Sales of Medical and Recreational Cannabis Products Are Projected Rise

Thursday, April 12, 2018 General News
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NEW YORK, April 12, 2018 /PRNewswire/ --

According to a report by

Energias Market Research, the global medical cannabis market is anticipated to grow significantly from USD 8.28 billion in 2017 to USD 28.07 billion in 2024, at a CAGR of 19.1% from 2018 to
2024. Factors driving the advances of the medical cannabis market include increasing recognition of medical benefits, stronger demand for cannabis in the treatment of various diseases, and rising number of research and development activities. Sales of cannabis products for recreational use are also expected to increase, as California's new recreational cannabis laws went into effect on January 1st, 2018. While California is the largest market, Canada is projected to show strong sales as well. Deloitte's report projects the Canadian market will be worth at least $5B in sales in 2018. Body and Mind Inc. (OTC: BMMJ), Cannabis Sativa, Inc. (OTC: CBDS), AXIM Biotechnologies, Inc. (OTC: AXIM), Emblem Corp. (OTC: EMMBF), Namaste Technologies Inc. (OTC: NXTTF)

Recently Forbes reported that a bipartisan pair of California lawmakers have announced a bill according to which the state excise tax on cannabis would drop from 15% to 11% for a period of three years. Beau Whitney, a senior economist at data analytics for New Frontier Data, which conducted an analysis of the bill, explained to Leafly that, "by lowering the excise tax and postponing the cultivation tax, it will lower the overall price for consumers at the register, which will also reduce the differential between illicit and legal prices… Reducing this gap is critical to making the legal market more competitive against the illicit market and more attractive for consumers."

Body and Mind Inc. (OTC: BMMJ) also listed on the Canadian Securities Exchange under the Ticker (CSE: BAMM). Just earlier today the company announced breaking news that it, "has teamed up with GPEN, a company which is at the forefront of engineering the most advanced, user-friendly portable vaporizers in the world. The Company has entered into a one-year, renewable contract with GPEN and will be one of only two companies currently supplying the GPEN Gio cartridges in the State of Nevada. The Company intends to capitalize on the market by incorporating BAM's recognized flavors into the cartridges.

BAM President Robert Hasman commented, "We're delighted to have signed this collaboration with GPEN, a leader in the vaporizer market.  This is further affirmation of the brand strength of BAM as a supplier of premium products, as well as our distribution system throughout the State."

Chris Folkerts, Founder and CEO of GPEN commented, "Our success to date has been choosing the right deployment partners in new markets.  As a result, the GPEN products will be available in over 500 dispensaries in the US by calendar year end.  Our partnership with BAM has been excellent.  Not only do they cultivate premium flower under a quality brand but they have an extensive distribution network that will see our products become more available in Nevada.  We are happy to report exceptional reviews so far and we look forward to expanding our relationship with BAM further."”

Cannabis Sativa, Inc. (OTCQB: CBDS) is engaged in the licensing of cannabis related intellectual property, marketing and branding for cannabis based products and services, operation of cannabis related technology services, and ancillary business activities. In 2017, the company announced that its subsidiary, PrestoDoctor, is expanding its online medical marijuana recommendation services into New York. PrestoDoctor currently serves patients via both their online platform and with dispensary kiosks operating in California and Nevada and will now extend their online services to patients located in the State of New York. PrestoDoctor offers the greatest privacy and convenience while still offering fully qualified medical marijuana recommendations. Furthermore, Presto's doctors are licensed with the appropriate state medical boards and complete periodic marijuana training courses.

AXIM Biotechnologies, Inc. (OTC: AXIM) focuses on the research, development and production of cannabis-based pharmaceutical, nutraceutical and cosmetic products. Earlier this year, the company announced that it has entered into a Memo of Understanding ("MOU") with a leading Korean specialty pharmaceutical company for the commercialization of two of the Company's cannabinoid-based propriety pharmaceutical applications, CanChew+™ and MedChew®, in South Korea. The MOU, which was reached on March 30, 2018, outlines how distribution partner will monitor the regulatory environment in the country and work with the South Korean Ministry of Food and Drug Safety ("MFDS") in order to register the products for sale to the more than 50 million people in South Korea.

Emblem Corp. (OTC: EMMBF), through its wholly-owned subsidiary Emblem Cannabis Corporation, is a fully integrated licensed producer and distributor of medical cannabis and cannabis derivatives in Canada under the ACMPR. Recently, the company announced that it has entered into a supplier agreement pursuant to which Emblem, through its wholly owned subsidiary, Emblem Cannabis Corp., will become a preferred cannabis supplier to Fire & Flower Inc. Subject to the approval and subsequent Royal Assent of Bill C-45, the proposed Cannabis Act(Canada) and the receipt by Fire & Flower of all required licensing under the applicable provincial cannabis regimes, pursuant to the Agreement, Emblem will supply Fire & Flower with Emblem branded cannabis products for an initial period of three consecutive years.  It is expected the products will be sold in-store in all provinces in which Fire & Flower operates and, if applicable, in which Emblem has received a provincial listing.

Namaste Technologies Inc. (OTCQB: NXTTF) is the largest online retailer for medical cannabis delivery systems globally. Recently, the company announced that the company has signed an amendment to the Letter of Intent dated April 4th, 2018 (the "LOI Amendment"). Under the terms of the LOI Amendment, 2624078 Ontario Inc. will apply for an Access to Cannabis for Medical Purposes Regulations ("ACMPR") license to produce and sell medical cannabis oils. If the ACMPR Licence is awarded, it will allow 2624078 Ontario Inc. to perform testing and strain development for Cannmart, as well as import cannabis materials and genetics for the production of quality cannabis extracts for research purposes under the dealer's licence it is also applying for. Additionally, if the ACMPR Licence is obtained, it would allow 2624078 Ontario Inc. to develop a leading brand of ACMPR compliant cannabis oils for sale to medical patients, other ACMPR licensed producers ("LPs") and provincial distribution channels for the upcoming recreational market.

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