NEW YORK, August 6, 2018 /PRNewswire/ --
According to a recent reportcompiled by Research and Markets, the North American legal cannabis market value reached a value of over USD 8 Billion in 2017 and is projected to reach around USD 35 Billion by 2023 while expanding
Cannabis legalization initiatives are being taken around the world. Uruguay and Canada are leading the way in the adult-use (recreational) legalization, and Germany broke barriers in 2017 on medical-use products. "The end of marijuana prohibition is in sight and what that means for this market cannot be overstated," said Troy Dayton, CEO of the Arcview Group. "There are billions of dollars in institutional capital chomping at the bit to take advantage of this shift, but so far haven't found a major way in. This leaves a limited window for businesses to get a foothold and build value for liquidity events that might come sooner than any of us thought possible just a few months ago."
Crop Infrastructure Corp. (OTC: CRXPF) is also listed on the Canadian Securities Exchange under the ticker (CSE: CROP). Earlier last week, the Company announced breaking news that, "the Company's Joint Venture; Xhemplar hemp farm in Italy. The 25-acre property was planted less than 50 days ago, has now produced approximately 600,000 healthy hemp plants. The plants are expected to be harvested in the next 20 days.
Furthermore, the joint venture has erected three drying facilities in the preparation for saleable dried hemp biomass. The Company has also identified multiple locations for an extraction facility.
The Joint Venture's high CBD hemp will be sold as biomass or processed into CBD isolate for international markets. The joint venture's products will be branded under XHemplar and CROP brands Tiffany CBD and Hempire Italia.
According to Arcview Market Research and its partner, BDS Analytics, government-subsidized health care spending (worldwide market at USD 1.3-Trillion) is expected to make Europe among the fastest growing and largest medical cannabis markets in the world. Arcview expects Italy to be the second largest cannabis market in Europe by 2027 with USD 1.2 Billion in sales.
CROP Infrastructure Director & CEO Michael Yorke states, 'The Company is extremely encouraged by the fast pace of our partners at XHemplar having advanced into production in Italy. CROPs portfolio of cannabis infrastructure assets now includes cultivation properties in California, Washington State, Nevada, Italy, Jamaica. CROP also holds minority interests in West Hollywood and San Bernardino dispensary applications. Management will continue to aggressively pursue new international opportunities and expand its portfolio of tenant growers and infrastructure assets in strategic jurisdictions.'
XHemplar Chairman and CROP Infrastructure VP of M&A, EMEA Andrea Castiglione states: 'We're looking forward to CROP building out the extraction facility and unlocking the true value of the hemp plant. In 2019 we will look to increase the scale of our operations and asset base in Italy with CROP Infrastructure.'"
MPX Bioceutical Corp. (OTCQB: MPXEF), through its wholly-owned subsidiaries in the U.S., provides substantial management, staffing, procurement, advisory, financial, real estate rental, logistics and administrative services to three medicinal cannabis enterprises in Arizona operating under the Health for Life and the award-winning Melting Point Extracts brands. MPX recently announced that the Company, through its indirect wholly-owned subsidiary, S8 Management LLC, has received final licensing approval by the Maryland Medical Cannabis Commission for the opening of two managed dispensaries, LMS Wellness, Benefit LLC, operating as Health for Life White Marsh, and GreenMart of Maryland, LLC, operating as Health for Life Baltimore. Health for Life White Marsh will operate a dispensary in the White Marsh suburb of Baltimore Maryland, an affluent, highly populated area located at 4741 Ridge Road, Nottingham, Maryland 21236. Health for Life Baltimore, located at 6807 Rolling Mill Road, Baltimore, Maryland 21224, will operate a dispensary in an urban, high-traffic area of Baltimore, near North Point Road in the community of Colgate. Through the management agreements with LMS and GreenMart Maryland, we continue to expand upon our existing presence in Maryland, achieving a milestone that is integral to our overall expansion plans, which include a focus on limited-license markets," stated W. Scott Boyes, Chairman and Chief Executive Officer, MPX. "MPX is now managing three dispensaries in Maryland and one of only fifteen concentrate processing operations."
mCig Inc. (OTC: MCIG) is a diversified company servicing the legal cannabis, hemp, and CBD markets via its lifestyle brands. The Company recently provided an update for its HEMP project and new line of CBD products. "With different company divisions getting a traction and starting to show a real growth we finally decided to jump start our CBD division with an introduction of a new line of hemp products, that will include natural skin cosmetics, full spectrum tinctures and probiotic pets' edibles. Today we have all the right pieces in place together: a hemp farm run by professional farmers, experienced research and development team, led by Arkady Uryash, MD Ph.D., and strong goal-oriented sales and marketing team. The big role in our growth strategy will play online sales, where the company will introduce its new online store but also a marketplace of CBD products from different manufacturers, long-awaited project, that only now can be a success with having on board a new team of professionals. We see changes on the horizon for our industry."
Freedom Leaf Inc. (OTCQB: FRLF) is a group of diversified, international, vertically-integrated hemp businesses concentrating on health, wellness, and education as well as cannabis media companies. The Company recently announced that it has consummated a 100% acquisition of Tierra Science Global, LLC, a company specializing in health supplements supporting peak bio-energy levels in humans which are currently distributed via highly motivated direct sales teams and well-established affiliate programs in Europe, Asia and the United States. Freedom Leaf will take the brand and potential revenues one significant step further by manufacturing a number of unique Full Spectrum Hemp/CBD oil products including two skin serums by renown Beverly Hills Anti-Aging Practitioner, Dr. Naina Sachdev (NAINAMD). Manufacturing will be done by Freedom Leaf's wholly-owned subsidiary, IRIE CBD Medicinals and will include the launch of an assertive affiliate marketing campaign to market and distribute Tierra branded products such as pain cream, calming tinctures, honey sticks and more to meet ever increasing demand for these products worldwide. Freedom Leaf Chief Executive Officer, Cliff Perry is confident that Tierra will achieve new revenue highs expeditiously toward additional profits and increase in shareholder value.
United Cannabis Corporation (OTCQB: CNAB) is a biotechnology company dedicated to the development of phyto-therapeutic based products supported by patented technologies for the pharmaceutical, medical, and industrial markets. The Company recently announced that it has initiated clinical trials on its Prana Bio Nutrient Medicinals P1 Capsules for the treatment of chronic pain at Jamaica's University of the West Indies. The study, titled, "An Open Label, Phase 1, 2-Way crossover study evaluating the pharmacokinetics of Prana P1 THC activated capsules," is be conducted in conjunction with Cannabinoid Research & Development ("CRD"), the Company's Jamaican subsidiary, at the Centre For Cannabis Research at the University's Mona Campus. Earnest Blackmon, Chief Executive Officer of United Cannabis, commented on the announcement, "We are very proud to announce the commencement of our clinical trials; we have been working toward this goal since we started the Company. The Prana products represent the culmination of years of research and development, and I am confident that the results will confirm the anecdotal evidence we have seen with patients since first introducing our Prana product line six years ago."
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