NEW YORK, February 1, 2018 /PRNewswire/ --
According to data provided by Ameri Research Inc., the global legal cannabis market is forecast to be valued at $63.5
billion by 2024, and growing at a CAGR of 21.1% between 2017 to 2024. Currently, the market is going through a period of
robust growth thanks to increasing legalization and decriminalization of cannabis products across North America
and Europe. In the U.S, there are 28 states which have approved the use of cannabis for medical purposes. In major markets
like Colorado, California, Alaska, Massachusetts and Nevada, cannabis is
legal for recreational use. iAnthus Capital Holdings Inc (OTC: ITHUF), GW Pharmaceuticals plc (NASDAQ: GWPH), Zynerba
Pharmaceuticals, Inc. (NASDAQ: ZYNE), Aurora Cannabis Inc. (OTC: ACBFF), Vitality Biopharma, Inc. (OTC: VBIO)
Starting January 1 st , California the nation's most
populous state, has started legal sales of recreational cannabis. While sales are ramping up, there are concerns that supply will
fall short of Demand. According to a report by the Chicago Tribune, Charles Boldwyn, chief
compliance officer of ShowGrow in Santa Ana, explained, "We're looking at ... hundreds of
licensed cultivators and manufacturers coming out of an environment where we literally had thousands of people who were
cultivating and manufacturing… So the red tape is a bit of a bottleneck in the supply chain." Despite the concerns, the market in
California is expected to witness strong growth. Data published by New Frontier Data projects
that legal cannabis sales in California will reach $2.8 billion in
2017 and $6.6 billion by 2025.
iAnthus Capital Holdings Inc (OTCQB: ITHUF) also listed on the Canadian Securities Exchange under the trading symbol
"IAN". On January 17th the company announced 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, Floridaand 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."
GW Pharmaceuticals plc (NASDAQ: GWPH) is a biopharmaceutical company focused on discovering, developing and
commercializing novel therapeutics from its proprietary cannabinoid product platform in a broad range of disease areas. Recently,
the company announced that The Lancet has published results from a Phase 3 study of Epidiolex® (cannabidiol) in patients with
Lennox-Gastaut syndrome (LGS). Epidiolex, GW's lead product candidate and the potential first in a new category of anti-epileptic
drugs (AEDs), is a pharmaceutical formulation of purified cannabidiol (CBD), a cannabinoid lacking euphoric side effects, which
is being studied for the treatment of a number of rare, severe pediatric-onset epilepsy disorders. In this study, Epidiolex
significantly reduced monthly drop seizure frequency compared to placebo in highly treatment-resistant patients when added to
existing treatment. Treatment with Epidiolex was generally well tolerated, with a safety profile consistent with prior reported
experience.
Zynerba Pharmaceuticals, Inc. (NASDAQ: ZYNE) is a clinical-stage specialty pharmaceutical company dedicated to
developing and commercializing innovative pharmaceutically-produced transdermal cannabinoid treatments. On January 3, 2018, the company announced that it will concentrate its focus on rare (meeting the US FDA
designation of an orphan disease, affecting fewer than 200,000 people in the U.S.) and near-rare (affecting fewer than one
million people in the U.S.) neurological and psychiatric disorders with high unmet medical needs. In 2018, the Company intends to
develop ZYN002 in a pivotal Phase 2/3 program in Fragile X syndrome (FXS) and in Phase 2 programs in refractory epilepsies,
including adult refractory focal epilepsy and developmental and epileptic encephalopathies (DEE) in pediatric and adolescent
patients. Additionally, the Company plans to initiate Phase 2 development of ZYN001 in Tourette Syndrome by year end 2018.
Zynerba is currently developing ZYN002, the first and only patent-protected, pharmaceutically-produced CBD that is formulated as
a permeation-enhanced gel for transdermal delivery.
Aurora Cannabis Inc. (OTCQX: ACBFF) wholly-owned subsidiary, Aurora Cannabis Enterprises Inc., is a licensed producer
of medical cannabis pursuant to Health Canada's Access to Cannabis for Medical Purposes Regulations. Recently, the company
announced that the Company has received a cultivation license from Health Canada for Aurora Sky, the Company's 800,000+ square
foot hybrid greenhouse facility, under construction at the Edmonton International Airport.
Aurora Sky will be the world's most technologically advanced and largest capacity purpose-built cannabis facility, focused on the
mass-cultivation of ultra-low cost, high-quality cannabis. Aurora Sky, the Company's third licensed facility, will be capable of
producing in excess of 100,000 kg of cannabis per year. The world's only cannabis facility located on the property of an
international airport, Aurora Sky possesses numerous strategic advantages, including ample low-cost power, water and gas,
excellent security, unrivaled access to transportation, logistical services, immediate access to international customs, as well
as air and ground domestic and international courier services.
Vitality Biopharma, Inc. (OTCQB: VBIO) is dedicated to unlocking the power of cannabinoids for the treatment of serious
neurological and inflammatory disorders. On January 17, 2018, the company announced it has
submitted an orphan drug designation request for VITA-100 to the U.S. Food & Drug Administration (FDA). Upon approval,
VITA-100 would be designated as an orphan drug for the treatment of pediatric ulcerative colitis (UC), a form of pediatric
inflammatory bowel disease. Vitality Biopharma's gut-targeted cannabosides enable delivery of THC without psychoactivity or
intoxication, which may enable more widespread use of cannabinoids for treatment of pediatric digestive disorders. The
Company has already completed studies that demonstrate the efficacy of cannabosides for treatment of preclinical models of
colitis. Cannabosides were able to reduce weight loss, decrease damage to the colon, and markedly improve gastrointestinal
health compared to the placebo controls.
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