NEW YORK, February 6, 2018 /PRNewswire/ --
According to Arcview MarketResearch, the report estimates that the legal cannabis market will grow from $6.7 billion in consumer spending in 2016 to $22.6 billion in 2021. As a result, the increasing popularity and demand
CEO of The Arcview Group, Troy Dayton, explained, "Aside from cryptocurrency, there is simply no other industry changing as rapidly or as unevenly as the cannabis sector… makes capturing the data, predicting consumer behavior, and forecasting political developments both extraordinarily difficult and complicated, and one of the most vital tools for investors, entrepreneurs, and regulators trying to make sense of it all."
FinCanna Capital Corp. (OTC: FNNZF) also listed on the Canadian Securities Exchange under the trading symbol 'CALI'. Today, the company announced breaking news that it has entered into a royalty agreement with Green Compliance, Inc. ("Green Compliance"). Green Compliance, headquartered in Fort Lauderdale, Florida, offers a state-of-the-art enterprise compliance and point-of-sale software solution ("ezGreen") for licensed medical cannabis dispensaries and cultivators. Green Compliance helps its customers comply with both the Health Insurance Portability and Accountability Act ("HIPAA") and State Laws by ensuring patients' confidential data is being handled properly, helping to protect from possible security breaches and financial and criminal liability resulting from potential violations.
Green Compliance has commenced sales, and its target market is every licensed operating dispensary and cultivator in States which have passed laws legalizing medical cannabis - currently 29 states and Washington, D.C. Its ezGreen compliance software offers a security and HIPAA compliance strategy for dispensaries operating with valid licenses within their respective States. Most dispensaries use a seed-to-sale solution, and ezGreen has the flexibility to integrate as a plug-in with any existing seed-to-sale software or it can operate as a stand-alone point-of-sale system.
FinCanna CEO, Andriyko Herchak, comments, "We are building a diversified portfolio of royalty investments in companies that have the potential to be the leaders in their respective sectors of the licensed medical cannabis industry. Green Compliance, with its deep-rooted experience in compliance software and medical cannabis industry expertise, is an ideal addition to our royalty portfolio. Green Compliance has already commenced sales, and we expect our royalties to commence in the near future, with a tremendous opportunity for growth across all 29 U.S. states and Washington D.C. which have legalized medical cannabis. "
Green Compliance has an exclusive licensing and support agreement with Automated Healthcare Solutions ("AHCS") to market and sell ezGreen compliance software. AHCS is a leading point of care tracking and dispensing software solution in the U.S. dedicated to the workers compensation vertical in the pharmaceutical industry, and a proven HIPAA compliant solution. AHCS supports thousands of active physicians that dispense medication onsite and has tracked, monitored, reported, and protected patient information for the past 16 years across thousands of physician practices, while maintaining HIPAA compliance and following Health and Human Services protocols in the United States.
Together, AHCS and Green Compliance developed ezGreen compliance software to offer similar compliance guidelines, standards, and disciplines at the U.S. state level to the licensed medical cannabis industry as is done in the pharmaceutical industry. The ezGreen compliance software includes a suite of tools including state-by-state compliance, tracking, reporting, point-of-sale dispensing and product verification services.
HIPAA is one of the most significant medical data handling regulation systems in the United States. It has become the template for establishing regulatory requirements for all other industries in regard to handling sensitive patient information. HIPAA regulations have become more stringent due to the substantial increase in identity theft in recent years. Under the Royalty Agreement, FinCanna will fund US$3 million in the tranches by September 15, 2018. In return, FinCanna will receive a perpetual royalty equal to 10% of consolidated gross revenues of Green Compliance, subject to certain buy-back options.
Green Compliance has also partnered with Chameleon Collective, a strategy-based agency that drives marketing, business development, and innovation across the media, retail, and technology sectors. Chameleon Collective was founded by senior executives, marketers, technologists, entrepreneurs, and change-makers that also have a deep cannabis industry network. Chameleon Collective will help drive marketing, business development and innovation across the media, retail and technology sectors for Green Compliance on a U.S. national level."
FinCanna CEO, Andriyko Herchak, adds, "Partnering with Green Compliance and Chameleon is a very strategic opportunity to increase our presence across the U.S., help fund best-in-class companies and projects, and expand our diversified portfolio of royalty investments. Excelling at compliance solutions and building strong relationships with its customer base and with regulators will be an effective way for Green Compliance to become a trusted provider and open doors for a number of additional growth opportunities."
Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) is a Phase 3 clinical stage pharmaceutical company focused on the development and commercialization of novel therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. On January 30, 2018, the company announced that it has received a Development Award for up to $25 million from the Cystic Fibrosis Foundation. The Development Award enables the Company to execute its Phase 2b study of its novel, oral, pro-resolving drug lenabasum (formerly known as anabasum) in approximately 415 people with cystic fibrosis who are 12 years and older and at increased risk for pulmonary exacerbations. Lenabasum (formerly known as anabasum) is a synthetic, oral, small-molecule, selective cannabinoid receptor type 2 (CB2) agonist that preferentially binds to CB2 expressed on activated immune cells and fibroblasts.
Aphria Inc. (OTCQB: APHQF), one of Canada's lowest cost producers, produces, supplies and sells medical cannabis. Recently, the company and Liberty Health Sciences Inc. jointly announced that they have entered into a definitive agreement with respect to the sale of Aphria's subsidiary Aphria (Arizona) Inc. and its sole holdings being the minority membership interests in Copperstate Farms, LLC and Copperstate Farms Investors, LLC to Liberty for a purchase price of $20 million. Copperstate owns approximately 1.7 million square feet of greenhouses in Snowflake, Arizona of which approximately 348,000 square feet are in production of medical cannabis.
Canopy Growth Corporation (OTC: TWMJF) is a world-leading diversified cannabis and hemp company, offering distinct brands and curated cannabis varieties in dried, oil and Softgel capsule forms. On January 25, 2018, the company announced that it has closed the previously announced acquisition of assets and intellectual property from Green Hemp Industrie Ltd. and has welcomed Green's Principal and Founder, Jason Green to the Canopy Growth family. Canopy Growth will combine its own expertise in large-scale cannabinoid extraction processes with Green's unique whole-plant hemp harvesting knowledge and library of stable CBD-rich hemp genetics to position the Company as a global leader in low-cost, high yield CBD production. By diversifying its operations to include hemp harvesting and extraction, the Company will be investing in an innovative new agricultural sector and creating jobs for Saskatchewanians. The field operations alone are ready to scale from 600 acres in 2018 to 2,500 acres in 2019. To support this growth, custom built extraction infrastructure will be installed at Canopy's Tweed Grasslands facility.
Future Farm Technologies Inc. (OTCQB: FFRMF) is a Canadian company with projects throughout North American including California, Florida and Maryland. Recently, the company announced that it has closed on the purchase of a 15,000-sq. ft. building in Providence, Rhode Island. The building is located in a M-1 zone, which legally permits the cultivation of cannabis by right. The Company intends to lease this property to a local, licensed cultivator who will use the property as a licensed medical marijuana cultivation space, providing wholesale cannabis to Rhode Island's state-sanctioned dispensaries. Future Farm is investing heavily in building its portfolio of assets. The Company recently purchased a 10-acre operating greenhouse in Orange County, Florida, which generated an estimated $2,800,000 USD in revenue and $400,000 USD in EBITDA for 2017. It also recently purchased a 120-acre industrial hemp farm and entered into a lease for an additional 100-acres of organic farmland in Maine. The Company also recently entered into a lease agreement for an initial 12,960 sq. ft. of space in a 60,000 sq. ft. building located in Maine, with an option to expand and or buy the building.
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