NEW YORK, August 2, 2018 /PRNewswire/ --
According to research byGrand View Research, the global legal cannabis market is projected to reach USD 146.4 billion by end of 2025. Increasing acceptance of cannabis products for various medical applications such as cancer, mental disorders,
Tracking consumer spending trends reveal the state of the the cannabis industry by region. Tom Adams, Editor-in-Chief at Arcview Market Research and Principal Analyst at BDS Analytics explained that, "California gets the media attention and Canada gets the investment dollars as they allow adult use, but Germany's move to make cannabis flower available for medical use in pharmacies was really the big news of 2017 from a worldwide perspective… The tables have turned in favor of legalization across the world and we predict that the trend will spread as research continues to support cannabis' effectiveness as a medication." Germany positioned itself as the leader of the European market, while Italy is expected to be the second-ranked cannabis market on the continent with USD 1.2 billion in sales by 2027.
Crop Infrastructure Corp. (OTC: CRXPF) is also listed on the Canadian Securities Exchange under the ticker (CSE: CROP). Just earlier today, the company announced breaking news that, "the company's Joint Venture; Xhemplar hemp farm in Italy. The 25-acre property was planted less than 50 days ago, has now produced approximately 600,000 healthy hemp plants. The plants are expected to be harvested in the next 20 days.
Furthermore, the joint venture has erected three drying facilities in the preparation for saleable dried hemp biomass. The company has also identified multiple locations for an extraction facility.
The Joint Venture's high CBD hemp will be sold as biomass or processed into CBD isolate for international markets. The joint venture's products will be branded under XHemplar and CROP brands Tiffany CBD and Hempire Italia.
According to Arcview Market Research and its partner, BDS Analytics, government-subsidized health care spending (worldwide market at $1.3-trillion) is expected to make Europe among the fastest growing and largest medical cannabis markets in the world. Arcview expects Italy to be the second largest cannabis market in Europe by 2027 with $1.2 billion in sales.
CROP Infrastructure Director & CEO Michael Yorke states: "The company is extremely encouraged by the fast pace of our partners at XHemplar having advanced into production in Italy. CROPs portfolio of cannabis infrastructure assets now includes cultivation properties in California, Washington State, Nevada, Italy, Jamaica. CROP also holds minority interests in West Hollywood and San Bernardino dispensary applications. Management will continue to aggressively pursue new international opportunities and expand its portfolio of tenant growers and infrastructure assets in strategic jurisdictions."
XHemplar Chairman and CROP Infrastructure VP of M&A, EMEA Andrea Castiglione states: "We're looking forward to CROP building out the extraction facility and unlocking the true value of the hemp plant. In 2019 we will look to increase the scale of our operations and asset base in Italy with CROP Infrastructure."
MassRoots, Inc. (OTCQB: MSRT) is one of the leading technology platforms for the regulated cannabis industry. Powered by more than one million registered users, the Company's mobile apps empower consumers to make educated cannabis purchasing decisions through community-driven reviews. MassRoots, Inc. ("MassRoots" or the "Company"), announced on June 20th, 2018 that it has launched its revamped dispensary portal, MassRoots for Business, accessible at business.massroots.com. Through this business portal, dispensaries are able to list locations on MassRoots' dispensary finder, update key information in real-time, and view insightful analytics on their local cannabis market. Subscriptions to MassRoots' business portal start at USD 420 per month, per dispensary location with a twelve-month minimum contract. According to New Frontier Data, there are currently 2,488 licensed dispensary locations in the United States. We believe that if MassRoots is able to engage several hundred in listing contracts, it could be a significant source of revenue and growth for the company. "We expect that subscriptions to MassRoots for Business will be our primary source of revenue this year," stated MassRoots' Chief Executive Officer Isaac Dietrich. "We believe our dispensary portal has the ability to drive a new source of traffic to our dispensary clients and empower them with insightful analytics to better run their business."
PotNetwork Holdings, Inc. (OTC: POTN) is a publicly traded company that acts as a holding company for its subsidiaries, First Capital Venture Co., the owner of Diamond CBD, Inc., the maker of Diamond CBD oils. PotNetwork Holdings, Inc. (OTC: POTN) is announced on July 25th, 2018 that its subsidiary, Diamond CBD, Inc., achieved revenues of over USD 2 Million, continuing its trend of reaching record new heights, a gain of over 80% when compared year over year. Diamond CBD focuses on the research, development, and multinational marketing of premium hemp extracts that contain a broad range of cannabinoids and natural hemp derivatives. Diamond CBD's team consists of hemp industry pioneers and natural product experts, chemists, doctors and scientists, dedicated to producing the finest and purest cannabidiol (CBD) oils. The result is a robust selection considered among the most powerful natural CBD oils, tinctures, edibles, and vape liquids found anywhere. Diamond CBD's consistent trend of breaking sales records is the result of its continued expansion of innovative product lines, and results-oriented market diversification and sales strategies that continue to broaden its distribution footprint and consumer brand preference for its products.
Future Farm Technologies Inc. (OTCQX: FFRMF) is a Canadian company with holdings throughout North America, whose mission is to advance sustainable agriculture through production of wholesale and retail cannabis products, including hemp. Future Farm Technologies Inc. (the "Company" or "Future Farm") announced on July 26th, 2018 that its partial subsidiary, NexTech AR Solutions ("NexTech"), and ARHT Media Inc. ("ARHT") (TSXV: ART) (OTCBB: ARHTF) have signed a worldwide exclusive license agreement to bring ARHT's patented holographic display technology to the cannabis industry. According to Arcview Market Research, the North American cannabis market is estimated to grow from USD 9.2 Billion in 2017 to USD 47 Billion by 2027. With this level of growth, NextTech believes that this holographic technology is both needed and ready for cannabis market deployment. "While we are making great inroads into the traditional retail, education, events and entertainment markets, we see the cannabis market as another big opportunity for our technology and are excited to work with NexTech to make this happen," commented Larry O'Reilly, ARHT's Chief Executive Officer. "Our holographic displays and telepresence technology are a natural fit to take cannabis retailing to a whole new level. With this agreement in place, we have the potential to be in hundreds of locations in North America over the next few years."
Namaste Technologies Inc (OTCQB: NXTTF) operates the largest global cannabis e-commerce platform with over 30 websites in 20+ countries under various brands. Earlier in July the company announced net revenues for the three months ended May 31, 2018 were $4.1 million (2017 - $3.1 million), which is an increase of $1.0 million or 32% as compared to the three months ended May 31, 2017. The increase in net revenues during the third quarter of 2018 was primarily due to organic growth in the Company. Kenneth Ngo, CFO of Namaste comments: "We are pleased to see a 32% increase in quarterly revenue compared to the same period last year, due to organic growth in the Company's vaporizer business. The Q3 results are very encouraging especially considering that Namaste divested its U.S assets and revenue which accounted for 14.4% of the total revenue during Q3 of 2017. The acquisition of Findify AB in the quarter was the largest acquisition to date in the history of Namaste. This acquisition will bring significant value to Namaste and its shareholders by accelerating the Company's growth in revenue."
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