NEW YORK, September 19, 2018 /PRNewswire/ --
According to data publishedby Research and Markets, the North American legal cannabis market value is projected to reach a value of approximately USD 35 Billion by 2023 while expanding at a CAGR of 27.1%. The North American legal cannabis market has already crossed the USD 8 Billion mark
On June 19th, Canada had legalized cannabis on a national level and became the first G20 country to do so. A research by PwC estimates that more than 100 licensed producers (LPs) are already in use in Canada's cannabis industry, and hundreds more are awaiting government approval. Darren Henderson, Partner at PwC Canada's Technology, InfoComm, and Entertainment & Media consulting explained, "The cannabis industry is blossoming. With the upcoming legalization of cannabis for recreational use by the Federal Government, the sector is expected to grow as producers, manufacturers, and companies from across the value chain embrace opportunities in both the recreational and medical markets."
Koios Beverage Corp. (OTC: KBEVF) is also listed on the Canadian Stock Exchange under (CSE: KBEV). Last week, the Company announced that it has, entered into a distribution agreement with Western Functional Beverages, a leading distributor of healthy, functional drinks targeting the fitness crowd in the state of Wyoming.
"We expect we'll be hitting store shelves early next month," said Gina Burrus, Vice-President of sales for Koios. "The Wyoming team is working very hard with us to ensure solid growth."
Koios is a leading innovator in the nootropic beverage industry, making functional beverages that are augmented with nutrients and/or supplements to convey a health benefit to the consumer.
Western Functional Beverages, a division of Western Distributing Co., distributes healthy drinks to cafes, gyms, yoga studios and other retail locations. It will now add Koios brands to its portfolio of beverages, which include teas, kombucha, coconut water, cold-brew coffee and the popular Jones Soda. It will begin distributing peach mango and pear guava immediately, eventually carrying the entire line of Koios beverages as they become available.
"The owners of Western are a lot like us, in that they have a passion for healthy products that create real benefits for their customers," said Chris Miller, Chief Executive Officer of Koios. "As a company, but also as people, they walk the walk when it comes to living and encouraging a healthy lifestyle and achieving a high level of fitness. Their focus is on products that are healthy, usually organic and that are environmentally sustainable."
"In that way, our beliefs and our philosophies are very similar. We believe they are the ideal team to work with in helping spread our message and our brand throughout the state of Wyoming," he added.
NightFood Holdings, Inc. (OTC: NGTF) operates both NightFood, Inc. and MJ Munchies, Inc. MJ Munchies, Inc., a wholly owned subsidiary of NightFood Holdings, Inc., recently provided this update to shareholders regarding recent Company and marijuana industry developments. On August 1st, 2018, the Company received confirmation from the State of California that its registration of the Half-Baked trademark of marijuana edibles has been fully approved and granted. On August 28th, 2018, confirmation was received that the United States Patent & Trademark Office officially published for opposition the Half-Baked trademark. This is typically the last step prior to a federal trademark being issued. With California registration now complete, federal trademark protection getting closer, and a Half-Baked patent filing in the works, the Company is working with its licensee in the State of California to identify next steps of the go-to-market plan. "Investors can have confidence that we will put the right deal together at the right time," commented Chief Executive Officer Sean Folkson. "We have built an extremely valuable asset here. It will continue to increase in value in the near-term future. When we do pull the trigger on an investment or partnership, I expect it could be a deal of great magnitude."
MassRoots, Inc. (OTCQB: MSRT) is one of the leading technology platforms for the regulated cannabis industry. The Company recently announced that it has relocated its corporate headquarters to Los Angeles, California. According to New Frontier Financial, the regulated cannabis market in California is one of the largest and most rapidly growing in the world, estimated to generate USD 3.09 Billion in cannabis sales by 2020. There are approximately 2,500 regulated dispensaries in the United States, according to New Frontier Financial. MassRoots' primary source of revenue is generated from listing and advertising subscription fees charged to dispensaries to gain exposure to the more than one million registered cannabis users on the Company's platform. "The number of dispensaries subscribing to MassRoots' platform is steadily increasing, and we believe that we can accelerate this growth with the expansion of our sales team," stated Isaac Dietrich, MassRoots' Chief Executive Officer. "We believe our paid offerings, available to regulated dispensaries across the United States, have the potential to grow foot-traffic and revenues at these businesses, and we look forward to introducing these dispensaries to our platform."
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 (dispensaries) and the award-winning Melting Point Extracts (high-margin concentrates wholesale) brands. MPX recently announced the opening of its first Health for Life dispensary in Maryland, located in downtown Bethesda. Residents of Bethesda and the surrounding areas will now have access to legal medical cannabis for the first time. Maryland patients with a medical cannabis commission ID card, and a strong interest in health and wellness, will now be able to obtain the medicine they need to live healthy and productive lives. "The people who live and work in and around downtown Bethesda are some of the most educated in the U.S. They have been treated by world-class doctors at some of the nation's best medical facilities including Walter Reed National Military Medical Center and NIH Clinical Center. Now they will have access to Maryland's best medical cannabis dispensary from a product and experience perspective," said Julie Winter Senior Vice President of East Coast Operations, MPX.
Golden Leaf Holdings Ltd. (OTCQB: GLDFF) is a Canadian company operating in multiple jurisdictions, including Canada, Oregon, Nevada, and California, with cultivation, production and retail operations built around recognized brands. Golden Leaf Holdings Ltd. recently announced it signed a definitive agreement to acquire a combined cultivation, production and retail license in Northern California, dubbed a "Sweet 16" license. It is one of only 16 licenses of its kind issued by the City of San Jose that allows the holder to operate in a vertically integrated fashion. "We are excited to introduce our brands and competencies to the 5th largest economy in the world. This is a natural progression given that we operate in the neighboring states of Oregon and Nevada. As part of an announcement we made August 13, 2018, we launched into the California market with our signing of the definitive agreement to purchase the assets of Tahoe Hydroponics Company, LLC and 11T Corp., which involves the acquisition of a ~28,800 ft^2 facility under development in Sacramento, California. Adding production and retail licenses complements our entry into California in a meaningful way. The approval of this single, multi-faceted license is expected to swiftly position us for this market. In anticipation of this development, my team has been working diligently on a wholesale and retail deployment plan, supported by investments in production and supply chain that we expect will generate revenues in a relatively short period of time from the date of closing," said William Simpson, Chief Executive Officer of Golden Leaf.
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