NEW YORK, Oct. 23, 2019 /PRNewswire/ — Following the emergence of the legal cannabis industry, the number of cannabis users steadily began to rise. Predominantly, most consumers are medical patients using cannabis to alleviate symptoms associated with cancer, HIV/AIDS, multiple sclerosis, and epilepsy. However, the recreational market is quickly outpacing the medical market in terms of overall revenue. Notably, U.S. states like California, Colorado, Nevada, and Washington are collectively delivering billions of dollars in annual revenue. And as the legal industry continues to expand, the four states are witnessing their sales grow. For instance, Colorado reported marijuana sales of USD 683.52 Million in 2014, which was the first year of legal recreational sales. To put that into perspective, during just the first half of 2019, Colorado reported sales of USD 984 Million. Overall, the state’s 2019 cannabis sales are already on track to surpass its 2018 total revenue of USD 1.54 Billion. The increasing sales are largely attributable to decriminalization efforts as well as research debunking common misconceptions about cannabis. And while the U.S. is the largest contributor to the global cannabis market, the country still has not yet federally legalized the plant. So far, the only two countries that have moved to legalize cannabis entirely are Canada and Uruguay. In particular, Canada’s market is positioned to become a global industry influencer as its cannabis market continues to mature. Canada’s second wave of legalization, which is expected to occur later in 2019, will legalize several types of cannabis products, including extracts, concentrates, and edibles. Overall, the second legalization is expected to draw in a large influx of new consumers, as well as drive additional sales from previously existing consumers. And as a result, the global legal marijuana market is expected to reach USD 146.4 Billion by 2025 while registering a CAGR of 34.6%, according to data compiled by Grand View Research. Newleaf Brands Inc. (OTC: NLBIF) (CSE: NLB), Aphria Inc. (NYSE: APHA) (TSX: APHA), Origin House (OTC: ORHOF) (CSE: OH), The Green Organic Dutchman Holdings Ltd. (OTC: TGODF) (TSX: TGOD), The Supreme Cannabis Company, Inc. (OTC: SPRWF) (TSX: FIRE)
The CBD market remains relatively small as opposed to the overall cannabis market. For instance, the U.S. cannabis market was valued at approximately USD 7.06 Billion in 2016 and is expected to grow at a CAGR of 24.9% throughout the forecast period from 2017 to 2025, according to Grand View Research. Nevertheless, the CBD marketplace is expected to witness exponential growth due to the recent passage of the Farm Bill. And although the CBD marketplace is still currently in its infancy stage, many large cannabis corporations and retailers are already investing into the market as it begins to take shape. Primarily, products such as tinctures, topicals, and capsules are in large demand because of their therapeutic effects, but other cannabis companies are also looking to leverage CBD for recreational purposes. In particular, the CBD edible and beverage segment is quickly gaining traction because consumers are ingesting products simply for relaxation. “On one hand, yes, it’s really surprising to see this young industry be at such huge numbers so quickly—and still kind of pulling itself together—and on the other side, I don’t think it’s a surprise at all, because it’s about time,” said Lex Pelger, Science Director at Bluebird Botanicals, said in an interview with Cannabis Dispensary. “With such a long human history of cannabis being an important plant, it makes sense that this is just exploding back onto the public consciousness like it does every couple decades.”
Newleaf Brands Inc. (OTC: NLBIF) (CSE: NLB) is also listed on the Canadian Securities Exchange under the ticker (CSE: NLB). Today, the Company announced breaking news that, “it has successfully passed an extensive testing of its CBD oil for pesticides, microbial and heavy metals completed by Botanacor Laboratories (“Botanacor”), a nationally recognized third party testing facility. Botanacor is the leading national industrial hemp and CBD testing laboratory which provides accurate, repeatable, and defensible testing data. The test results state that the following microbial were not detected in Kured’s CBD oil: aerobic plate count, coliforms, yeast and molds, Escherichia coli (E. coli) and salmonella. There was also zero detection of any pesticides or heavy metals.
Benjamin Martch CEO of Kured and CMO of NewLeaf Brands commented, ‘As vaping oil has been a hot topic in the news lately, we wanted to the extra mile to make sure that our oil was safe for our consumers. The overall quality of our oil is very important to us. Passing these tests shows that our formulation team is doing a great job.’
About NewLeaf Brands: NewLeaf Brands, Inc. is an innovative Cannabidiol (“CBD“) lifestyle Company. Through the Company’s wholly-owned subsidiaries We are Kured, LLC, Drink Fresh Water, LLC, ReLyfe Brand, LLC and TeaLief Brand, LLC the Company’s main business activities encompass the development, marketing, and distribution of CBD products (including vaporizer pens/cartridges, hot/cold tea, softgel capsules and beverages) throughout North America, South America, and Europe. In addition, NewLeaf Brands, Inc. has extensive retail and cultivation land investments in Oregon, USA.
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Aphria Inc. (NYSE: APHA) (TSX: APHA) is a leading global cannabis company driven by an unrelenting commitment to our people, the planet, product quality and innovation. Aphria Inc. recently announced that its subsidiary Marigold Projects Jamaica Limited had received a retail Herb House license from Jamaica’s Cannabis Licensing Authority to open its first store in Kingston, Jamaica. Marigold Projects, a 49% owned subsidiary of Aphria Inc., holds a Tier 3 license to cultivate more than 5-acres of land with cannabis for medical, scientific and therapeutic purposes. Marigold Projects cultivation farm is fully operational, and inventory at opening will exceed 2,700 kgs. The company maintains an additional 20-acres of vacant land in anticipation of expanding its cultivation operations, as well as a 10-acre farm in St Catherine. “The approval of Marigold’s first Herb House signals an exciting time for Aphria. We believe that there is tremendous opportunity in Jamaica from a domestic and international perspective and we look forward to bringing Sensi products to the market,” said Interim Chief Executive Officer, Irwin D. Simon. “Receiving this licence is testament to our team’s hard work and dedication in growing our Caribbean and LATAM business as we provide high-quality cannabis products in regions. Aphria will continue to execute on our business plan to create long-term value, sales growth, and profitably in Canada and internationally.”
Origin House (OTCQX: ORHOF) (CSE: OH) is a growing cannabis brands and distribution company operating across key markets in the U.S. and Canada, with a strategic focus on becoming a preeminent global house of cannabis brands. CannaRoyalty Corp. d/b/a Origin House recently announced its financial results for the three and six-month periods ended June 30th, 2019. The following are financial highlights of Origin House’s operating results for the three months ended June 30th, 2019, compared to the three months ended June 30th, 2018: Revenue was CAD21.4 Million as compared to CAD 3.5 Million; Gross margin including gains on biological assets was CAD 4.4 Million as compared to CAD 0.8 Million; Operating expenses were CAD 23.5 Million as compared to CAD 6.3 Million; Loss from operations was CAD 19.0 Million as compared to CAD 5.5 Million. Marc Lustig, Chairman and Chief Executive Officer of Origin House commented, “I am very proud of the entire Origin House team for generating another quarter of record revenue growth, leveraging the California brand support and distribution platform we built over the past several years, to deliver results for shareholders. It speaks to the strength and maturity of our organization that we were able to increase our share of shelf in California while preparing to integrate with Cresco Labs. To that end, in this quarter, we successfully executed on the sale of Alternative Medical Enterprises LLC generating a 156% return on investment, our distribution division Continuum entered into a distribution agreement with Cresco and began distributing Cresco branded products across California, and we have made substantial progress on post-closing groundwork.”
The Green Organic Dutchman Holdings Ltd. (OTCQX: TGODF) (TSX: TGOD) is a publicly traded, premium global organic cannabis company, with operations focused on medical cannabis markets in Canada, Europe, the Caribbean and Latin America, as well as the Canadian adult-use market. The Green Organic Dutchman Holdings Ltd. recently announced that it had completed its inaugural shipment to the Ontario Cannabis Store, marking the Company’s entrance into Canada’s recreational market. Ontario consumers will soon be able to experience TGOD’s acclaimed Unite Organic dried flower, the Company’s high THC signature strain. “We are thrilled to introduce Unite Organic dried flower to Ontario adult consumers. Launched earlier this year with our Grower’s Circle, Unite Organic was highly praised by medical patients. Our small pilot confirmed that market demand for premium certified organic cannabis exceeds available supply,” commented Brian Athaide, Chief Executive Officer of TGOD. “Today’s milestone gets us one step closer to achieving our vision of becoming the world’s leading brand for premium certified organic cannabis in both medical and recreational segments. We look forward to continuing to expand our distribution network as we ramp up production in the months ahead.”
The Supreme Cannabis Company, Inc. (OTCQX: SPRWF) (TSX: FIRE), is a global, diversified portfolio of distinct cannabis companies, products and brands. The Supreme Cannabis Company, Inc. recently announced the launch of Supreme Heights, an investment platform based in London, UK focused on opportunities in the UK and Europe’s CBD health and wellness space. Supreme Heights intends to make strategic investments in and provide support services to differentiated high-growth health and wellness businesses with focused brands and premium CBD offerings. Supreme Cannabis has launched Supreme Heights as a separate entity that will solely address opportunities in the UK and Europe’s CBD health and wellness market. Supreme Heights will benefit from Supreme Cannabis‘ regulatory, product commercialization, supply chain, marketing and capital markets expertise and corporate support services. Supreme Cannabis‘ management team has immense experience supporting health and wellness companies operating in Canada and international markets. Supreme Heights will draw on the Company’s experience launching premium brands. “The rapidly evolving CBD markets in the UK and Europe present compelling investment opportunities given the promising environments for new health and wellness companies to establish differentiated brands and capture meaningful market share. Supreme Heights is positioned to quickly act on attractive opportunities and establish an early mover advantage in the space,” said Navdeep Dhaliwal, Chief Executive Officer of Supreme Cannabis. “Supreme Heights will benefit from our experience launching some of the most premium cannabis brands in Canada and from the strong leadership and the deep industry connections of our UK partners. We look forward to driving value for Supreme Cannabis shareholders through this investment platform.”
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