Canada's Active Cannabis Companies Ramp Up Operations for Recreational Cannabis Legalization

Wednesday, February 7, 2018 Drug News
Email Print This Page Comment bookmark
Font : A-A+

PALM BEACH, Florida, February 7, 2018 /PRNewswire/ --

MarketNewsUpdates.com News Commentary 

The

world's largest legal cannabis industry is months away from its most sweeping change ever. The change is the complete legalization of recreational cannabis use in Canada and it is poised to ignite a growth in the industry.
Prominent analysts expect this market could expand rapidly to $6 billion by 2021, about the same size as Canada's alcohol and tobacco industries. According to Canadian Prime Minister Justin Trudeau, Canadian legislators and regulators have targeted 'summer 2018' to complete the legal framework to make Canada the first major world economy to fully legalize cannabis use. This event will be a turning point for the legal cannabis industry and it's creating a massive opportunity for Canada's leading cannabis companies such as: CHOOM Holding Inc. (CSE: CHOO) (OTC: CHOOF), Canopy Growth Corp. (TSX: WEED) (OTC: TWMJF), Aurora Cannabis, Inc. (TSX: ACB) (OTCQB: ACBFF), Aphria, Inc. (TSX: APH) (OTC: APHQF) and HIKU Brands Ltd. (TSX: HIKU) (OTC: DJACF).

Choom Holdings Inc. - Choom™ - (CSE: CHOO) (OTCQB: CHOOF) is pleased to announce its retail store program and that is now opening the Choom family up to potential retail owners. This follows Choom's announcement on January 18th, 2018 highlighting a retail strategy of developing a chain of branded retail cannabis dispensaries across Canada.

"We're inviting people to open stores with a world class brand built exclusively for the recreational cannabis market and we're encouraging them to join our family by registering for their own Choom™ Store", states Chris Bogart, President and CEO. ChoomTM is using design and retail strategies that have worked successfully at some of the most profitable storefronts in the country. We are telling our Choom story with our stores and will elevate the concept of a high-quality product though our new retail environments and we're inviting others to join us. Read this and more news for Choom™ at: http://www.marketnewsupdates.com/news/choo.html.

With an estimated $4.9B to $8.7B1 retail market coming, now is the right time get involved in this growing industry. Choom™ is very pleased to start welcoming potential partners to the Choom family. As we move forward in the design process and developing our retail strategy, adding passionate partners will be key to growth. In an industry where dispensaries in a legal recreation market are making more revenue per square foot than Whole Foods2 we look forward to adding partners who want to get in on the ground floor. Here's to good times with good friends.

In industry developments and happenings in the market this week: 

The Financial Post reports in its Tuesday edition that adult recreational pot users in British Columbia including Canopy Growth Corp. (TSX: WEED) (OTC: TWMJF) and Aphria, Inc. (TSX: APH) (OTC: APHQF), will be able to buy weed from private retailers, in urban centers and in government-run stores across the province, the B.C. government announced on this week. The Post's Mark Rendell writes that the B.C. Liquor Distribution Branch (LDB) is opening "a new standalone network of public retail stores," and will manage on-line sales. In urban areas, private stores will be allowed, although their retail activity will be limited. A government news release says, "Licensed retailers will not be able to sell cannabis in the same stores as liquor or tobacco." Private cannabis retailers also will not be allowed to sell other products like food, gas, clothing and lottery tickets. There is no cap on the total number of private retail licenses the government intends to issue. However, the province will not license retailers without support from local governments, which, according to the release, "will have the authority to make local decisions, based on the needs of their communities." For rural communities, it appears that the government will mostly rely on LDB stores, although the rules remain slightly unclear.

Aurora Cannabis Inc. (TSX: ACB) (OTCQB: ACBFF) this week has filed its notice of variation and CanniMed Therapeutics Inc. has filed its notice of change to directors' circular in connection with Aurora's improved offer to acquire all of the outstanding common shares of CanniMed not already owned by Aurora or its affiliates, described under Aurora's notice of variation below. As previously announced by the parties on Jan. 24, 2018, CanniMed's board of directors is unanimously recommending that CanniMed's shareholders accept the improved offer.

Hiku Brands Company Ltd.'s (TSX: HIKU) (OTCQB: DJACF) wholly owned subsidiary Doja Cannabis Ltd. has received notification from Health Canada that the company's presale inspection has been scheduled for Tuesday, Feb. 13, 2018. The presales licence inspection is the last step prior to the issuance of a sales licence under the ACMPR (Access to Cannabis for Medical Purposes Regulations). "As there are currently only 26 independent companies with cannabis sales licences under the ACMPR in Canada, receiving confirmation of our presales licence inspection from Health Canada is a major milestone for Hiku. I'm extremely proud of our cultivation team, the dedication to their craft shows in the very high-quality flower being produced at our licensed facility. Our team's ability to execute has allowed us to advance to the presales licence inspection ahead of schedule and faster than our peers. We look forward to soon selling Doja-branded cannabis to our valued customers," said Alan Gertner, Chief Executive Officer of Hiku.

DISCLAIMER: MarketNewsUpdates.com (MNU) is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. MNU is NOT affiliated in any manner with any company mentioned herein. MNU and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. MNU's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. MNU is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed MNU has been compensated forty four hundred dollars for news coverage of the current press release issued by Choom Holdings Inc. by a non-affiliated third party. MNU HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MNU undertakes no obligation to update such statements.

Contact Information: E-mail: info@marketnewsupdates.com Tel.: +1(561)325-8757

SOURCE MarketNewsUpdates.com



Post your Comments

Comments should be on the topic and should not be abusive. The editorial team reserves the right to review and moderate the comments posted on the site.
* Your comment can be maximum of 2500 characters
I agree to the terms and conditions

News A - Z

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

News Search

Medindia Newsletters

Subscribe to our Free Newsletters!

Terms & Conditions and Privacy Policy.

Find a Doctor

Press Release Category

Press Release Archive

Stay Connected

  • Available on the Android Market
  • Available on the App Store