NEW YORK, November 30, 2017 /PRNewswire/ --
According to Hexa Research, the U.S. medical cannabis market size was valued at USD $5.44 Billion in 2016 and is expected to hit USD $19.48 billion by 2024. The industry is expected to witness rapid growth during the forecast period due to the numerous medical benefits of cannabis products and the accelerating pace of legalization of such products in the United States. In 2016, sales of cannabis for medical purposes are legal in 28 states, including California, Colorado, Washington, Arizona, Michigan and others. California is leading in the medical cannabis market in the U.S. It accounted for 45.4 percent of the market in 2016. Vanc Pharmaceuticals, Inc. (OTC: NUVPF), Emerald Health Therapeutics, Inc. (OTC: EMHTF), Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE), Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP), 22nd Century Group Inc. (NYSE: XXII)
The report also indicated that the increasing demand for medical cannabis is due to the increasing ageing population. In 2016, rising number of patients diagnosed with chronic pain has resulted in increasing use of cannabis. The report estimated that the demand for medical cannabis for arthritis will grow at a CAGR of 17.8% over the projected period as it forecasted more adults and children will have arthritis. Cannabis infused edibles is also expected to grow at a CAGR of 17.8% over the forecast period.
Vanc Pharmaceuticals, Inc. (OTCQB: NUVPF) is also listed on the TSX Venture Exchange under the ticker symbol 'VANC'. Yesterday 1,666,6667 units of Vanc Pharmaceuticals were acquired by Emerald Health Therapeutics, Inc. (OTCQX: EMHTF). In a press release published on November 29th, Emerald Health Therapeutics announced that, "it acquired today 1,666,6667 units (the "Units") of Vanc Pharmaceuticals Inc. ("Vanc") of Suite 810 - 789 West Pender Street, Vancouver, British Columbia, V6C 1H2 at a price of $0.15 per Unit pursuant to a private placement offering (the "Transaction"). Each Unit consists of one common share of Vanc (a "Share") and one common share purchase warrant. Each whole warrant entitles the holder thereof to purchase one additional Share for a period of 60 months at an exercise price of $0.20.
Immediately before the Transaction, the Company had ownership of nil Shares. Following the Transaction, the Company held ownership of 1,666,667 Shares representing approximately 6.51% of the issued and outstanding Shares. The Company also holds 1,666,667 share purchase warrants for the purchase of an additional 1,666,667 Shares. Assuming the exercise of the warrants, the Company would own a total of 3,333,334 Shares, or approximately 12.23% of Vanc's then issued and outstanding share capital assuming no other Shares are issued.
Emerald acquired the Units for investment purposes. The Company may sell its Shares either on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors. This news release is being issued pursuant to Part 3 of National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues of the Canadian Securities Administrators. A copy of the report filed by Emerald in connection with the acquisition of the Units is available on Vanc's SEDAR profile, and it can also be obtained directly from the Company."
Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE) is a clinical-stage specialty pharmaceutical company dedicated to developing and commercializing innovative pharmaceutically-produced transdermal cannabinoid treatments for patients with high unmet medical needs. Zynerba's ZYN002 CBD gel is the first and only pharmaceutically-produced CBD formulated as a patent-protected permeation-enhanced gel and is being studied in children with Fragile X Syndrome, osteoarthritis and in adult epilepsy patients with focal seizures. ZYN002 is a clear, permeation-enhanced gel that is designed to provide controlled drug delivery transdermally with once- or twice-daily dosing. Recently, the company announced the acceptance and presentation details of a Late Breaking poster at the 2017 Annual Meeting of the American Epilepsy Society (AES) in Washington, DC, taking place December 1 through December 5, 2017. 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. The Company's lead product candidate, anabasum, is a novel synthetic oral endocannabinoid-mimetic drug designed to resolve chronic inflammation and fibrotic processes. Recently, the company announced that the U.S. Patent and Trademark Office ("USPTO") issued U.S. Patent No. 9,820,964 to the Company with claims covering the use of pharmaceutical compositions comprising anabasum for the treatment of multiple fibrotic diseases, including the Company's lead indications: systemic sclerosis, dermatomyositis, cystic fibrosis as well as others. The patent provides intellectual property protection in the United States for the use of anabasum through 2034.
22nd Century Group Inc. (NYSE: XXII) is a plant biotechnology company focused on genetic engineering and plant breeding which allows the increase or decrease of the level of nicotine in tobacco plants and the level of cannabinoids in cannabis/hemp plants. The Company's primary mission in cannabis is to develop proprietary hemp/cannabis strains for important new medicines and agricultural crops. n September 2014, 22nd Century's wholly-owned subsidiary, Botanical Genetics, LLC, entered into a worldwide license agreement with Anandia Laboratories Inc. Under the terms of the agreement, our Company was granted an exclusive sublicense in the United States and a co-exclusive sublicense in the remainder of the world, excluding Canada, to patents and patent applications relating to the cannabis plant that are required for the production of cannabinoids, the major active ingredients in the cannabis plant. The Anandia sublicense continues through the life of the last to expire patent, which is expected to be 2035.
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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. Financialbuzz.com has not been compensated directly by any of the companies mentioned here in this editorial. 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 this release, FinancialBuzz.com has been compensated five thousand dollars for financial news dissemination and PR services by vanc pharmaceuticals inc. 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 Hexa Research, the U.S. medical cannabis market size was valued at USD $5.44 Billion in 2016 and is expected to hit USD $19.48 billion by 2024. The industry is expected to witness rapid growth during the forecast period due to the numerous medical benefits of cannabis products and the accelerating pace of legalization of such products in the United States. In 2016, sales of cannabis for medical purposes are legal in 28 states, including California, Colorado, Washington, Arizona, Michigan and others. California is leading in the medical cannabis market in the U.S. It accounted for 45.4 percent of the market in 2016. Vanc Pharmaceuticals, Inc. (OTC: NUVPF), Emerald Health Therapeutics, Inc. (OTC: EMHTF), Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE), Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP), 22nd Century Group Inc. (NYSE: XXII)
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The report also indicated that the increasing demand for medical cannabis is due to the increasing ageing population. In 2016, rising number of patients diagnosed with chronic pain has resulted in increasing use of cannabis. The report estimated that the demand for medical cannabis for arthritis will grow at a CAGR of 17.8% over the projected period as it forecasted more adults and children will have arthritis. Cannabis infused edibles is also expected to grow at a CAGR of 17.8% over the forecast period.
Vanc Pharmaceuticals, Inc. (OTCQB: NUVPF) is also listed on the TSX Venture Exchange under the ticker symbol 'VANC'. Yesterday 1,666,6667 units of Vanc Pharmaceuticals were acquired by Emerald Health Therapeutics, Inc. (OTCQX: EMHTF). In a press release published on November 29th, Emerald Health Therapeutics announced that, "it acquired today 1,666,6667 units (the "Units") of Vanc Pharmaceuticals Inc. ("Vanc") of Suite 810 - 789 West Pender Street, Vancouver, British Columbia, V6C 1H2 at a price of $0.15 per Unit pursuant to a private placement offering (the "Transaction"). Each Unit consists of one common share of Vanc (a "Share") and one common share purchase warrant. Each whole warrant entitles the holder thereof to purchase one additional Share for a period of 60 months at an exercise price of $0.20.
Immediately before the Transaction, the Company had ownership of nil Shares. Following the Transaction, the Company held ownership of 1,666,667 Shares representing approximately 6.51% of the issued and outstanding Shares. The Company also holds 1,666,667 share purchase warrants for the purchase of an additional 1,666,667 Shares. Assuming the exercise of the warrants, the Company would own a total of 3,333,334 Shares, or approximately 12.23% of Vanc's then issued and outstanding share capital assuming no other Shares are issued.
Emerald acquired the Units for investment purposes. The Company may sell its Shares either on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors. This news release is being issued pursuant to Part 3 of National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues of the Canadian Securities Administrators. A copy of the report filed by Emerald in connection with the acquisition of the Units is available on Vanc's SEDAR profile, and it can also be obtained directly from the Company."
Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE) is a clinical-stage specialty pharmaceutical company dedicated to developing and commercializing innovative pharmaceutically-produced transdermal cannabinoid treatments for patients with high unmet medical needs. Zynerba's ZYN002 CBD gel is the first and only pharmaceutically-produced CBD formulated as a patent-protected permeation-enhanced gel and is being studied in children with Fragile X Syndrome, osteoarthritis and in adult epilepsy patients with focal seizures. ZYN002 is a clear, permeation-enhanced gel that is designed to provide controlled drug delivery transdermally with once- or twice-daily dosing. Recently, the company announced the acceptance and presentation details of a Late Breaking poster at the 2017 Annual Meeting of the American Epilepsy Society (AES) in Washington, DC, taking place December 1 through December 5, 2017. 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. The Company's lead product candidate, anabasum, is a novel synthetic oral endocannabinoid-mimetic drug designed to resolve chronic inflammation and fibrotic processes. Recently, the company announced that the U.S. Patent and Trademark Office ("USPTO") issued U.S. Patent No. 9,820,964 to the Company with claims covering the use of pharmaceutical compositions comprising anabasum for the treatment of multiple fibrotic diseases, including the Company's lead indications: systemic sclerosis, dermatomyositis, cystic fibrosis as well as others. The patent provides intellectual property protection in the United States for the use of anabasum through 2034.
22nd Century Group Inc. (NYSE: XXII) is a plant biotechnology company focused on genetic engineering and plant breeding which allows the increase or decrease of the level of nicotine in tobacco plants and the level of cannabinoids in cannabis/hemp plants. The Company's primary mission in cannabis is to develop proprietary hemp/cannabis strains for important new medicines and agricultural crops. n September 2014, 22nd Century's wholly-owned subsidiary, Botanical Genetics, LLC, entered into a worldwide license agreement with Anandia Laboratories Inc. Under the terms of the agreement, our Company was granted an exclusive sublicense in the United States and a co-exclusive sublicense in the remainder of the world, excluding Canada, to patents and patent applications relating to the cannabis plant that are required for the production of cannabinoids, the major active ingredients in the cannabis plant. The Anandia sublicense continues through the life of the last to expire patent, which is expected to be 2035.
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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. Financialbuzz.com has not been compensated directly by any of the companies mentioned here in this editorial. 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 this release, FinancialBuzz.com has been compensated five thousand dollars for financial news dissemination and PR services by vanc pharmaceuticals inc. 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] +1-877-601-1879
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