NEW YORK, August 16, 2018 /PRNewswire/ --
According to a research report provided by Marijuana Business Daily, cannabis retail sales continue to increase year-over-year as more states legalize cannabis products for both medical and recreational purposes. Sales in 2018 are expected to increase by approximately 50% when compared to 2017. Sales value is also on track to reach USD 8 Billion - USD 10 Billion by the end of 2018. In addition, the report specifies that by 2022, annual retail cannabis sales in the United States could exceed the USD 20 Billion mark, representing a 200% surge from 2017. Legal cannabis markets are presently on the rise in major states such as California, Nevada, Colorado and Washington, amongst others. WeedMD Inc. (OTC: WDDMF), GW Pharmaceuticals plc (NASDAQ: GWPH), Canopy Growth Corporation (NYSE: CGC), Aurora Cannabis Inc. (OTC: ACBFF), Organigram Holdings Inc. (OTC: OGRMF)
Recent legislative successes for the cannabis market are projected to have a decidedly positive effect on the economy. "The cannabis sector currently employs an estimated 125,000 to 160,000 full-time workers," industry analyst and Editorial Vice President of MJBizDaily, Chris Walsh, explained at The Marijuana Business Conference & Expo, according to a report from Fortune. "To put this in perspective, there are potentially more full-time marijuana industry workers than there are librarians or kindergarten teachers throughout the country - and over 6 times the number of coal miners in the U.S."
WeedMD Inc. (OTC: WDDMF) is also listed on the Toronto Stock Exchange Venture under (TSX-V: WMD). Yesterday, the Company announced the, "signing of a final definitive joint venture agreement ("Agreement") to develop and operate Cannabis Beverages Inc. ("CanBev") at WeedMD's state-of-the-art greenhouse facility in Strathroy, Ontario.
As an early mover in the cannabis-infused beverage market, CanBev is positioning itself to capture significant market share in Canada's highly-anticipated consumable cannabis market. According to Consumer Health Products Canada, the CBD-infused products market is worth USD 5.6 Billion in Canada alone. The joint venture will be focused on product development, manufacturing, marketing and distribution of cannabis-infused beverages for Canada and export to licensed international markets.
Under the terms of the Agreement, both companies will be strategic partners in the development of CanBev. WeedMD will act as the exclusive supplier of cannabinoid extracts for use in innovative cannabis-infused consumer products to be made at the CanBev facility. In doing so, WeedMD will designate manufacturing space at its 610,000 sq. ft. state-of-the-art licensed cultivation and processing facility located in Strathroy, Ontario.
In addition to supplying CanBev with premium, high-quality cannabis, WeedMD will assist CanBev with obtaining all necessary federal licenses and permits and has also agreed to provide all current and future genetics.
'We are thrilled to begin the development of this joint venture. With the launch of CanBev, WeedMD will be one of the first to introduce an innovative and popular consumption method with our cannabis-infused beverages - adding a new brand category for the medical and adult-use markets,' said Keith Merker, CEO of WeedMD. 'WeedMD is proud to collaborate with Phivida on this joint venture and to work alongside a world-class management team that includes former senior executives from beverage and other industry leaders who worked for Red Bull®, Seagram's®, Proctor and Gamble®, and McKesson. Leveraging proven success, we will be well-positioned to execute on our growth plans for infused beverages.'
Phivida will be sublicensing its current and future trademarks, intellectual property, branding and packaging to CanBev. Phivida has also agreed to lead new product innovation, research and development, formulation, packaging and branding for CanBev.
'The Phivida team is excited to contribute our management, expertise and product knowledge to the CanBev joint venture,' said Jim Bailey, CEO and President of Phivida. 'WeedMD is an ideal partner for Phivida and we are thrilled to bring our cannabinoid-infused beverages and brands back home to Canada. WeedMD provides CanBev with solid infrastructure, strong management, world-class genetics and proven success in the Canadian healthcare market. We are very proud to partner with best in class among the Canadian licensed producers.'
Transaction Summary: The joint venture will be structured as a jointly-owned company with a dedicated board of directors and operational management team. Phivida and WeedMD will retain 50% each of the Class A shares. The shares issued will correspond to CanBev's appointment of nominees to a Board of Directors- to be made up of five individuals, two nominated by Phivida, two by WeedMD, and one independent director. Phivida and WeedMD have agreed to fund capital requirements of CanBev equally, and on a pro-rata basis, from their respective treasuries, beginning with initial shareholder advances of USD 375,000 each."
GW Pharmaceuticals plc (NASDAQ: GWPH) is the world leader in the development and commercialization of cannabinoid prescription medicines. The Company recently announced its financial results for the third quarter ended June 30th, 2018. Revenue for the nine months ended June 30th, of GBP 10.7 Million (USD 14.2 Million) compared to GBP 6.1 Million for the nine months ended June 30th, 2017. Loss for the nine months ended June 30th,2018 of GBP 136.7 million (USD 180.2 Million) compared to GBP 90.3 Million for the nine months ended June 30th, 2017. Operational highlights include: FDA approval for Epidiolex (cannabidiol) for the treatment of seizures associated with LGS or Dravet syndrome; Epidiolex rescheduling expected within 90 days of FDA approval; European submission under review by the EMA with decision expected in Q1 2019; FDA issuance of a priority review voucher (PRV) for Epidiolex. "The recent FDA approval of Epidiolex represents a major medical advance for patients with Lennox-Gastaut Syndrome and Dravet syndrome. We anticipate rescheduling to be completed within 90 days of FDA approval and for product launch to take place in the Fall," stated Justin Gover, GW's Chief Executive Officer.
Canopy Growth Corporation (NYSE: CGC) is a world-leading diversified cannabis company, offering distinct brands and curated cannabis varieties in dried, oil and capsule forms. Constellation Brands (NYSE: STZ and STZ.B), a leading beverage alcohol company, and Canopy Growth Corporation (NYSE: CGC), a leading diversified cannabis company, recently announced a significant expansion of their strategic partnership to position Canopy Growth as the global leader in cannabis production, branding, intellectual property and retailing. Canopy Growth will benefit from Constellation's deep understanding of consumer trends and shifting preferences, and proven ability to translate those insights into distinct brand positionings that build strong connections with consumers and foster brand loyalty. Constellation's disciplined approach and capabilities in areas such as mergers and acquisitions, finance, large-scale production, marketing and sales as a leading Fortune 500 company, combined with Canopy's entrepreneurial approach and best-in-class knowledge and expertise within the emerging cannabis sector create a powerful combination that will ensure Canopy Growth is set up for sustainable, long-term success as the company and sector evolve. "Our business can now make the strategic investments required to accelerate our market position globally," said Bruce Linton, Chairman and Co-Chief Executive Officer, Canopy Growth. "Constellation's concentration of global cannabis activities exclusively through Canopy, coupled with the investment and its expert capabilities in brand-building, marketing, consumer insights and M&A will be a huge benefit as we look to expand our portfolio in Canada, the United States and emerging cannabis markets around the globe. We view this investment in our business as an endorsement of our execution since forming our initial strategic relationship in October 2017."
Aurora Cannabis Inc. (OTCQX: ACBFF), headquartered in Edmonton, Alberta, Canada with funded capacity in excess of 570,000 kg per year and sales and operations in 14 countries across five continents, is one of the world's largest and leading cannabis companies. Aurora recently announced that its acquisition of Anandia Laboratories Inc. is now complete. The previously announced arrangement, under the provisions of the Business Corporations Act (British Columbia), means that among other things, Aurora has now acquired all of the issued and outstanding shares of Anandia in an all-share transaction. The acquisition of Anandia represents a critical piece of Aurora's vertical integration strategy - to create a company that captures margin along the entire cannabis industry value chain, enhances cultivation yields to improve financial performance, develops industry-leading intellectual property, and builds a broad portfolio of high value-added products. "This transaction will enable us to develop new, customized cultivars for specific applications, creating high-margin products that generate positive health outcomes in relation to specific medical indications, while further enhancing efficiencies at our facilities" said Terry Booth, Chief Executive Officer of Aurora.
Organigram Holdings Inc. (OTCQB: 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 recently announced that it will provide funding to Mount Allison to support the University's efforts to ensure the new legislation is fully communicated on campus, and to implement appropriate harms reduction initiatives established by the University. The funding provided by Organigram and the RDC also enables the University to support harms reduction education programming through the addition of a Harms Reduction Educator. This new Mount Allison staff member will begin in August and will work directly with students, the campus community, other post-secondary institutions, and provincial agencies. "As a company, we are wholly committed to the goals of the legalization of an adult-use, recreational cannabis market," says Greg Engel, Chief Executive Officer, Organigram. "Most important among these goals is the protection of our youth. We are proud to support Mount Allison's efforts to ensure their students are educated about responsible cannabis use."
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Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the 'Site') is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For WeedMD Inc. financial news dissemination and PR services, FinancialBuzz.com has been compensated five thousand dollars by the company. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.financialbuzz.com.
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According to a research report provided by Marijuana Business Daily, cannabis retail sales continue to increase year-over-year as more states legalize cannabis products for both medical and recreational purposes. Sales in 2018 are expected to increase by approximately 50% when compared to 2017. Sales value is also on track to reach USD 8 Billion - USD 10 Billion by the end of 2018. In addition, the report specifies that by 2022, annual retail cannabis sales in the United States could exceed the USD 20 Billion mark, representing a 200% surge from 2017. Legal cannabis markets are presently on the rise in major states such as California, Nevada, Colorado and Washington, amongst others. WeedMD Inc. (OTC: WDDMF), GW Pharmaceuticals plc (NASDAQ: GWPH), Canopy Growth Corporation (NYSE: CGC), Aurora Cannabis Inc. (OTC: ACBFF), Organigram Holdings Inc. (OTC: OGRMF)
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Recent legislative successes for the cannabis market are projected to have a decidedly positive effect on the economy. "The cannabis sector currently employs an estimated 125,000 to 160,000 full-time workers," industry analyst and Editorial Vice President of MJBizDaily, Chris Walsh, explained at The Marijuana Business Conference & Expo, according to a report from Fortune. "To put this in perspective, there are potentially more full-time marijuana industry workers than there are librarians or kindergarten teachers throughout the country - and over 6 times the number of coal miners in the U.S."
WeedMD Inc. (OTC: WDDMF) is also listed on the Toronto Stock Exchange Venture under (TSX-V: WMD). Yesterday, the Company announced the, "signing of a final definitive joint venture agreement ("Agreement") to develop and operate Cannabis Beverages Inc. ("CanBev") at WeedMD's state-of-the-art greenhouse facility in Strathroy, Ontario.
As an early mover in the cannabis-infused beverage market, CanBev is positioning itself to capture significant market share in Canada's highly-anticipated consumable cannabis market. According to Consumer Health Products Canada, the CBD-infused products market is worth USD 5.6 Billion in Canada alone. The joint venture will be focused on product development, manufacturing, marketing and distribution of cannabis-infused beverages for Canada and export to licensed international markets.
Under the terms of the Agreement, both companies will be strategic partners in the development of CanBev. WeedMD will act as the exclusive supplier of cannabinoid extracts for use in innovative cannabis-infused consumer products to be made at the CanBev facility. In doing so, WeedMD will designate manufacturing space at its 610,000 sq. ft. state-of-the-art licensed cultivation and processing facility located in Strathroy, Ontario.
In addition to supplying CanBev with premium, high-quality cannabis, WeedMD will assist CanBev with obtaining all necessary federal licenses and permits and has also agreed to provide all current and future genetics.
'We are thrilled to begin the development of this joint venture. With the launch of CanBev, WeedMD will be one of the first to introduce an innovative and popular consumption method with our cannabis-infused beverages - adding a new brand category for the medical and adult-use markets,' said Keith Merker, CEO of WeedMD. 'WeedMD is proud to collaborate with Phivida on this joint venture and to work alongside a world-class management team that includes former senior executives from beverage and other industry leaders who worked for Red Bull®, Seagram's®, Proctor and Gamble®, and McKesson. Leveraging proven success, we will be well-positioned to execute on our growth plans for infused beverages.'
Phivida will be sublicensing its current and future trademarks, intellectual property, branding and packaging to CanBev. Phivida has also agreed to lead new product innovation, research and development, formulation, packaging and branding for CanBev.
'The Phivida team is excited to contribute our management, expertise and product knowledge to the CanBev joint venture,' said Jim Bailey, CEO and President of Phivida. 'WeedMD is an ideal partner for Phivida and we are thrilled to bring our cannabinoid-infused beverages and brands back home to Canada. WeedMD provides CanBev with solid infrastructure, strong management, world-class genetics and proven success in the Canadian healthcare market. We are very proud to partner with best in class among the Canadian licensed producers.'
Transaction Summary: The joint venture will be structured as a jointly-owned company with a dedicated board of directors and operational management team. Phivida and WeedMD will retain 50% each of the Class A shares. The shares issued will correspond to CanBev's appointment of nominees to a Board of Directors- to be made up of five individuals, two nominated by Phivida, two by WeedMD, and one independent director. Phivida and WeedMD have agreed to fund capital requirements of CanBev equally, and on a pro-rata basis, from their respective treasuries, beginning with initial shareholder advances of USD 375,000 each."
GW Pharmaceuticals plc (NASDAQ: GWPH) is the world leader in the development and commercialization of cannabinoid prescription medicines. The Company recently announced its financial results for the third quarter ended June 30th, 2018. Revenue for the nine months ended June 30th, of GBP 10.7 Million (USD 14.2 Million) compared to GBP 6.1 Million for the nine months ended June 30th, 2017. Loss for the nine months ended June 30th,2018 of GBP 136.7 million (USD 180.2 Million) compared to GBP 90.3 Million for the nine months ended June 30th, 2017. Operational highlights include: FDA approval for Epidiolex (cannabidiol) for the treatment of seizures associated with LGS or Dravet syndrome; Epidiolex rescheduling expected within 90 days of FDA approval; European submission under review by the EMA with decision expected in Q1 2019; FDA issuance of a priority review voucher (PRV) for Epidiolex. "The recent FDA approval of Epidiolex represents a major medical advance for patients with Lennox-Gastaut Syndrome and Dravet syndrome. We anticipate rescheduling to be completed within 90 days of FDA approval and for product launch to take place in the Fall," stated Justin Gover, GW's Chief Executive Officer.
Canopy Growth Corporation (NYSE: CGC) is a world-leading diversified cannabis company, offering distinct brands and curated cannabis varieties in dried, oil and capsule forms. Constellation Brands (NYSE: STZ and STZ.B), a leading beverage alcohol company, and Canopy Growth Corporation (NYSE: CGC), a leading diversified cannabis company, recently announced a significant expansion of their strategic partnership to position Canopy Growth as the global leader in cannabis production, branding, intellectual property and retailing. Canopy Growth will benefit from Constellation's deep understanding of consumer trends and shifting preferences, and proven ability to translate those insights into distinct brand positionings that build strong connections with consumers and foster brand loyalty. Constellation's disciplined approach and capabilities in areas such as mergers and acquisitions, finance, large-scale production, marketing and sales as a leading Fortune 500 company, combined with Canopy's entrepreneurial approach and best-in-class knowledge and expertise within the emerging cannabis sector create a powerful combination that will ensure Canopy Growth is set up for sustainable, long-term success as the company and sector evolve. "Our business can now make the strategic investments required to accelerate our market position globally," said Bruce Linton, Chairman and Co-Chief Executive Officer, Canopy Growth. "Constellation's concentration of global cannabis activities exclusively through Canopy, coupled with the investment and its expert capabilities in brand-building, marketing, consumer insights and M&A will be a huge benefit as we look to expand our portfolio in Canada, the United States and emerging cannabis markets around the globe. We view this investment in our business as an endorsement of our execution since forming our initial strategic relationship in October 2017."
Aurora Cannabis Inc. (OTCQX: ACBFF), headquartered in Edmonton, Alberta, Canada with funded capacity in excess of 570,000 kg per year and sales and operations in 14 countries across five continents, is one of the world's largest and leading cannabis companies. Aurora recently announced that its acquisition of Anandia Laboratories Inc. is now complete. The previously announced arrangement, under the provisions of the Business Corporations Act (British Columbia), means that among other things, Aurora has now acquired all of the issued and outstanding shares of Anandia in an all-share transaction. The acquisition of Anandia represents a critical piece of Aurora's vertical integration strategy - to create a company that captures margin along the entire cannabis industry value chain, enhances cultivation yields to improve financial performance, develops industry-leading intellectual property, and builds a broad portfolio of high value-added products. "This transaction will enable us to develop new, customized cultivars for specific applications, creating high-margin products that generate positive health outcomes in relation to specific medical indications, while further enhancing efficiencies at our facilities" said Terry Booth, Chief Executive Officer of Aurora.
Organigram Holdings Inc. (OTCQB: 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 recently announced that it will provide funding to Mount Allison to support the University's efforts to ensure the new legislation is fully communicated on campus, and to implement appropriate harms reduction initiatives established by the University. The funding provided by Organigram and the RDC also enables the University to support harms reduction education programming through the addition of a Harms Reduction Educator. This new Mount Allison staff member will begin in August and will work directly with students, the campus community, other post-secondary institutions, and provincial agencies. "As a company, we are wholly committed to the goals of the legalization of an adult-use, recreational cannabis market," says Greg Engel, Chief Executive Officer, Organigram. "Most important among these goals is the protection of our youth. We are proud to support Mount Allison's efforts to ensure their students are educated about responsible cannabis use."
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About FinancialBuzz.com
FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.
Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the 'Site') is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For WeedMD Inc. financial news dissemination and PR services, FinancialBuzz.com has been compensated five thousand dollars by the company. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.financialbuzz.com.
For further information: Media Contact: [email protected] Tel.: +1-877-601-1879 Url: http://www.FinancialBuzz.com
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