Data Projects North American Medical and Legal Cannabis Value to Grow at a Fast Rate

Thursday, July 12, 2018 Drug News
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NEW YORK, July 12, 2018 /PRNewswire/ --

According to research published

by Oristep Consulting, the global medical cannabis market was valued at USD 12.67 Billion in 2016 and will reach USD 33.41 Billion by 2022, while growing at a CAGR of 17.53% during the forecast
period. The two main cannabinoids from the cannabis plant are THC and CBD, both of which are used as treatments for various conditions such as lack of appetite, nausea, pain, inflammation (swelling and redness), as well as muscle control problems. The report also specifies that North America leads the market, holding about half of the market share in 2016. As for recreational cannabis products, the continued spread of legalization across North America is pushing the market projections to new highs. On June 19th, Canada legalized cannabis across the nation. Additionally, earlier this year, California began legal sales of cannabis products for recreational use and since then, further political changes have been planned. CLS Holdings USA Inc. (OTC: CLSH), MassRoots Inc. (OTC: MSRT), PotNetwork Holdings Inc. (OTC: POTN), Marijuana Company of America Inc. (OTC: MCOA), Puration Inc. (OTC: PURA)

Meanwhile, States enjoy the benefits from the new growing market. Fortune reported that, "in order to collect USD 1 Billion a year in taxes, the state will need to reach a projected USD 7 Billion in annual legal recreational cannabis sales. At that rate, California would easily be the country's largest legal marijuana market, as the entire legal cannabis industry in the U.S. is expected to pull in roughly USD 10 Billion in total sales for 2017. That number would almost certainly get a boost in the coming years, as legal markets grow in California and other states, such as Nevada and Massachusetts."

CLS Holdings USA Inc. (OTCQB: CLSH) just announced breaking news this morning that, "a diversified cannabis company operating as Cannabis Life Sciences and a fully licensed integrated cannabis producer and retailer in Nevada, today is pleased to provide an update to the first complete year of adult use cannabis in Nevada, the first state the Company is operating in. According to the Nevada Department of Taxation, marijuana flower/bud accounted for roughly 50 percent of all combined medical and adult-use marijuana purchases by consumers in Nevada, followed by concentrates at about 25 percent and infused edibles at 13 percent. Oasis Cannabis announced that packaged marijuana flower/bud and pre-rolled joints represented 67 percent of the total sales, followed by concentrates at 20 percent and infused edibles at 9 percent.

The co-founder of Oasis Cannabis, Ben Sillitoe commented on the sales mix, "Convenience items like disposable vapor pens and pre-rolled joints are very popular with our tourist customers and together they make up about 25% of total sales at Oasis."

Oasis Cannabis served over 127,000 customers in its 1st year of adult-use sales. About 13% of those orders and 22% of total sales were to medical patients. The average order from a medical customer was $73 whereas a typical recreational customer spent $41 per order. "A medical patient will typically consume more cannabis than an average retail customer, so we expect to see larger average purchases from that group," explained Sillitoe.

Home deliveries made up 5 percent of the total orders and 11% of total revenue, reflecting a higher average order of $98 versus $42 from in-store customers. The average delivery order from a medical customer was $114 and the average delivery to a recreational customer totaled about $87. "Medical customers make up about 50% of total delivery sales for a couple reasons," Sillitoe explained. "We've been delivering to medical patients since we opened in 2015 so we've had time to build a loyal customer base in that segment. Medical patients are also more likely to be inconvenienced by a trip to the store because of various health reasons."

About Oasis Cannabis (http://oasiscannabis.com) - Oasis Cannabis has operated a cannabis dispensary in the Las Vegas market since dispensaries first opened in Nevada in 2015 and has been recognized as one of the top marijuana retailers in the state. Its location within walking distance to the Las Vegas Strip and Downtown Las Vegas in combination with its delivery service to residents allows it to efficiently serve both locals and tourists in the Las Vegas area. The company recently commenced wholesale offerings of cannabis in Nevada with the launch of its City Trees brand of cannabis concentrates and cannabis-infused products in August 2017. An expansion of its cultivation and production facility is currently underway and is expected to be completed during the second half of 2018.

About CLS Holdings USA, Inc. - CLS Holdings USA, Inc. (CLSH) is a diversified cannabis company including a fully licensed integrated cannabis producer and retailer in Nevada and plans to expand to other states. CLS stands for "Cannabis Life Sciences," in recognition of the Company's patent pending proprietary method of extracting various cannabinoids from the marijuana plant and converting them into products with a higher level of quality and consistency. The Company's business model includes licensing operations, processing operations, processing facilities, sale of products, brand creation and consulting services. For additional information, please visit: http://www.clsholdingsinc.com

MassRoots Inc. (OTCQB: MSRT) is one of the leading technology platforms for the regulated cannabis industry. The Company Ability recently announced 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. The Company believes 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. The Company recently announced that it has filed an amendment to its Articles of Incorporation in the state to change its name from PotNetwork Holdings, Inc. to "BioTech Hemp Inc." on July 2nd, 2018. This name change reflects the Company's focus on Diamond CBD's sales momentum and expanding product lines, which better reflects its current and future business strategy and industry scope. In connection with the name change, the Company is now in the process of preparing its filing with FINRA for a name and symbol change; and in anticipation, has obtained a new CUSIP number to go in effect at the time these changes are effective. The Company plans to complete the FINRA submission by the end of this week. Implementation of the name change and symbol change, is subject to FINRA review, approval and processing. With sales of over USD 10 Million generated by its hemp-derived CBD product lines in the first five months of 2018, which far exceeds the same period in 2017, the name change underscores the Company's strengthening identity as a dominant player in the CBD Industry.

Marijuana Company of America Inc. (OTC: MCOA) is an innovative hemp and cannabis corporation. Recently, the Company provided an update last month on its New Brunswick Hemp Project with joint venture partner, Global Hemp Group Inc. The joint venture recently completed the planting of 125 acres of industrial hemp at the New Brunswick Hemp Project location, in the northeast portion of the province of New Brunswick, Canada. The Partners look forward to more collaborative efforts with the DAAF in the future. Information gained from these various initiatives will improve the management of the crop and benefit all hemp farmers in the region.

Puration Inc. (OTC: PURA) has been a water purification company that designs, develops, engineers, produces, markets, and distributes personal and group systems that filter, purify, clean, extract or otherwise improve the quality of water on a cost effective, affordable basis, with a minimum of environmental impact. Puration recently announced that the Company's recently announced plans to spin-off its cannabis cultivation business to include its recently acquired Canadian Cannabis Farmers Co-Op, is keeping pace with the Canada's legalization of recreational marijuana use. The spinoff plan includes a dividend issuance of cannabis cultivation spinoff stock to the shareholders of PURA. Puration plans to spin-off its cannabis cultivation business into a standalone, independently traded company listed both in Canada and the US. The planned transaction includes a dividend distribution of shares in the independently traded spin-off company to the shareholders of Puration. The Company will continue to expand its cannabis infused beverage business separate from the cannabis cultivation spin-off.

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