According to data provided by Mordor Intelligence, the global cannabis market was valued at USD 7.7 Billion in the year 2016 and is expected to reach USD 65 Billion by the year 2023, while maintaining a CAGR of 37% during the forecast period.
NEW YORK, September 18, 2018 /PRNewswire/ -- According to data provided by Mordor Intelligence, the global cannabis market was valued at USD 7.7 Billion in the year 2016 and is expected to reach USD 65 Billion by the year 2023, while maintaining a CAGR of 37% during the forecast period. The report also indicates that the growth rate is attributed to the legalization of cannabis in various countries, as well as to the increasing demand of cannabis products for medical and recreational purposes. North America accounts for more than 95% of the global market, with the U.S. alone making up more than 90% of the North American, as well as global market. Maricann Group Inc. (OTC: MRRCF), Emblem Corp. (OTC: EMMBF), The Supreme Cannabis Company, Inc. (OTC: SPRWF), Lexaria Bioscience Corp. (OTC: LXRP), India Globalization Capital, Inc. (NYSE: IGC)
Canada’s new laws, officially making cannabis products legal from earlier this June, are expected to create a pioneering business environment. A report by CBC, University of Waterloo entrepreneurship professor, Nada Basir, explained, “Where I think we’re going to see a lot of startup activity around this new legislation is in activities outside the traditional growth and transaction of the product... typically, historically, this is where we see innovation really happen because it becomes the survival of the fittest, and to survive you’re going to have to figure out how to scale, how you can be more efficient, how you can save costs.”
Maricann Group Inc. (OTCQB: MRRCF) is also listed on the Canadian Securities Exchange under the ticker (CSE: MARI). Yesterday, through its wholly-owned subsidiary Maricann Inc., the Company announced, “the launch of Kiwi - a straightforward, modern approach to cannabis and the first from the Company’s House of Brands - available to Canadian consumers of legal age on October 17, 2018.
Maricann is launching Kiwi as a brand designed to help Canadians learn and experience the product in a straightforward, simple and “jargon-free” way. Rather than launching with technical strains that might confuse new consumers, Kiwi will debut four variants that are easy to follow, regardless of background or expertise. Available in dried flower formats, Kiwi’s simple naming system consists of White Feather (High CBD), Hawke’s Bay (Balanced), Nelson’s Blue (Mid THC) and Flightless Bird (Mid-High THC), which are playful takes on Kiwi’s New Zealand-inspired name. Each strain will deliver reliable, consistent sensations that are easy to enjoy.”
‘We’re in the middle of a rapidly growing industry; one that has sparked a lot of curiosity among consumers. We’ve built Kiwi to streamline the information and clutter of products - so that cannabis is accessible to a wider public and Canadians can make smart, informed decisions on where we fit in their wellness routine and lifestyle,’ said Geoff Kosar, Vice President of Sales & Marketing. ‘At its core, Kiwi is a celebration of the simple pleasures, and that starts with simple, straightforward communications.’
Working as Kiwi’s Master Grower, industry veteran Jennifer Ayotte brings her exacting standards and dedication to delivering quality cannabis to Maricann’s state-of-the-art facilities in Langton, Ontario. ‘Cannabis can be simple, elegant and easy-to-understand,’ said Jennifer Ayotte, Kiwi Master Grower. ‘When the right measures are set in place for consistency, quality and safety, it’s easier to see that what we’re really talking about are plants.’
Visit kiwicannabis.ca for more information on how to simplify your self-care.
About Maricann Group Inc: Maricann is a vertically integrated producer and distributor of cannabis for medical purposes. The Company was founded in 2013 and is based in Burlington, Ontario, Canada and Munich, Germany, with production facilities in Langton, Ontario where it operates a medicinal cannabis cultivation, extraction, formulation and distribution business under federal licence from the Government of Canada. The Company also has production operations in Dresden, Saxony, Germany and Regensdorf, Switzerland. Maricann is currently undertaking an expansion of its cultivation and support facilities in Canada in a 942,000 sq. ft. (87,515 sq. m) and will continue to pursue new opportunities in Europe.”
Emblem Corp. (OTCQX: EMMBF) is a fully integrated licensed producer and distributor of medical cannabis and cannabis derivatives in Canada under the ACMPR. The Company and Natura Naturals Holdings Inc. announced the termination of their letter of intent as of 5 p.m. EST on September 13th, 2018. In addition, as previously announced, Emblem recently provided USD 2 Million of advanced funding to Natura for the expansion of its facility. The Funding is comprised of a one-year convertible debenture for an aggregate principal amount of up to USD 2 Million, with an interest rate similar to Natura’s other funding obligations and can be pre-paid at any time during the term. “Emblem looks forward to maintaining its strong business relationship with the Natura team as both a shareholder and in connection with our existing 3,000 kg supply agreement in the coming years,” said Nick Dean, CEO of Emblem Corp.
The Supreme Cannabis Company, Inc. (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 Company’s portfolio includes its wholly-owned subsidiary and flagship brand 7ACRES. The Supreme Cannabis Company recently announced that the Company’s wholly-owned subsidiary, 7ACRES, has entered into a supply agreement to provide dried cannabis to Tilray Canada Ltd., a subsidiary of Tilray Inc., a global leader in cannabis research, cultivation, processing and distribution currently serving tens of thousands of patients in 11 countries spanning 5 continents. The value of this initial supply agreement is estimated to be in excess of CAD 2 Million. Dried cannabis provided to Tilray by 7ACRES will be used primarily to support medical cannabis patients in Canada, including Tilray’s robust patient population.
Lexaria Bioscience Corp. (OTCQX: LXRP) has developed and out-licenses its disruptive delivery technology that promotes healthier ingestion methods, lower overall dosing and higher effectiveness of lipophilic active molecules. The Company recently announced strategic additions to its patent portfolio. Three new Australian patents were granted to Lexaria by the Australian Patent Office, bringing the Company’s worldwide patent portfolio to eight issued patents: four each in the US and Australia. All eight patents are within Lexaria’s first patent family, “Food and Beverage Compositions Infused With Lipophilic Active Agents and Methods of Use Thereof”, and significantly strengthen Lexaria’s intellectual property claims in the US and Australia. The Company is concurrently pursuing accelerated examination in Australia based on these US Notices of Allowance and expects two new Australian patents to also be issued prior to year-end 2018. If issued in both the US and Australia, the Company will then hold twelve issued patents within its first patent family and continues to pursue claims in corresponding pending applications within this first patent family around the world.
India Globalization Capital, Inc. (NYSE: IGC) has two lines of business, a legacy infrastructure business and a cannabis pharmaceutical business that has developed a lead product for treating Alzheimer’s patients. The Company recently announced that it has raised USD 1.0 Million in a private placement of restricted shares. The net proceeds from the offering are for marketing and working capital associated with the commercialization of Hyalolextm. 869,565 shares of newly issued unregistered common stock were sold at USD 1.15 per share. After fees and expenses, the net proceeds to IGC are approximately USD 1.0 Million. The net proceeds from the offering are for marketing and working capital associated with the commercialization of Hyalolextm. The sale is subject to customary closing conditions, including approval by the NYSE. “We are pleased to receive an investment from a strategic investor who shares IGC’s vision and confidence in commercializing our flagship product, Hyalolextm, and our ability to drive long-term shareholder value,” said Ram Mukunda, CEO of IGC.
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Company Codes: OTC-BB:MRRCF, OTC-BB:EMMBF, OTC-BB:SPRWF, OTC-BB:LXRP, AMEX:IGC
