APH in Jan. 9 PR NewsWire Release: "California Legalizes ...COPY & PASTE (just found this on WebBroker) ... hope it's okay to post something this long ... if not slap my hand and I won't do it again
Page 1: California Legalizes Cannabis with Canada Looming
PR NewsWire News Release
2018-01-09T09:00:00-05:00
NEW YORK, January 9, 2018 /PRNewswire/ --
According to a report by Ameri Research Inc., the global legal cannabis market was valued at $14.3 billion in 2016 and is estimated to grow at a CAGR of 21.1% between 2017 to 2024 and culminating to $63.5 billion by 2024. The market is going through a period of strong development thanks to growing legalization and decriminalization of cannabis products across North America and Europe. The report indicates that due to the complex regulatory structure at state and federal levels, the full potential of the market is not realized. In the U.S, currently 28 states have approved the use of cannabis products for medical purposes. In addition, major markets like Colorado, California, Alaska, Massachusetts and Nevada approved cannabis for recreational use. Doja Cannabis Co Ltd. (OTC: DJACF), Golden Leaf Holdings Ltd. (OTC: GLDFF), New Age Farm Inc. (OTC: NWGFF), Future Farm Technologies Inc. (OTC: FFRMF), Cannabis Wheaton Income Corp. (OTC: CBWTF)
California's new recreational cannabis laws went into effect on January 1st, 2018. While California is the largest market, Canada is projected to show strong sales as well. Deloitte's report estimates the Canadian market will be worth at least $5B in sales in 2018. Tom Adams, Editor-in-Chief at Arcview Market Research and Principal Analyst at BDS Analytics explained, "Our data shows positive indicators across the board for the legal cannabis industry, in North America and around the globe... The passage of the 2016 ballot initiatives and continued maturation of the existing Adult-Use markets are the primary drivers of the growth this year. That's nothing compared to what we can expect in 2018 and beyond from Nevada's tourism, and California and Canada planning to launch Adult-Use sales in 2018."
Doja Cannabis Co Ltd. (OTC: DJACF) also listed on the also listed on the Canadian Stock Exchange under the Ticker 'DOJA'. Just earlier today the company announced breaking news that, "closing of its previously announced non-brokered private placement of subscription receipts (the "Subscription Receipts") whereby Aphria Inc. (" Aphria ") (TSX:APH and US OTC: APHQF) and Koicha Partners LP acquired from DOJA an aggregate of 8,992,807 Subscription Receipts of the Company at a price per Subscription Receipt of $1.39 for gross proceeds of $12,500,001.73 (the " Offering ").
The financing supports the strategic positioning of Hiku Brands Company Ltd. (" Hiku "), the anticipated combined company resulting from the merger (the " Merger ") of DOJA and TS Brandco Holdings Inc. (" Tokyo Smoke "), an award-winning lifestyle brand and retail-focused cannabis company (see DOJA's press release of December 21, 2017). The merger of DOJA and Tokyo Smoke creates the first retail-focused, craft cannabis producer, and with a portfolio of highly recognizable brands, Hiku is strategically positioned to become the preeminent craft cannabis brand house in the Canadian adult-use cannabis market.
"We're thrilled to have strategic partners in Aphria and Koicha Partners," said Trent Kitsch, CEO of DOJA. "Once the merger with Tokyo Smoke goes through, this strategic investment will strengthen Hiku, financially as well as through its brand recognition and product and market reach. Expanding Hiku's retail footprint, targeting provinces allowing private cannabis retail, and building a
portfolio of recognizable consumer brands and products will be key differentiators for Hiku."
Upon completion of the merger and formation of Hiku, a new Board of Advisors will be appointed, with expert leadership in retail, finance, cannabis and branding. The first such appointment is Canadian retail maven Joe Mimran . Mr. Mimran, a fashion designer and entrepreneur, has launched and ran numerous iconic fashion brands including Club Monaco and Joe Fresh.
"I strongly believe that Hiku will be the market leader in recreational cannabis, at the critical intersection of brand and retail," commented Mr. Mimran. "Their focus on quality and customer experience matched with a keen eye for aesthetic has long been the hallmark of successful retail in Canada..."
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