Growing Need for Medical and Recreational Cannabis Looks to Continue Globally

Monday, September 17, 2018 Drug News
Email Print This Page Comment bookmark
Font : A-A+

FinancialBuzz.com News Commentary

NEW YORK, September 17, 2018 /PRNewswire/ --

According to a research

report published by Mordor Intelligence, the global cannabis market was valued at USD 7.7 Billion in the year 2016 and is expected to reach USD 65 Billion by the year 2023 while keeping a CAGR of 37% during the forecast period. The report clarifies that
the growth rate can be attributed to the legalization of cannabis in various countries, as well as to the increasing demand of cannabis products for medical and recreational purposes. North America accounts for more than 95% of the global market, with the U.S. alone making up more than 90% of the North American region, as well as global market. Koios Beverage Corp. (OTC: KBEVF), GB Sciences, Inc. (OTC: GBLX), Future Farm Technologies Inc. (OTC: FFRMF), InMed Pharmaceuticals, Inc. (OTC: IMLFF), mCig, Inc. (OTC: MCIG)

So far, 2018 has been a year of positive developments for the cannabis industry. Canada has legalized cannabis on a national level earlier this June and the state of California has legalized sales of cannabis products for recreational use. These recent developments are projected to have significant financial and economic implications. A report by Fortune indicates 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."

Koios Beverage Corp. (OTC: KBEVF) is also listed on the Canadian Stock Exchange under (CSE: KBEV). Last week, the Company announced that it has, "entered into a distribution agreement with Western Functional Beverages, a leading distributor of healthy, functional drinks targeting the fitness crowd in the state of Wyoming.

'We expect we'll be hitting store shelves early next month,' said Gina Burrus, Vice-President of sales for Koios. 'The Wyoming team is working very hard with us to ensure solid growth.'

Koios is a leading innovator in the nootropic beverage industry, making functional beverages that are augmented with nutrients and/or supplements to convey a health benefit to the consumer.

Western Functional Beverages, a division of Western Distributing Co., distributes healthy drinks to cafes, gyms, yoga studios and other retail locations. It will now add Koios brands to its portfolio of beverages, which include teas, kombucha, coconut water, cold-brew coffee and the popular Jones Soda. It will begin distributing peach mango and pear guava immediately, eventually carrying the entire line of Koios beverages as they become available.

'The owners of Western are a lot like us, in that they have a passion for healthy products that create real benefits for their customers,' said Chris Miller, Chief Executive Officer of Koios. 'As a company, but also as people, they walk the walk when it comes to living and encouraging a healthy lifestyle and achieving a high level of fitness. Their focus is on products that are healthy, usually organic and that are environmentally sustainable.'

'In that way, our beliefs and our philosophies are very similar. We believe they are the ideal team to work with in helping spread our message and our brand throughout the state of Wyoming,' he added."

GB Sciences, Inc. (OTCQB: GBLX) is a diverse cannabis company, focused on standardized cultivation and production methods, as well as biopharmaceutical research and development. The Company recently announced that its first cannabis crop is now in production at their high-tech 36,000 sq. ft. grow facility in Baton Rouge. Teams from GB Sciences and the LSU AgCenter are working closely with Louisiana pharmacists who will serve patients starting in November. Some three years after the passage of the Alison Neustrom Act, the Louisiana Pharmacy Board has issued permits to nine pharmacists who will dispense medical marijuana in their nine respective regions of the state, with a potential 10th license to be awarded at a later date in a high-demand area. "We are on the front edge of this wave of research into the cannabis plant," said John Davis, President of GB Sciences Louisiana. "And vital to that is our strategic partnership with the nine pharmacies that have been licensed by the Louisiana Board of Pharmacy."

Future Farm Technologies Inc. (OTCQX: FFRMF) is a Canadian company with holdings throughout North America including California, Massachusetts, Florida, Maine, Puerto Rico and Newfoundland. Future Farm Technologies Inc. recently announced that it has completed its acquisition of a 50% interest in CEPG Consulting and Design Inc. of St. John's, Newfoundland. CEPG will participate in the cannabis and hemp breeding program under the previously announced joint venture between Future Farm and Rahan Meristem Ltd., a world renowned global agro-biotechnology company based in Israel. The joint venture will operate out of both an existing building to be transferred to CEPG by Snellen Holdings (1994) Co. Ltd. and 6,000 sq. ft. of newly constructed laboratories. "We are delighted to continue the path that Chris and CEPG have forged over the years in St. John's," says Bill Gildea, Chief Executive Officer of Future Farm. "The relationships that Chris has made will streamline the process of getting the R&D facility up and running so that we can get down to the business of developing elite strains of cannabis and hemp with our partners at Rahan."

InMed Pharmaceuticals, Inc. (OTCQX: IMLFF) is a pre-clinical stage biopharmaceutical company that specializes in developing novel therapies through the research and development into the extensive pharmacology of cannabinoids coupled with innovative drug delivery systems. InMed Pharmaceuticals Inc. recently announced that it has filed a Patent Cooperation Treaty ("PCT") application pertaining to the Company's proprietary biosynthesis program for the manufacture of cannabinoids that are identical to those found in nature. This application will provide protection of the biosynthesis technology in over 150 different countries including the United States and claims a priority date from September 5th, 2017 (PCT/CA2018/051074). The PCT filing, which is a conversion from the provisional patent filed in September 2017, is an important step in providing intellectual and commercial protection for InMed's biosynthesis platform technology. "With the conversion of this patent application, we are continuing the process of pursuing commercial protection for our biosynthesis platform technology. As we undertake scale-up activities towards commercialization, today's patent announcement is an important step forward for the Company," said Dr. Eric Hsu, Ph.D., InMed's Vice President of Preclinical Research and Development. Dr. Hsu continued, "This application protects our effort to modulate E. coli's own internal machinery to increase the metabolites needed for the biosynthesis of the cannabinoid. Beyond this patent, we are actively pursuing additional patent applications to further protect our know-how in cannabinoid manufacturing through biosynthesis. These patent applications collectively represent the culmination of three years of dedicated time and resource investment by an extended scientific team."

mCig, Inc. (OTCQB: MCIG), headquartered in Jacksonville, Florida, is a diversified company servicing the legal cannabis, hemp, and CBD markets via its lifestyle brands. mCig, Inc. recently announced that it will begin harvesting its first crop of organic hemp from NYAcres in two to three weeks time. After harvested and dried, cannabidiol (CBD) will be extracted from the plant source material. The particular strains of hemp grown at NYAcres, Cherry Wine and Berry Blue sourced from the Colorado Hemp Project are known for their high concentrations of CBD. Once extracted, CBD distillate can be used as a component for a diverse range of end user products, from CBD capsules to CBD vape. Initial projections from its Advisory team and based upon their collective years of farm production and development; the Company expects revenues greater than USD 10 Million annually from the 40-acre yield. With 212 total acres available, the NYAcres Project could potentially yield up to USD 50 Million per year in high demand CBD retail products with this unique approach. "MCIG will continue to seek strategic partnerships in hemp agriculture," says Paul Rosenberg, MCIG Chief Executive Officer. "The success of this venture with NYAcres is just the beginning. As the public demand for CBD and other hemp products grows, so does the need for a consistent hemp supply. With true hemp legalization on the horizon in the US, MCIG is well-positioned to capitalize on the growth of this soon-to-be billion dollar industry."

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 koios beverage corp., 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: 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