NEW YORK, January 23, 2018 /PRNewswire/ --
According to a report by New Frontier Data, the legal cannabis market was worth $6.6 billion in 2016 and is forecast
to grow to $24.1 billion by 2025, registering a compound annual growth rate of 16 percent. By segment, the medical
cannabis market was worth $4.7 billion in 2016 and is expected to grow to $13.3 billion by 2025. Recreational
cannabis sales throughout the same period are expected to grow at a 21 percent CAGR, from $1.9 billion to $10.9
billion. The continuous validation of cannabis products for both medical and recreational use is a key factor contributing to the
progress made in this industry. On November 8th, 2016, California has passed California Proposition 64 by a vote
of 57.13% for and 42.87% against, allowing individuals in California to use and grow cannabis for personal
use. iAnthus Capital Holdings Inc (OTC: ITHUF), Terra Tech Corp. (OTC: TRTC), Liberty Health Sciences Inc. (OTC: LHSIF),
Aphria Inc. (OTC: APHQF), MPX Bioceutical Corporation (OTC: MPXEF)
California's new recreational cannabis laws were officially implemented on January 1st,
2018. New Frontier Data CEO, Giadha Aguirre De Carcer, commented on California's potential market growth,
"California offers the perfect example of why it is so important to understand trends in consumer behavior. The state's
legal (cannabis) industry is forecast to grow from $2.8 billion in 2017 to $5.6 billion in 2020. That
spending will be increasingly directed at products and retailers who understand and serve the market's evolving tastes and
preferences. The market is changing, and the most successful operators will be those who adapt most quickly to the change."
iAnthus Capital Holdings Inc (OTCQB: ITHUF) also listed on the Canadian Securities Exchange under the trading symbol
"IAN". Last week the company announced breaking news, "that it has acquired through merger and acquisition transactions
substantially all of the assets of GrowHealthy Holdings, LLC ("GrowHealthy") and certain related subsidiaries (all transactions
together, the "Acquisition", and all assets of GrowHealthy and its subsidiaries collectively, the "Business"). The Acquisition
completes iAnthus' full-scale entry into the rapidly expanding Florida medical cannabis market,
which is projected by Arcview Market Research to grow into a US$1 billion market by 2020 and which
has seen a 300% increase in the number of registered patients over the past six (6) months. iAnthus previously acquired
approximately six percent (6%) of GrowHealthy in a preferred share purchase in October, 2017.
GrowHealthy and its affiliate, McCrory's Sunny Hill Nursery, LLC ("McCrory's") comprise one of just thirteen (13) current
Florida Medical Marijuana Treatment Centers ("MMTCs") licensed to provide medical cannabis under Florida's medical marijuana law. The Acquisition includes GHIAA Management, Inc., a wholly-owned subsidiary
of GrowHealthy that holds an exclusive 40-year management contract to operate the medical cannabis business associated with the
MMTC license issued to McCrory's (the "License"), together with an option to acquire 100% of McCrory's for a nominal
consideration, pending approval of the Florida Department of Health…
"As one of the largest states in the U.S. with a population of nearly 21 million people and favorable demographics,
Florida and its medical cannabis market provide a tremendous opportunity for iAnthus and its
shareholders. The state's population includes a large percentage of older adults who can derive significant benefits from medical
cannabis, and the Florida program has witnessed a rapid rise in its registered patient base
since passage of the law," said Randy Maslow, President of iAnthus.
"GrowHealthy in particular boasts a state-of-the-art 200,000 square foot cultivation and processing facility in Lake Wales, a flagship dispensary location in a densely populated area of Palm
Beach County, and the opportunity to open up to 25 dispensaries in Florida currently and
more in the future," Mr. Maslow continued. "The GrowHealthy cultivation and operations team has already established itself as a
leader in Florida's medical cannabis market, and we look forward to contributing iAnthus'
capital and operational resources to fully build out GrowHealthy's infrastructure and capitalize on the enormous opportunity
provided by Florida's medical cannabis market."
Pursuant to the Florida medical marijuana statute and regulations, GrowHealthy is permitted
to immediately begin delivery of finished products and to open and operate up to twenty-five (25) dispensaries, a number which
will be increased with every 100,000 patients that are added to the state medical marijuana registry. Construction on
GrowHealthy's flagship Palm Beach County dispensary is expected to be completed during Q2 2018
and the 4,500 square foot facility is expected to open in July 2018. Additional dispensary
locations in Palm Beach County and elsewhere around the state have been identified and are the
subject of lease negotiations, and dispensary openings in the Tampa and Orlando areas are planned for Q3 2018 and Q4 2018, respectively. GrowHealthy has already commenced sales
through product delivery, and will continue to expand its delivery capabilities throughout the year."
Terra Tech Corp. (OTCQX: TRTC) is a vertically integrated cannabis-focused agriculture company. On January 1, 2018, the company announced that it has received State of California Temporary Authorization to
distribute and retail cannabis, and expects to receive authorizations to cultivate and manufacture cannabis for California's adult-use and medical markets, effective January 1, 2018. Terra
Tech plans to commence adult-use cannabis sales to the California market immediately through its
Blüm retail dispensaries located in Oakland and Santa Ana.
Terra Tech first started selling medical cannabis products to patients in California through its
Blüm dispensary in Oakland. In anticipation of adult-use sales, the Company opened a second Blüm
retail location in Santa Ana, California in September, 2017 and is currently constructing a Blüm
dispensary in San Leandro, which is expected to open to the public in early 2018. The Company is
also expanding its cultivation facilities through its 'Craft Cultivation' model, and has signed two craft cultivators, based in
Honeydew and Salinas, to ramp production of the Company's brand
of premium cannabis.
Liberty Health Sciences Inc. (OTCQX: LHSIF) is an investor and operator in the medical cannabis market, capitalizing on
new and existing opportunities in U.S. states where medical cannabis is legal. Recently, the company announced that it has signed
a licensing agreement with Colorado-based MC Brands LLC d/b/a incredibles, a leading producer of
cannabis edibles, wellness products and extracts, to provide a complementary suite of medical cannabis products to patients in
Florida. Under the terms of the agreement, Liberty will be the exclusive producer and provider
of incredibles cannabis products in Florida, subject to receipt of all required approvals from
the Florida Department of Health, Office of Medical Marijuana Use. The incredibles, incredible Extracts and incredible Wellness
products will be available exclusively for sale through Liberty's Cannabis Education Centers. This exciting new product
line will complement Liberty's current lineup of brands to be offered to Florida patients,
including Aphria and Mary's Medicinals.
Aphria Inc. (OTCQB: APHQF), one of Canada's lowest cost producers, produces, supplies
and sells medical cannabis. On January 15, 2018, the company announced that it has signed a supply
agreement with Australian-based Althea Company Pty Ltd. and invested $2.5 million in Althea in
exchange for 25% shareholdings in the Company. The investment increases Aphria's presence in the emerging Australian cannabis
market. As part of the supply agreement, Aphria will provide Althea with packaged co-branded cannabis oil and dried flower
products for the Australian medical cannabis market, further expanding Aphria brand's footprint globally. Althea has already
received import permits from the Australian Government's Office of Drug Control (ODC) and Aphria is expected to export the first
shipment this month, subject to regulatory approvals by Health Canada.
MPX Bioceutical Corporation (OTCQB: MPXEF), through its wholly owned subsidiaries in the U.S., provides substantial
management, staffing, procurement, advisory, financial, real estate rental, logistics and administrative services to two
medicinal cannabis enterprises in Arizona operating under the Health for Life (dispensaries) and
the award-winning Melting Point Extracts (high-margin concentrates wholesale) brands. On January 15,
2018, the company announced that further to its press release dated August 22, 2017, it has
entered into a definitive agreement with Panaxia Pharmaceutical Industries Ltd. through its wholly-owned subsidiary Salus
BioPharma Corporation, a company engaged in the business of development and production of pharma grade cannabidiol medicinal
products, medicinal preparations and medicinal accessories (the "CBD Products"). Panaxia will provide the capital and equipment
to build out and equip the manufacturing facility and will supply the non-active ingredients and compounds for formulation and
packaging. The CBD Products will be produced at MPX-operated locations under licenses owned or managed by the Company or a
subsidiary thereof.
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