The Potential Legalization of Cannabis in Canada and the U.S.
NEW YORK, November 28, 2016 /PRNewswire/ --
The movement to legalize cannabis has reached crucial milestones in 2016. More Americans and Canadians approve of legalization than ever before. A report by pewresearch.org indicates that 57% of adults in the United States approve of cannabis reform, while only 37% remain against the notion. This is a significant increase since just five years ago, and this shift in public's perception is why the cannabis industry is forecasted to grow at a 30% annual growth rate by 2020, as reported by New Frontier and ArcView Research. Finore Mining Inc. (OTC: FNREF) (CSE: FIN.CN), Cannabis Sativa Inc. (OTC: CBDS), Terra Tech Corp. (OTC: TRTC), General Cannabis Corp. (OTC: CANN), United Cannabis Corp. (OTC: CNAB).
Canada is moving to potentially legalize cannabis in 2017, as the current Liberal Party government will introduce reforms next spring to legalize cannabis for recreational use not just medical. A Mackie Research Capital Corp. estimates that the Canadian marijuana market will be valued more than $2.5-billion by 2020, assuming full legalization, both for medical and recreational purposes, in 2017.
Recently, Finore Mining Inc. (OTC: FNREF) (CSE: FIN.CN) has agreed to acquire all of the issued and outstanding securities of Kushtown USA LLC in a letter agreement to the company. Kushtown USA specializes in cannabis infused products such as medicated water, soda, hot sauce and barbecue sauce. On its website, the company offers up to 20 different medicated sodas. The sodas and drinks come in varieties of carbonated and non-carbonated beverages, with popular flavors infused with a medical marijuana THC oil tincture such as Cherry Cola, lemonade, fruit punch, and lemon lime.
Finore Mining Inc. just announced that, "the companies are working closely with their legal advisors and are nearing completion of final documentation for filing with the Canadian Securities Exchange for completion of Finore's merger with Kushtown USA and plan to file the documentation in the coming weeks.
Kushtown USA, with guidance from its advisors has entered into an Option to Lease a facility to establish an automated bottling and edibles manufacturing and distribution facility in the Greater Los Angeles area and is finalizing its due diligence on the facility. The company is working with its advisors to ensure its planned manufacturing facility will be compliant with the California Food Safety Program.
The Food Safety Program of the Food and Drug Branch of California strives to be a world leader and trusted voice in farm to table food safety. The mission of the program is to protect and improve the health of consumers by assuring foods are safe, and are not adulterated, misbranded, or falsely advertised. This is accomplished through enforcement based upon scientific principles and specific legal authority.
Kushtown USA owns the trademark "KUSHTOWN" in the United States and has submitted applications to trademark KUSHTOWN in Europe, Australia, New Zealand, Canada, and Latin America. Kushtown's goal is to build the Kushtown brand of sodas, sauces and edibles across all regions where marijuana is legal for medicinal or recreational marijuana products. Initial plans are for Kushtown USA to focus in the USA and Canada. The company will also be seeking licensing partners to the Kushtown brand in other countries such as Colombia, Netherlands, Puerto Rico, Portugal and Spain, where marijuana has been largely legalized.
Kushtown President, Peter Moret states, "We are moving quickly to be the first company to work towards an internationally recognized cannabis brand of sodas and edibles. I am proud to stand behind the reputation that Kushtown USA has built in the California cannabis medicinal market and it has long been my goal to build Kushtown into an internationally recognized name brand. Our transaction with Finore will establish a Canadian public listing and acquire the required funding to do so. We have engaged the best industry advisors who will guide us to be a first mover in this exciting business opportunity and move forward with full compliance to the changing regulatory fields in the various jurisdictions."
Cannabis Sativa Inc. (OTCQB: CBDS) core business is developing and promoting natural cannabis products from strains to edibles and to delivery systems. Cannabis Sativa works through its subsidiary, Wild Earth Naturals, which is an herbal skin care product formulation and marketing company. The company also has a portfolio of well-known products: face moisturizer, an all-over body moisturizer, a lip emollient and a deep penetrating healing salve. 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.
Terra Tech Corp. (OTCQX: TRTC) works through two segments which are the Hydroponic Produce and Cannabis Products sectors. The company's subsidiary IVXX™, hand picks and grows the top quality cannabis using free of toxic pesticides, harmful molds and chemical residues. Its products are carefully produced, tested and certified to the uppermost standards of potency and purity. Currently, the company's hand selected strains are the I-Hybrid and S-Hybrid. IVXX offers pure concentrates ranging from Shatter, Wax to Oil, which are all produced in its advanced extraction labs.
The all-in-one resource to the regulated cannabis industry, General Cannabis Corp. (OTCQB: CANN) released the company's financial results for its third quarter. "We had a great third quarter, with 105% revenue growth year-to-date compared to last year, and 37% on a quarterly basis. All of our divisions continue to perform well and we're excited about the progress of newer business initiatives and acquisition opportunities," said Robert Frichtel, CEO of General Cannabis. "As a publicly traded leading consolidator in the cannabis industry, we continue to see significant opportunities as additional states legalize medical and adult use marijuana. We have proven our ability to acquire and grow real companies that touch this rapidly expanding industry."
United Cannabis Corp. (OTCQB: CNAB) is involved in a unique business around medical spa management. United Cannabis core business is to provide products, services and intellectual property to the cannabis industry. Currently the company owns property regarding growth, production, manufacture, marketing, management, utilization and distribution of medical and recreational marijuana and marijuana infused products, legally. The Company will be surfacing the use of phytocannabinoid therapeutics in medicine through examination, product development and education.
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