NEW YORK, August 8, 2018 /PRNewswire/ --
According to data publishedby Forbes, Brightfield Group estimates that the global cannabis industry was worth USD 7.7 Billion at the end of 2017 and is projected to cross the USD 30 Billion mark by 2021. The industry
The legal cannabis market has become highly competitive at a staggering speed. According to Brightfield Group's official blog post, "With cannabis dispensary and product data now going back over two years, our surveys of marijuana product availability in major US state markets reveal several clear indicators that the market is growing increasingly competitive and crowded… One example of this is exhibited by the increase in the variety of branded products available at US dispensaries. Two years ago, the average US dispensary carried 94 different types of branded marijuana products. One year ago, that number had grown to 118, and by January of this year, a typical dispensary carried over 150 different branded products."
CLS Holdings USA Inc. (OTCQB: CLSH) yesterday announced breaking news that, "the closing of a USD 3 Million equity investment from Navy Capital Green International Ltd., a cannabis-focused institutional fund based in New York City. Under the terms of the agreement, Navy Capital and or select others may invest an additional USD 2 Million, with a 15% overallotment, for a total of up to USD 5,750,000.00 by August 15th, 2018.
Navy Capital has a vast network of relationships in the cannabis industry and is extremely interested in the CLS patented extraction and processing technology.
CLS now has all the funds in place to complete its build-out of its Las Vegas cultivation and production facility. In addition, CLS will utilize a portion of the proceeds to update its existing Oasis Cannabis dispensary location and improve its signage.
John Kaden, Managing Partner and Chief Investment Officer of Navy Capital, stated, 'We believe CLS Holdings possesses the premier vertically-integrated cannabis business in Nevada and when combined with the Company's opportunities in other major U.S. states and its cutting-edge scientific developments, we expect that CLS quickly will establish itself as one of the top companies in the emerging U.S. cannabis market.'
Jeff Binder, Chief Executive Officer of CLS, commented, 'We look forward to the added value that Navy Capital brings to CLS. It is a terrific corporate development to have an additional partner, of Navy Capital's stature, and we are excited by the expertise they bring to CLS.'
About Navy Capital - Navy Capital's research-oriented, fundamentally-driven investment process focuses on identifying attractive opportunities within the legal cannabis space. Navy Capital seeks to find the best in class businesses within key verticals of the global cannabis industry. Those verticals include Consumer, Healthcare, Technology, Industrials, and Agriculture. Navy Capital invests in 20-30 publicly traded and select private companies that will gain market share over time in their respective verticals. Businesses that have recurring revenue and management teams that have a large share of their net worth in the company and are deeply passionate about their culture and customers are the most attractive to it. For additional information, please visit: https://www.navycapital.com
About Oasis Cannabis (http://oasiscannabis.com) - Oasis Cannabis has operated a cannabis dispensary in the Las Vegasmarket since dispensaries first opened in Nevada in 2015 and has been recognized as one of the top marijuana retailers in the state. Its location within walking distance to the Las Vegas Strip and Downtown Las Vegas in combination with its delivery service to residents allows it to efficiently serve both locals and tourists in the Las Vegas area. The company recently commenced wholesale offerings of cannabis in Nevada with the launch of its City Trees brand of cannabis concentrates and cannabis-infused products in August 2017. An expansion of its cultivation and production facility is currently underway and is expected to be completed during the fourth quarter of 2018."
Canopy Growth Corp. (NYSE: CGC) is a world-leading diversified cannabis and hemp company, offering distinct brands and curated cannabis varieties in dried, oil and Softgel capsule forms. The Company recently announced that it has completed the previously announced acquisition of Canopy Health Innovations Inc. ("CHI"), including the subsidiary operations of Canopy Animal Health Inc. ("CAH"). The Company believes its strategy of integrating and aligning CHI's clinical platform with the international work of Spectrum Cannabis, will accelerate its comprehensive research programs, build evidence around Canopy products and formulations and ultimately improve patient access to medical cannabis globally. CHI has built a diversified business focused on unlocking the therapeutic and commercial potential of cannabis for both humans and animals. Incorporating CHI into this ecosystem as a wholly-owned subsidiary will increase efficiencies and unlock the full potential of CHI's significant IP portfolio including 39 patent applications filed with the United States Patent Trade Office. "Canopy Growth continues to expand its medical cannabis leadership around the globe with an ecosystem that includes world-class production and infrastructure, patient and healthcare practitioner education, and robust clinical research," said Mark Zekulin, President & Co-Chief Executive Officer, Canopy Growth.
Hydropothecary Corp. (OTC: HYYDF) creates and distributes innovative, easy-to-use and easy-to-understand products to serve the Canadian cannabis market. The Company recently announced, along with Molson Coors Canada, the Canadian business unit of Molson Coors Brewing Company, that they have entered into a definitive agreement to form a joint venture to pursue opportunities to develop non-alcoholic, cannabis-infused beverages for the Canadian market following legalization. "HEXO continues to lead the way for smoke-free cannabis innovation in Canada. We are excited about this partnership with Molson Coors Canada, an iconic leader in adult beverages, as we embark on the journey of building a brand new market. With this new Company, we are bringing together Quebec's oldest, most established Company with one of its newest success stories in a truly innovative partnership," said HEXO's Chief Executive Officer and Co-Founder Sebastien St-Louis. "As two leading Companies who share a track record of excellent practices, as well as respect for law and regulations, HEXO and Molson Coors Canada have established a relationship built on trust, and together we will develop responsible, high-quality cannabis-infused beverages for the consumable cannabis market in Canada."
MedMen Enterprises Inc. (OTCQB: MMNFF) is a leading cannabis company in the U.S. with assets and operations nationwide. The Company recently announced that the New York Department of Health has approved MedMen's request to manufacture and sell cannabis-infused lotions and topical pain-alleviating sprays for qualified medical marijuana patients. MedMen's four stores in New York currently offer vaporizer pens, tinctures and gel caps in five different formulations. Earlier this year, the state also approved MedMen adding ground flower in the form of metered pods to its product selection. MedMen is one of only 10 companies licensed to manufacture and sell medical marijuana in New York. In April, MedMen opened its flagship store on Fifth Avenue, only one of three licensed dispensaries in Manhattan. New York continues to expand its medical marijuana program. Recently, State Health Commissioner Howard Zucker filed emergency regulations allowing cannabis as a substitute for opioids, making medical marijuana legally accessible to patients currently using prescription opioids to treat severe pain. MedMen operates a cultivation and manufacturing facility in Utica, New York and four dispensaries statewide.
Leafbuyer Technologies Inc. (OTCQB: LBUY) is one of the most comprehensive online sources for cannabis deals and information. The Company recently announced that sales growth has increased by over 50% from Q4 2017 to Q4 2018. This growth comes on the back of continued expansion into new markets as well as increased product offerings, such as online pre-ordering and the Company's loyalty program. "Expansion plans started 9 months ago in Oregon, Washington, California, Nevada, and Arizona, and we are capitalizing on those markets," said John Valle, Director of Sales for Leafbuyer Technologies Inc. Valle went on to say, "We are pleased with our growth, and with California continuing its transition from non-licensed shops to licensed shops, we believe we are in a great position to work with those companies from day one."
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