursery projects. Upon completion, the Company will schedule its final inspection for the Certification of Occupancy of the cultivation division. Once the final Certificate of Occupancy is issued, CSPA will be able to apply for the State License to begin its cultivation of isogenic strains, specifically developed for the CannaStripsTM and Rêveur product lines.

NightFood Holdings, Inc. (OTC: NGTF) is a snack food company dedicated to providing consumers delicious, better-for-you, sleep-friendly choices for evening snacking. The company is developing unique properties and products in the marijuana/cannabis/CBD related snack space, and recently announced that the first production run of Half-Baked(TM) branded products has been successfully completed under license in the State of California. The Half-Baked brand THC-infused cookies each contain 10mg of THC and will retail for approximately $5. As originally announced on April 20, 2018, the product is on track to be available at retail before the end of May. "This is the birth of a leading national edibles brand in the marijuana space. That's how we view this initial production run and pilot launch," commented CEO Sean Folkson. "As more states continue to follow suit and pass marijuana legislation, we see an increase in the value of the opportunity and in the value of the Half-Baked intellectual property."

Subscribe Now! Watch us report LIVE https://www.youtube.com/FinancialBuzzMedia

Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz

Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz

Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz

About FinancialBuzz.com  

FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the 'Site') is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For crop infrastructure corp. financial news dissemination and PR services, FinancialBuzz.com expects to be compensated five thousand dollars by the company. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.financialbuzz.com.

        

        For further information: 
        info@financialbuzz.com  
        +1-877-601-1879 

 

 

Url: http://www.FinancialBuzz.com

SOURCE FinancialBuzz.com

   
 

Back to news