According to data compiled by Mordor Intelligence, the global cannabis market was valued at USD 7.7 Billion in 2016 and is expected to reach USD 65 Billion by 2023 while growing at a CAGR of 37% during the forecasted period.
| NEW YORK, /PRNewswire/ -- According to data compiled by Mordor Intelligence, the global cannabis market was valued at USD 7.7 Billion in 2016 and is expected to reach USD 65 Billion by 2023 while growing at a CAGR of 37% during the forecasted period. The growth is attributable to the spread of global legalization beginning to take place for medical reasons as well as recreational use. Currently, North America accounts for 95% of the market, while the U.S. makes up more than 90% of the North American region. However, only select states in the U.S. have legalized cannabis for both medical and recreational use, such as California, Nevada, Colorado, Washington and a few others. Canada and Uruguay are the only two countries to have passed bills to legalize cannabis nationwide. Impending market regions include European countries such as Spain, Netherlands and Italy, who are expected to legalize cannabis for medical use in the shortcoming future. AmeriCann, Inc. (OTC: ACAN), CannaRoyalty Corp. (OTC: CNNRF), Organigram Holdings Inc. (OTC: OGRMF), General Cannabis Corp. (OTC: CANN), Zynerba Pharmaceuticals, Inc. (NASDAQ: ZYNE) Many companies involved in the cannabis market are focusing on standardizing their products, as well as receiving intellectual property rights for them. Other companies are conducting cannabis research, which is projected to impact the market heavily. Positive results from Canadian cannabis companies have allowed them to secure agreements and licensing contracts across Canada and are now beginning to spread internationally. Although not yet fully legalized, the U.S. is poised to continue to dominate the global cannabis market, which has prompted multinational companies to enter the fray. “We are sitting back now and watching the Canadians take market share with regards to international export opportunity,” says Matt Karnes, Founder of industry analyst firm GreenWave Advisors. “And multinational companies that are stepping in, or potentially want to step in, are all eyeing Canada, whereas I believe the United States clearly has the most robust and compelling opportunity for cannabis.” AmeriCann, Inc. (OTCQB: ACAN) recently announced breaking cannabis news that, “AmeriCann to Host Ground Breaking Celebration for the Massachusetts Medical Cannabis Center on Tuesday, September 25, an agricultural-technology company that is developing the next generation of eco-friendly start-of-the-art greenhouse cannabis cultivation and processing properties, plans to host a ground breaking celebration for its Massachusetts Medical Cannabis Center (MMCC) on Tuesday, September 25. AmeriCann designed the MMCC on a 52-acre parcel located in Freetown, Mass. The project allows for 987,000 sq. ft. of cannabis cultivation and processing infrastructure and will be developed in three phases. The ground breaking event will celebrate the first phase of the MMCC construction which will be a 30,000 sq. ft. cannabis cultivation, processing and research facility. AmeriCann plans to complete the first phase of the MMCC by the spring of 2019. Campanelli Construction is the general contractor and CBRE/New England is the project manager for the MMCC. The first phase of the MMCC project consists of 30,000 sq. ft. of cultivation, processing and research facilities. ‘We believe the first of phase will set new standards for the industry and have a big impact for the company moving forward,’ stated AmeriCann Founder Ben Barton. ‘The ground breaking signifies the first step in creating a sustainable process to produce clean, quality cannabis.’ AmeriCann uses greenhouse technology, which is superior to the current industry standard of growing cannabis in warehouse facilities under artificial lights. According to industry experts, by capturing natural sunlight, greenhouses use 25 percent fewer light bulbs, and utility bills are up to 75 percent less than in typical warehouse cultivation facilities. As such, AmeriCann’s Cannopy System enables cannabis to be produced with a greatly reduced carbon footprint, making the final product less expensive. Additionally, greenhouse construction costs are nearly half of warehouse construction costs. The MMCC will be built to maximize workflow and take advantage of growing plants under natural sunlight which the Company believes produces healthier plants from both cannabinoid and terpene perspectives, making the final product higher in quality. ‘Currently, almost all the cannabis being produced in Massachusetts is from converted warehouses with 100 percent artificial light, high energy costs and huge carbon footprints,’ said Tim Keogh, AmeriCann’s Chief Executive Officer. ‘The MMCC facility is designed to produce superior sun grown cannabis products year-round in a controlled environment at a lower cost. This is the first phase of an extensive project designed to help the Massachusetts cannabis industry reach its full potential.’ AmeriCann assists partners to obtain licenses and cultivate medicine in its next generation of eco-friendly state-of-the-art cannabis cultivation facilities and provides essential resources including access to a team of experts, and capital, which has been traditionally hard to obtain for cannabis companies. The first publicly traded Certified B Corp in the cannabis industry, AmeriCann has proven its commitment to sustainable, clean cultivation of medical cannabis. About Massachusetts Medical Cannabis Center - In 2015, AmeriCann realized that Massachusetts did not have adequate cultivation and processing infrastructure in planning or development. With that knowledge, AmeriCann designed the MMCC on a 52-acre parcel of land by securing site plan approval and all the entitlements for 987,000 square feet of cannabis cultivation and processing infrastructure. The MMCC project will be developed in phases and is expected to be one of the most technologically advanced cultivation facilities in the nation. The state-of-the-art, sustainable greenhouse project will consist of multiple planned phases for multiple tenants in the Massachusetts cannabis industry. Voters in Massachusetts approved legalizing the adult use of recreational marijuana in November of 2016 making Massachusettsthe first state in the Northeast to legalize adult-use cannabis. AmeriCann’sCannopy System uniquely combines expertise from traditional horticulture, lean manufacturing, regulatory compliance and cannabis cultivation to create superior facilities and procedures. The Company is planning to replicate the Cannopy platform in additional states. About AmeriCann is a publicly traded agricultural technology (Ag-Tech) company that is developing a new generation of sustainable, state-of-the-art medical cannabis cultivation and processing properties. AmeriCann, Inc. is a Certified B Corp, an acknowledgment of the Company’s commitment to social and environmental ethics, transparency and accountability. AmeriCann became the first public cannabis company to earn this respected accreditation. More information about the Company is available at: http://www.americann.co” CannaRoyalty Corp. (OTCQX: CNNRF) is a North American cannabis consumer product company currently focused on building a leading distribution business in California, the world’s largest regulated cannabis market. CannaRoyalty Corp. and its subsidiary, Trichome Financial Corp., recently announced that the Company has signed a binding term sheet to acquire 100% of investee 180 Smoke and its affiliates for total consideration of USD 25 Million, as well as an additional USD 15 Million upon the completion of certain milestones. Afzal Hasan, President and General Counsel, at CannaRoyalty, commented, “180 Smoke is the Canadian cornerstone of the home we have been building to originate the global cannabis brands of the future. Our platform emanates from California, where we have fostered the growth of almost 50 cannabis brands as a manufacturer and distributor into over 450 dispensaries. Customer satisfaction and attachment are the primary determinants of success in a consumer brands business and cannabis is no exception. Looking at the Canadian market and the lack of compelling consumer offerings on the horizon even a year out, we view 180 Smoke as one of the few companies who is doing it ‘right’. As a management team, we are drawn to business models that can be rapidly and profitably scaled with the addition of each new customer, brand and dollar of capital, and 180 Smoke fits this formula.” Organigram Holdings Inc. (OTCQX: OGRMF) is a TSX Venture Exchange listed company whose wholly owned subsidiary, Organigram Inc., is a licensed producer of cannabis and cannabis-derived products in Canada. The Company recently unveiled Trailblazer, the newest addition to their portfolio of products ready for the launch of the adult use recreational cannabis market in Canada. Trailblazer complements Organigram’s premium and organic product offerings. The new product, currently planned to be sold at a slight discount to mainstream-priced products across Canada, will be available in milled and pre-rolled varieties and will provide a breadth of low, mid and higher THC products. The brand’s signature Prohibition Blend is a hybrid offering developed using an optimal blend of Acadia, one of the Company’s best-selling Sativa strains, and Critical Kush, one of the longest-standing Indica strains in the Company’s robust genetic library. Trailblazer was developed in rapid response to ongoing discussions with Organigram’s jurisdictional and retail partners across Canada and their focus on offering high-value offerings. “Our brand strategy is creative and thoughtful, based on a concerted effort to wholly understand our current and future customers,” explains Ray Gracewood, Chief Commercial Officer, Organigram. General Cannabis Corp. (OTCQX: CANN) is the comprehensive national resource for the highest-quality service providers available to the regulated cannabis industry. As the legal cannabis industry grows throughout the United States, the industry’s leading service provider, General Cannabis Corp. recently announced it is expanding its presence on the East Coast with the opening of a New York office. The New York office provides General Cannabis a strategic location to better serve existing East Coast clients while also attracting new talent and partnerships as the cannabis market in the eastern U.S. continues to develop. Further, the opening of the New York office provides a hub for current clients looking for East Coast expansion opportunities. “Given our growing list of East Coast clients and the steps that states like Massachusetts and New Jersey have taken toward launching adult-use sales, this is the ideal time for General Cannabis to further invest and establish itself in the region,” said Michael Feinsod, Executive Chairman of the Board for General Cannabis. “The growth potential for the market in this region is unparalleled. An East Coast office is perfectly suited to cater to this territory as General Cannabis continues to expand its presence nationwide. We plan on expanding our security, operations and marketing segments aggressively throughout the East Coast. In addition, we will be utilizing this office to expand and enhance our corporate, marketing and mergers and acquisitions teams.” Zynerba Pharmaceuticals, Inc. (NASDAQ: ZYNE) is the leader in pharmaceutically-produced transdermal cannabinoid therapies for rare and near-rare neuropsychiatric disorders. Zynerba Pharmaceuticals, Inc. recently announced the initiation of a multi-national, randomized, double-blind placebo controlled Clinical study of cannabidiol (CBD) in Children and Adolescents with Fragile X (CONNECT-FX). The CONNECT-FX trial will evaluate the efficacy and safety of ZYN002 (CBD Gel) in children ages three to 17 with full mutation Fragile X syndrome (FXS). FXS is a genetic condition that causes intellectual disability, behavioral and learning challenges and is the most common known single-gene cause of autism spectrum disorder. Top-line results are expected in the second half of 2019. “We are excited to initiate CONNECT-FX, the first-of-its-kind clinical study evaluating transdermally-delivered ZYN002 as a treatment for the debilitating behaviors associated with Fragile X syndrome,” said Armando Anido, Chairman and Chief Executive Officer of Zynerba. “We look forward to demonstrating the clinical effects of ZYN002 in treating some of the most common behavioral symptoms of Fragile X syndrome. If successful, ZYN002 has the potential to become the first product indicated for the treatment of behavioral symptoms of Fragile X syndrome and help address the ongoing needs of the children and families impacted by this syndrome.” Subscribe Now! Watch us report LIVE https://www.youtube.com/FinancialBuzzMedia 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 AmeriCann Inc. financial and corporate news dissemination, FinancialBuzz.com has been compensated five thousand dollars by axiom group. 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. Media Contact: URL: http://www.FinancialBuzz.com
SOURCE FinancialBuzz.com | ||
Company Codes: OTC-BB:ACAN, OTC-BB:CNNRF, OTC-BB:OGRMF, OTC-BB:CANN, NASDAQ-NMS:ZYNE |
