NEW YORK, January 9, 2018 /PRNewswire/ --
According to a report by New Frontier Data, the legal cannabis market was worth $6.6 billion in 2016 and is forecast to grow to $24.1 billion by 2025, registering a compound annual growth rate of 16 percent. By segment, the medical cannabis market was worth $4.7 billion in 2016 and is expected to grow to $13.3 billion by 2025. Recreational cannabis sales during the same period are projected to grow at a 21 percent CAGR, from $1.9 billion to $10.9 billion. The continued legalization of cannabis products for both medical and recreational use is a major factor contributing to the growth of the market. On November 8th, 2016, California has passed California Proposition 64 by a vote of 57.13% for and 42.87% against, allowing individuals in California to use and grow cannabis for personal use. California's new recreational cannabis laws were officially implemented on January 1st, 2018. Pivot Pharmaceuticals Inc. (OTC: PVOTF), General Cannabis Corp. (OTC: CANN), Vitality Biopharma, Inc. (OTC: VBIO), Aphria Inc. (OTC: APHQF), Kush Bottles, Inc. (OTC: KSHB)
New Frontier Data CEO Giadha Aguirre De Carcer, commented on California's potential market growth, "California offers the perfect example of why it is so important to understand trends in consumer behavior. The state's legal (cannabis) industry is forecast to grow from $2.8 billion in 2017 to $5.6 billion in 2020. That spending will be increasingly directed at products and retailers who understand and serve the market's evolving tastes and preferences. The market is changing, and the most successful operators will be those who adapt most quickly to the change."
Pivot Pharmaceuticals Inc. (OTCQB: PVOTF) also listed on the Canadian Stock Exchange under the Ticker 'PVOT'. Just earlier today the company announced breaking news that, "the Company has signed a Service Agreement with SoluBest Ltd., an Israeli-based research organization that specializes in the development of client tailored formulation and pilot production services and scale-up. SoluBest, located at the prestigious Weizmann Institute of Science campus, has been selected to develop Pivot's topical bio-cannabis pipeline of products.
Pivot also wishes to announce that pursuant to its previously announced Binding Letter of Intent to license Thrudermic LLC's transdermal nanotechnology, Dr. Joseph Borovsky and Dr. Leonid Lurya have agreed to lead the development of Pivot's topical bio-cannabis programs at SoluBest. These programs include BiPhasix semi-solid topical cream and Thrudermic's transdermal technology for the delivery of cannabis through the skin barrier.
Dr. Joseph Borovsky, Thrudermic's Chief Executive Officer, indicated that "Thrudermic expects to provide Pivot with product for market launch by Q2 2018. Working in SoluBest's state-of-the-art facility using Thrudermic's formulation know-how will afford Pivot the opportunity to accelerate the development, testing and introduction of new products to the market."
Dr. Patrick Frankham, Pivot Pharmaceuticals' Chief Executive Officer, states that "we are delighted to be moving ahead with our plan to develop best-in-class topical bio-cannabis products led by Dr. Borovsky and Dr. Lurya from Thrudermic. We are equally happy to report that we have found a very qualified laboratory and development partner for our topical development programs for our BiPhasix and Thrudermic technologies in Israel. This announcement accelerates our product development and confirms that we will be ready to introduce several bio-cannabis based products to the market in 2018. The potential to recognize revenue from quality products will help patients and caregivers better manage their health conditions."
General Cannabis Corp. (OTCQB: CANN) is the comprehensive national resource for the highest-quality service providers available to the regulated cannabis industry. On December 21, 2017, the company announced it signed a $955,000 two-year contract to manage a grow facility in California. This represents the largest single contract the company has undertaken since inception. The Company also plans to provide significant other services, including hardware and supply procurement, in addition to the initial contract terms. This new contract for Next Big Crop, the business consulting and management arm of General Cannabis, represents the second major California-based project for the company. Iron Protection Group, the firm's security division, opened an office near Sacramento earlier in 2017. Vitality Biopharma, Inc. (OTCQB: VBIO) is dedicated to unlocking the power of cannabinoids for the treatment of serious neurological and inflammatory disorders. Recently, the company introduced its lead cannabinoid drug formulation VITA-100 as a non-psychoactive prodrug of THC. Vitality Biopharma has developed a new class of cannabinoid prodrugs, known as cannabosides, which enable targeted delivery of THC to the large intestine. THC has been previously reviewed and approved by the U.S. Food & Drug Administration (FDA) under the name dronabinol, and has been established as safe and effective for use with appetite stimulation and for treatment of nausea and vomiting. Vitality's cannabosides could enable oral delivery of large concentrations of cannabinoids in order to provide therapeutic benefits while reducing or eliminating psychoactivity by limiting entry of THC into the bloodstream or brain. Aphria Inc. (OTCQB: APHQF) announced recently that it has entered a strategic relationship with Double Diamond Farms, a local greenhouse grower, to provide an additional 120,000 kgs of annual cannabis production. The deal accelerates Aphria's capacity increase by over a year versus building out its existing 100-acre site. Combined with Aphria's existing expected cannabis production of 100,000 kgs, Aphria will have, what it believes to be, the largest fully funded production capabilities in the industry in 2019. Aphria anticipates that all 220,000 kgs of expected annual cannabis production will be available for sale in January 2019, pending Health Canada approvals. Double Diamond, a 49% partner in GrowCo, will supply the land, new state of the art, Dutch style greenhouses, existing infrastructure and employees for the venture. Aphria, holding a controlling 51% interest in GrowCo, will supply its Standard Operating Procedures, quality oversight and will apply for a second Health Canada cultivation license for the site. The 100-acre site is located on Highway 77 in Leamington, Ontario, has never had another crop planted inside of it and abuts Aphria's existing second campus, comprised of another 100-acre site.
Kush Bottles, Inc. (OTCQB: KSHB) is a dynamic sales platform that provides unique products and services for both businesses and consumers in the cannabis industry. Founded in 2010 as a packaging and supplies company for dispensaries and growers, Kush Bottles has sold more than 100 million units and now regularly services more than 4,000 legally operated medical and adult-use dispensaries, growers, and producers across North America, South America, and Europe. The company has facilities in the three largest U.S. cannabis markets and a local sales presence in every major U.S. cannabis market. On November 28, 2017, the company reported financial results for its fiscal year ended August 31, 2017. Revenue was up 129% Year-over-Year to $18.8 million; revenues included four months of sales from CMP Wellness which was acquired on May 1, 2017. Gross margins held steady at 33%, in line with the prior year period.
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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 pivot pharmaceuticals inc. financial news dissemination and PR services, FinancialBuzz.com has been compensated five thousand dollars by vintage capital group inc. 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 .
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According to a report by New Frontier Data, the legal cannabis market was worth $6.6 billion in 2016 and is forecast to grow to $24.1 billion by 2025, registering a compound annual growth rate of 16 percent. By segment, the medical cannabis market was worth $4.7 billion in 2016 and is expected to grow to $13.3 billion by 2025. Recreational cannabis sales during the same period are projected to grow at a 21 percent CAGR, from $1.9 billion to $10.9 billion. The continued legalization of cannabis products for both medical and recreational use is a major factor contributing to the growth of the market. On November 8th, 2016, California has passed California Proposition 64 by a vote of 57.13% for and 42.87% against, allowing individuals in California to use and grow cannabis for personal use. California's new recreational cannabis laws were officially implemented on January 1st, 2018. Pivot Pharmaceuticals Inc. (OTC: PVOTF), General Cannabis Corp. (OTC: CANN), Vitality Biopharma, Inc. (OTC: VBIO), Aphria Inc. (OTC: APHQF), Kush Bottles, Inc. (OTC: KSHB)
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New Frontier Data CEO Giadha Aguirre De Carcer, commented on California's potential market growth, "California offers the perfect example of why it is so important to understand trends in consumer behavior. The state's legal (cannabis) industry is forecast to grow from $2.8 billion in 2017 to $5.6 billion in 2020. That spending will be increasingly directed at products and retailers who understand and serve the market's evolving tastes and preferences. The market is changing, and the most successful operators will be those who adapt most quickly to the change."
Pivot Pharmaceuticals Inc. (OTCQB: PVOTF) also listed on the Canadian Stock Exchange under the Ticker 'PVOT'. Just earlier today the company announced breaking news that, "the Company has signed a Service Agreement with SoluBest Ltd., an Israeli-based research organization that specializes in the development of client tailored formulation and pilot production services and scale-up. SoluBest, located at the prestigious Weizmann Institute of Science campus, has been selected to develop Pivot's topical bio-cannabis pipeline of products.
Pivot also wishes to announce that pursuant to its previously announced Binding Letter of Intent to license Thrudermic LLC's transdermal nanotechnology, Dr. Joseph Borovsky and Dr. Leonid Lurya have agreed to lead the development of Pivot's topical bio-cannabis programs at SoluBest. These programs include BiPhasix semi-solid topical cream and Thrudermic's transdermal technology for the delivery of cannabis through the skin barrier.
Dr. Joseph Borovsky, Thrudermic's Chief Executive Officer, indicated that "Thrudermic expects to provide Pivot with product for market launch by Q2 2018. Working in SoluBest's state-of-the-art facility using Thrudermic's formulation know-how will afford Pivot the opportunity to accelerate the development, testing and introduction of new products to the market."
Dr. Patrick Frankham, Pivot Pharmaceuticals' Chief Executive Officer, states that "we are delighted to be moving ahead with our plan to develop best-in-class topical bio-cannabis products led by Dr. Borovsky and Dr. Lurya from Thrudermic. We are equally happy to report that we have found a very qualified laboratory and development partner for our topical development programs for our BiPhasix and Thrudermic technologies in Israel. This announcement accelerates our product development and confirms that we will be ready to introduce several bio-cannabis based products to the market in 2018. The potential to recognize revenue from quality products will help patients and caregivers better manage their health conditions."
General Cannabis Corp. (OTCQB: CANN) is the comprehensive national resource for the highest-quality service providers available to the regulated cannabis industry. On December 21, 2017, the company announced it signed a $955,000 two-year contract to manage a grow facility in California. This represents the largest single contract the company has undertaken since inception. The Company also plans to provide significant other services, including hardware and supply procurement, in addition to the initial contract terms. This new contract for Next Big Crop, the business consulting and management arm of General Cannabis, represents the second major California-based project for the company. Iron Protection Group, the firm's security division, opened an office near Sacramento earlier in 2017. Vitality Biopharma, Inc. (OTCQB: VBIO) is dedicated to unlocking the power of cannabinoids for the treatment of serious neurological and inflammatory disorders. Recently, the company introduced its lead cannabinoid drug formulation VITA-100 as a non-psychoactive prodrug of THC. Vitality Biopharma has developed a new class of cannabinoid prodrugs, known as cannabosides, which enable targeted delivery of THC to the large intestine. THC has been previously reviewed and approved by the U.S. Food & Drug Administration (FDA) under the name dronabinol, and has been established as safe and effective for use with appetite stimulation and for treatment of nausea and vomiting. Vitality's cannabosides could enable oral delivery of large concentrations of cannabinoids in order to provide therapeutic benefits while reducing or eliminating psychoactivity by limiting entry of THC into the bloodstream or brain. Aphria Inc. (OTCQB: APHQF) announced recently that it has entered a strategic relationship with Double Diamond Farms, a local greenhouse grower, to provide an additional 120,000 kgs of annual cannabis production. The deal accelerates Aphria's capacity increase by over a year versus building out its existing 100-acre site. Combined with Aphria's existing expected cannabis production of 100,000 kgs, Aphria will have, what it believes to be, the largest fully funded production capabilities in the industry in 2019. Aphria anticipates that all 220,000 kgs of expected annual cannabis production will be available for sale in January 2019, pending Health Canada approvals. Double Diamond, a 49% partner in GrowCo, will supply the land, new state of the art, Dutch style greenhouses, existing infrastructure and employees for the venture. Aphria, holding a controlling 51% interest in GrowCo, will supply its Standard Operating Procedures, quality oversight and will apply for a second Health Canada cultivation license for the site. The 100-acre site is located on Highway 77 in Leamington, Ontario, has never had another crop planted inside of it and abuts Aphria's existing second campus, comprised of another 100-acre site.
Kush Bottles, Inc. (OTCQB: KSHB) is a dynamic sales platform that provides unique products and services for both businesses and consumers in the cannabis industry. Founded in 2010 as a packaging and supplies company for dispensaries and growers, Kush Bottles has sold more than 100 million units and now regularly services more than 4,000 legally operated medical and adult-use dispensaries, growers, and producers across North America, South America, and Europe. The company has facilities in the three largest U.S. cannabis markets and a local sales presence in every major U.S. cannabis market. On November 28, 2017, the company reported financial results for its fiscal year ended August 31, 2017. Revenue was up 129% Year-over-Year to $18.8 million; revenues included four months of sales from CMP Wellness which was acquired on May 1, 2017. Gross margins held steady at 33%, in line with the prior year period.
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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 pivot pharmaceuticals inc. financial news dissemination and PR services, FinancialBuzz.com has been compensated five thousand dollars by vintage capital group inc. 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 .
For further information: [email protected] +1-877-601-1879
Url: http://www.FinancialBuzz.com
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