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."
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