U.S. Legal Cannabis Industry Expected to Contribute 414,000 Jobs by 2021

Wednesday, September 26, 2018 Drug News
Email Print This Page Comment bookmark
Font : A-A+

FinancialBuzz.com News Commentary

NEW YORK, September 26, 2018 /PRNewswire/ --

According to data compiled

by Arcview Market Research, in partnership with BDS Analytics, the U.S. total economic output from the legal cannabis market will grow 150% from USD 16 Billion in 2017 to USD 40 Billion by 2021.
The growth of the industry is attributable to the widespread legalization of recreational and medical usage. North American regions are projected to contribute to the majority of global legal cannabis sales. In 2017, North America dominated the medical cannabis market, reporting USD 5.7 Billion in sales, while recreational adult-use reported USD 2.5 Billion. By 2021, the adult-use segment is expected to take over as consumer spending is forecasted to hit USD 14.9 Billion, while the medical sector is expected to reach USD 7.7 Billion. FinCanna Capital Corp. (OTC: FNNZF), Invictus MD Strategies Corp. (OTC: IVITF), CannaRoyalty Corp. (OTC: CNNRF), The Green Organic Dutchman Holdings Ltd. (OTC: TGODF), Leafbuyer Technologies, Inc. (OTC: LBUY)

Alongside economic growth, the industry will also witness employment and 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."

FinCanna Capital Corp. (OTCQB: FNNZF) is also listed on the Canadian Securities Exchange under the trading symbol (CSE: CALI). Just earlier this morning the company announced breaking news that, "its investee company Refined Resin Technologies Inc. ("Refined Resin") of Oakland, California has received its first purchase order for THC distillate in the amount of US$840,000. Refined Resin is a cannabinoid research and refinery company that provides B2B products and services to licensed brands, dispensaries and distributors in the medical cannabis supply chain.

This purchase order was received from a high volume, top California cannabis brand that manufactures a diversified product line, which is distributed across the state. The purchase order of $840,000 is specified as a minimum annual amount with the expectation that monthly volumes and associated payments could escalate based on consistent delivery and performance.  

Refined Resin continues to meet with suppliers, contractors and potential customers in support of its commercial launch expected in early 2019. The company anticipates that this will be the first of a series of purchase orders it will acquire based on advanced discussions in progress with a number of interested parties.

Refined Resin is currently retrofitting a legally zoned, state-of-the-art medical cannabis extraction laboratory, in Oakland, California. Accordingly, this purchase order is non-binding as the Refined Resin facility is under construction and Refined Resin must also complete the licensing process. The facility is targeted to be fully operational by early 2019.

"To secure a large purchase order from a top California brand is a testament to the stature of the Refined Resin team and bodes well for future demand," said Andriyko Herchak, President and CEO of FinCanna Capital. "Refined Resin's principals have extensive experience in extraction, manufacturing, business operations and marketing that is evidenced by their ability to obtain an order of this size while still completing their production facility. This accomplishment is a clear demonstration of their ability to grow a lucrative business which should be highly rewarding for the Refined team and our FinCanna shareholders."

It is Refined Resin's intention to become a premier producer of bulk quantities of THC distillate and various high value concentrates produced via hydrocarbon-based solvent extraction. The company plans to provide white-labeling services to licensed brands and infused product manufacturers.

About FinCanna provides financing to top-tier companies in the licensed medical cannabis industry in exchange for a royalty on revenues. FinCanna, led by a team of finance and industry experts, is building its diversified portfolio of royalty investments in scalable, best-in-class projects and companies in U.S. legal states, with a focus on California. For additional information visit http://www.fincannacapital.com"

Invictus MD Strategies Corp. (OTCQX: IVITF) is a global cannabis company offering a selection of products under a wide range of lifestyle brands. Recently, the Company announced it have completed its first shipment of recreational cannabis to British Columbia on time, following its inaugural shipment to Alberta. Staff have been working around the clock to meet aggressive deadlines set to ensure Invictus products are available to adult consumers on October 17th, 2018. This significant milestone was made possible by the Company's balanced and deliberate approach towards cultivation and regulatory compliance. While Invictus focused on expansion of its cultivation facilities, Acreage Pharms secured excise stamps and Health Canada approved packaging for the adult recreational market early, allowing Purchase Orders to be completed on time and without issue. Invictus is scaling up its cultivation facilities to support local and international opportunities, with its Phase 3 and 4 expansion at Acreage Pharms constructed to support world-class EU-GMP standards. The 90,000 sq. ft. Phase 3 facility, expected to be complete in January 2019, is fully funded as a result of the previously announced USD 25.5 Million loan from ATB Financial.

CannaRoyalty Corp. (OTCQX: CNNRF) is a North American cannabis consumer product company currently focused on building a leading distribution business in California. Recently, the Company announced that 420 Wellness, a subsidiary of investee 180 Smoke, has been approved by the City of Calgary to open its first cannabis dispensary in the city, pending approval from the Alberta Gaming and Liquor Commission. Since CannaRoyalty and Trichome's previously disclosed initial investment in May 2018, 180 Smoke has expanded its retail footprint with a focus on increasing the company's presence outside of the Greater Toronto Area (GTA). In addition to the recently approved Calgary location, 180 Smoke is opening two vape store locations in Edmonton, AB. In the GTA, 180 Smoke recently opened a flagship location on Queen Street West, which is the fastest growing store in the network. On the back of an expanding retail footprint and continued same-store sales growth, 180 Smoke has grown revenues 51% year-over-year to USD 6.78 Million for the eight-month period ended August 2018, for an annualized revenue pace of roughly USD 11 Million

The Green Organic Dutchman Holdings Ltd. (OTCQX: TGODF) is a research & development company licensed under the Access to Cannabis for Medical Purposes Regulations ("ACMPR") to cultivate medical cannabis. Earlier this month, the Company announced the launch of its premium, certified organic cannabis brand. This preeminent launch coincides with Canadian Organic Week, the largest annual celebration of organic food, farming and products across the country. This is a pivotal step for the Company in becoming the largest, organic cannabis brand in the world. In addition to producing a premium cannabis experience, TGOD will be the industry leader in sustainability and environmental standards. Production of organic nutrients requires less processing, and organic pest control has less environmental impact due to fewer chemicals entering the ecosystem. TGOD will operate the largest LEED-certified facility in the world and is building all facilities to GMP standards. LEED is an internationally recognized green building certification system, including energy savings, water efficiency, CO2 emission reduction, and indoor environmental quality.  

Leafbuyer Technologies, Inc. (OTCQB: LBUY) is one of the most comprehensive online sources for cannabis deals and information. Leafbuyer Technologies, Inc. recently announced a non-binding letter of intent to acquire California-based Greenlight Technologies. Greenlight provides cannabis consumers real-time mobile ordering and loyalty rewards through a native application that integrates with the local dispensary's point of sale system. "We believe Greenlight's technology and team will be a tremendous addition to Leafbuyer. Their presence in California will allow us to serve that rapidly growing market and tap into a significant new revenue stream. Offering mobile app pre-ordering will allow consumers to skip long lines and enjoy a better overall experience. We believe this service will offer dispensaries a powerful new tool and will allow us to cross-sell the Leafbuyer suite of solutions to a much larger sector of the market," said Kurt Rossner, Chairman and Chief Executive Officer of Leafbuyer.

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 FinCanna Capital Corp. 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

URL: http://www.FinancialBuzz.com

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