Cannabis Market Continues to Grow on Global Legalization Efforts

Friday, October 19, 2018 General News
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NEW YORK, October 19, 2018 /PRNewswire/ --

According to data compiled

by Mordor Intelligence, the global cannabis market was valued at USD 7.7 Billion in 2016 and is expected to reach USD 65 Billion by 2023 while growing at a CAGR of 37% during the forecast period.
The growth is explained by the spread of global legalization beginning to take place for medical products as well as recreational. Currently, North America accounts for 95% of the market, while the U.S. makes up more than 90% of the North American region. However, only select states in the U.S. have legalized cannabis for both medical and recreational use, such as California, Nevada, Colorado, Washington and a few others. Canada and Uruguay are the only two countries to have passed bills to legalize cannabis nationwide. Impending market regions include European countries such as Spain, Netherlands and Italy, who are expected to legalize cannabis for medical use in the shortcoming future. Chemesis International Inc. (OTC: CADMF), Organigram Holdings Inc. (OTC: OGRMF), MedMen Enterprises Inc. (OTC: MMNFF), MariMed Inc. (OTC: MRMD), Aleafia Health Inc. (OTC: ALEAF)

Many companies involved in the cannabis market are focusing on standardizing their products, as well as receiving intellectual property rights for them. Other companies are conducting cannabis research, which is projected to impact the market heavily. Positive results from Canadian cannabis companies have allowed them to secure agreements and licensing contracts across Canada and are now beginning to spread internationally. Although not yet fully legalized, the U.S. is poised to continue to dominate the global cannabis market, which has prompted multinational companies to enter the fray. "We are sitting back now and watching the Canadians take market share with regards to international export opportunity," says Matt Karnes, Founder of industry analyst firm GreenWave Advisors. "And multinational companies that are stepping in, or potentially want to step in, are all eyeing Canada, whereas I believe the United States clearly has the most robust and compelling opportunity for cannabis."

Chemesis International Inc. (OTC: CADMF) is also listed on the Canadian Securities Exchange under the ticker (CSE: CSI). Earlier this week, the Company announced that, "its intention to enter the recreational and medical cannabis market in Canada. The Company is reviewing possible joint ventures, agreements or acquisitions in distribution, manufacturing, and product development spaces. Chemesis intends on leveraging its assets, brands, and management expertise to gain market share in Canada. Chemesis is presently performing due diligence on fully licensed and operational cannabis companies in Canada.

Canada has significant opportunity in both recreational and medical markets, with the Canadian cannabis market expected to generate up to $7.17 billion CDN in 20191. The Company sees major opportunities in Canada from high-quality manufacturing to brands that have developed a strong presence in the market. Chemesis aims to introduce Canadian consumers its portfolio of brands which includes California Sap, the Company's flagship brand. California Sap has been recognized in California since 2012, with 25 gold rankings for best CO˛, best topical, best product, best concentrate, best cartridge, highest terpene and more.

'The Company is looking at multiple opportunities in Canada that will allow us to enter the market and gain a strong presence with minimal regulatory hurdles,' said CEO, Edgar Montero. 'Chemesis is only evaluating businesses that have met regulatory and compliance standards. This allows the Company to enter into the market with our assets, and expertise without unnecessary delay. The introduction of California Sap and our other brands will allow Canadians the ability to purchase premium brands, that are extremely accomplished in California. As we continue to execute our business plan, Chemesis will look for acquisitions and partnerships that bring growth and shareholder value.'"

Organigram Holdings Inc. (OTCQX: OGRMF) is a TSX Venture Exchange listed company whose wholly owned subsidiary, Organigram Inc., is a licensed producer of cannabis and cannabis-derived products in Canada. Organigram Holdings Inc. recently announced its medicinal cannabis plants and growing process has been certified organic with Ecocert Canada. As part of the process, Organigram submitted a comprehensive action plan to Ecocert Canada, part of the Ecocert group, one of the largest organic certification organizations in the world, outlining the Company's robust segregation design to manage and execute the complexities of producing and processing both streams of product within the same facility. "When we considered the need to expand and meet the needs of our existing and future customer base, it was apparent that we needed to take our time and create an environment of excellence related specifically to the production of organic cannabis for medicinal use," says Greg Engel, Chief Executive Officer Organigram. "We have built a robust and diligent organic strategy into our plans to help ensure we can confidently deliver medicinal products that meet the exacting standards of our clients."

MedMen Enterprises Inc. (OTCQB: MMNFF) is a leading cannabis company in the U.S. with assets and operations across the country. MedMen Enterprises Inc. and Chicago-based PharmaCann LLC recently announced that both companies have signed a binding letter of intent for MedMen to acquire PharmaCann in an all-stock transaction valued at USD 682 Million. The resulting pro-forma company (including pending acquisitions by MedMen) will have a portfolio of cannabis licenses in 12 states that will permit the combined company to operate 79 cannabis facilities. The combined company will operate in 12 states, which comprise a total estimated addressable market, as of 2030, of approximately USD 40 Billion according to Cowen Group. Through the transaction, MedMen will add licenses in Illinois, New York, Pennsylvania, Maryland, Massachusetts, Ohio, Virginia and Michigan. "This is a transformative acquisition that will create the largest U.S. cannabis company in the world's largest cannabis market," said Adam Bierman, MedMen's Chief Executive Officer and Co-Founder. "The transaction adds tremendous scale to our vertically integrated business model by expanding our U.S. retail footprint across important growth markets while strengthening our cultivation and production capabilities. With the revenue synergies that the deal is expected to produce, MedMen is well positioned to continue executing on our growth strategy. This would not have been possible even two years ago and is a testament to how far both the industry and these two companies have evolved. PharmaCann's leadership has built a world-class organization, and we are excited about the value this transaction is creating for shareholders."

MariMed Inc. (OTCQB: MRMD) is a multi-state professional cannabis organization that develops, owns and manages cannabis facilities and branded products lines. MariMed, Inc. recently announced that it had consummated its strategic investment in Sprout, an all-in-one CRM and marketing software company for marijuana dispensaries and cannabis brands. This completes the previously announced MariMed LOI for investment in Cannabis Venture Partners, parent company of Sprout. "The cannabis industry needs a comprehensive software solution which integrates a full featured CRM engine and platform for marketing, education, and analysis for brands, dispensaries, educators, and researchers," said MariMed Chief Executive Officer Robert Fireman. "The Sprout platform has the foundation for these functions and more. MariMed will work with the Sprout team to make this software the best for the cannabis industry. This product enables MariMed to provide a bundled technology solution for its brands, facilities, and strategic partnerships incorporating both B2B and B2C communications."

Aleafia Health Inc. (OTCQX: ALEAF) is a leading, vertically integrated cannabis company with major cannabis cultivation & processing and medical cannabis clinics business operations.  Recently, Aleafia Health Inc. has extended the exclusivity period for the proposed adult-use retail and brands joint-venture ("JV") with the Serruya Family by two weeks. The JV marks the first phase of a multiphase strategy that will see Aleafia enter the adult-use cannabis industry and related retail operations in Canada and globally. This will create the foundation for the adult-use business pillar, joining Aleafia's two existing business pillars - cannabis cultivation and medical clinic operations.

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