NEW YORK, August 9, 2018 /PRNewswire/ --
According to a researchreport by Mordor Intelligence, the global cannabis market was valued at USD 7.7 Billion in the year 2016 and is expected to reach USD 65 Billion by the year 2023, while registering a healthy
On June 19th, Canada had legalized cannabis on a national level, and is now the first G20 nation to do so. A research by PwC indicates that more than 100 licensed producers (LPs) already populate Canada's cannabis landscape, with hundreds more awaiting government approval. Most LPs are still in startup mode, despite being in operation for a few years. Darren Henderson, Partner at PwC Canada's Technology, InfoComm, and Entertainment & Media consulting explained, "The cannabis industry is blossoming. With the upcoming legalization of cannabis for recreational use by the Federal Government, the sector is expected to grow as producers, manufacturers, and companies from across the value chain embrace opportunities in both the recreational and medical markets."
Crop Infrastructure Corp. (OTC: CRXPF) is also listed on the Canadian Securities Exchange under the ticker (CSE: CROP). Just earlier today, the Company announced that, "its tenant at the Humboldt County California property has started harvesting 10,000 sq. ft. of greenhouses.
The operation began in the first of five 2,000 sq. ft. greenhouses and the remaining four greenhouses will be harvested at the rate of one per week. As each greenhouse is harvested new starter plants will populate the canopy space. Once the crops have all been taken down an additional 20,000 sq. ft of canopy crop will be harvested at which time the plants should be mature.
CROP Infrastructure Director & CEO, Michael Yorke, states, "This is an exciting time at CROP as our California property's tenact reaches its first harvest. First production is always a very important milestone as the results will be analyzed closely and will give an indication of what is not only achievable long term on this property, but also similar ones."
About Humboldt Holdings LLC: Located in Humboldt County, California the property is 8.46 acres and currently houses a 10,000 sq. ft. greenhouse as well as a barn, garage and residence. On site are five 5,000-gallon water tanks, a well and pump house and a 30 x 60 ft. drying shed. The property is zoned for a 10,000 sq. ft. medical and a 20,000 sq. ft. recreational cannabis license."
General Cannabis Corp. (OTCQX: CANN) is the comprehensive national resource for the highest quality service providers available to the regulated cannabis industry. The Company recently announced its financial results for the quarter ended June 30th, 2018. "We broke the USD 1 Million revenue ceiling in the second quarter of 2018, with revenues of USD 1,114,541, an increase of 34% over 2017. Year to date revenues increased 32% in 2018 over 2017," said Robert Frichtel, Chief Executive Officer of General Cannabis. "Our Operations segment continues to find opportunities from the expansion of legalized cannabis in numerous states, our Security segment is gaining traction in California, and Chiefton's apparel business is achieving broader, national success," said Robert Frichtel Chief Executive Officer, General Cannabis Corp. "With a suite of goods and services for customers across the cannabis industry, we are realizing the benefit of providing a synergistic set of solutions to help cannabis businesses realize their growth potential," said Joe Hodas, Chief Operating Officer of General Cannabis. "Our revenue growth reflects the effectiveness of our focus on driving sales and the quality of our deliverables. In addition, I am proud to share that we became founding members of the Cannabis Trade Federation in the second quarter, which is a tangible demonstration of our belief in the importance of supporting the industry by driving legislation favorable to its continued expansion," continued Joe Hodas, Chief Operating Officer, General Cannabis.
iAnthus Capital Holdings Inc. (OTCQB: ITHUF) owns and operates best-in-class licensed cannabis cultivation, processing and dispensary facilities throughout the United States, providing investors diversified exposure to the U.S. regulated cannabis industry. iAnthus recently announced that its wholly-owned subsidiary, Citiva Medical LLC, has begun construction on its 39,500 sq. ft. medical cannabis cultivation and processing facility, located at the former Mid-Orange State Correctional Facility in the Town of Warwick, New York. Citiva, one of only ten New York State licensed medical cannabis Registered Organizations, received its license to operate one cultivation/processing facility and four dispensaries on August 1st, 2017. The facility will implement high-end technology and cultivation practices to maximize efficiencies and production, including a positive pressure air system, mobile containers, desiccant dehumidification systems, acrylic glazing, and a unified program for environmental, irrigation and lighting controls. These state-of-the-art processes will enable perpetual harvesting, with an estimated yearly production of 2,400 kg of medical cannabis.
22nd Century Group Inc. (NYSE: XXII) is a plant biotechnology company focused on technology which allows it to increase or decrease the level of nicotine in tobacco plants and the level of cannabinoids in hemp/cannabis plants through genetic engineering and plant breeding. The Company recently announced its second quarter 2018 financial results. With net sales revenue of more than USD 6.9 Million, 22nd Century posted another record quarter. At the same time, 22nd Century significantly increased spending - to more than USD 2.7 Million this quarter - on the Company's Modified Risk Tobacco Product ("MRTP") application to the U.S. Food and Drug Administration ("FDA") for "BRAND A" Very Low Nicotine cigarettes. As of June 30th, 2018, the Company had more than USD 53 Million in cash and short-term investments, which are sufficient reserves to meet regular operating expenses for a number of years. On June 25th, 2018, 22nd Century announced that it was added to the Russell 2000, Russell 3000, and Russell Global Indexes when FTSE Russell reconstituted its U.S. and global equity indexes on June 22nd, 2018.
Invictus MD Strategies Corp. (OTCQX: IVITF) is a global cannabis company offering a selection of products under a wide range of lifestyle brands. Invictus' integrated sales approach is defined by five pillars of distribution including medical, wholesale, international, Licensed Producer to Licensed Producer and retail. Recently, the Company had announced that is has signed a commitment letter for a USD 25.5 Million debt financing arrangement with an interest rate at prime plus 2% per annum with ATB Financial ("ATB") to accelerate the construction of its Phase 3 and Phase 4 cannabis cultivation facilities at Acreage Pharms Ltd., located in West-Central Alberta. The Expansion Plan will add a total of 180,000 sq. ft. of production capacity to Acreage Pharms. "We're ramping up production for the adult-use market in Canada" said Dan Kriznic, Chairman and Chief Executive Officer of Invictus. "As a fast-growing cannabis company, Invictus is aiming to further strengthen its stake in the marketplace with continued development of construction projects, quality products and retail presence. It's great to see traditional lenders coming into the cannabis space and ATB has proven to be a long-term partner that will not only help finance the Expansion Plan at Acreage Pharms but will also finance other expansion plans as they come to fruition."
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