According to a research report published by Technavio, the legal cannabis market is estimated to grow at a steady CAGR of about 24% until 2021.
NEW YORK, September 5, 2018 /PRNewswire/ -- According to a research report published by Technavio, the legal cannabis market is estimated to grow at a steady CAGR of about 24% until 2021. The increasing popularity of cannabidiol (CBD) oil products is one of the primary growth factors for the market. The research indicates that the growing impact of online retailers is expected to contribute significantly to the legal cannabis market. Additionally, the medical applications of CBD, and the growing awareness of them, is what makes this segment of the industry so important to its overall growth. Technavio’s analysis suggests that the demand for CBD oil is high in many different parts of the world because of its potential therapeutic applications for various illnesses. The CBD market is projected to grow at a CAGR of more than 39% by 2021. Tidal Royalty Corp. (OTC: TDRYF), InMed Pharmaceuticals, Inc. (OTC: IMLFF), Leafbuyer Technologies, Inc. (OTC: LBUY), United Cannabis Corporation (OTC: CNAB), Lifestyle Delivery Systems Inc. (OTC: LDSYF)
Another report from Deloitte suggests that cannabis consumers prefer to purchase cannabis products from legal channels. Jennifer Lee, Partner, Cannabis National Leader, and Consumer Advisory and Analytics Practice National Leader, said, “Most current and likely cannabis consumers want a variety of products offered at reasonable prices from suppliers who can vouch for the safety and origin of those products, Cannabis companies will need to have secure supply chains to protect the quality and integrity of their products, and retailers will need to meet consumer expectations, including providing a positive, engaging retailing experience and protecting the privacy of their customers, especially online.”
Tidal Royalty Corp. (OTC: TDRYF) is also listed on the Canadian Securities Exchange under the ticker (CSE: RLTY.U). Yesterday, the Company announced that it has, “signed a definitive agreement with Diem Cannabis to finance Diem’s expansion into Massachusetts.
Diem is an experienced licensed operator in the highly competitive Oregon market. The Company -- founded by executives with Silicon Valley and Wall Street experience -- has cultivation, retail and home delivery operations in Salem and Portland. Diem is known for its unique retail experiences that create safe, inviting environments for new and experienced consumers. Leafly -- the largest cannabis website in the world -- ranks Diem’s Salem retail location as one of the top dispensaries in Oregon, calling the store “downright beautiful” and “Instagram-worthy.”
‘We spent an incredible amount of time and effort in our diligence -- as we do for all of our deals -- and are more impressed than ever with the calibre of operators that we are backing,’ said Paul Rosen, Tidal Royalty’s Chief Executive Officer and Chairman. ‘Diem has large-scale ambitions and continues to build out the capabilities to realize them. We expect that they will be a major player in the U.S. cannabis industry.’
Pursuant to the agreement, Tidal Royalty will provide Diem up to USD 12.5-Million over the next three years to develop and operate a large-scale cultivation and processing facility and up to four dispensaries in Massachusetts. The Massachusetts adult-use marijuana market has the potential to be one of the most prosperous in the nation, according to Marijuana Business Daily.
‘We founded Diem upon a sincere belief in the beneficial properties of cannabis, both to individuals and to communities. With Tidal Royalty’s support, we are now able to expand our reach across the nation,’ said Chris Mitchem, Diem’s founder and chief executive officer. ‘The Tidal Royalty team has been incredibly responsive to helping us achieve our ambitions. They understand what cannabis entrepreneurs need, which isn’t surprising given the history of their executive team. The fact that we can get access to the expansion capital that we need to grow -- but also get to maintain our equity and control -- made the decision to work with Tidal Royalty very easy.’
Diem is actively exploring opportunities in Massachusetts, having built out its development team in state, and has already secured a number of locations in anticipation of applying for operating licences. The company plans further expansion in additional states, and the parties are exploring opportunities to work together on such plans.
With the completion of this agreement, Tidal Royalty has now consummated royalty transactions relating to operators licensed in Florida and Arizona, which operators intend to pursue licences in Massachusetts, and has entered into letters of intent with licensed cannabis operators in California, Nevada and Illinois. In addition, Tidal Royalty is in the process of evaluating multiple additional opportunities across the United States, including in New York, Ohio, Pennsylvania, Texas and Michigan. Tidal Royalty intends to provide further information on the opportunities it is evaluating when the respective parties reach an agreement and execute letters of intent.”
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. InMed Pharmaceuticals Inc. recently announced it has filed a Patent Cooperation Treaty (“PCT”) 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 8th, 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. “With the filing of this patent application, we are continuing the process of pursuing commercial protection for our novel technologies, in this case until May 2038. This is particularly important to the Company as we undertake additional pre-clinical studies of INM-085, as well as pursue initial discussion with potential partners,” said Eric A. Adams, InMed’s President and Chief Executive Officer.
Leafbuyer Technologies, Inc. (OTCQB: LBUY) is one of the most comprehensive online sources for cannabis deals and information. The Company recently announced its first major cannabis technology platform to combine all three major advertising initiatives for legal dispensaries into one offering, called “The Ultimate Bundle.” Available immediately, the unique package combines three core marketing tools: consumer attraction tools (directory listings), a robust texting and loyalty platform, and online ordering. Since the Company’s launch in 2013, Leafbuyer has learned that dispensaries’ fundamental marketing needs are based on attracting new consumers and converting them into loyal consumers. Online ordering is becoming popular in numerous industries as it gives consumers greater flexibility and privacy, while allowing faster processing of orders during busy hours. “We believe this is the most significant enhancement to our platform yet. Currently, our average customer spends around USD 400 per month for our services. By now offering three key services, and packaging them into one bundle, we will have the opportunity for USD 900-USD 1200 per customer per month. These services will all be highly integrated, and we believe will create superior value to anything currently available in the market,” said Kurt Rossner, Chairman and Chief Executive Officer of Leafbuyer.
United Cannabis Corporation (OTCQB: CNAB) is a biotechnology company dedicated to the development of phyto-therapeutic based products supported by patented technologies for the pharmaceutical, medical, and industrial markets. United Cannabis Corporation recently announced that it has initiated clinical trials on its Prana Bio Nutrient Medicinals P1 Capsules for the treatment of chronic pain at Jamaica’s University of the West Indies. The study, titled, “An Open Label, Phase 1, 2-Way crossover study evaluating the pharmacokinetics of Prana P1 THC activated capsules,” is be conducted in conjunction with Cannabinoid Research & Development (“CRD”), the Company’s Jamaican subsidiary, at the Centre For Cannabis Research at the University’s Mona Campus. Earnest Blackmon, Chief Executive Officer of United Cannabis, commented on the announcement, “We are very proud to announce the commencement of our clinical trials; we have been working toward this goal since we started the Company. The Prana products represent the culmination of years of research and development, and I am confident that the results will confirm the anecdotal evidence we have seen with patients since first introducing our Prana product line six years ago.”
Lifestyle Delivery Systems Inc. (OTCQX: LDSYF) is a licensed, state-compliant vertically integrated cannabis-related company. Lifestyle Delivery Systems Inc. recently announced updates on trademark filings and scheduling of clinical trials for bio-availability of its CannaStripsTM technology. The CannaStripsTM logo and tagline Smoke Free Pain Relief have been issued European Union trade mark registration numbers 017383712 and 017383738 by the European Union Intellectual Property Office and the United Kingdom trade mark registration numbers UK00003265774 and UK00003265768, issued by the United Kingdom Intellectual Property Office. The Company has also applied for trademark protection in California. These marks are in addition to the Canadian trademark applications the Company has filed with the Canadian Intellectual Property Office on April 25th, 2017. The Company is scheduling clinical trials to commenced in June 2018 to define the bio-availability benefits of the Lifestyle Delivery Systems CannaStripsTM technology. These clinical trials are expected to quantify the enhanced delivery method of CannaStripsTM compared to other forms of delivery.
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Company Codes: OTC-BB:TDRYF, OTC-BB:IMLFF, OTC-BB:LBUY, OTC-BB:CNAB, OTC-BB:LDSYF
