NEW YORK, October 10, 2017 /PRNewswire/ --
According to a report by New Frontier Data, medical cannabis sales are forecast to grow to $5.3 billion in 2017, which is estimated to account for 67% of total cannabis sales. By 2025, medical sales in currently legal states are forecast to grow to $13.2 billion and will account for 55% of total sales. As for the adult-use (recreational) cannabis products, sales in 2017 are forecast to reach $2.6 billion, or rising to $10.9 billion by 2025. The state of California is expected to play a major role I the industry. The state's legal industry is forecast to grow from $2.8 billion in 2017, to $5.6 billion in 2020. Cannabis Wheaton Income Corp. (OTC: KWFLF), Vitality Biopharma, Inc. (OTC: VBIO), AXIM Biotechnologies, Inc. (OTC: AXIM), GW Pharmaceuticals plc (NASDAQ: GWPH), Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP)
"Significant changes are already underway in California for medical cannabis and adult use laws, which we see will have major implications for the cannabis industry, including e-commerce and delivery services in the state," said Giadha Aguirre de Carcer, New Frontier Data CEO. "As the largest state in the country - and the largest potential market for cannabis products - the implications for the growth of the industry because of California's adult use market cannot be overstated."
Cannabis Wheaton Income Corp. (OTC: KWFLF) is also listed on the TSX Venture Exchange under the ticker symbol 'CBW'. On October 5th the company announced, "that they, along with Beleave's wholly-owned operating subsidiary Beleave Kannabis Corp., have entered a definitive agreement whereby Cannabis Wheaton will provide Beleave with up to $10,000,000 in non-dilutive debt financing by way of an instrument evidencing a debt obligation repayable in product equivalents (the "D.O.P.E. Note"). The proceeds of the D.O.P.E. Note will be used by Beleave to fund the construction of an expansion facility which will be situated adjacent to Beleave's current facility outside of Hamilton, Ontario."
Chuck Rifici, Chief Executive Officer of Cannabis Wheaton commented, "We are excited to announce this innovative financing instrument that will help our streaming partner Beleave achieve the non-dilutive capital they seek to further its objectives. The Cannabis Wheaton team is constantly looking for creative solutions to provide additional value to our streaming partners and we view the D.O.P.E. Note as another tool for the company to utilize in furtherance of that goal. It was a pleasure working with the incredible group of industry professionals who form the Beleave team to develop this industry-first D.O.P.E. Note. We view this transaction as the first milestone towards a long working relationship as we move forward to the larger, previously announced streaming transaction with Beleave to finance the build-out of a third proposed production facility and add further scale to the Beleave platform. We fundamentally believe this transaction is accretive to both our shareholders as well as Beleave's shareholders and it will result in a true win-win."
"Everyone at Beleave is thrilled to embark on this new partnership, and we expect it will yield outstanding results for all sides. It was a truly enjoyable experience working with an incredibly diligent and forward-thinking team at Cannabis Wheaton on this transaction," remarked Bojan Krasic, Chief Financial Officer of Beleave.
Vitality Biopharma, Inc. (OTCQB: VBIO) is dedicated to unlocking the power of cannabinoids for the treatment of serious neurological and inflammatory disorders. Recently, the company announced the achievement of a biosynthesis breakthrough. Vitality has developed a proprietary biosynthesis technology that can modify cannabinoids in order to create pharmaceutical prodrugs that have no psychoactivity and that are able to provide targeted disease treatment. This process involves small molecule glycosylation, where sugar molecules are attached to cannabinoids, creating new compounds known as cannabinoid glycosides, or cannabosides. "With our cannabinoid pharmaceutical program, we are quickly moving from 'bench to bedside,' so it's important to recognize technical milestones like this one that have enabled and sped our progress," said Robert Brooke, CEO of Vitality Biopharma. "Our team first pioneered enzymatic biosynthesis methods for cannabosides and now has made their production far more efficient and scalable."
AXIM Biotechnologies, Inc. (OTCQB: AXIM) focuses on the research, development and production of cannabis-based pharmaceutical, nutraceutical and cosmetic products. The company recently announced that the United States Patent and Trademark Office (USPTO) has issued a Notice of Allowance for U.S. Application Serial Number 14/982,610, a patent that claims the use of an ophthalmic solution comprising cannabinoids for the treatment of glaucoma and symptomatic relief of conjunctival inflammation. A Notice of Allowance is issued after the USPTO makes a determination that a patent can be granted from AXIM's patent application, 14/982,610, filed in December 2015. GW Pharmaceuticals plc (NASDAQ: GWPH) has established a world leading position in the development of plant-derived cannabinoid therapeutics through its proven drug discovery and development processes, intellectual property portfolio and regulatory and manufacturing expertise. The company's lead product candidate is Epidiolex® (cannabidiol) for certain rare and severe early-onset, drug-resistant epilepsy syndromes. The company has a deep pipeline of additional clinical stage cannabinoid product candidates for both orphan and non-orphan indications with a particular focus on neurological conditions. Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) is a Phase 3 clinical stage pharmaceutical company focused on the development and commercialization of novel therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. The Company's lead product candidate, anabasum, is a synthetic oral endocannabinoid-mimetic drug that preferentially binds to the CB2 receptor expressed on activated immune cells and fibroblasts. On September 25, 2017, the company announced today that it will present three abstracts from its cystic fibrosis research and clinical development programs at the 2017 North American Cystic Fibrosis Conference being held November 2-4, in Indianapolis, IN.
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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. Financialbuzz.com has not been compensated directly by any of the companies mentioned here in this editorial. 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 this release, FinancialBuzz.com has been compensated five thousand dollars for financial news dissemination and pr services by a non-affiliate third party for cannabis wheaton income corp. 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 .
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According to a report by New Frontier Data, medical cannabis sales are forecast to grow to $5.3 billion in 2017, which is estimated to account for 67% of total cannabis sales. By 2025, medical sales in currently legal states are forecast to grow to $13.2 billion and will account for 55% of total sales. As for the adult-use (recreational) cannabis products, sales in 2017 are forecast to reach $2.6 billion, or rising to $10.9 billion by 2025. The state of California is expected to play a major role I the industry. The state's legal industry is forecast to grow from $2.8 billion in 2017, to $5.6 billion in 2020. Cannabis Wheaton Income Corp. (OTC: KWFLF), Vitality Biopharma, Inc. (OTC: VBIO), AXIM Biotechnologies, Inc. (OTC: AXIM), GW Pharmaceuticals plc (NASDAQ: GWPH), Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP)
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"Significant changes are already underway in California for medical cannabis and adult use laws, which we see will have major implications for the cannabis industry, including e-commerce and delivery services in the state," said Giadha Aguirre de Carcer, New Frontier Data CEO. "As the largest state in the country - and the largest potential market for cannabis products - the implications for the growth of the industry because of California's adult use market cannot be overstated."
Cannabis Wheaton Income Corp. (OTC: KWFLF) is also listed on the TSX Venture Exchange under the ticker symbol 'CBW'. On October 5th the company announced, "that they, along with Beleave's wholly-owned operating subsidiary Beleave Kannabis Corp., have entered a definitive agreement whereby Cannabis Wheaton will provide Beleave with up to $10,000,000 in non-dilutive debt financing by way of an instrument evidencing a debt obligation repayable in product equivalents (the "D.O.P.E. Note"). The proceeds of the D.O.P.E. Note will be used by Beleave to fund the construction of an expansion facility which will be situated adjacent to Beleave's current facility outside of Hamilton, Ontario."
Chuck Rifici, Chief Executive Officer of Cannabis Wheaton commented, "We are excited to announce this innovative financing instrument that will help our streaming partner Beleave achieve the non-dilutive capital they seek to further its objectives. The Cannabis Wheaton team is constantly looking for creative solutions to provide additional value to our streaming partners and we view the D.O.P.E. Note as another tool for the company to utilize in furtherance of that goal. It was a pleasure working with the incredible group of industry professionals who form the Beleave team to develop this industry-first D.O.P.E. Note. We view this transaction as the first milestone towards a long working relationship as we move forward to the larger, previously announced streaming transaction with Beleave to finance the build-out of a third proposed production facility and add further scale to the Beleave platform. We fundamentally believe this transaction is accretive to both our shareholders as well as Beleave's shareholders and it will result in a true win-win."
"Everyone at Beleave is thrilled to embark on this new partnership, and we expect it will yield outstanding results for all sides. It was a truly enjoyable experience working with an incredibly diligent and forward-thinking team at Cannabis Wheaton on this transaction," remarked Bojan Krasic, Chief Financial Officer of Beleave.
Vitality Biopharma, Inc. (OTCQB: VBIO) is dedicated to unlocking the power of cannabinoids for the treatment of serious neurological and inflammatory disorders. Recently, the company announced the achievement of a biosynthesis breakthrough. Vitality has developed a proprietary biosynthesis technology that can modify cannabinoids in order to create pharmaceutical prodrugs that have no psychoactivity and that are able to provide targeted disease treatment. This process involves small molecule glycosylation, where sugar molecules are attached to cannabinoids, creating new compounds known as cannabinoid glycosides, or cannabosides. "With our cannabinoid pharmaceutical program, we are quickly moving from 'bench to bedside,' so it's important to recognize technical milestones like this one that have enabled and sped our progress," said Robert Brooke, CEO of Vitality Biopharma. "Our team first pioneered enzymatic biosynthesis methods for cannabosides and now has made their production far more efficient and scalable."
AXIM Biotechnologies, Inc. (OTCQB: AXIM) focuses on the research, development and production of cannabis-based pharmaceutical, nutraceutical and cosmetic products. The company recently announced that the United States Patent and Trademark Office (USPTO) has issued a Notice of Allowance for U.S. Application Serial Number 14/982,610, a patent that claims the use of an ophthalmic solution comprising cannabinoids for the treatment of glaucoma and symptomatic relief of conjunctival inflammation. A Notice of Allowance is issued after the USPTO makes a determination that a patent can be granted from AXIM's patent application, 14/982,610, filed in December 2015. GW Pharmaceuticals plc (NASDAQ: GWPH) has established a world leading position in the development of plant-derived cannabinoid therapeutics through its proven drug discovery and development processes, intellectual property portfolio and regulatory and manufacturing expertise. The company's lead product candidate is Epidiolex® (cannabidiol) for certain rare and severe early-onset, drug-resistant epilepsy syndromes. The company has a deep pipeline of additional clinical stage cannabinoid product candidates for both orphan and non-orphan indications with a particular focus on neurological conditions. Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) is a Phase 3 clinical stage pharmaceutical company focused on the development and commercialization of novel therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. The Company's lead product candidate, anabasum, is a synthetic oral endocannabinoid-mimetic drug that preferentially binds to the CB2 receptor expressed on activated immune cells and fibroblasts. On September 25, 2017, the company announced today that it will present three abstracts from its cystic fibrosis research and clinical development programs at the 2017 North American Cystic Fibrosis Conference being held November 2-4, in Indianapolis, IN.
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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. Financialbuzz.com has not been compensated directly by any of the companies mentioned here in this editorial. 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 this release, FinancialBuzz.com has been compensated five thousand dollars for financial news dissemination and pr services by a non-affiliate third party for cannabis wheaton income corp. 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 .
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SOURCE FinancialBuzz.com
