PALM BEACH, Florida, July 11, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
Demandfor legal cannabis is growing at unprecedented rates as the industry continues to develop into an economic powerhouse across the Globe. According to data from Anderson Economic Group, demand for cannabis in the United States
CROP Infrastructure Corp. (CSE:CROP) (OTCPK:CRXPF)) BREAKING NEWS: CROP Infrastructure announces its 30% owned Italy Joint Venture partner "XHemplar Italia" has planted 25 acres or 1,089,000 square feet of high CBD "Cannabis Light" in North Eastern Italy. This represents over a 100% increase on the previously announced capacity announced in press release dated June 27th 2018.
The Joint Venture's resulting high CBD "Cannabis Light" will be processed and sold into international CBD markets under white label, the venture's house name XHemplar and Crop brands Tiffany CBD and Hempire Italia. The company will also use the production to infuse its recently announced therapeutic and cosmetic product lines, licensed from The Yield Growth Corp., which transaction is now complete giving Crop exclusive rights in Italy to over 55 wellness products.
According to Arcview Market Research and its partner, BDS Analytics, government-subsidized health care spending (worldwide market at $1.3-trillion) is expected to make Europe among the fastest growing and largest medical cannabis markets in the world. Arcview expects Italy to be the second largest cannabis market in Europe by 2027 with $1.2 billion in sales.
CROP Infrastructure Director & CEO Michael Yorke states: "The company is extremely encouraged by the fast pace with which the team at XHemplar has commenced production in Italy. CROPs portfolio of cannabis infrastructure assets now includes cultivation properties in California, Washington State, Nevada, Italy and joint ventures on West Hollywood and San Bernardino dispensary applications. CROP has developed a portfolio of 15 Cannabis brands and also has US and Italian distribution rights to a line of over 55 cannabis topical products. Read this full announcement and more news for CROP Infrastructure at: http://www.marketnewsupdates.com/news/crop.html Additional cannabis industry related developments from around the markets:
Canopy Growth Corporation (NYSE:CGC) (TSX:WEED.TO) and Hiku Brands Company Ltd. (CSE:HIKU.CN) recently announced that they have entered into a definitive arrangement agreement (the "Agreement") pursuant to which Canopy Growth will acquire all of the issued and outstanding common shares of Hiku (the "Transaction"). Under the terms of the Agreement, Hiku shareholders will receive 0.046 of a Canopy Growth common share (each whole share, a "Canopy Share") in exchange for each common share of Hiku (each, a "Hiku Share"), representing the equivalent of C$1.91 per Hiku Share and a premium of 33% based on the 20-day volume weighted average prices of the Canopy Shares and the Hiku Shares as of July 9, 2018, and a premium of approximately 21% based on the closing prices of the Canopy Shares on the Toronto Stock Exchange ("TSX") and the Hiku Shares on the Canadian Stock Exchange ("CSE") on July 9, 2018.
Mym Nutraceuticals Inc. (OTCQB:MYMMF) (CSE:MYM.CN) recently announced that it has entered into an Investment Agreement to acquire a 49% stake in Colombian cannabis company, Colombia Organica, that currently holds a seed to sale license for low THC cannabis. This license permits Colombia Organica to grow, produce and create cannabis derivatives to be commercialized and / or exported. Further, Colombia Organica is in the licensing process for the cultivation and production of high THC cannabis extracts. MYM and Colombia Organica have plans to build a production facility near Medellin, Colombia for the cultivation and processing of cannabis and cannabis products. Currently, Colombia Organica is developing and registering seed strains with the Colombian Agricultural Institute.
Neptune Technologies & Bioressource Inc. (NASDAQ:NEPT) (TSX:NEPT.TO) recently announced it entered into a multi-year agreement with Canopy Growth (TSX:WEED.TO) (NYSE:CGC). Under the terms of the agreement, Neptune will supplement Canopy Growth's extraction, refinement, and extract product formulation capacity. "We are truly excited to partner with such a great company as Canopy Growth. This multi-year agreement, including minimum volume commitments, will be supported by Neptune's decades of experience in extraction, purification and formulation of value added differentiated science-based products," said Michel Timperio , President of Neptune's Cannabis Business.
Aphria Inc. (OTCQB:APHQF) (TSX:APH.TO) recently announced it has signed a Supply Agreement (the "Agreement") with the Alberta Gaming, Liquor & Cannabis Commission ("AGLC") to provide a portfolio of high-quality cannabis and cannabis-derivative products for sale in Alberta's adult-use market. "We are thrilled to be working with such a strong partner that is equally committed to promoting responsible cannabis use," said Jakob Ripshtein, Chief Commercial Officer at Aphria. "This important agreement enables Aphria's adult-use brands to have a strong presence in Alberta's dynamic retail landscape. Through our partnership with the AGLC, we look forward to providing access to our thoughtfully crafted portfolio of brands that were designed to meet the diverse needs of Alberta consumers."
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