The Medical Cannabis Market is Set to Expand as North American Continues to Grow
NEW YORK, November 5, 2018 /PRNewswire/ -- According to data compiled by Global Market Insights, the U.S. medical cannabis market is expected to grow from over USD 3.5 Billion to surpass USD 8.0 Billion by 2024. Cannabis for medical purposes is now legal in 31 states and medical cannabis has been increasingly used in the treatment of a range of conditions such as neurology, cancer, HIV/AIDS, seizures, muscle spasms, and nausea. Based on application, the U.S. medical cannabis pain management market was valued at USD 2.69 Billion in 2017, accounting for around 75% share of the total cannabis application market. The medical cannabis market for skin-related conditions is expected to witness an annual rate of 13.7% as it offers a better treatment option than other steroid creams. Micron Waste Technologies Inc. (OTC: MICWF), Terra Tech Corp. (OTC: TRTC), The Supreme Cannabis Company (OTC: SPRWF), Leafbuyer Technologies, Inc. (OTC: LBUY), Invictus MD Strategies Corp. (OTC: IVITF)
Support for legalizing cannabis in the U.S. continues to grow. According to data from a recent Gallup poll, 66% of Americans now support legalizing cannabis, hitting a new high over nearly half a century. Back in 1969, support for cannabis legalization was only at 12%. According to Leafly, Steve Hawkins, Executive Director for the Marijuana Policy Project; "A growing majority of Americans are ready to end the failed policy of marijuana prohibition and move on… They see states regulating marijuana for medical and adult use, and they recognize it is a much more effective approach."
Micron Waste Technologies Inc. (OTC: MICWF) is also listed on the Canadian Securities Exchange under the ticker (CSE: MWM). Just earlier today the company announced breaking news that, "announce the hiring and promotion of key management staff to build capabilities in business development, engineering and corporate relations.
Business Development - Micron is pleased to announce Surj Uppal has joined the Company as Vice President, Business Development. Mr. Uppal brings over 20 years of experience as a marketing and demand generation professional with some of Canada's top employers including Save-On-Foods, McDonald's Canada, the BC Lottery Corporation and the Jim Pattison Auto Group, leveraging growth, rejuvenation and optimization strategies depending on the business need. Mr. Uppal brings his proven leadership in the Grocery, Quick Service Restaurant (QSR) Food Service, Gaming and Automotive industries to help guide the Micron's growth. Mr. Uppal was previously the Director of Marketing for the 23-dealership, 12-brand Jim Pattison Auto Group. Prior, he was Regional Marketing Manager, Western Canada, for McDonald's, as well as holding senior positions in the grocery and gaming industries.
"Micron is pleased to welcome Surj to the team at this key moment in the Company's development, as we pivot to commercial production of our cannabis and food waste processing systems," said Micron President Alfred Wong. "He brings proven leadership in building business relationships which support sales, marketing and strategic partnerships. We also welcome his expertise in the grocery and QSR industries, which are both key markets for Micron."
Engineering - Micron is also pleased to announce Ziba Hajizadeh, P.Eng, has been promoted to Vice President, Engineering from Lead Process Engineer. Ms. Hajizadeh is a professional chemical engineer specializing in wastewater process design. She has extensive experience in multiple industries, including water treatment, beverage, oil and gas, and pulp and paper. Prior to joining Micron, Ms. Hajizadeh was a Production Engineer II at Linde North Americas in New Jersey, where she was a process and production engineer in charge of beverage grade CO2 and USP grade product for a global beverage company. While at Micron, she has focused on development of the Cannavore™ cannabis waste treatment system.
"Ziba has been instrumental in bringing the Cannavore™ from concept to commercial-stage," said Dr. Bob Bhushan, Micron's Co-Founder and Chief Technology Officer. "Her leadership capabilities and depth and breadth of industry expertise will serve the company well as we explore unmet waste processing needs in industries such as food and beverage, oil and gas, and pulp and paper."
Corporate - Karen Lauriston has been promoted to Vice President, Corporate, overseeing communications and investor, community and government relations. Ms. Lauriston began her career as a reporter for the Ottawa Citizen and Winnipeg Free Press. She served as Legislative Assistant to the Hon. Dr. Rey Pagtakhan, M.P. at the House of Commons, and was Manager of Communications and Acting-Director, Government and Public Affairs, for the Canadian Pharmacists Association. She was Account Supervisor for the Toronto office of Fleishman-Hillard Inc. before becoming a partner in Health Strategy Group, a health care management consultancy.
"Karen's experience and skills have been a valuable asset in the articulation of Micron's vision," said Mr. Wong. "Across a wide variety of audiences, she has enabled us to communicate the benefits of our innovative, clean technology. In her expanded role, she'll continue to provide support for our teams as we enter commercialization, expand our R&D capabilities and increase shareholder value."
Micron Waste Overview - Micron's food and cannabis waste treatment systems are industrial-grade organic waste processers which pulverize and render organic waste in combination with a proprietary blend of microbes and enzymes designed and developed by Micron. Importantly, as part of Micron's full-system waste treatment platform, effluent from the systems is further treated to derive clean greywater which can be reused in industrial or agricultural operation. Alternatively, the treated regulatory-compliant greywater, which meets municipal discharge standards, can be safely discharged. Active Pharmaceutical Compounds (APIs) in cannabis waste are further biologically treat to denature cannabinoids present, keeping them out of watersheds where they can bio-accumulate.
Micron's waste management systems also use advanced computer science for remote real-time diagnostics monitoring and control. The comprehensive systems have been engineered to operate on-site where needed in a contained unit which does not emit sound or smell, while exempting customers from the need to truck, incinerate or landfill methane-producing waste.
Micron's Cannavore™ waste system was engineered based on proven technology used by the Company in its food waste digester unit, which can be used for large-scale food waste processing by municipalities, Quick Service Restaurants (QSRs) and supermarkets. The Cannavore's design and development resulted from a collaboration with Aurora Cannabis Inc. (TSE:ACB) to develop a clean technology solution to process waste generated from the cultivation of cannabis.
Micron's Cannavore Digester and Organic Waste Digester units has been awarded an Industrial Design Certificate of Registration from the Canadian Intellectual Property Office (CIPO), with patent pending in the United States.
About Micron Waste Technologies Inc. - Micron Waste Technologies Inc is a well-funded technology company with over $6 million in working capital. The Company's organic waste management system processes organic waste directly on-site and treats the resulting waste water into clean water which meets municipal sewage discharge standards. The treated water can be discharged directly into the sewer or recycled back into industrial or agricultural operations. The Company has developed the world's first cannabis waste management system which denatures APIs from waste streams. Please visit our website at http://www.micronwaste.com for further information. Micron is a public company with listings on the CSE: MWM, OTC: MICWF, and in Frankfurt: 7FM2. For more information, visit http://www.micronwaste.com ."
Terra Tech Corp. (OTCQX: TRTC) operates through multiple subsidiary businesses including: Blüm, IVXX Inc., Edible Garden, and MediFarm LLC. Terra Tech Corp. recently announced that it has made a USD 5 Million investment in Hydrofarm Holdings Group, Inc. Hydrofarm was founded in 1977 and is based in Petaluma, California with ~300 employees globally. It is one of the leading independent providers of hydroponics products in North America and recorded over USD 250 Million in revenues in 2017. Through this funding round Hydrofarm has raised a total of USD 55 Million, of which Terra Tech contributed USD 5 Million. The capital will be used by Hydrofarm to expand market share as end-market demand increases as a result of adult-use cannabis legalization efforts led by California and Canada and the continued expansion of cannabis for medicinal purposes. "This investment provides our shareholders with access to, what we believe, is the largest independent hydroponic growing equipment and supply distributor in the U.S.," Derek Peterson, Chief Executive Officer of Terra Tech, stated. "Hydrofarm has a stable business model and generates significant revenues from its broad customer base, which covers 1,500+ retailers. The hydroponics equipment and supplies industry is growing rapidly and we believe that Hydrofarm holds significant upside potential. As a result of the capital injection, it is well-positioned to expand its leading position both in the U.S. and Canada through both organic growth initiatives and its M&A strategy. Moreover, this strategic investment in a leading provider of hydroponics equipment provides synergistic benefits to Terra Tech and is expected to enable us to improve our supply chain and bring down our capital equipment costs."
The Supreme Cannabis Company (OTCQX: SPRWF) is a Canadian publicly traded company committed to providing premium brands and products that proudly reflect its consumers, people and uniquely innovative culture. The Supreme Cannabis Company, Inc. recently announced that 7ACRES branded High-End Cannabis™ is available exclusively through Canada's provincially regulated adult-use channels. More information about 7ACRES and its products can be found at 7ACRES.com. "7ACRES flower is focused on pleasing three primary senses: aroma, visual appeal and flavour. Through an intensive phenotype selection-process, we selected our four core strains to maximize the objective and subjective quality across these three categories. Each strain provides a unique aromatic bouquet and visual presentation focused on pleasing the discerning palate of the cannabis enthusiast," said Omer Azeez, Vice President Marketing at Supreme Cannabis. "With coast-to-coast distribution, 7ACRES' High-End Cannabis™ is now a well-known brand of premium flower. As the consumer market continues to mature, we look forward to becoming an integral part of Canada's social rituals for authentic cannabis consumption."
Leafbuyer Technologies, Inc. (OTCQB: LBUY) is one of the most comprehensive online sources for cannabis deals, menus, SMS Loyalty and information. Leafbuyer Technologies, Inc. recently announced the implementation of its own, enterprise-level loyalty platform called "Leafbuyer Loyalty." The program will eventually fully integrate with the Company's much-anticipated blockchain and order-ahead initiatives. Leafbuyer Loyalty was built and designed with the latest texting and loyalty trends in mind. What really sets Leafbuyer's Loyalty apart from all other SMS platforms, is the ability for consumers to sign up directly through the Leafbuyer Network. Combining the reach of the Leafbuyer Network, which reaches millions of cannabis consumers monthly, with the latest in SMS/loyalty, Leafbuyer clients can work with one company to attract new patrons while retaining their current client base. "By rolling out our own loyalty platform, we will have more control to develop and adapt to the ever-changing needs of our customers," said Mark Breen, Director and Chief Operating Officer of Leafbuyer. "Up to this point, we've worked through a third-party revenue sharing agreement to provide texting/loyalty. With the launch of our new system, we will save these expenditures and add to our bottom line," added Breen.
Invictus MD Strategies Corp. (OTCQX: IVITF) is a global cannabis company offering a selection of products under a wide range of lifestyle brands. Invictus recently announced that it has entered into a definitive agreement to acquire 100% of the issued and outstanding shares of a company ("Leaf Wise") that operates medical clinics in Alberta. Leaf Wise employs a patient-first business model that features on-site physicians, educational guides and registration support in just four easy steps. With approximately 3,400 patients registered under Access to Cannabis for Medical Purposes Regulations ("ACMPR"), Leaf Wise will serve as a direct channel to Invictus owned Licensed Producers, fully licensed under ACMPR. "Over the past few months, we have experienced substantial growth in our medical distribution channels as more physicians and patients look to cannabis for treatment," said Dan Kriznic, Chairman and Chief Executive Officer of Invictus. "As the industry evolves, we will continue to support research that helps to advance patient care and provide a forum to facilitate and monitor ongoing treatment."
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Company Codes: OTC-BB:MICWF, OTC-BB:TRTC, OTC-BB:SPRWF, OTC-BB:LBUY, OTC-BB:IVITF, Tokyo:ACB