Poll Shows Support for Marijuana Reaches All Time High

Thursday, January 25, 2018 General News
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LOS ANGELES, January 25, 2018 /PRNewswire/ --

FN Media Group LLC Presents USA News Group News Commentary

 

According to a new poll just released, it's not just individual states that are moving toward legalizing marijuana, it's the entire country.

This news supports the positive signals supporting cannabis industry, which is already

seeing huge demand as states move into legalization stages led by California.

Legal cannabis companies impacted in the grower and producer category include ABcann Global Corporation (OTC: ABCCF) (TSX-V: ABCN), Aphria (TSX: APH) (OTC: APHQF), AmeriCann, Inc. (OTC: ACAN) and MYM Nutraceuticals Inc. (CSE: MYM) (OTC: MYMMF).

In a significant shift in public opinion, the Pew Research Center found that six out of ten Americans now favor legalizing marijuana nationwide. That number has doubled in less than 20 years.

The news comes at a time when the legality of legislation is being questioned while the Feds act on rescinding current laws and try to find new ways to deal with the states.

Based on the shifting attitudes towards legalization and growth in demand, marijuana stocks have been trended higher with a recent dip following the moves by the Federal Government to rescind a previously positive stance towards medicinal and recreational use.

Leaders in the legal producer group include ABcann Global Corporation (OTCQB: ABCCF) (TSX-V: ABCN.V), Aphria (TSX: APH) (OTCQB: APHQF), and AmeriCann, Inc. (OTCQB: ACAN). These companies are already licensed legal growers of cannabis and are rapidly expanding their growing capacity to accommodate demands from new markets.

Several of the cannabis Licensed Producers (or LPs) are in the grower end of the business and combining their efforts with product development, sales and distribution. MYM Nutraceuticals Inc. (CSE: MYM) (OTCQB: MYMMF), is a unique example of a developer of three sizeable growing operations that is broadly diversified into multi-brand development and product distribution.

THE ACTUAL POLL NUMBERS 

"About six-in-ten Americans (61%) say the use of marijuana should be legalized, reflecting a steady increase over the past decade," Pew researchers write in their findings. "The survey, conducted in October [2017], finds that the share of U.S. adults who support marijuana legalization is little changed from about a year ago - when 57% favored it - but it is nearly double what it was in 2000 (31%)."

Pew's 2016 poll finding that 57% of Americans favored legalizing marijuana is also available online.

It should be stated that the poll's questioning did not draw a distinction between medical and recreational cannabis use. The poll simply asked, "Do you think the use of marijuana should be made legal or not?"

That broad wording could account for a higher number of positive responses, as respondents who favor medical-use only may be lumped in with people who favor full recreational adult use of cannabis.

FAVORABLE MEANS GREATER DEMAND 

The Pew Poll numbers are being clearly demonstrated in the actual growth of demand for marijuana.

Cannabis sales are expected to reach $3.8 billion in 2018 and up to $6.6 billion by 2025, according to projections from New Frontier Data.

Based on these numbers, this could increase nationwide sales of the plant to $24.1 billion by 2025 - a number that is going to continue to grow as more states enter the legal cannabis market in the coming years.

Then there's Canada, which is expected legalize recreational use in mid-2018.

The added demand for weed there is creating a real boom -one that could easily create a shortfall in just a few months' time. Remember, medical marijuana has been legal in Canada since 2001. According to their national health agency, the number of eligible registered medical patients is increasing by about 10% a month. 

MYM NUTRACEUTICALS SETS EXAMPLE 

Canadian based MYM Nutraceuticals is a perfect example of the efforts to increase marijuana supplies- MYM is making waves as a junior company quickly vaulting itself up the ranks of the legal producers in Canada.

The up and comer is advancing three planned facilities; a grow operation in Laval, Quebec to be come online shortly, a joint-venture for a 1 million square foot facility in Casino, Australia and the flagship facility; a 1.5 million square foot greenhouse facility in Weedon, Quebec.

Weedon will be a massive marijuana operation -one of the largest grow operations on the planet, housing the potential to produce over 150,000 kg of cannabis per year worth a staggering $750 million.

MYM Nutraceuticals is also diversifying; besides growing and cultivation at Laval, Casino and Weedon, MYM is advancing formulation and production to support branding and distribution of its entities Joshua Tree, MyHemp Skin Therapy, and HempMed offerings.

These subsidiaries develop and sell a variety of cannabis based natural products including custom-made cannabis products with tailored CBD chemistries along with tinctures, concentrates and oils, edibles, vape products and pet care products.

As the industry seeks more sophisticated solutions from legal suppliers, this model is likely to become more common in states taking the leading role like California and Colorado.

REALITY MEETS LEGALITY 

But even with the momentum towards legalization, the marijuana landscape in America faces challenges in the future.

"Marijuana remains illegal under federal law, and Attorney General Jeff Sessions announced that the Justice Department may step up enforcement in jurisdictions that have legalized the drug," the Pew summary points out.

However, there are massive numbers pushing legislators to make the right choices.

"The growing public support for legal marijuana comes as more states have legalized the drug for recreational purposes," the Pew findings assert. "Stores in California began selling recreational marijuana after voters legalized the practice in a November 2016 ballot measure. Seven other states and the District of Columbia have also legalized the drug for recreational purposes. Meanwhile, 29 states - plus the District of Columbia, Guam and Puerto Rico - have legalized the drug for medical purposes."

For the time being it appears a battle of wills that will play out in the legislatures, which ultimately replies upon public opinion.

POTENTIAL COMPARABLES 

ABcann Global Corporation (OTCQB: ABCCF) (TSX-V: ABCN.V)

ABcann Global Corporation recently announced that its wholly-owned subsidiary, ABcann Australia Pty Ltd. ("ABcann Australia"), has received an import license from the Federal Office of Drug Control in Australia. ABcann continues to work with government and its industry partners in Australia to develop exclusive programs targeting physician networks. Following receipt of any necessary approvals, including the approval of the TSX Venture Exchange, ABcann intends to supply medicinal cannabis to the Australian market via the Australian Department of Health's TGA (Therapeutic Goods Administration) Special Access Scheme. ABcann holds production and sales licenses from Health Canada. Its flagship facility in Napanee, Ontario contains proprietary plant-growing technology, centered on its specially designed, environmentally-controlled growing chambers. This approach results in the production of pharmaceutical-grade cannabis products. 

Aphria (TSX: APH) (OTCQB: APHQF)

Aphria Inc., boasts itself as one of Canada's lowest cost producers, that produces, supplies and sells medical cannabis. Located in the greenhouse capital of Canada, Leamington, Ontario, Aphria provides pharma-grade medical cannabis, and quality patient care. Aphria was the first public LP to report positive cash flow from operations, and the first to report positive earnings in consecutive quarters.

AmeriCann, Inc. (OTCQB: ACAN)

AmeriCann, Inc. develops, owns and supports advanced medical cannabis cultivation and processing facilities nationwide. The Company has a multi-market portfolio of over 1,000,000 square feet of sustainable cannabis production infrastructure in various stages of development. To support local businesses that seek to serve cannabis patients in their communities the company initiated the AmeriCann Preferred Partner Program. Through this program they provide an essential set of resources including advance cultivation facilities, access to a team of experts and in certain cases, capital for our partner's businesses. In addition, AmeriCann's team has been instrumental in winning cannabis licenses in competitive application processes throughout the country.

For a more in-depth look into MYM you can view the in-depth report at USA News Group: http://usanewsgroup.com/2017/12/04/like-it-or-not-the-cannabis-sector-is-unstoppable-and-its-just-getting-bigger/

Article Source: 

USA News Group 

http://usanewsgroup.com 

info@usanewsgroup.com

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DISCLAIMER: USA News Group is Source of all content listed above. FN Media Group, LLC (FNM), is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with USA News Group or any company mentioned herein. The commentary, views and opinions expressed in this release by USA News Group are solely those of USA News Group and are not shared by and do not reflect in any manner the views or opinions of FNM. FNM is not liable for any investment decisions by its readers or subscribers. FNM and its affiliated companies are a news dissemination and financial marketing solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM was not compensated by any public company mentioned herein to disseminate this press release.

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SOURCE USA News Group

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