More supportPopularity of Cannabis Products Increases in North America 01/18/2017 08:55 AM ET
NEW YORK, January 18, 2017 /PRNewswire via COMTEX News Network/ -- After the recent election cycle, it is clear the perception of people regarding the use of cannabis both for medical and recreational purposes are shifting. The evidence shows that not only are more Americans open to the use of cannabis, but the focus is coming from both the political and financial sectors. According to Arcview Market Research, the North American legal cannabis market posted $6.7 billion in revenue in 2016, up 30% from the previous year. The research projects sales will grow at a compound annual growth rate of 25% through 2021, at which point the North American cannabis market is projected to cross $20.2 billion in sales. Tom Adams, Editor in Chief of Arcview Market Research, said in a statement, "The only consumer industry categories I've seen reach $5 billion in annual spending and then post anything like 25% compound annual growth in the next five years are cable television (19%) in the 1990s and the broadband internet (29%) in the 2000s." Vinergy Resources Ltd. (CSE: VIN.CN), Aphria Inc. (TSX-V: APH.V) (OTCQB: APHQF), Aurora Cannabis (TSX-V: ACB.V) (OTCQB: ACBFF), Supreme Pharmaceuticals Inc. (CSE: SL.CN) (OTC: SPRWF), Tetra Bio-Pharma Inc. (CSE: TBP.CN) (OTC: GRPOF)
Canada is moving to potentially legalize cannabis this year, as the current Liberal Party government will introduce reforms this coming spring to legalize cannabis for recreational use, and not just medical. A Mackie Research Capital Corp. estimates that the Canadian marijuana market will be valued more than $2.5-billion by 2020, assuming full legalization, both for medical and recreational purposes, in 2017.
As the perception of the people towards cannabis based products changes, some companies have decided to strategically shift operations. Vinergy Resources Ltd. (CSE: VIN.CN), originally was engaged in the acquisition, exploration and development of oil and gas properties in Canada. Earlier on December 14th 2016 the company announced a Letter Agreement for the Acquisition of MJ Biopharma. According to the agreement, the company will acquire all of the issued and outstanding securities of MJ Biopharma.
Vinergy Resources Ltd. Announced earlier that, "it has appointed Dr. William Panenka, MD as Chair of the Company's Scientific Advisory Board (SAB). Bringing on the right human capital through strategic hires is an important part of the Company's strategy to develop, test and identify specific cannabinoid isolates for targeted therapeutic purposes.
Dr. Panenka received his M.D. and M.Sc. from the University of Calgary in Canada. His M.Sc. was basic science-focused utilizing Western Blotting, PCR, in-situ hybridization and other wet lab techniques to study the immune system. He completed residencies in both psychiatry and neurology at the University of British Columbia in Vancouver, Canada. Dr. Panenka is one of only two specialists in Western Canada with a unique dual certification from the College of Physicians and Surgeons of Canada in both the specialties of neurology and psychiatry.
In 2011 Dr. Panenka began a research fellowship focusing on the mental and physical health, as well as the brain imaging correlates of drug use, addictions, and traumatic brain injuries. In 2012, he became a research fellow at Harvard University and was competitively recruited to the University of British Columbia in 2013 as an assistant professor in psychiatry. His main focus is addiction and traumatic brain injury, with multiple basic science and clinical collaborations nationally and internationally. For the past five years Dr. Panenka has been involved in a large project funded by a CIHR team grant to longitudinally follow over 400 vulnerably housed individuals, with a high burden of addictions and mental health issues, in Vancouver's poorest neighborhood. They perform extensive cognitive phenotyping, neuropsychiatric assessments and multimodal MRI on participant, and follow them for 10 years. This study involves collaboration between multiple medical specialties, local health clinics, and community organizations. He is a Co-Investigator on an extension study that was just funded by CIHR and slated to run for the next five years.
Aphria Inc. (TSX-V: APH.V) (OTCQB: APHQF) has recently approved a $137 million capital project, known as the Part IV expansion. This project will grow the company's capacity under the Access to Cannabis for Medical Purposes Regulations from 300,000 square feet to 1,000,000 square feet. The Company's infrastructure will include an additional 250,000+ square feet, necessary to service the expected 70,000 kilograms of eventual annualized harvests. "Demand for medical cannabis remains strong," said Vic Neufeld, Chief Executive Officer. "Additional future medical cannabis distribution channels will only add to that demand. With over 260 acres of assembled land, Aphria has positioned itself to grow as the market for cannabis grows."
Aurora Cannabis (TSX-V: ACB.V) (OTCQB: ACBFF) medical plants are carefully brought to harvest in its purpose-built 55,200 square foot facility which are raised in the shadow of the Rockies in Mountain View County. The plants are cared for in a state-of-the-art facility designed to produce the cleanest, safest cannabis available on the market. Cultivating, harvesting, and selling Canadian Medical Marijuana, and all of the company's strains are currently offered at $8 per gram with $5 per gram compassionate pricing and free-shipping Canada wide.
Supreme Pharmaceuticals Inc. (CSE: SL.CN) (OTC: SPRWF) is a supplier of affordable cannabis through its wholly-owned subsidiary, 7ACRES. 7ACRES is a federally licensed grower of medical marijuana pursuant to the MMPR operating a 7ACRES Hybrid Greenhouse facility in Ontario. The Hybrid Greenhouse syndicates the best technology of indoor production with the competences and sustainability of a greenhouse, in a single large-format production footprint. Utilizing technology and modular design, Supreme harvests high quality marijuana at a low cost of production and the concentration of production in a single facility reduces management, operational and regulatory overhead compared to the increased overhead of multi-facility operations.
Tetra Bio-Pharma Inc. (CSE: TBP.CN) (OTC: GRPOF) engages in the development of Bio Pharmaceuticals and Natural Health Products containing Cannabis and other medicinal plant based elements. Tetra Bio Pharma is focused on combining the traditional methods of medicinal cannabis use with the supporting scientific validation and safety data required for inclusion into the existing bio pharma industry by regulators physicians and insurance companies. TBP invests significant time and capital into a continuous and sustainable pipe line of products based on patient needs and driven by scientific research and development, treating chronic pain, insomnia, PTSD, anxiety, and etc.