NEW YORK, February 2, 2018 /PRNewswire/ --
According to a recentreport from Brightfield Group, the global cannabis market is presently worth $7.7 billion and is projected to reach $31.4 billion by 2021. The United States
The growing cannabis market is expected to have positive economic benefits, such as creating more jobs and generating tax revenue. According to MG News, Vivien Azer of Cowen & Co. said in a report: "When you consider ancillaries such as growers, testing labs, security, etc., the economic impact could range from $12.7 to $22.6 billion. Of note, these numbers do not include the impact of tourism, business taxes, licensing fees and paraphernalia sales, which could drive the economic impact higher."
FinCanna Capital Corp. (OTC: FNNZF) also listed on the Canadian Securities Exchange under the trading symbol 'CALI'. On January 24th the company announced 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).
MYM Nutraceuticals Inc. (OTCQB: MYMMF) is an innovative company focused on acquiring Health Canada licenses to produce and sell high-end organic medicinal cannabis supplements and topical products. On January 22, 2018, the company announced it has signed a Memorandum of Understanding (MoU) with NEWCANNA S.A.S., a leading Colombian medical cannabis company. MYM and NEWCANNA are proposing a joint venture or partnership agreement in which they would form a new, jointly owned company in Colombia. This partnership would focus on the large-scale commercial cultivation and transformation of cannabis and hemp for medical, scientific and industrial purposes and export to worldwide markets. NEWCANNA has agreements in place with multiple indigenous communities in Colombia totaling over 400 families (approx. 1,400 people) that control 7,400 acres of cultivation property. In 2018 the indigenous growers have the capacity to be producing approximately 217,500 kg of high-grade cannabis for processing and export worldwide. With planned production expansion with the indigenous growers, NEWCANNA's production is expected to be over 1,000,000 kg of cannabis in a year or two. The high mountains of Colombia provide a perfect climate to cultivate cannabis and allow production costs to be a fraction of what it costs to produce in Canada.
GB Sciences, Inc. (OTCQB: GBLX) is a diverse cannabis company, focused on standardized cultivation and production methods; as well as biopharmaceutical research and development. On December 13, 2017, the company announced its development of a cannabis strain that has an extremely high THC concentration, and also has a specifically-defined terpene profile, meaning that this potent strain may have significant medical benefits. The team was gratified to receive hard test results that verified their goal. The plant produced a THC-a content of 35.119%, as well as ?-myrcene levels of 2.18% and ?-caryophyllene levels of 1.01%, as tested by independent lab Digipath Labs, Inc. in Las Vegas. This strain is the result of an ongoing research project and is one of many tangible results of the coordination of the three operating units--- Life Sciences, Tissue Propagation, and Cultivation Labs.
American Cannabis Company, Inc. (OTCQB: AMMJ) offers end-to-end solutions to existing and aspiring participants in the cannabis industry. On January 17, 2018, the company announced that it has secured a consulting contract with Cloud 9 Apothecary in the state of California. In conjunction with the consulting agreement, ACC will acquire an equity stake in Cloud 9's project that is currently non-operational and in the development stage. This project, to be built-out and completed in Desert Springs, California, will comprise a closed-loop greenhouse containing a 22,000 square foot canopy of premium cannabis cultivars. With the construction of this facility, Cloud 9 Apothecary's plans focus on wholesale cultivation and product manufacturing. Plans to shift into a fully integrated business model, complete with dispensing solutions, will be made in the near future as Cloud 9 plans to scale up operations organically.
AXIM Biotechnologies, Inc. (OTCQB: AXIM) focuses on the research, development and production of cannabinoid-based pharmaceutical, nutraceutical and cosmetic products. On January 23, 2018, the company announced that it has successfully completed an exploratory meeting with the Dutch Medicines Evaluation Board on its MedChew Rx® clinical development program, which utilizes cannabinoid molecules for treatment of patients experiencing pain and spasticity associated with multiple sclerosis. In the meeting, the Company and the Dutch authorities discussed the overall development plan for MedChew Rx in the country and across Europe, including its delivery method, production process, and what further studies need to be conducted to bring the product to market. The Dutch regulatory agency expressed enthusiasm about AXIM's proprietary functional chewing gum delivery method and accepted the concept of using this as an alternative option to oral-mucosal spray, which is the delivery method being used by the only other cannabinoid-based medicine currently registered in the country and in Europe.
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