Data Projects that Cannabis Legalization Will Continue to Create Vast Monetary Value

Monday, July 2, 2018 Drug News
Email Print This Page Comment bookmark
Font : A-A+

FinancialBuzz.com News Commentary

NEW YORK, July 2, 2018 /PRNewswire/ --

According to data provided

by the European investment bank, Bryan, Garnier & Co., the legal global cannabis market is expected to grow more than 1,000% over the next decade and could reach USD 140 Billion dollars by 2027. The market is going through
a period of strong growth thanks to increasing legalization and decriminalization of cannabis products across many countries as well as throughout North America. A report by Arcview Market Research emphasized that consumer spending on legal cannabis in North America is outpacing previous estimates. Arcview also explained that, according to BDS Analytics' GreenEdge point-of-sale tracking service, the medical cannabis market in California is as large as the combined market value of Colorado, Washington, and Oregon combined. This January 1st, California started legal sales of cannabis products for recreational use. WeedMD Inc. (OTC: WDDMF), Terra Tech Corp. (OTC: TRTC), PotNetwork Holdings Inc. (OTC: POTN), Zynerba Pharmaceuticals (NASDAQ: ZYNE), 22nd Century Group, Inc. (NYSE: XXII)

An analysis by the Arcview Group is projecting an increase in the sales of cannabis. Meanwhile, Troy Dayton, CEO of The Arcview Group, explained that, "The economic excitement around the legal cannabis industry is no longer just theory. Due to the giant impact adult-use legalization is already having in the United States, it's vital for key stakeholders to understand the full impact of legalization, beyond just retail sales numbers." The legalization of adult-use sales in California is projected to lead to the creation of nearly 99,000 cannabis industry jobs in the state by 2021, about a third of all cannabis jobs nationwide, and 146,000 jobs overall when indirect and induced effects are considered.

WeedMD Inc. (OTC: WDDMF) is also listed on the Toronto Stock Exchange Venture under (TSX-V: WMD). Earlier last week the Company announced, "that the first batch of cannabis plants have been transplanted to its modern greenhouse located in Strathroy, Ontario and are scheduled for harvest by September 2018.

'Our initial crop of plants successfully entered our recently-licensed Strathroy greenhouse last week and our first 10,000 sq. ft. grow room is now fully operational,' said Keith Merker, Chief Financial Officer of WeedMD. 'With this hybrid, large-scale, modern greenhouse, we will be able to produce quality cannabis with maximum efficiency. This facility will be the prominent source of supply for our medical cannabis patients and for future adult-use consumers across Canada and emerging international markets. I want to acknowledge and thank our incredibly dedicated, passionate and experienced best-in-class cultivation team.'

Strathroy Greenhouse Facility Updates:

  • Secured Health Canada cultivation license for the first four grow rooms at its Strathroy facility on June 11th, 2018.
  • Initial harvest expected by September 2018.
  • Phase I, 220,000 sq. ft. retrofit is scheduled for completion this fall, with plans to progressively bring a total of 20 grow rooms online expanding annual production to more than 21,000 kg.
  • Phase II fully-funded expansion is underway with an incremental 175,000 sq. ft. conversion, representing additional potential annual yield of more than 12,000 kg, bringing the total to more than 33,000 kg by this year-end.
  • Phase III involves retrofitting the remaining 215,000 sq. ft., bringing the total square footage to 610,000 sq. ft, and total annual production capacity to more than 50,000 kg.

For more information, access our investor presentation here and corporate video here."

Terra Tech Corp. (OTCQX: TRTC) operates through multiple subsidiary businesses including Blüm, IVXX Inc., Edible Garden, and MediFarm LLC. Terra Tech recently announced that it has commenced cultivation at its new Sparks facility, following approval from the State of Nevada. Utilizing Terra Tech's proven practices and procedures, the team has successfully begun cultivation of its first cannabis crop, planting the first seeds in early June. Terra Tech expects to distribute and sell cannabis grown at the Sparks facility from its first harvest throughout Nevada by the fourth quarter of 2018. Derek Peterson, CEO of Terra Tech, commented, "We recently received the necessary permits from the State of Nevada to commence cultivation at our brand-new cultivation facility in Sparks, Nevada and have planted our first seeds. We plan to cultivate a variety of cannabis strains for patients and consumers under our IVXX brand, including offerings with varying THC and CBD concentrations."

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. Recently, PotNetwork announced that the Company is in the process of filing an amendment to its articles of incorporation with the state of Colorado for a name change from PotNetwork Holdings, Inc. to "BioTech Hemp, Inc." 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. Following the filing with the state of Colorado, the Company plans to file for a name listing and trading symbol change with FINRA. As revenues year-to-date for 2018 already exceed USD 10 Million, The Company's repositioning initiative is designed to signal to the market its mission to be a continually thriving, socially-responsible family of brands dedicated to strengthening its evolving leadership position in the distribution and marketing of CBD products. "This name change reflects our clear leadership position in the CBD industry as the market evolves. Demand continues to expand in every sector, and as we broaden the scope of our reach, our name will mirror who we are, the nature of the industry we serve, and what our exciting future holds," stated Richard Goulding, M.D., PotNetwork Holdings' CEO.

Zynerba Pharmaceuticals (NASDAQ: ZYNE) is a clinical-stage specialty pharmaceutical company dedicated to developing and commercializing innovative pharmaceutically-produced transdermal cannabinoid treatments for rare or near-rare neuropsychiatric diseases with high unmet medical needs. In May, the Company reported financial results for the first quarter ended March 31st, 2018, and provided an overview of recent operational highlights. The Company expects to enroll approximately 200 pediatric and adolescent patients in the U.S., Australia and New Zealand into a single pivotal study to support an NDA for ZYN002 in FXS. 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, adult epilepsy patients with focal seizures and osteoarthritis.

22nd Century Group, Inc. (NYSE: XXII) is a plant biotechnology company focused on technology which allows it to increase or decrease the level of nicotine in tobacco plants and the level of cannabinoids in hemp/cannabis plants through genetic engineering and plant breeding. The Company's primary mission in hemp/cannabis is to develop proprietary hemp strains for important new medicines and agricultural crops. 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, the 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.

Subscribe Now! Watch us report LIVE https://www.youtube.com/FinancialBuzzMedia

Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz

Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz

Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/

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: info@financialbuzz.com +1-877-601-1879

Url: http://www.FinancialBuzz.com

SOURCE FinancialBuzz.com



Post your Comments

Comments should be on the topic and should not be abusive. The editorial team reserves the right to review and moderate the comments posted on the site.
* Your comment can be maximum of 2500 characters
I agree to the terms and conditions

News A - Z

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

News Search

Medindia Newsletters

Subscribe to our Free Newsletters!

Terms & Conditions and Privacy Policy.

Find a Doctor

Press Release Category

Press Release Archive

Stay Connected

  • Available on the Android Market
  • Available on the App Store