NEW YORK, July 23, 2018 /PRNewswire/ --
According to Forbes, citingBrightfield Group, the global legal cannabis market is expected to reach USD 31.4 Billion by 2021. Currently, the global market is valued at about USD 7.7 Billion and is projected to grow at
On June 19th Canada had passed a nationwide legalization of recreational cannabis usage, following Uruguay to become just the second nation to do so. The new laws are expected to create an innovative environment. According to a report by CBC, University of Waterloo entrepreneurship professor, Nada Basir, explained, "Where I think we're going to see a lot of startup activity around this new legislation is in activities outside the traditional growth and transaction of the product… typically, historically, this is where we see innovation really happen because it becomes the survival of the fittest, and to survive you're going to have to figure out how to scale, how you can be more efficient, how you can save costs."
Auxly Cannabis Group Inc. (OTCQX: CBWTF) is also listed on the Toronto Canadian Stock Venture Exchange under the ticker (TSX-V: XLY). Just earlier today, the company announced breaking news that, "its wholly-owned subsidiary, Kolab Project Inc. ("Kolab" or "Kolab Project"), has received its sales licence from Health Canada, pursuant to the Access to Cannabis for Medical Purposes Regulations. The sales licence authorizes Kolab to sell dried cannabis to registered Canadian medical patients across the country through its online portal at kolabproject.com. Kolab will source the best cannabis products from the entire Auxly cultivation platform and through partnerships with acclaimed growers from around the world. Among these will be Kolab's facility in Carleton Place, Ontario, where the second phase of construction has been completed and is expected to be commissioned for cultivation in the coming months. Once phase three is completed, the facility will total 20,000 sq. ft, have over 20 local employees and be a centre of excellence for the production of medical-grade cannabis.
"The sales licence marks a significant milestone in Kolab's development of a different kind of company - one that rethinks the patient experience," said Andrew Rock, Chief Operating Officer of Kolab. "As a craft grower, we are passionate about our product and take our commitment as a licensed producer seriously. Through our focus on research and development, we will produce the highest quality medical-grade cannabis. I am grateful to our team for the dedication and hard work that got us here and look forward to building a community that enriches the health and wellness of Canadian patients."
The Company is also pleased to announce that Kolab has been selected to apply for a cannabis retail permit in Lloydminster, Saskatchewan. The permit, if granted by the Saskatchewan Liquor and Gaming Authority, will allow for Kolab to operate one physical location in addition to a province-wide e-commerce platform to serve the adult-use market following the legalization of recreational cannabis. The Company is actively working to finalize details of the application and retail concept and anticipates having the retail outlet built and operating following legalization on October 17th, 2018, subject to regulatory and municipal approvals.
"We could not be more pleased with the issuance of the sales licence to Kolab. The receipt of the sales licence is instrumental in allowing Kolab and Auxly to execute on the broader business strategy of the entire platform. We remain convinced that Andrew has assembled the right team and is well equipped to deliver patients an elevated experience by sourcing the best products from across Auxly's cultivation partners." said Chuck Rifici, Chairman and CEO of Auxly, "We are also honored to have been selected as a retail cannabis store licence applicant in Saskatchewan. This new retail store and e-commerce presence in Saskatchewan serve as an important piece of Auxly's downstream distribution segment as we look to address both the medical and adult-use markets on a provincial and national basis."."
Aurora Cannabis Inc. (OTCQX: ACBFF), headquartered in Edmonton, Alberta, with funded capacity in excess of 430,000 kg per year and sales and operations in 14 countries across five continents, is one of the world's largest and leading cannabis companies. The Company recently announced that it has received shareholder approval at a special meeting for the issuance of shares in consideration for the planned acquisition of MedReleaf Corp., a well-known Canadian Licensed Producer based in Markham, Ontario that delivers premium medical cannabis products to domestic and global markets, and compelling brands to the adult-use recreational market. The combination of Aurora and MedReleaf, will yield a number of important strategic synergies allowing for accelerated growth: Industry-leading scale: Funded capacity will increase to over 570,000 kg of high-quality cannabis per year, to be delivered through nine facilities in Canada and two in Europe; Low production costs and industry-leading yields: Aurora's automated 'Sky Class' greenhouses are expected to deliver industry-leading efficiencies and ultra-low production costs of well below USD 1 per gram, delivering sustainably robust margins. MedReleaf's high-yield cultivation techniques are expected to further enhance productivity and reduce costs across the combined entity's facilities.
Cronos Group Inc. (NASDAQ: CRON) is a globally diversified and vertically integrated cannabis company with a presence across four continents. The Company recently announced that it has entered into a joint venture partnership with a group of investors led by Bert Mucci, one of Canada's most sophisticated greenhouse operators and builders. This partnership will function through a newly formed entity, Cronos Growing Company Inc., which will develop, construct and operate a state-of-the-art purpose-built greenhouse for cannabis production in Kingsville, Ontario. Cronos GrowCo plans to develop an approximately 850,000 sq. ft. custom-built greenhouse on about 100 acres of land owned by Cronos GrowCo in the established greenhouse region of Kingsville, Ontario. The Leamington/Kingsville region of Ontario is home to the largest concentration of greenhouses in North America and is commonly referred to as the "Sun Parlour," since the area boasts one of the warmest climates in Canada. Cronos Group expects that once the Facility is fully operational and licensed, the Facility will produce approximately 70,000 kilograms of cannabis per annum for Cronos GrowCo. "We believe this partnership serves as a textbook illustration of our strategy and how Cronos Group plans to execute on a global scale," said Mike Gorenstein, Chief Executive Officer of Cronos Group. "It leverages the data and intellectual property we have been creating at Peace Naturals, our center of excellence, to create capacity and operating leverage in Canada with a premier expert in greenhouse execution, all accomplished in a capital efficient manner."
Kush Bottles Inc. (OTCQB: KSHB) is a dynamic sales platform that provides unique products and services for both businesses and consumers in the cannabis industry including cannabidiol manufacturers. Kush Bottles recently announced that it has acquired Zack Darling Creative Associates, LLC along with its wholly-owned subsidiary, The Hybrid Creative, LLC., a specialist design agency based in Santa Rosa, California. In 2015, ZDCA brought all of its cannabis and hydroponics projects into a single portfolio under the banner of The Hybrid Creative. Since then, the agency has experienced significant growth within the cannabis industry and has become one of the top cannabis branding agencies in the U.S. It continues to serve its clients in traditional industries, including some of the world's biggest solar brands, through the ZDCA parent company. Nick Kovacevich, Kush Bottles' Chief Executive Officer said, "As cannabis products become increasingly commoditized, more and more producers are focusing on brand development as a means of differentiating their products to ensure customer loyalty and improve their profit margins. Acquiring the Hybrid Creative complements our existing offering and we expect it will generate additional cross-selling opportunities by deepening our branding capabilities so that we can help our cannabis clients develop unique brands at the earliest stages of their development."
Aphria Inc. (OTCQB: APHQF) is a leading global cannabis company driven by an unrelenting commitment to our people, product quality and innovation. The Company recently announced that its planned expansion into Latin America and the Caribbean with the proposed acquisition of industry-leading companies in Colombia, Argentina, Jamaica and a right of first offer and refusal in respect of Brazil through a definitive share purchase agreement with Scythian Biosciences Inc. Aphria will acquire 100% of the issued and outstanding common shares of LATAM Holdings Inc., a direct, wholly-owned subsidiary of Scythian. "Aphria is proud with this initiative to create a true leader in medical cannabis across LATAM and extend our leadership in the global industry," said Vic Neufeld, Chief Executive Officer at Aphria. "We have spent a considerable amount of time and resources evaluating opportunities in Latin America and the Caribbean and we are confident in the long-term strategic opportunity and the value it will bring to our shareholders. The Transaction, once completed, will firmly place Aphria at the center of the medical cannabis industry in the region, and will provide the strong foundation, relationships and infrastructure to capture significant future growth as more LATAM and Caribbean markets evolve. We truly have the best international team in the business, and we are continuing to bring our industry-leading expertise, experience and know-how to strategic international markets."
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