NEW YORK, January 25, 2018 /PRNewswire/ --
According to recent dataprovided by Arcview Market Research, in partnership with BDS Analytics, the total economic output from legal cannabis will grow 150% from $16 billion in 2017 to $40 billion by 2021. The report indicates economic multiplier effects through which US consumer
There have been healthy signs of demand in states where sales of cannabis products are legal and where the industry was allowed to mature. According to a Marijuana Business Daily survey of business owners in the industry, "business owners intending to expand, the vast majority have identified opportunities in both the medical and recreational markets. With sales continuing to grow rapidly in mature recreational cannabis industries like Colorado and Washington state - and promising new medical markets such as Maryland, Ohio and Pennsylvania set to come online in the near future - it's perhaps not surprising that many entrepreneurs are looking to expand into both medical and adult-use markets."
FinCanna Capital Corp. (OTC: FNNZF) also listed on the Canadian Securities Exchange under the trading symbol "CALI". Yesterday the company reported breaking news that, "its flagship investment in California, Cultivation Technologies, Inc. ("CTI"), has completed its obligations to secure an additional five (5) megawatts of power from the local utility company, Imperial Irrigation District ("IID"). This increases CTI's total available power to seven (7) megawatts, the largest power commitment in the Coachella Cannabis Zone from IID. The new power upgrade provides requisite power for construction and operation of the planned Coachella Campus.
According to CTI knowledge and area stakeholders, no other viable short-term option exists for significant power in the Coachella Cannabis Zone, creating barriers for other development involving indoor cultivation.
FinCanna CEO, Andriyko Herchak, comments, "CTI securing this additional five megawatts represents a significant milestone for the development of the project. The operators of CTI continue to advance milestones that are imperative for the development of what is planned to be a leading medical cannabis facility."
CTI currently holds local permits for the Coachella Campus that allow for construction of the project and allow CTI to conduct medical cannabis operations on-site, subject to regulatory requirements. CTI plans to construct a cultivation, extraction, manufacturing, and distribution facility in phases on its Coachella property ("Coachella Campus"), a fully-entitled six-acre site which it owns outright in Coachella, California.
Additionally, CTI has signed a conditional lease-build-to-suit agreement for its Coachella Campus with Graceland Industries, Inc., an entity controlled by Michael Barker of Barker Pacific Group, Inc., a real estate developer based in Los Angeles, California. Barker Pacific Group, Inc. has completed, developed, or redeveloped over US$2.5 billion in commercial real estate projects.
Pursuant to the funding agreement between FinCanna and CTI, FinCanna has agreed to fund certain amounts of capital to CTI to purchase a royalty equaling up to 14% of CTI's revenues generated by the Coachella Campus. On January 15, 2018, FinCanna announced that the original structure was adjusted to provide 14% of revenues of the Coachella Campus paid as a royalty (previously 10% to be paid as a dividend)."
Future Farm Technologies Inc. (OTCQB: FFRMF) is a Canadian company with projects throughout North America including California, Florida and Maryland. Recently, the company announced it has entered into a definitive agreement with New England CCS to acquire a 51% stake in FlipCoin, a new cryptocurrency application and Point of Sale (POS) platform - similar to Square - for cannabis dispensaries. The FlipCoin application, which has been in development for over six months, is expected to go live in the next three weeks and will allow dispensaries to be able to accept Bitcoin, Ethereum, Bitcoin Cash, or Litecoin as payment. Along with Future Farm's current portfolio of projects, New England CCS expects to install this application in nine of its portfolio of dispensaries in 2018, as well as white label the application for dispensaries globally.
Emerald Health Therapeutics, Inc. (OTCQX: EMHTF) operates through Emerald Health Botanicals Inc., a wholly owned subsidiary and Licensed Producer under Canada's Access to Cannabis for Medical Purposes Regulations. Through Botanicals, Emerald is authorized to produce and sell dried medical cannabis flower and medical cannabis oil. It currently operates an indoor facility in Victoria, BC, and is building a 500,000 s.f. greenhouse on 32 acres in Metro Vancouver, with expansion potential to 1 million s.f. to serve the anticipated legal Canadian adult-use cannabis market starting in 2018. On January 8, 2018, the company announced the appointment of Paul R. Dillman, Jr., as the Company's Vice President of Sales and Marketing. Mr. Dillman will be responsible for marketing, sales, and customer service, and will lead Emerald's brand strategy and execution as the Company prepares for anticipated legalization of adult use cannabis in Canada by July 2018.
Abattis Bioceuticals Corp. (OTCQB: ATTBF) is a life sciences and biotechnology company which aggregates, integrates, and invests in cannabis technologies and biotechnology services for the legal cannabis industry developing in Canada. Recently, the company announced the formation of a new partnership with Faculty Brewing Co., a Vancouver-based craft brewery, to develop a hemp-infused, cannabinoid-rich, THC-free craft beer. Pursuant to a research services agreement between Abattis and Faculty Brewing, Abattis will conduct research and development activities related to the development of a hemp-infused, cannabinoid-rich, THC-free craft beer, or a line of such beers, for Faculty Brewing. Northern Vine Laboratories has been contracted by Abattis to provide cannabinoid-rich, THC-free, hemp extract and to carry out research, development and analytical testing related to the formulation of a unique hemp- and cannabis-infused beer. Northern Vine is a Licensed Dealer under the provisions of the Canadian Controlled Drugs and Substances Act.
Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE) is a clinical-stage specialty neuropsychiatric 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. On January 03, 2018, the company announced that it will concentrate its focus on rare (meeting the US FDA designation of an orphan disease, affecting fewer than 200,000 people in the U.S.) and near-rare (affecting fewer than one million people in the U.S.) neurological and psychiatric ("neuropsychiatric") disorders with high unmet medical needs. In 2018, the Company intends to develop ZYN002 in a pivotal Phase 2/3 program in Fragile X syndrome (FXS) and in Phase 2 programs in refractory epilepsies, including adult refractory focal epilepsy and developmental and epileptic encephalopathies (DEE) in pediatric and adolescent patients. Additionally, the Company plans to initiate Phase 2 development of ZYN001 in Tourette Syndrome by year end 2018.
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