According to data published by Arcview Market Research, in partnership with BDS Analytics, the total economic output from legal cannabis will grow 150% from USD 16 Billion in 2017 to USD 40 Billion by 2021.
NEW YORK, June 8, 2018 /PRNewswire/ -- According to data published by Arcview Market Research, in partnership with BDS Analytics, the total economic output from legal cannabis will grow 150% from USD 16 Billion in 2017 to USD 40 Billion by 2021. The report also examined the economic multiplier effects which will generate USD 39.6 Billion in overall economic impact on the USD 20.8 Billion US consumer spending on legal cannabis in 2021. Additionally, it will create 414,000 jobs, and more than USD 4 Billion in tax receipts. 2016 was a crucial year for the legal cannabis market, where the true potential had begun to reveal itself. Conservative estimates show more than USD 1 Billion dollars in wholesale, excise, and cannabis-specific sales taxes were taken into State treasuries during that year. That number is forecast to grow to nearly USD 2.8 Billion by 2021. Crop Infrastructure Corp. (OTC: CRXPF), Maple Leaf Green World, Inc. (OTC: MGWFF), Global Hemp Group Inc (OTC: GBHPF) , Abattis Bioceuticals Corp. (OTC: ATTBF), MassRoots, Inc. (OTC: MSRT)
Troy Dayton, CEO of The Arcview Group explained, “The economic excitement around the legal cannabis industry is no longer just theory. Due to the giant impact adult-use legalization is already having in the United States, it’s vital for key stakeholders to understand the full impact of legalization, beyond just retail sales numbers.”
Crop Infrastructure Corp. (OTC: CRXPF) also listed on the Canadian Securities Exchange under the Ticker (CSE: CROP). Earlier this week the company announced breaking news that it, “has entered into a licensing agreement for four established cannabis brands that are currently being sold in Washington and will be available in California shortly:
- Hempire; - Evolution Cannabis; - Tiffany CBD; - Trikom.
Crop will be sublicensing these established brands to its tenant growers in California and Washington.
Furthermore, Crop has acquired 10 additional brands for licensing to its tenant growers as follows:
- Prohibition Greens; - Players Greens; - White Rhino Cannabis; - Illuminati Cannabis; - Diablo Herbs; - Gator Ganja; - Makavelli Cannabis; - Honey Badger Buds; - Choices Cannabis; - CHE Cannabis.
Crop Infrastructure director and chief executive officer Michael Yorke stated: “As the cannabis market grows and matures, consumers will choose brands that they trust to provide superior quality. Having unique and established brands that we will be able to license in Washington, California, other states and globally will be another benefit that Crop will be able to provide to its tenant growers.”
Maple Leaf Green World, Inc. (OTCQB: MGWFF) is a public Canadian company that focuses on the cannabis industry in North America. The Company currently operates cannabis projects in British Columbia and Nevada. With over ten years of extensive greenhouse management experience, the Company applies its eco-agriculture knowledge and cultivation technology to produce contaminant-free organic cannabis products. Maple Leaf recently announced that it has entered into an engagement letter with Emerging Equities Inc. with respect to a proposed brokered private placement financing for gross proceeds of a minimum of $1,000,000 and a maximum of $20,000,000. The Offering will consist of units of the Company at an offering price of $0.65 per Unit. Each Unit will be comprised of one common share in the capital of the Company and one Common Share purchase warrant. Each whole Warrant will entitle the holder to acquire one Common Share at an exercise price of $1.00 up until and including May 1, 2020. The Company intends to use the first $10,000,000 of the net proceeds of the Offering, as applicable, to advance its engineering and construction plans for its cannabis cultivation facilities in Telkwa, British Columbia and Henderson, Nevada.
Global Hemp Group Inc (OTC: GBHPF) is headquartered in Vancouver, British Columbia, Canada, with base operations in Montreal and Los Angeles. The Company is focused on a multi-phased strategy to build a strong presence in the industrial hemp industry in both Canada and the United States. The company recently announced that it has acquired a 50% equity interest in Cash Crop Today Media, LLC, a global media company focused on the industrial hemp and cannabis sectors. Cash Crop Today Media is a global media, branding, and technology company that is focused on reporting the latest industry news related to investment information, entrepreneurship, politics, and technology from the industrial hemp and cannabis sectors. CCT offers an array of business to business and consumer marketing services such as digital media placement and advertising, curated video content development, management of social media campaigns, and regional, national, and international distribution. There is a clear demand for investment information distribution focused on the rapidly emerging hemp and cannabis industries, but there are few portals that retail and institutional investors can consistently count on for breaking news and valuable investment information on these industries.
Abattis Bioceuticals Corp. (OTC: ATTBF) is a life sciences and biotechnology company which aggregates, integrates, and invests in cannabis technologies and biotechnology services for the legal cannabis industry developing in Canada. Abattis recently announced it has entered into a non-binding letter of intent with Cannamedix Inc. to provide Cannamedix with, among other things, pesticide-free cannabinoid-containing oils, research and development, analytical and regulatory services and access to Abattis’s distribution and marketing channels to support the development and commercialization of new CBD-infused nutraceuticals and natural health products. “Abattis is pleased to support Cannamedix’s efforts to develop and distribute what could be one of the first lines of cannabinoid-infused nutraceuticals and natural health products in Canada”, stated Rob Abenante, President and CEO of Abattis. Pursuant to the LOI, Abattis and Cannamedix have agreed to negotiate in good faith the terms of a definitive agreement respecting the terms of their partnership.
MassRoots, Inc. (OTCQB: MSRT) is one of the leading technology platforms for the regulated cannabis industry. Powered by more than one million registered users, the Company’s mobile apps empower consumers to make educated cannabis purchasing decisions through community-driven reviews. MassRoots Recently reaffirmed its long-standing policy to list only state-licensed dispensaries on its platform. “We believe that operating in full compliance with state cannabis regulations is crucial to creating long-term, sustainable shareholder value and building confidence with consumers as well as local, state and federal regulatory organizations,” stated MassRoots Chief Executive Officer, Mr. Isaac Dietrich. “Other services that continue to drive traffic to unlicensed dispensaries are punishing businesses that have invested significant time and resources to gain compliance with state regulations. We view this as an opportunity to build long-term relationships with compliant dispensaries that we believe are the future of the cannabis industry,” he added. In the coming weeks, MassRoots is expected to introduce its revamped business portal and dispensary finder. ArcView Market Research estimates there are roughly 1,700 dispensary locations in the United States currently, growing to around 2,500 over the next 18 months.
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