NEW YORK, May 9, 2018 /PRNewswire/ --
Data provided by Energias MarketResearch, indicates that the global medical cannabis market is anticipated to 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
According to CBC, Canada is one of only two countries, together with the Netherlands - that currently exports cannabis, or allowing firms in Canada to take instant benefit of recent medical cannabis legalizations in more than 20 countries. CBC reported that the, "offerings in today's Canada medical marijuana market differ little from those used recreationally - the smokable plant and, more recently, oil extracts. More than 70 companies have licenses from the federal drug regulator, Health Canada, to cultivate, produce and sell medical marijuana, with more than half those licenses granted in 2017 or 2018."
Crop Infrastructure Corp. (OTC: CIICF) also listed on the Canadian Securities Exchange under the Ticker (CSE: CROP). Just earlier today the company announced breaking news that, "it has entered into a Membership Purchase Agreement dated May 7th 2018 (the "Agreement") with HUMBOLDT HOLDINGS LLC ("Humboldt"), a limited liability company incorporated under the laws of State of California, whereby the Company has agreed to advance up to US$2,000,000 to Humboldt for land and equipment purchased and the development of a 30,000 square foot greenhouse project intended for lease and brand licensing by Humboldt to licensed cannabis tenant growers (each, "Tenant") in return for a 30% interest in Humboldt.
The property currently consists of a 10,000 square foot existing cannabis greenhouse and has an existing building permit for the development of an additional 20,000 square feet of canopy. Humboldt intends to lease the property/infrastructure and license its branding to the Tenants. Humboldt also intends to commence construction of additional proprietary greenhouses consisting of 20,000 square feet of canopy. Once completed, the estimated Tenant production is expected to be approximately 2,000 pounds of flower per month. The closing of the transactions contemplated under the Agreement constitute a "Significant Transaction" in accordance with the policies of the Canadian Securities Exchange. To date, the Company has advanced US$1,278,950 and has earned a 30% interest in Humboldt.
The Hempire Company LLC of California is the holder of a 10,000 sqft medical marijuana cultivation license and a 20,000 sqft RRR license and is currently negotiating a tenancy agreement with Humboldt to lease the property and infrastructure and has already commenced cultivation in good faith.
CROP director N. Alex Horsley states, "This acquisition represents our entry into California, the largest cannabis market in the world. Work is now underway on Humboldt's facility to expand the greenhouse facility to 30,000 square feet of canopy with our new state-of-the-art greenhouse design. CROP continues to aggressively pursue new opportunities to expand its portfolio of tenant growers and infrastructure assets in strategic licensed jurisdictions."
Transaction - Pursuant to the terms of the Agreement, the Company has agreed to advance up to US$2,000,000 pursuant to an interest free loan which is repayable through 60% of the net after tax profits of Humboldt. As further incentive for advancement of the loan, the Company was issued a 30% membership interest in Humboldt which is governed by the terms of an operating agreement.
About Humboldt Holdings LLC - Located in Humboldt County California, the property is 8.46 acres and currently houses a 10,000 sqft greenhouse as well as a barn, garage and residence. On site are 5 x 5000 gallon water tanks, a well and pump house and a 30x60 drying shed. The property is zoned for a 10,000 sqft medical and a 20,000 sqft RRR license.
About CROP Infrastructure Corp. - CROP Infrastructure is engaged in the business of investing, constructing, owning, optimizing and branding light supplemented greenhouse projects for lease to cannabis producers and processors offering best-in-class operations. The Company's main focus is currently California and Washington.
Cronos Group Inc. (NASDAQ: CRON) is a globally diversified and vertically integrated cannabis company with a presence across four continents. Recently, the company announced financial results for the fourth quarter and fiscal year ended December 31, 2017. Sales increased by $3.5 million, or 636%, to $4.1 million in FY 2017. The Company completed significant improvements to the three pre-existing indoor production facilities at Peace Naturals Project Inc., to increase production capacity and efficiency. These facilities are now fully operational. Construction of building 4, a 286,000 sq. ft. production facility, remains on schedule and production is expected to commence in the second half of 2018. In the first quarter of 2018, the company completed construction of, received regulatory approvals for, and commenced cultivation of cannabis in, the 28,000 sq. ft. greenhouse at Peace Naturals. The greenhouse's first harvest is expected to occur in the second quarter of 2018.
MedReleaf Corp. (OTC: MEDFF) is an R&D-driven company dedicated to innovation, operational excellence and the production of top-quality cannabis. On April 27, 2018, the company announced that it has entered into a memorandum of understanding (MoU) with Niagara College to foster the development of cannabis production expertise in Canada through its Graduate Certificate program in Commercial Cannabis Production - Canada's first postsecondary credential in this emerging field. By partnering with Niagara College, MedReleaf is proud to be offering financial support for students and to be sharing its expertise to help develop the program's structure and curriculum in order to advance the development of the Canadian cannabis industry through a variety of activities.
Namaste Technologies Inc. (OTCQB: NXTTF) is a global leader in the sale of medical cannabis consumption devices. Recently, the company announced that it has signed an exclusive drop-shipping supply agreement with Ample Organics Inc. Ample Organics is Canada's leading seed-to-sale software platform, currently used by the majority of Canada's licensed producers of medical cannabis. Under the terms of the Agreement, Namaste will connect its cannabis hardware and accessory platform via API integration with Ample Organics' system. This will allow each of Ample Organics' LP customers to have instant access to a large variety of devices and accessories available for purchase during checkout. The Agreement will provide added value for Ample Organics customers by offering their patients industry-leading products.
Supreme Cannabis Company, Inc. (OTC: SPRWF) is a Canadian publicly traded company committed to becoming a leading cultivator and distributor of sun grown cannabis through its wholly-owned subsidiary 7ACRES. 7ACRES is a federally licensed producer of medical cannabis pursuant to the ACMPR operating inside a 342,000 sq. ft. Hybrid Facility. On March 20, 2018, the company announced that it has entered into a definitive agreement pursuant to which Supreme Cannabis will complete a C$10,000,000 strategic equity investment in Medigrow. Upon completion of the Investment, Supreme Cannabis will hold an approximate 10% ownership interest in Medigrow. Supreme Cannabis expects strong demand to exceed supply for medical cannabis oil globally and believes Lesotho is well suited to produce quality cannabis oil and Medigrow possesses the expertise to meet the highest quality standards. Concurrent with the completion of the Investment, Supreme Cannabis and Medigrow have agreed to enter into a long-term global distribution partnership for medical cannabis oil (as defined in the Access to Cannabis for Medical Purposes Regulations). The cannabis oil will be produced by Medigrow in Lesotho and subject to all government, and international regulatory approvals, the oil will be exported to Canada and other international markets.
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