NEW YORK, July 6, 2018 /PRNewswire/ --
According to a recent reportpublished by Forbes, Brightfield Group indicated that the global cannabis market was valued at about USD 7.7 Billion at the end of 2017 and is projected to cross the USD 30 Billion benchmark
As a result of the strong sales figures across the industry, investments in cannabis are increasing. A report by Business Insider indicates that, "Venture-capital investors from around the world spent USD 355 Million on 100 marijuana-industry deals in 2017, and 2018 is on pace to break last year's record. By the end of February, there were 19 venture-backed deals in the industry worth USD 176 Million alone, and that doesn't factor in the money investors have poured into hedge funds set up to take advantage of the budding industry."
Crop Infrastructure Corp. (OTC: CRXPF) is also listed on the Canadian Securities Exchange under the ticker (CSE: CROP). Yesterday the Company announced that, "it has entered into an agreement with Ocean Green Management LLC of California, to partner on multiple applications for Cannabis Retail locations with the option to purchase the commercial real estate. The Company has agreed to finance the purchase of real estate on the grant of a license. The dispensaries will operate under the brand: Emerald Heights.
Combined with the Company's 'Emerald Triangle' cannabis production facility currently tenanted by Hempire, these dispensaries would enable CROP tenants to vertically integrate themselves to maximize return on investment. Both location applications have been designed using professional designers and branding agencies to the requirements of the state. The Company's production facility currently consists of a 10,000 sq. ft. medicinal cannabis greenhouse facility and an additional 20,000 sq. ft. of recreational licensed canopy.
According to a report from BDS Analytics, sales of cannabis in California is expected to hit USD 3.7 Billion in 2018 alone, with that number expected to grow to USD 5.1 Billion in 2019 as more dispensaries come online."
CROP Infrastructure Director & CEO, Michael Yorke, states, "CROP's goal is to be a vertically integrated company and to have investment exposure in all levels of the supply chain. We look forward to the partnership with Ocean Green and will continue on working on our application with an objective of having retail locations for our tenant brands in California as well as other states and countries where CROP is present."
Kush Bottles Inc. (OTCQB: KSHB) is a dynamic sales platform that provides unique products and services for both businesses and consumers in the cannabis industry including cannabidiol ("CBD") manufacturers. Kush Bottles recently announced that it has launched new labeling, printing and in-house application capabilities that will shorten the turnaround time on production, eliminate the need for customers to work with multiple vendors and further reinforce the Company's commitment to being a fully integrated partner for clients. With the new capabilities, Kush Bottles will now have all its own equipment, tooling and materials necessary to process its customers' customized packaging needs. The Company also announced that is has hired packaging industry veteran, Mike Alejos, as Director of Production to oversee the new labeling capabilities. "The addition of these advanced labeling capabilities speaks directly to the true 'one-stop-shop' nature of Kush Bottles," said Nick Kovacevich, Kush Bottles' Chief Executive Officer. "As we continue to diversify our offerings, we are adding value and economies of scale for our customer base. For example, we can now take what used to be a two-three-week turnaround time and reduce that by up to two-thirds. The more nimble we can be and the more we can take on for our customers, the quicker they can get their products to market."
Organigram Holdings Inc. (OTCQB: OGRMF) is a TSX Venture Exchange listed company whose wholly owned subsidiary, Organigram Inc., is a licensed producer of medical marijuana in Canada. Recently announced that it has signed a supply agreement with the Alberta Gaming, Liquor & Cannabis Commission (AGLC) in anticipation of the launch of a legal, adult use recreational cannabis market in the Province of Alberta. The AGLC supply agreement follows Organigram's three previously announced provincial arrangements: In 2017, Organigram signed an MOU with the Government of New Brunswick to supply a minimum of 5 Million grams of cannabis a year. The agreement has an estimated retail value of between USD 40 Million to USD 60 Million per year; In 2018, the Company also signed an MOU with the Prince Edward Island Liquor Control Commission for the distribution of cannabis to the province's adult recreational market. That agreement is estimated to have a retail value of between USD 8 Million to USD 12 Million per year; Organigram also recently secured a supplier agreement with the province of Manitoba, to supply Manitoba private retailers and their consumers. "We are pleased to finalize this agreement with AGLC," says Greg Engel, Organigram's Chief Executive Officer. "We applaud the province's efforts to secure a high-quality, dependable inventory for their recreational cannabis market and are proud to have been selected as an AGLC partner."
Aphria Inc. (OTCQB: APHQF) is a leading global cannabis company driven by an unrelenting commitment to our people, product quality and innovation. Earlier this month, the Company announced that it has signed a Supply 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. Under the terms of the Agreement, the AGLC has placed an opening order of 870 kg to be supplied from across the full portfolio of Aphria's adult-use brands and products, including dried flower, pre-rolls and cannabis oils. Once additional product categories, such as vapes and edibles, are authorized under the Cannabis Act, it is anticipated that they will also be made for sale throughout the province, further enhancing the Company's assortment of offerings in this market. "As we prepare for legal sales in October, this agreement represents yet another key milestone in our progress as we make Canadian history," said Vic Neufeld, Chief Executive Officer at Aphria. "We are ready to meet the needs of Albertans as well as those across Canada with our annual production capacity that will reach 255,000 kg in early 2019. Additionally, we are prepared to service 100% of Alberta's retailers from Day 1 through our recently announced partnership with Great North Distributors, in addition to supplying Alberta's only legal online store for adult-use cannabis at http://www.albertacannabis.org."
CV Sciences Inc. (OTCQB: CVSI) is a life science company that operates through two segments, specialty pharmaceuticals and consumer products. The Company recently announced that it has issued a letter to its shareholders, providing an update on its recent progress and upcoming objectives. Highlights of the Letter include: Expansion of the Company's footprint in the CBD product market with its PlusCBD Oil™ hemp-based CBD products rated #1 in the natural products retailer sales channel. This market opportunity is forecasted at USD 2.5 Billion by 2022; Updates on its drug development efforts, its proprietary patent-pending drug candidate (CVSI-007) to treat smokeless tobacco addiction, a USD 2 Billion market opportunity. The Company's Chief Executive Officer, Joseph Dowling, commented, "Our uplist initiative to a major national exchange is an important Company objective. The national exchanges require that a listed company's stock price trade at certain levels for acceptance. We have included a proposal for a shareholder vote at our AGM on August 4th, 2018, for a reverse stock split, which has as its sole purpose clearing a pathway for the Company to "uplist" to a major national exchange. The Company will effectuate the reverse split only in connection with an application to uplist to a major exchange, and only if necessary."
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