Le Lézard
Classified in: Health, Business
Subjects: INO, MAT

Data Projects That the Global Cannabis Market is Slated to Rapidly Expand


NEW YORK, July 23, 2018 /PRNewswire/ --

According to Forbes, citing Brightfield Group, the global legal cannabis market is expected to reach USD 31.4 Billion by 2021. Currently, the global market is valued at about USD 7.7 Billion and is projected to grow at a CAGR of 60%, as other countries begin to pass cannabis regulations. The biggest market drivers are attributable to reformed regulations, high tax rates as well as the increasing medical usage. The U.S. currently contributes to 90% of the global market sales but is projected to drop to 57% by 2021, largely due to Canada's recent nationwide legalization of recreational cannabis, which is expected to close by the end of 2018. Most countries are legalizing cannabis on a medical scale, while only Uruguay, and now Canada, have legalized the plant entirely so far. Latin American and European countries are beginning to adopt medical cannabis use as well, and German political parties are considering legalization for recreational use. Auxly Cannabis Group Inc. (OTCQX: CBWTF), Aurora Cannabis Inc. (OTC: ACBFF), Cronos Group Inc. (NASDAQ: CRON), Kush Bottles Inc. (OTC: KSHB), Aphria Inc. (OTC: APHQF)

On June 19th Canada had passed a nationwide legalization of recreational cannabis usage, following Uruguay to become just the second nation to do so. The new laws are expected to create an innovative environment. According to a report by CBC, University of Waterloo entrepreneurship professor, Nada Basir, explained, "Where I think we're going to see a lot of startup activity around this new legislation is in activities outside the traditional growth and transaction of the product... typically, historically, this is where we see innovation really happen because it becomes the survival of the fittest, and to survive you're going to have to figure out how to scale, how you can be more efficient, how you can save costs."

Auxly Cannabis Group Inc. (OTCQX: CBWTF) is also listed on the Toronto Canadian Stock Venture Exchange under the ticker (TSX-V: XLY). Just earlier today, the company announced breaking news that, "its wholly-owned subsidiary, Kolab Project Inc. ("Kolab" or "Kolab Project"), has received its sales licence from Health Canada, pursuant to the Access to Cannabis for Medical Purposes Regulations. The sales licence authorizes Kolab to sell dried cannabis to registered Canadian medical patients across the country through its online portal at kolabproject.com. Kolab will source the best cannabis products from the entire Auxly cultivation platform and through partnerships with acclaimed growers from around the world. Among these will be Kolab's facility in Carleton Place, Ontario, where the second phase of construction has been completed and is expected to be commissioned for cultivation in the coming months. Once phase three is completed, the facility will total 20,000 sq. ft, have over 20 local employees and be a centre of excellence for the production of medical-grade cannabis.

"The sales licence marks a significant milestone in Kolab's development of a different kind of company - one that rethinks the patient experience," said Andrew Rock, Chief Operating Officer of Kolab. "As a craft grower, we are passionate about our product and take our commitment as a licensed producer seriously. Through our focus on research and development, we will produce the highest quality medical-grade cannabis. I am grateful to our team for the dedication and hard work that got us here and look forward to building a community that enriches the health and wellness of Canadian patients."

The Company is also pleased to announce that Kolab has been selected to apply for a cannabis retail permit in Lloydminster, Saskatchewan. The permit, if granted by the Saskatchewan Liquor and Gaming Authority, will allow for Kolab to operate one physical location in addition to a province-wide e-commerce platform to serve the adult-use market following the legalization of recreational cannabis. The Company is actively working to finalize details of the application and retail concept and anticipates having the retail outlet built and operating following legalization on October 17th, 2018, subject to regulatory and municipal approvals.

"We could not be more pleased with the issuance of the sales licence to Kolab. The receipt of the sales licence is instrumental in allowing Kolab and Auxly to execute on the broader business strategy of the entire platform. We remain convinced that Andrew has assembled the right team and is well equipped to deliver patients an elevated experience by sourcing the best products from across Auxly's cultivation partners." said Chuck Rifici, Chairman and CEO of Auxly, "We are also honored to have been selected as a retail cannabis store licence applicant in Saskatchewan. This new retail store and e-commerce presence in Saskatchewan serve as an important piece of Auxly's downstream distribution segment as we look to address both the medical and adult-use markets on a provincial and national basis."."

Aurora Cannabis Inc. (OTCQX: ACBFF), headquartered in Edmonton, Alberta, with funded capacity in excess of 430,000 kg per year and sales and operations in 14 countries across five continents, is one of the world's largest and leading cannabis companies. The Company recently announced that it has received shareholder approval at a special meeting for the issuance of shares in consideration for the planned acquisition of MedReleaf Corp., a well-known Canadian Licensed Producer based in Markham, Ontario that delivers premium medical cannabis products to domestic and global markets, and compelling brands to the adult-use recreational market. The combination of Aurora and MedReleaf, will yield a number of important strategic synergies allowing for accelerated growth: Industry-leading scale: Funded capacity will increase to over 570,000 kg of high-quality cannabis per year, to be delivered through nine facilities in Canada and two in Europe; Low production costs and industry-leading yields: Aurora's automated 'Sky Class' greenhouses are expected to deliver industry-leading efficiencies and ultra-low production costs of well below USD 1 per gram, delivering sustainably robust margins. MedReleaf's high-yield cultivation techniques are expected to further enhance productivity and reduce costs across the combined entity's facilities.

Cronos Group Inc. (NASDAQ: CRON) is a globally diversified and vertically integrated cannabis company with a presence across four continents. The Company recently announced that it has entered into a joint venture partnership with a group of investors led by Bert Mucci, one of Canada's most sophisticated greenhouse operators and builders. This partnership will function through a newly formed entity, Cronos Growing Company Inc., which will develop, construct and operate a state-of-the-art purpose-built greenhouse for cannabis production in Kingsville, Ontario. Cronos GrowCo plans to develop an approximately 850,000 sq. ft. custom-built greenhouse on about 100 acres of land owned by Cronos GrowCo in the established greenhouse region of Kingsville, Ontario. The Leamington/Kingsville region of Ontario is home to the largest concentration of greenhouses in North America and is commonly referred to as the "Sun Parlour," since the area boasts one of the warmest climates in Canada. Cronos Group expects that once the Facility is fully operational and licensed, the Facility will produce approximately 70,000 kilograms of cannabis per annum for Cronos GrowCo. "We believe this partnership serves as a textbook illustration of our strategy and how Cronos Group plans to execute on a global scale," said Mike Gorenstein, Chief Executive Officer of Cronos Group. "It leverages the data and intellectual property we have been creating at Peace Naturals, our center of excellence, to create capacity and operating leverage in Canada with a premier expert in greenhouse execution, all accomplished in a capital efficient manner."  

Kush Bottles Inc. (OTCQB: KSHB) is a dynamic sales platform that provides unique products and services for both businesses and consumers in the cannabis industry including cannabidiol manufacturers. Kush Bottles recently announced that it has acquired Zack Darling Creative Associates, LLC along with its wholly-owned subsidiary, The Hybrid Creative, LLC., a specialist design agency based in Santa Rosa, California. In 2015, ZDCA brought all of its cannabis and hydroponics projects into a single portfolio under the banner of The Hybrid Creative. Since then, the agency has experienced significant growth within the cannabis industry and has become one of the top cannabis branding agencies in the U.S. It continues to serve its clients in traditional industries, including some of the world's biggest solar brands, through the ZDCA parent company. Nick Kovacevich, Kush Bottles' Chief Executive Officer said, "As cannabis products become increasingly commoditized, more and more producers are focusing on brand development as a means of differentiating their products to ensure customer loyalty and improve their profit margins. Acquiring the Hybrid Creative complements our existing offering and we expect it will generate additional cross-selling opportunities by deepening our branding capabilities so that we can help our cannabis clients develop unique brands at the earliest stages of their development."

Aphria Inc. (OTCQB: APHQF) is a leading global cannabis company driven by an unrelenting commitment to our people, product quality and innovation. The Company recently announced that its planned expansion into Latin America and the Caribbean with the proposed acquisition of industry-leading companies in Colombia, Argentina, Jamaica and a right of first offer and refusal in respect of Brazil through a definitive share purchase agreement with Scythian Biosciences Inc. Aphria will acquire 100% of the issued and outstanding common shares of LATAM Holdings Inc., a direct, wholly-owned subsidiary of Scythian. "Aphria is proud with this initiative to create a true leader in medical cannabis across LATAM and extend our leadership in the global industry," said Vic Neufeld, Chief Executive Officer at Aphria. "We have spent a considerable amount of time and resources evaluating opportunities in Latin America and the Caribbean and we are confident in the long-term strategic opportunity and the value it will bring to our shareholders. The Transaction, once completed, will firmly place Aphria at the center of the medical cannabis industry in the region, and will provide the strong foundation, relationships and infrastructure to capture significant future growth as more LATAM and Caribbean markets evolve. We truly have the best international team in the business, and we are continuing to bring our industry-leading expertise, experience and know-how to strategic international markets."

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. Financialbuzz.com has not been compensated directly by any of the companies mentioned within this editorial. 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 Auxly Cannabis Group Inc. financial news dissemination and PR services, FinancialBuzz.com expects to be compensated four thousand dollars by Winning Media. 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:
[email protected]
+1-877-601-1879

Url: http://www.FinancialBuzz.com


SOURCE FinancialBuzz.com


These press releases may also interest you

at 15:17
Schools and colleges across the country rely on Immediate Post-Concussion Assessment and Cognitive Testing (ImPACT) evaluations to assess and manage student-athlete concussions on the sidelines. However, this FDA-cleared tool is not recommended for...

at 15:05
MAIA Biotechnology, Inc., ("MAIA", the "Company"), a clinical-stage biopharmaceutical company developing targeted immunotherapies for cancer, today announced that independent directors Cristian Luput and Ramiro Guerrero, J.D, LL.M. made individual...

at 15:05
University of Maryland School of Medicine (UMSOM) Dean Mark T. Gladwin, MD, announced today that Martine Rothblatt PhD, JD, MBA, Chairperson and CEO of United Therapeutics, and inventor of SiriusXM Satellite Radio, will deliver the keynote address...

at 15:00
Beghou Consulting announced Thursday several additions to its executive team to support the company's technology innovation, product development and growth initiatives. Dan Cardinal, a Partner at Beghou, will become Chief Technology Officer. The...

at 15:00
Urban Wellness Group, a pioneering wellness provider, is proud to announce its official launch of new anti-aging and sleep enhancement treatments to southeast Portland. Dr. Jason Zabell and Dr. Andy Swanson set themselves apart by pairing over 30...

at 14:55
Peninsula Canada, a global leading HR and health & safety firm, committed to making a positive impact in the community, is proud to announce a partnership with SickKids Foundation, a leading charity dedicated to supporting The Hospital for Sick...



News published on and distributed by: