Sales of Medical and Recreational Cannabis Products Are Projected Rise

Thursday, April 12, 2018 General News
Email Print This Page Comment bookmark
Font : A-A+

FinancialBuzz.com News Commentary

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.

Subscribe Now! Watch us report LIVE https://www.youtube.com/FinancialBuzzMedia

Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz

Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz

Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/

About FinancialBuzz.com  

FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the 'Site') is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For body and mind inc, financial news dissemination and PR services, FinancialBuzz.com has been compensated five thousand dollars by the company. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.financialbuzz.com .

For further information:

Media Contact: info@financialbuzz.com , +1-877-601-1879

SOURCE FinancialBuzz.com



Post your Comments

Comments should be on the topic and should not be abusive. The editorial team reserves the right to review and moderate the comments posted on the site.
* Your comment can be maximum of 2500 characters
I agree to the terms and conditions

News A - Z

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

News Search

Medindia Newsletters

Subscribe to our Free Newsletters!

Terms & Conditions and Privacy Policy.

Find a Doctor

Press Release Category

Press Release Archive

Stay Connected

  • Available on the Android Market
  • Available on the App Store