NEW YORK, October 29, 2018 /PRNewswire/ --
According to data publishedby Genesis Market Insights, the global marijuana market was valued at USD 17.18 Billion in 2017. Furthermore, the market is projected to reach USD 58.90 Billion during the forecast period of
Alongside economic growth, the industry will also witness job growth during the forecast period. In the U.S., California is expected to create 99,000 new jobs in the industry, accounting for approximately a third of the country. By 2021, there will be a total of 414,000 FTEs among legalized states, led mainly by six states that had adopted legalization early on: California, Colorado, Massachusetts, Nevada, Oregon and Washington. "Across the country, Americans are worried about being able to find jobs and support their families," said Tom Adams, Editor-in-Chief at Arcview Market Research and Principal Analyst at BDS Analytics. "The numerous employment opportunities created by the cannabis industry, especially in states that are legalizing adult use, cross the spectrum from retail and service jobs to science, technology and other traditional professions. Voters have noticed, and now legislators are waking up to the opportunities."
CLS Holdings, USA Inc. (OTCQB: CLSH) earlier this month announced that, "it has entered into an agreement with a Canadian agent (the "Agent"), whereby the Agent will assist the Company in selling on a commercially reasonable efforts private placement basis, up to US$40 million aggregate principal amount of senior unsecured debentures ("Debentures") with an issue price of US$1,000 per Debenture, convertible into units of the Company (the "Units") at the option of the holder at a conversion price of US$0.80 per Unit (the "Conversion Price") at any time prior to the close of business on the earlier of: (i) the last business day immediately preceding the maturity date of the Debentures, being the date that is three (3) years from the closing date of the Offering (the "Closing Date"), and (ii) the date fixed for redemption (as set out in the Debentures (the "Offering"). Each Unit shall be comprised of one common share of the Company (a "Common Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant shall be exercisable into one Common Share at a price of US$1.10 per Warrant (the "Exercise Price") for a period of 36 months from the Closing Date… The Company intends to use the net proceeds of the Offering to fund the upfront loan payment to In Good Health Inc., to fund construction activities at the Leicester facility, to complete improvements to the North Las Vegas cultivation facility and for general working capital purposes."
On September 17th, 2018 CLS Holdings USA Inc. also announced that, "it has executed two Letters of Intent (LOIs) to enter the rapidly growing Massachusetts market. CLS looks forward to the opportunity to enter the Massachusetts market, which has been operating as a legalized medical jurisdiction since 2015 and has approved legalized recreational use.
CLS has agreed in principle to loan $5 million to In Good Health, a licensed medical dispensary in Brockton, Massachusetts with a significant market share. Along with the loan, CLS will have an option to acquire InGood Health. InGood Health is located 25 miles south of downtown Boston and is one of the 38 licensed dispensaries in the state. The Brockton dispensary was the second licensed dispensary in the state and has been operational since September 2015, which has been medical only up until this time. In Good Health is currently servicing 17,000 registered patients and delivering to 1,700 homes with key product offerings of flower, concentrates, vapes, edibles, pre-rolls and tinctures. CLS has also agreed in principle to form an 80/20 joint venture with CannAssist, which CLS will own 80%. CannAssist plans to build out a recreationally licensed cultivation grow facility in Leicester, Massachusetts. The planned Leicester 86,000 square foot facility is in possession of its host community agreement, is awaiting state acknowledgement of its pending recreational licenses and upon completion will be the third largest cultivation grow in the state. The Leicester facility is anticipated to produce its first harvest in the fourth quarter of 2019 and be able to produce 28,000 lbs of flower along with 858,000 grams of extract once it is operating at capacity. At current pricing of $3,500 per pound of flower and $40 per gram of extract, total capacity is expected to reach $120 million in revenue. CLS anticipates generating substantial positive cash flow from the joint venture. Massachusetts has a population of 6.9 million people as compared to 5.6 million people in Colorado. Massachusetts is also centrally located to the dense population of New England with a less than 100-mile drive from Rhode Island, Connecticut, New York, New Hampshire and Vermont. In 2017, Colorado generated $1.5 billion in legalized marijuana sales and had over 500 licensed dispensaries and over 700 licensed cultivation facilities. Massachusetts currently has issued only 39 licensees.
Jeff Binder, Chief Executive Officer of CLS Holdings USA, commented, 'We are extremely excited to have the opportunity to enter the Massachusetts market. It's something we have been eyeing for a long time given the attractive characteristics and recent approval of adult use cannabis. This opportunity fits into our stated objective of entering markets that are on the cusp of implementing a robust adult use market.'
David Noble, President of InGood Health and Partner of CannAssist, commented, 'I am proud of all our team has accomplished to create a leading medical marijuana dispensary. I look forward to continuing our mission and hard work We look forward to the opportunity to be part of one of the top companies in the field. This will ensure that we can provide the highest quality products to patients and customers for many years to come.'
Jon Napoli, Managing Partner, CannAssist, stated, 'We have been working with the city of Leicester for the past 12 months on this project and are pleased to receive all necessary approvals. This will bring a number of employment opportunities to this community and we look forward to being a reliable partner and producing some of the finest quality cannabis in the state.'"
To view our exclusive interview with Director Andrew Glashow of CLS Holdings USA Inc. Live from Times Square in New York City, please see HD video here: https://www.youtube.com/watch?v=SvNA_pzi4iE
Canopy Growth Corporation (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. Canopy Growth Corporation recently announced the launch of a new brand for the recreational market in Canada, LBS (pronounced "L-B-S"). The Company has established a curated and world-recognized family of brands, both in-house and through partnerships with icons in the cannabis space. LBS is the latest exciting addition to join the family. The LBS brand slogan -- "Worth Its Weight In Gold" -- is a reference to the care and quality put into the brand's products and also to its roots in California, the Golden State. The Company name is also a nod to the shorthand for pounds. In addition to positioning itself as the gold standard in the cannabis industry, LBS will focus on embracing diversity and inclusiveness throughout all brand messaging and Company initiatives. LBS will offer a wide variety of cannabis strains and products, including flower, softgels, oil, and pre-rolls. "Canopy Growth was founded to pursue a "house of brands" strategy in order to be inclusive across multiple demographics and across multiple cannabis markets," said Mark Zekulin, President & Co-Chief Executive Officer, Canopy Growth. "We're excited to introduce LBS to adult-use consumers across Canada at a time when everything except the quality of the cannabis in the jar is changing."
New Age Beverages Corporation (NASDAQ: NBEV) is a Colorado-based healthy functional beverage company that was created over the past two years with the combination of Búcha Live Kombucha®, XingTea®, Coco-Libre®, and Marley®, to create a one-stop-shop solution for retailers and distributors providing healthier beverages in the disruptive growth segments of the USD 1 Trillion-dollar non-alcoholic beverage industry. New Age Beverages Corporation recently announced that the results of its CBD-infused portfolio released during the North American Convenience Store show at the Las Vegas Convention Center, October 7-10th, 2018. New Age was the 2nd most visited and searched booth out of 1,259 exhibitors at the show and ranked in the 100th percentile in terms of booth popularity, despite debuting their new CBD-Infused products offsite at the hotel connected to the convention center. At NACS New Age displayed their full portfolio of one-stop-shop healthy beverages and unveiled their "Live Healthy" campaign at the same time to unprecedented response and outranking some of the major other food and beverage companies at the show including Coca-Cola, Red-Bull, Monster, AB InBev, Campbells, and more than 1,000 others. "Placing 2nd at NACS is just unheard of and is new territory for New Age," commented Mike Cunningham, Senior Vice President of Sales. "And this doesn't even count the non-stop flow of retailers to our offsite location and standing room only CBD launch event. It is extremely gratifying to see retailers at the tipping point of taking greater positions in healthy beverages versus their legacy soft drink portfolios. New Age is in a leadership position to take advantage of this shift, and is one of the few scale companies that can meet all of the retailer's needs, as their customers demand more and more better-for-you products."
Organigram Holdings Inc. (OTCQX: OGRMF) is a TSX Venture Exchange listed company whose wholly owned subsidiary, Organigram Inc., is a licensed producer of cannabis and cannabis-derived products in Canada. Organigram Holdings Inc. recently announced that the Company has signed a supply agreement with the Province of British Columbia. In British Columbia (BC), Organigram has signed an agreement with the BC Liquor Distribution Branch (BCLDB), the sole, wholesale distributor of non-medical cannabis for the province that will operate standalone, public retail stores and provide online sales. "Organigram's strategic vision has always been to establish a definitive national footprint," says Greg Engel, Organigram's Chief Executive Officer. "We are proud to realize that vision and offer Canadians from coast to coast access to our growing recreational product portfolio."
MariMed Inc. (OTCQB: MRMD) is a multi-state cannabis operator that develops, owns and manages cannabis facilities and branded product lines. MariMed Inc.'s Chief Executive Officer Robert Fireman was a featured presenter at Canaccord Genuity's U.S. Canada Cannabis Symposium at the Sheraton Centre Toronto Hotel in Toronto, on Thursday, October 18th at 1:10 pm. As founder and CEO of MariMed Inc., a multi-state cannabis organization that owns and manages cannabis facilities, as well as many leading branded products, Fireman has grown MariMed from its early stages to a publicly-traded company. MariMed was recently named The Best Performing Marijuana Stock in 2018 by Fresh Toast, one of the 3 Best Cannabis Stocks of 2018 by Motley Fool, and one of five Top Cannabis Stocks to Watch by High Times. MariMed has developed and manages six facilities in five states, has five additional facilities under development, distributes its branded products in seven states, and boasts a market cap of approximately USD 900 Million.
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