NEW YORK, June 6, 2018 /PRNewswire/ --
A report by Energias MarketResearch, predicts that the global medical cannabis market will grow significantly from USD 8.28 billion in 2017 to USD 28.07 billion in 2024 and at a CAGR of 19.1% from 2018 to 2024. Factors
Earlier this year California had started legal sales of recreational cannabis. While sales are growing, there are concerns that supply will fall short of demand. According to a report by the Chicago Tribune, Charles Boldwyn, Chief Compliance Officer of ShowGrow in Santa Ana, explained, "We're looking at hundreds of licensed cultivators and manufacturers coming out of an environment where we literally had thousands of people who were cultivating and manufacturing… So the red tape is a bit of a bottleneck in the supply chain." Despite the concerns, the market in California is expected to witness strong growth. The State Department of Finance expects Californians to purchase about 1 million pounds of cannabis over the first full year of legalization, between July 1, 2018, and June 30, 2019.
Helix TCS, Inc. (OTCQB: HLIX) in conjunction with its strategic capital partner, Rose Capital, announce earlier this week, "the closing of its previously reported merger with Bio-Tech Medical Software, Inc. dba BioTrackTHC. The merger closed on June 1st. Zachary L. Venegas will continue as the CEO of Helix TCS, Inc., and is to assume the role of Executive Chairman for the combined company. As previously announced, Patrick Vo will continue as CEO of BioTrack."
"The closing of this merger is a landmark event for Helix and BioTrack from a strategic and operational perspective. As a combined company, we are unique in the industry in serving virtually every segment of the market - whether it is compliance software through BioTrack, the wholesale marketplace through Cannabase, security, transport, or cash services through Helix, or the advisory that we can provide customers due to our data infrastructure. We continue to support our clients in whatever challenges they face in becoming safer, stronger, and more profitable, whether they operate in the U.S. or internationally. At the same time, investors will see margin improvement as reporting and administrative costs are spread across a much larger revenue base and costs are rationalized."
"As a combined company with $12MM in 2017 revenue, we will continue to generate greater value for clients and shareholders. Helix's unrelenting focus on strategy and disciplined execution will allow Biotrack to further harness the spirit that made it a market pioneer, with significant market share in government, dispensary, and grow segments of the seed to sale market, and translate that spirit into renewed technological innovation and leadership."
"This transaction represents the next step in our evolution as a market leader. It is also another milestone achieved by using our team's deep experience in strategy, entrepreneurship, M&A, and frontier markets to build a world-class company." stated Mr. Venegas.
Venegas further added: "We are very excited to move ahead, and we would like to thank Rose Capital, who shared our vision and had the fortitude to finance the transaction, as well as the team at BioTrack, who have been stalwart partners throughout this transformational deal."
"BioTrackTHC celebrates a historic milestone today as we formally join the Helix family," said Patrick Vo, CEO of BioTrackTHC. "By merging with our highly regarded peer, under the Helix umbrella, we will be able to significantly increase our ability to deliver outstanding technology, capabilities and service to the cannabis industry while drawing on Helix's proven track record of fostering meaningful, strategic partnerships. The future has never looked brighter and we look forward to collaborating with Helix to embrace the exciting new challenges ahead."
Aurora Cannabis Inc. (OTCQB: ACBFF) announced it has appointed retained KCSA Strategic Communications, a leading New York-based communications firm, to support the Company's strategic communications and investor relations efforts in the United States. "Given Aurora's status as a global leader in the cannabis sector, we are adding skilled resources, both internally and externally, to help us share the Company's story of agility, innovation and execution with institutional and retail investors in the U.S. and around the world," said Cam Battley, Chief Corporate Officer. KCSA will implement a comprehensive communications program aimed at further increasing awareness of Aurora across the U.S. institutional and retail investment communities. Since its inception nearly fifty years ago, KCSA has developed a strong reputation for its work representing public companies, including a growing roster of cannabis companies.
Invictus MD Strategies Corp. (OTC: IVITF) owns and operates two cannabis production sites under the ACMPR in Canada with the vision of producing a variety of high quality and low-cost cannabis products and strains to the global market place as regulations permit. The company is highlighting major milestones as the fast-growing cannabis Company prepares for the coming recreational marketplace with new construction and development projects, fresh products and a dynamic and muscular approach to retail sales. "Our ambitious retail plan involves building out dispensaries across three provinces, as well as partnerships with multiple other sales platforms and industry colleagues. We are launching a first-of-its-kind zero-cleaning vaporizer called PODA, cultivating an ever-increasing portfolio of strains, and meeting ongoing construction and development goals," said Invictus Founder and CEO Dan Kriznic.
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. The company recently reported that through its partially owned subsidiaries it has finalized the purchase of 329 acres in the township of Weedon, Quebec to build its 1.5 million square foot state-of-the-art medicinal cannabis greenhouse facility. The existing on-site aggregate will benefit the company by saving construction costs of purchasing additional aggregate material for building needs. The second advantage of using on-site material is a lower environmental impact that will add value to the project's LEED certification process. In addition to the greenhouse facility, the project will include the multipurpose CannaCentre complex that will house a museum, auditorium, learning centre, restaurant, bookstore, hotel, and cannabis research and innovation centre. These projects will both generate revenue for the Company and serve as a meeting place and sharing centre for the benefit of cannabis research and development.
Terra Tech Corp. (OTCQX: TRTC) operates through multiple subsidiary businesses including: Blüm, IVXX Inc., Edible Garden, and MediFarm LLC. Blüm's retail and medical cannabis facilities provide the highest quality medical cannabis to patients who are looking for alternative treatments for their chronic medical conditions as well as premium cannabis to the adult-use market in Nevada and California. "Our Blüm retail dispensaries and wholesale high grade 'IVXX™' flowers and oils have emerged as leaders in the California and Nevada markets, cementing our reputation as a premium brand and driving rapid revenue growth for the Company over the past several quarters. Securing this capital injection will allow us to navigate Terra Tech through the next stage of its growth trajectory as we scale the business to provide for our large and growing customer base," said Derek Peterson, Chief Executive Officer of Terra Tech. He continues, "Our aggressive expansion plan is designed to build value for shareholders by further entrenching Terra Tech in the cannabis industry and securing our position as nationwide leaders in both the wholesale and retail markets."
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