NEW YORK, February 7, 2017 /PRNewswire/ --
The cannabis market is growing rapidly in North American. According to
The report also indicated the factors that drive the growth: "Rapid legalizing and growing awareness about the medicinal properties of marijuana to boost the market over the forecasted period Among the country markets in North America, The U.S. and Canada accumulate significant revenue, owing to rapid legalization in the country, increasing number of evidences in favor of marijuana possessing medicinal properties, and growing acceptance among end-users"
Invictus MD Strategies Corp. (OTC: IVITF) (CSE: IMH.CN) just announced today that, "on February 6, 2017 it had entered into a binding letter of intent ("LOI") for an option to acquire 100% (the "Option") of the outstanding shares of a Late Stage Applicant (the "OptionCo") under the Access to Cannabis for Medical Purposes Regulations ("ACMPR") from its current shareholders (the "Vendors"). In early January 2017, OptionCo had its Pre-license inspection from Health Canada and expects to receive a license to cultivate under the ACMPR in short order.
OptionCo has built 60,000 square feet of secured perimeter for its current production facility located on 150 acres (the "Property"), which is expected to have production capacity of up to 6,000 kg per annum. OptionCo has already submitted plans for additional buildings on the Property including a 30,000 square foot facility. Assuming OptionCo receives the requisite regulatory approval to cultivate, OptionCo has future expansion plans on the 150 acre Property to establish itself as a leader in the Canadian cannabis industry.
The Option will be exercisable at the sole option of Invictus MD within 30 days after OptionCo receives its license to cultivate under the ACMPR. The exercise price of the Option will be payable as follows: (i) cash payment of $4 million CDN to the Vendors; (ii) issuing to the Vendors within 10 business days of exercising the Option, 21 million common shares of Invictus MD; and (iii) issuing to the Vendors 3 million warrants with an exercise price of $1.50 per warrant, of which: 1 million warrants will expire in 6 months following the date the Option is exercised; 1 million warrants will expire in 12 months following the date the Option is exercised, and 1 million warrants will expire in 18 months following the date the Option is exercised.
Subject to completion of satisfactory due diligence, Invictus MD intends to enter into a definitive option agreement on or before February 24, 2017.
"Once the option to acquire a 100% interest in OptionCo is exercised, along with the previously acquired interest in AB Laboratories, a licensed producer under the ACMPR, Invictus MD will have significant land holdings for cannabis cultivation in Canada to meet the significant demand. From day one, Invictus MD has viewed acquiring production capacity under the ACMPR as a key driver to increasing shareholder value", said Dan Kriznic, Chairman and CEO of Invictus MD. According to a recent report from the consulting firm Deloitte "Recreational Marijuana - Insights and Opportunities", the Canadian retail cannabis market is projected to be between $4.9 billion and $8.7 billion annually. In that same report, Deloitte further estimates that satisfying the recreational cannabis market will mean producing 600,000 kilograms of marijuana annually - far more than the existing licensed producers under the ACMPR grow for medicinal purposes.
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Cannabis Sativa Inc. (OTCQB: CBDS) develops and promotes natural cannabis products. The Company is engaged in the research, development and licensing of natural cannabis products, including cannabis formulas, edibles, topicals, strains, recipes and delivery systems. The Company plans to develop, produce and market products through joint ventures with companies licensed under state regulations applicable to cannabis businesses. It holds the license for a medicinal cannabis strain called NZT, a cannabis lozenge delivery methodology, and a cannabis trauma cream formula. The Company is also developing a third strain of cannabis plant named CT22.
Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE) is a clinical-stage pharmaceutical company dedicated to the development of innovative transdermal synthetic cannabinoid treatments for patients with high unmet medical needs. The company's pipeline includes patent-protected synthetic transdermal cannabinoid products, which they believe will provide new treatment options for patients as well as additional treatment options for patients not currently receiving adequate relief or otherwise experiencing intolerable side effects from current treatment regimes.
Insys Therapeutics Inc. (NASDAQ: INSY) is a specialty pharmaceutical company that develops and commercializes innovative drugs and novel drug delivery systems for therapeutic molecules that improve the quality of patients' lives. Using proprietary sublingual spray technology and its capabilities to develop pharmaceutical cannabinoids, the company works to address the clinical shortcomings of existing commercial products. The Company's product Subsys, is a sublingual fentanyl spray for breakthrough cancer pain in opioid-tolerant patients and a single-use product that delivers fentanyl, an opioid analgesic, for transmucosal absorption underneath the tongue.
Cara Therapeutics Inc. (NASDAQ: CARA) a clinical-stage biopharmaceutical company, focuses on developing and commercializing chemical entities designed to alleviate pain and pruritus by selectively targeting kappa opioid receptors in the United States. The company is developing product candidates that target the body's peripheral nervous system. Its lead product candidate includes I.V. CR845, which is in Phase III clinical trials for the treatment acute postoperative pain in adult patients, as well as completed Phase II clinical trials for the treatment of uremic pruritus disease.
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