Demand for Cannabis Business Education Is Intensifying
Published: Jul 09, 2018
NEW YORK, July 9, 2018 /PRNewswire/ -- According to data gathered and published by Energias Market Research, the global medical cannabis market is expected to increase in value from USD 8.28 Billion in 2017 to USD 28.07 Billion in 2024, while growing at a CAGR of 19.1% during the forecast period. There are several crucial factors that contribute to the growth of the market, like growing recognition of medicinal benefits, increasing demand for cannabis in the treatment of various diseases, as well as growing research and development investments. Sales of cannabis products for recreational uses are also projected to increase, as California's new recreational cannabis laws went into effect earlier this year. Additionally, recent legislative victories for the cannabis industry are expected to have a highly positive impact on the economy as Canada has passed a nationwide legalization of recreational cannabis usage on June 19th, 2018. GreenTec Holdings Ltd. (TSX-V: GTEC), MPX Bioceutical Corp. (OTC: MPXEF), Auxly Cannabis Group Inc. (OTC: CBWTF), GB Sciences Inc. (OTC: GBLX), Isodiol International Inc. (OTC: ISOLF)
Despite the growing popularity of the market, education on cannabis products remains minimal. The Mount Royal University announced that it is partnering with Kwantlen Polytechnic University to offer three, non-credit, online courses on the business of cannabis. According to CBC, Brad Mahon, Dean of the Faculty of Continuing Education at Mount Royal University, explained that, "The idea was, we have a lot of courses connected to business and professional education, so this seemed like really, a natural fit; There is already a demand for the courses. We expect people who are kind of tire kickers, people who are curious and want to learn a little bit more, and we also expect people who are serious about learning more about this new industry. In many ways, these are business courses."
GreenTec Holdings Ltd. (TSX-V: GTEC) is listed on the TSX Venture Exchange under the ticker ("GTEC"). Just earlier today the company announced breaking news that they are, "pleased to provide the following update on the operations of its retail subsidiaries."
Alberta Retail - Upon commencement of the Company's TSX Venture listing, the Alberta Gaming and Liquor Commission ("AGLC") immediately processed 24 retail cannabis storefront applications under the name Cannabis Cowboy.
On March 6, 2018, GreenTec Holdings Ltd. ("GreenTec"), a wholly owned subsidiary of GTEC, subscribed for 25% of the issued and outstanding Common Shares of Cannabis Cowboy Inc. ("Cannabis Cowboy"). Concurrently with the subscription for shares, GreenTec entered into a unanimous shareholders' agreement Cannabis Cowboy and its other shareholders, which was amended and restated pursuant to an Amended and Restated Shareholders' Agreement dated March 20, 2018 and a Second Amended and Restated Shareholders' Agreement dated March 26, 2018 among the parties (the "Cannabis Cowboy Shareholders' Agreement").
Cannabis Cowboy is a Calgary-based medical marijuana counselling organization which provides safe and reasonable clinic access to medical patients who qualify under Health Canada's ACMPR. Cannabis Cowboy has now completed the development of their adult recreational use brand and strategy. Subject to receiving the requisite licenses to operate cannabis retail stores, it intends to convert its existing medical consulting clinics to cannabis retail stores and has further secured additional retail locations in Alberta, each of which comply with its respective municipal zoning by-laws for the operation of cannabis retail stores. Cannabis Cowboy will own and operate each such cannabis retail store through one or more wholly owned subsidiaries.
Pursuant to the Cannabis Cowboy Shareholders' Agreement, GreenTec has committed up to $150,000 per retail storefront, be the preferred supplier, and hold a right of first refusal on the following:
- Partnering with Cannabis Cowboy on any future locations within Canada - Participating in whole, any future financings - Purchasing any shares of Cannabis Cowboy that are offered up for sale
GreenTec's wholly owned subsidiary, Alberta Craft Cannabis ("ACC") is working diligently to complete the final step in Health Canada's ACMPR licensing progress, obtaining a Sales License. Upon receiving a Sales License from Health Canada, ACC intends to pursue a supply agreement with the AGLC.
Saskatchewan Retail - As previously announced on June 4th, 2018. GTEC's application into the Saskatchewan Liquor and Gaming Authority (SLGA) lottery process was selected to apply for a cannabis retail permit. GTEC has identified two locations, one to serve as a retail storefront and one to operate the online ecommerce segment of the License. GTEC has engaged Cannabis Compliance Inc to submit a final application to the SLGA.
British Columbia Retail - The British Columbia Liquor & Cannabis Regulation Branch earlier this week released the application process for cannabis retail storefront locations. GTEC has already secured 2 retail locations that comply with their respective municipal zoning by-laws, with the intention of applying for over 20 locations within BC.
About Cannabis Cowboy - "Cannabis Cowboy" is to be a privately owned recreational cannabis and accessories retailer based in Calgary, Alberta, Canada. Upon the pending approval from the Canadian Federal Government to legalize cannabis for recreational use, Cannabis Cowboy will begin offering retail dispensary services to Western Canada. To meet the rapidly growing demand for cannabis products and services, Cannabis Cowboy has developed an ambitious growth strategy to develop up to 30 turnkey retail locations within the next four months anticipating the legalization of recreational cannabis on October 17, 2018. http://www.cannabiscowboy.ca (please note, that there are no affiliations with Cannabis Cowboys, which is an illicit black market online dispensary)."
MPX Bioceutical Corporation (OTC: MPXEF), 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. The Company recently announced that it has successfully completed the acquisition of 100% of the issued and outstanding shares of 8423695 Canada Inc., operating as Canveda. Canveda's fully built-out 12,000 square foot facility, located in Peterborough, Ontario, is ready to commence its first production run and is capable of producing 1,000-1,200 kilograms of high-quality cannabis flower annually. "With the acquisition of Canveda, MPX has established a foothold in Canada to develop a vertically integrated business from seed to sale," said Michael Arnkvarn, Executive Vice-President and Chief Marketing Officer. "The next phase will be to expand our relationship with Panaxia, a leader in the utilization of medical cannabis in pharmaceutical solutions, to include Canada and to finalize strategic alignments with existing marijuana business enterprises that will shorten our path to a sustainable and profitable Canadian presence."
Auxly Cannabis Group Inc. (OTCQB: CBWTF) is a collective of entrepreneurs with a passion for the cannabis industry past, present and future. The Company recently announced the following construction development update on the joint venture with FV Pharma Inc., a wholly-owned subsidiary of FSD Pharma Inc., at the former Kraft food-production facility located in Cobourg, Ontario. The Facility hosts an initial 620,000 sq.ft. of building space, a portion of which is currently licensed for cultivation pursuant to the Access to Cannabis for Medical Purposes Regulations and can support additional expansion capacity of approximately 3,800,000 sq.ft. on the existing property, pending completion of all phases of the project. Pursuant to the updated and approved construction budget, Auxly will contribute USD 55,000,000 to develop the first phase of the project. The Company anticipates that the first phase of construction will be complete and ready for Health Canada approval by the end of December 2018. Pending regulatory approval, the Company expects to plant the first harvest in the first phase by the end of January 2019. Chuck Rifici, Chairman and Chief Executive Officer of Auxly commented, "As Canada moves towards legalization of adult-use cannabis and meaningfully expands its medical cannabis program, Auxly remains committed to cultivating quality cannabis flower at a meaningful scale. Cultivating cannabis requires a significant amount of energy in order to ensure proper growing conditions and this is one of the main contributors to overall operations costs. The technological advancements to be implemented at the facility provide us with flexibility in terms of securing a stable supply of energy while maintaining competitive operating costs relative to the rest of the industry."
GB Sciences Inc. (OTCQB: GBLX) is a diverse cannabis company, focused on standardized cultivation and production methods; as well as biopharmaceutical research and development. GB Sciences, Inc. has filed a new provisional patent application on June 27th, 2018 on the use of cannabis-based therapies for the manipulation of cannabis-sensitive ion channels in sensory neurons that contribute to chronic inflammatory pain conditions, peripheral neuropathy, urinary cystitis, asthma, and specific types of hearing loss. The GB Sciences drug development team believes that these new cannabis-based treatments could well herald the dawning of 'individualized medicines' from the cannabis plant by re-establishing balance in each individual patient's endocannabinoid system. Sensory neurons contain multiple members of the Transient Receptor Potential (TRP) ion channel family, where they detect pain, inflammation, stress, and noxious environmental signals and relay these signals through activation/de-activation of calcium, sodium, and magnesium ion gradients across cellular membranes. By studying the responses of cannabinoids and terpenoids both individually and in combinations at the level of individual receptors, GB Sciences has discovered reversible mechanisms that make personalized, precision medicines possible. "Manipulating the TRP channels in sensory neurons could provide much-needed relief for patients who are suffering from chronic pain, asthma, urinary cystitis, or hearing loss," explains Dr. Andrea Small-Howard, Chief Science Officer of GB Sciences. "The ability to use specific combinations of cannabinoids and terpenoids to modulate TRP ion channels in sensory neurons could usher in the beginning of a new era of precision medicines derived from the cannabis plant."
Isodiol International Inc. (OTCQB: ISOLF) is the market leader in pharmaceutical grade phytochemical compounds and the industry leader in the manufacturing and development of consumer products. Isodiol applauded the FDA's decision on the long-anticipated approval of GW Pharmaceutical's Epidiolex for the treatment of seizures associated with two forms of epilepsy. The Company believes the FDA's decision adds value to its Approved Pharmaceutical Ingredient (API) for finished pharmaceutical products. Much like GWPH's product that went through this extensive approval process, Isodiol can supply those interested in developing finished pharmaceutical products or conducting clinical research studies with Cannabidiol CBD the option to utilize Isodiol's API to save time and money. "Fundamentally, the approval of Epidiolex will have no legal impact on the sale of hemp-derived CBD for consumer goods. The fact that the FDA has stated that they will focus on proliferation and illegal marketing of unapproved CBD-containing products with unproven medical claims is welcomed by Isodiol," stated Marcos Agramont, Isodiol International, Inc., CEO.
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
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.
For further information:
Media Contact: firstname.lastname@example.org , +1-877-601-1879