NEW YORK, April 7, 2017 /PRNewswire/ --
As legalization of cannabis products continue to grow around the world, the market evolved and becomes more diverse. A
research report by Grand View Research, Inc. expects that the legal medical cannabis market alone will reach a value of
USD 55.8 billion by 2025. After the elections in 2016, a total of 28 states have legalized cannabis
for medical uses. Now the growing number of states and countries getting approval for using cannabis products in therapeutic
applications is one of the crucial factors driving the demand over the coming few years.
The research report also points out that the regulatory framework requires every individual or the company associated with the
market such as growers, retail operators, and makers of processed pot products to obtain permission along with an annual state
license from 2018. An increasing number of issued licenses, especially after 2018, are also among factors driving the legal
cannabis market.
GrowGeneration Corp. (OTCQB: GRWG) earlier this week reported, record financial results for its fiscal year ended
December 31, 2016. Financial Highlights:
- Full-year revenues up 130% to $8.0 million
- Fourth quarter revenues up 130% to $2.4 million
- Full-year same-store sales increase 50% or $1.4 million
- Full-year net loss decreased to $431,246, inclusive of $304,123
in non-cash depreciation and stock-based compensation costs
- The Company has $1.2 million in cash as of March 31, 2017
Two days ago on April 5th, the company also announced that, "As a follow up to its recently
announced financing from Merida Capital Partners, a cannabis infrastructure fund, it has entered into a strategic partnership
with Merida to pursue opportunities across the infrastructure and ancillary cannabis industry. As part of the agreement:
- GrowGeneration will compensate Merida to provide advisory oversight and capital structuring for GrowGen's rapidly expanding
footprint in both the cannabis equipment and cultivation technology verticals.
- Merida will also be assisting in the launch of GrowGeneration Home, "An initiative to target the home grower with an array
of indoor growing products for growing plants for clean food, clean air and clean medicine, serving the organic food grower and
home cannabis grower verticals simultaneously."
Cara Therapeutics Inc. (NASDAQ: CARA) is a clinical-stage biotechnology company focused on developing and
commercializing new chemical entities designed to fundamentally change the way acute pain, chronic
pain and pruritus are
managed. Cara's most advanced Cannabinoid Receptor Agonist compound, CR701, is in preclinical development. "Cannabinoid
Receptor Agonists like CR701 have the potential to provide improved pain relief for patients suffering from neuropathic pain,"
explained Dr. Joseph Stauffer CMO Cara Therapeutics.
General Cannabis Corp. (OTCQB: CANN) announced on March 27th that its security division,
Iron Protection Group (IPG), the premier provider of protection services for the regulated cannabis industry, will begin offering
its services in California. By opening an office in Sacramento, IPG will serve the largest regulated cannabis market in
the world, now that the state voted to legalize the recreational use of marijuana for adults last November. "The demand for
security services in California is skyrocketing," said Hunter Garth, Managing Director of IPG. "As a known
security leader in Colorado, we are now seeing a dramatic rise in security and transportation requests from companies
throughout the state. By opening our first office in the state capital, we plan to fulfill a vital component of the regulated
cannabis industry in this substantial market."
Canopy Growth Corporation (OTC: TWMJF) has entered into an agreement to acquire rTrees Producers Limited ("rTrees").
rTrees is a late-stage ACMPR applicant based in Yorkton, Saskatchewan. Leveraging the
award-winning emerging global brand, Tweed, and paying tribute to the vast prairie grasslands, rTrees will operate as Tweed
Grasslands, producing high quality Western-grown products to support the Tweed brand and the new flagship Tweed Main Street
online store. "Finding the right opportunity to expand our footprint to Western Canada has been
an important priority for our team," said Bruce Linton, Chairman & CEO, Canopy Growth. "We are
proud to bring the Tweed reputation for high quality cannabis and engaging customer care to Western
Canada, partnering with some of the early pioneers in Canada's legal medical cannabis
system."
Aurora Cannabis Inc. (OTCQX: ACBFF) has completed the acquisition of Peloton Pharmaceuticals Inc. ("Peloton"),
a Montreal-area late-stage ACMPR-applicant. Peloton is completing construction of a state-of-the-art 40,000 square foot
cannabis production facility in the City of Pointe-Claire, Québec, which received a "ready
to build" letter from Health Canada in 2014. At full capacity, the facility is expected to be capable of producing up to 3,900 kg
of high quality cannabis per year. Aurora management believes the Peloton facility is approximately 80% complete, and can be
ready for Health Canada's pre-licensing inspection by the second half of 2017.
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