Medical Cannabis Sales are Projected to Rise on a Global Level
NEW YORK, June 1, 2018 /PRNewswire/ -- According to a research report published by Oristep Consulting, the global medical cannabis market in 2016 was valued at USD 12.67 billion and will reach USD 33.41 billion by 2022 at a CAGR of 17.53% during the forecasted period. Scientific studies of the cannabinoid chemical have already resulted in two FDA-approved medications in a pill form. The two main cannabinoids are THC and CBD, which are known to be used for medical purposes as treatments for numerous conditions such as multiple sclerosis, arthritis, epilepsy, glaucoma, HIV, chronic pain, Alzheimer's, cancer and others. The report also indicates that North America leads the market holding nearly half of the market share in 2016. Snipp Interactive Inc. (OTC: SNIPF), PotNetwork Holdings, Inc. (OTC: POTN), InMed Pharmaceuticals Inc. (OTC: IMLFF), Namaste Technologies Inc. (OTC: NXTTF), Kaya Holdings, Inc. (OTC: KAYS).
In a report by Benzinga, Viridian Capital President Scott Greiper points out that the cannabis market received $1.23 billion investments in the first five weeks of 2018, up from $178 million a year earlier. Viridian Capital Advisors' Vice President Harrison Phillips explained: "Investments in cultivation and retail this year have been driven predominantly by the Canadian player. This has been happening pretty consistently from late 2016 through 2017. This reflects the necessity to scale cannabis businesses, to get some kind of advantage, and to explore strategic opportunities, both through acquisitions and international expansion."
Snipp Interactive Inc. (OTCQB: SNIPF) is also listed on the TSX Venture Exchange under the ticker (TSX-V: SPN). Last week the company announced breaking news that it has signed a Master Services Agreement ("MSA") with CLS HOLDINGS USA, ("CLS") (OTCQB:CLSH), who is in the process of finalizing its purchase of Oasis Cannabis a 'seed to sale' company focusing on Cultivation, Production and Dispensaries. CLS showed interest in the Company's solutions by signing up on its recently launched Cannabis Marketing Resource Center ("CMRC").
In addition, CLS is the developer of a proprietary patent-pending extraction and conversion methodology that has potential to increase yield and quality of cannabinoid oils extracted from cannabis plants. CLS is in the process of expanding its business strategy to include cultivation, production, and retail dispensaries, and is currently in the process of acquiring Oasis Cannabis, a Las Vegas based vertically integrated cannabis company. To learn more visit https://www.clsholdingsinc.com
Snipp will, pursuant to the MSA, implement a customer loyalty management platform covering all CLS locations across Snipp's SnippCheck, SnippRewards and SnippLoyalty platforms. Snipp will leverage the accumulated knowledge and deep expertise it has acquired in designing and launching marketing programs in other highly regulated industries like Pharma, Alcohol and Tobacco to help CLS run effective and legally compliant promotion and loyalty programs to meet their marketing objectives.
"We have explored a number of loyalty platforms and after extensive review and consultation with Snipp have concluded that Snipp's robust and highly flexible platform allows us to deploy a system that we can leverage as we grow the CLS platform," said Jeff Binder, CEO of CLS.
"We are energized by the interest received in our platform and expertise by entities in the cannabis industry. Clearly there is a need that is currently unmet for flexible marketing solutions that can be leveraged across the industry ecosystem and we hope to be the go to resource that fills that need. CLS is a great example of a forward looking company that intends to run a vertically integrated business that is already thinking through the finer points of their future business and operating model," said Atul Sabharwal, CEO of Snipp."
PotNetwork Holdings, Inc. (OTC: POTN) is a publicly traded company that acts as a holding company for its subsidiaries, First Capital Venture Co., the owner of Diamond CBD, Inc., the maker of Diamond CBD oils. On May 31, 2018, Diamond CBD, Inc. announced the rapid expansion of its MediPets product line, a top quality wide spectrum of healthy dietary treats for pets, formulated to support the health and wellness of cats and dogs everywhere. In addition to organically grown hemp-based CBD, these pet treats contain a variety of other nutritious ingredients, blended to appeal to, and improve, a cat's or dog's quality of life. Having an endocannabinoid system very similar to that of humans, animals also have cannabinoid receptors throughout their bodies. Whether a pet is healthy or suffering from ailment, Diamond CBD pet treats are formulated to contribute to help optimize canine or feline health. Diamond CBD, Inc., recently spent a highly advantageous week at the 2018 Global Pet Expo in Orlando, Florida, where it garnered interest from over 200 wholesale distributors well positioned to carry the brand's groundbreaking MediPets product line.
InMed Pharmaceuticals Inc. (OTCQX: IMLFF) is a pre-clinical stage biopharmaceutical company that specializes in developing novel therapies through the research and development into the extensive pharmacology of cannabinoids coupled with innovative drug delivery systems. On May 14, 2018, the company announced it has filed a Patent Cooperation Treaty application for INM-085 as a cannabinoid-based topical therapy for glaucoma, which includes protection of its technology in about 150 different countries including the United States, and claims a priority date from May 8, 2018 (PCT/CA2018/050548). The PCT filing, which is a conversion from the provisional patent filed in May, 2017, is an important step in providing intellectual and commercial protection for this therapy.
Namaste Technologies Inc. (OTCQB: NXTTF) is a global leader in the sale of medical cannabis consumption devices. Namaste has nine offices with multiple distribution centers around the globe and operates over 30 websites under various brands. Recently, the company announced that the Company has signed an exclusive international distribution agreement with Shatterizer Inc., whereby Namaste will retain exclusive rights to sell Shatterizer's innovative line of cannabis concentrate vaporizers in international markets. Namaste is also announced that it will be working with Shatterizer to launch a pod-based vaporizer system for the Canadian recreational market. The Company, through its wholly-owned subsidiary Infinite Labz Inc., will produce cannabis oil and provide filling and distribution for Shatterizer's upcoming pod-based concentrate vaporizer system. Namaste is focused on leveraging its expertise in vaporizer technology within Canada, in an attempt to capitalize on what it anticipates being a significant market for concentrate pens and pre-filled cartridges in both the recreational and medical cannabis markets.
Kaya Holdings, Inc. (OTCQB: KAYS) on April 30th announced that it has joined a committee organized by Oregon State Agency officials which includes opioids crisis experts, academics, licensed marijuana industry experts and leading industry participants to explore ways to implement a Cannabis-Opioid Relief Program in Oregon. "We are extremely grateful to have been invited to participate in this dialogue and are proud of the role we played in assisting in getting the discussion started," stated Craig Frank, CEO of Kaya Holdings. "We remain committed to assisting in developing and launching this program so that people can consider replacing their dangerous opioid medications with equally effective cannabis. While we are excited to brand the program in our image for our stores, we very much welcome other cannabis retailers to join us under their own banner and to be part of a much larger initiative."
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Company Codes: OTC-BB:SNIPF, OTC-BB:POTN, OTC-BB:IMLFF, OTC-BB:NXTTF, OTC-BB:KAYS, TorontoVE:SPN