NEW YORK, June 11, 2018 /PRNewswire/ -- According to a report by Grand ViewResearch, the global medical cannabis market is projected to reach a value of USD 55.8 Billion by 2025. After the 2016 Elections, the District of Columbia, along with 28 states, had legalized
A report by CNBC quotes MedMen CEO and co-founder Adam Bierman, who explains the current state of the industry, "There is so much excitement now around legalization nationally coming in Canada. There is so much excitement about the fact that California, Nevada, Maine and Massachusetts all legalized recreational marijuana. The Canadian public markets offer access to a lot of capital, with a lot of certainty and a lot of speed, and there is this appetite among global investors to invest in a U.S. play. Specifically, global investors want to invest in a U.S. play that has California exposure. Now is the time where it makes the most sense."
WeedMD Inc. (OTC: WDDMF) also listed on the Toronto Stock Exchange Venture under (TSX-V: WMD). Just earlier today the company announced breaking news that, "it has secured its Health Canada Cultivation Licence for the first four grow rooms within its 220,000 sq. ft. Phase I retrofit of its 610,000 sq. ft. modern greenhouse in Strathroy, Ontario.
With a fully-funded 220,000 sq. ft. retrofit in its final stage, the Company will progressively bring a total of 20 grow rooms online over the coming months. The first set of cannabis plants are ready to be transferred to the new facility over the next couple of weeks from the Company's fully-licensed and operational facility in Aylmer, Ontario, located 60 km away. When Phase I is complete, WeedMD's production profile has the possibility of increasing from 1,500 kg to more than 21,000 kg per annum. Additionally, the Company's fully-funded Phase II expansion is currently underway with an incremental 175,000 sq. ft conversion representing the possibility of an additional yield of 12,000 kg bringing the yearly total to the possibility of more than 33,000 kg by year-end 2018. Once fully retrofitted - bringing total square footage to 610,000 sq. ft. - the entire facility would have the possibility of producing over 50,000 kg annually.
"The milestones achieved in the last 12 months exemplify the break-out year we've had at WeedMD as we continue tracking to schedule and budget, while we refine our cannabis production methods and set benchmarks for cultivation in Canada," said Keith Merker, CFO of WeedMD. "Additionally, we've been increasing our headcount since the start of the year in anticipation of this licence, giving us ample time to train our new talent to hit the ground running as we begin expanded cultivation operations. With our state-of-the-art grow facilities, investment in talent acquisition, and the transformational merger announced recently with Hiku Brands Company Ltd. ("Hiku"; CSE: HIKU) (read here), we are positioning the Company and its shareholders for long-term success."
The Company's expansion into its large-scale modern greenhouse will be the main supply source for its medical cannabis patients, future adult-use consumers across Canada as well emerging international markets.
About WeedMD's Greenhouse
With a true-hybrid greenhouse, WeedMD will be able to produce indoor quality cannabis, with maximum efficiency. For more information, access our investor presentation here and corporate video here.
Hiku Brands Company Ltd. (OTC: DJACF) also listed on the Canadian Stock Exchange under (CSE: HIKU). Last week the company announced breaking news that it, "congratulates the Ontario Progressive Conservative Party on their election victory on June 7th, 2018 in Ontario. Democracy is a central tenet of our country that by its very nature is considerably divisive. This election was no different. With the votes tallied, and winners decided, it is time to get to the pressing work of governing and opposing for each of the parties. Hiku is a proudly Canadian cannabis company with its head office in Ontario. With its portfolio of iconic cannabis brands, including our private sector retail store front Tokyo Smoke, featuring locations across the country with the highest concentration in Ontario, Hiku is looking forward to the significant work ahead to educate and enlighten Ontario cannabis consumers and non-consumers alike as the federal government moves forward with legalization of adult use cannabis. Our retail brand Tokyo Smoke, winner of Brand of the Year at the Canadian Cannabis Awards, is particularly encouraged by PC leader, and Premier Elect, Doug Ford's commentary discussing how the private sector could play a role in cannabis retail in Ontario. Hiku looks forward to working cooperatively with the new government, the Ontario Cannabis Store, and other regulatory bodies as we all work together to ensure the people of Ontario have a safe, responsible, and educated experience with cannabis."
The Green Organic Dutchman Holdings Ltd. (OTC: TGODF) is a research & development company licensed under the Access to Cannabis for Medical Purposes Regulations to cultivate medical cannabis. It was recently announced that the Company has entered into an exclusive agreement with Stillwater Brands to license RIPPLE SC (Soluble Cannabinoids) ingredient technology, and other proprietary beverage and food technologies and formulations related to cannabinoid-infused consumer packaged goods including micro-dose and full-dose tea sticks within Canada and certain international jurisdictions outside of the USA. RIPPLE SC is a proprietary, patent-pending suite of low-calorie, fast-acting, water-soluble ingredient products that allows consumers or commercial manufacturers to simply and easily infuse cannabinoids into beverage and food products. RIPPLE SC has already proven its value in Colorado, where its consumer variant (marketed as Ripple Dissolvables) is among the fastest-growing products in the edibles category. RIPPLE SC technology also powers other high-end consumer brands such as Stillwater Tea and Whitewater Tea. "We believe that soluble cannabinoids and the consumer benefits they enable represent the future of functional foods," said Justin Singer, CEO of Stillwater Brands. "TGOD's emphasis on organic, high-quality consumer products makes the Company an ideal partner to carry our vision into the Canadian and international markets."
Canopy Growth Corporation (OTC: TWMJF) is a world-leading diversified cannabis and hemp company, offering distinct brands and curated cannabis varieties in dried, oil and Softgel capsule forms. In February, the company announce the signing of a definitive supply agreement with Sunniva Inc. Through the terms of this two-year agreement, Canopy Growth will purchase up to 90,000 kilograms of dried cannabis from Sunniva's wholly-owned Canadian subsidiary, Sunniva Medical Inc., a late-stage Access to Cannabis for Medical Purposes Regulations applicant, and sister company of Natural Health Services, the sector's largest non-Licensed Producer medical patient network with tens of thousands of active registrations in the ACMPR. The agreement will see Sunniva grow Canopy's existing line-up of award winning genetics as well as its own branded products, both for sale through Canopy Growth's extensive distribution network.
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.
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