NEW YORK, March 1, 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. The market is projected to reach a value
of $63.5 billion by 2024. The legal cannabis market is in a period of vigorous growth, which is a
direct result of increasing legalization and decriminalization of cannabis products across North
America. The report specifies that the legalization trend is moving beyond the U.S. In 2017, the Canadian prime minister
has introduced a bill to legalize cannabis for recreational purposes. The proposed bill mandates the legal age for consumption of
cannabis at 18 years, and provides clarity on the federal and state laws in regulating the cultivation, storage and distribution
of cannabis across the country. WeedMD Inc (OTC: WDDMF), Aphria Inc. (OTC: APHQF), Canopy Growth Corporation (OTC: TWMJF), GW
Pharmaceuticals plc (NASDAQ: GWPH), Cara Therapeutics Inc (NASDAQ: CARA)
According to CBC, Canada is one of only two countries, together with the Netherlands - that currently exports cannabis, allowing firms in Canada
to take instant benefit of recent medical cannabis legalizations in more than 20 countries. CBC reported that the, "offerings in
today's Canada medical marijuana market differ little from those used recreationally - the
smokable plant and, more recently, oil extracts. More than 70 companies have licenses from the federal drug regulator, Health
Canada, to cultivate, produce and sell medical marijuana, with more than half those licenses granted in 2017 or 2018."
WeedMD Inc (OTC: WDDMF) is also listed on the TSX Venture Exchange under the ticker symbol 'WMD'. Today the company
announced breaking news that it, "has submitted an application to obtain a Health Canada Dealer's License ("Dealer's License")
under the Controlled Drugs and Substances Act ("CDSA") and its associated regulations. The Dealer's License will enable WeedMD to
conduct research and development ("R&D") and store cannabis derivatives that are not currently covered under the Access to
Cannabis for Medical Purposes Regulations ("ACMPR"). The Dealer's License also positions the Company to export cannabis oils and
concentrates to international markets, as well as to process natural health products.
"As we ramp up our cannabis production to a rate of more than 20,000 kg annually, the Company will be supporting its
commercial initiatives with R&D to expand its product offerings for domestic and international markets. With our new
state-of-the-art laboratory at the Aylmer facility, we will be able to conduct research to bring
novel formulations and dosing methods to market with a Dealer's License," said Dr. Luc Duchesne,
Chief Scientific Officer of WeedMD. "Additionally, we will be able to test cannabis products in-house which will increase
efficiencies and enable us to collect valuable data about strains and their desired effects."
This is another R&D initiative that WeedMD is undertaking, having recently announced its partnership with the
world-renowned Technion-Israel Institute of Technology here. Under the WeedMD-Technion partnership, WeedMD will submit 25 of its
strains for inclusion in the Cannabis Data Project, which maps strains and their efficacy in treating certain medical conditions.
As there are only a limited number of Dealer's Licenses amongst the 90 Licensed Producers in Canada, securing this license is a critical step in advancing WeedMD's medical and recreational growth
strategies. The Company will work both independently and with research institutions to accelerate innovation for cannabinoid
applications and delivery systems and further its position in the global cannabis market."
About WeedMD Inc. - WeedMD Inc. is the publicly-traded parent company of WeedMD Rx Inc., a federally-licensed producer
and distributor of medical cannabis under the Access to Cannabis for Medical Purposes Regulations (ACMPR). The Company operates a
26,000 sq. ft. indoor facility in Aylmer, Ontario, and is awaiting its second-site cultivation
license for its greenhouse facility located in Strathroy, Ontario, representing 610,000 sq. ft.
or 14 acres under glass. WeedMD has entered into supply agreements in addition to strategic relationships with established
cannabis brands. The Company is focused on providing medical cannabis to the long-term care, assisted living and seniors' markets
in Canada through its specialized and comprehensive platform. It is dedicated to educating
healthcare practitioners and furthering public understanding of the role that medical cannabis plays - including as it pertains
to regulatory requirements, indications and potential side effects
Aphria Inc. (OTCQB: APHQF), one of Canada's lowest cost producers, produces, supplies
and sells medical cannabis. Located in Leamington, Ontario, the greenhouse capital of
Canada. Aphria is truly powered by sunlight, allowing for the most natural growing conditions
available. On February 14, 2018, the company announced that it has signed a Letter of Intent
with the Société des alcools du Québec to guarantee a supply of high-quality, safe and clean cannabis products for sale in the
Quebec adult-use market through their retail outlets and e-commerce platform. Under the terms of
the agreement, the Company will supply the Quebec market with up to 12,000 kg of branded
cannabis products in the first year of the agreement, including cannabis oils and other derivative products and several strains
of high-quality Ontario- and B.C.-grown dried cannabis flower.
Canopy Growth Corporation (OTC: TWMJF) is a world-leading diversified cannabis and hemp company, offering distinct
brands and curated cannabis varieties in dried, oil and Softgel capsule forms. Recently, the company announced the signing of a
definitive supply agreement with Sunniva Inc. Through the terms of this two-year agreement, Canopy Growth will purchase up to
90,000 kilograms of dried cannabis from Sunniva's wholly-owned Canadian subsidiary, Sunniva Medical Inc., a late-stage Access to
Cannabis for Medical Purposes Regulations ("ACMPR") applicant, and sister company of Natural Health Services, the sector's
largest non-Licensed Producer medical patient network with tens of thousands of active registrations in the ACMPR. The agreement
will see Sunniva grow Canopy's existing line-up of award winning genetics as well as its own branded products, both for sale
through Canopy Growth's extensive distribution network, including Tweedmainstreet.com, the planned Tweed retail store network
across the country, and through provinces in which Canopy has already established historic supply agreements. The deal secures a
diverse supply of curated cannabis products for Canopy Growth and a reliable sales channel and stream of revenue for Sunniva,
with appropriate risk sharing formulas in place for both parties.
GW Pharmaceuticals plc (NASDAQ: GWPH), a biopharmaceutical company focused on discovering, developing and
commercialising novel therapeutics from its proprietary cannabinoid product platform, announced on February 5th, that the European Medicines Agency (EMA) has accepted for review the Marketing Authorization
Application (MAA) for Epidiolex® (cannabidiol) for adjunctive treatment of seizures associated with Lennox-Gastaut syndrome (LGS)
and Dravet syndrome. Justin Gover, GW's Chief Executive Officer stated, "We also continue to see a significant flow of
clinical data from the Epidiolex program through both medical meetings such as the American Epilepsy Society and in publication
including our recent Lennox-Gastaut syndrome results in The Lancet.
Cara Therapeutics Inc (NASDAQ: CARA) is a clinical-stage biopharmaceutical company focused on developing and
commercializing new chemical entities designed to alleviate pain and pruritus by selectively targeting peripheral kappa opioid
receptors (KORs). Cara is developing lead molecules that selectively modulate peripheral CB receptors without targeting CNS
cannabinoid receptors. Cara's most advanced CB 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." Cara Therapeutics
CMO Joseph Stauffer said.
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