NEW YORK, May 9, 2018 /PRNewswire/ --
According to report published by Hexa Research, the U.S. medical cannabis market size was valued at USD $5.44 Billion in 2016 and is expected to hit USD $19.48 billion by 2024. The
industry is projected to witness rapid progress during the forecast period due to the several medical benefits of cannabis
products and the quickening pace of legalization in the United States. The report also detailed
that the growing demand for medical cannabis is in part explained by the increasing ageing population. In 2016, rising number of
patients diagnosed with chronic pain has resulted in growing use of cannabis. The report estimated that the demand for medical
cannabis for arthritis will grow at a CAGR of 17.8% over the projected period as it forecasted more adults and children will have
arthritis. Cannabis infused edibles are also anticipated to grow at a CAGR of 17.8% over the forecast period. Snipp Interactive
Inc. (OTC: SNIPF), iAnthus Capital Holdings Inc. (OTC: ITHUF), Lexaria Bioscience Corp. (OTC: LXRP), United Cannabis
Corporation (OTC: CNAB), MPX Bioceutical Corporation (OTC: MPXEF)
In the U.S., the potential financial benefits from legalization are important economically and politically. Fortune reported
that, "in order to collect $1 billion a year in taxes, the state will need to reach a projected
$7 billion in annual legal recreational cannabis sales. At that rate, California would easily be the country's largest legal marijuana market, as the entire legal cannabis
industry in the U.S. is expected to pull in roughly $10 billion in total sales for 2017. That
number would almost certainly get a boost in the coming years, as legal markets grow in California and other states, such as Nevada and Massachusetts."
Snipp Interactive Inc. (OTCQB: SNIPF) is also listed on the TSX Venture Exchange under the ticker (TSX-V:
SPN). Just earlier the company announced breaking news that it, "has incorporated a 100% owned subsidiary in the United States to facilitate it to do business with Cannabis companies based in the United States. The reason the Company chose to incorporate this subsidiary is twofold. The first is to
enable the Company to be able to leverage its software platforms to service Cannabis businesses with creative business models
that could include equity based and performance compensation partnerships and secondly to isolate its core business given that at
the U.S Federal Level Cannabis is still a Schedule 1 controlled substance.
"Since the launch of the Cannabis Marketing Resource Center we have received a lot of interest and had many discussions with
multiple players in the US and Canadian market. Some of these discussions have led to recommendations that have included working
in a more partnership type structure that could involve an equity component as part of the payment mix for the use of our
platform and services by these potential clients. As a Company we are open to working with companies to design programs that
enable our shareholders to enjoy the upside of this nascent but fast growing industry and creating a separate legal entity to
enable that therefore makes a lot of sense", said Atul Sabharwal, Founder & CEO of Snipp." The
Cannabis space is rapidly evolving and we have seen a few US based companies dual listing on the Canadian exchanges. A great
example is a company like iAnthus, A CMRC member, who pioneered listing in both markets. They have set the stage for a whole new
crop of companies based in the US to list in Canada many of whom have not only joined our
Cannabis Marketing Resource Center but some of whom are also in deep discussions with us on signing a Managed Service Agreement
which allows Snipp to become an approved vendor of theirs locking in these clients for the future as their marketing needs
evolve. We look forward to sharing some of progress we are making in converting our CMRC members to paying clients over the next
few quarters" Visit the Snipp website at http://www.snipp.com/ for Snipp's
full suite of solutions and examples of Snipp programs."
iAnthus Capital Holdings Inc. (OTCQB: ITHUF) on April 17 th, 2018 the company
announced that, "the completion of its acquisition of the remaining 20% of Pilgrim Rock Management, LLC ("Pilgrim Rock"), the
affiliated management and services company that provides intellectual property licensing, professional and management services,
real estate and equipment leasing, and certain other services to Mayflower Medicinals, Inc. ("Mayflower"). Mayflower, a
non-profit Massachusetts corporation affiliated with Pilgrim Rock, has received two provisional
licenses to operate Registered Marijuana Dispensaries ("RMDs") in Massachusetts, with a third
RMD application pending before the Massachusetts Department of Public Health ("DPH"). Following the acquisition, iAnthus now owns
100% of Pilgrim Rock."
Lexaria Bioscience Corp. (OTCQX: LXRP) has developed and out-licenses its disruptive delivery technology that promotes
healthier ingestion methods, lower overall dosing and higher effectiveness of lipophilic active molecules. Last month, the
company announced a major new licensing agreement with Nuka Enterprises LLC, maker of 1906 brand cannabis chocolates and other
edible products. The deal renews Nuka's DehydraTECHTM license rights for use in its 1906 brand of cannabis chocolates, recognized
for their fast onset times, efficacy, amazing taste and unique formulations. Nuka has been utilizing Lexaria's technology within
its award-winning 1906 brand chocolates for nearly two years, during which time 1906 entered the cannabis market; advanced from a
start-up to Colorado's number-three cannabis chocolate brand available in over 150 locations;
and touted by media, industry watchers and consumers as one of the most innovative brands in the cannabis space.
United Cannabis Corporation (OTCQB: CNAB) is a biotechnology company dedicated to the development of phyto-therapeutic
based products supported by patented technologies for the pharmaceutical, medical, and industrial markets. In March, the company
announced that Jamaica's University of the West Indies' Ethics
Committee has reviewed and approved its proposal to conduct clinical trials on its Prana Bio Nutrient Medicinals P1 Capsules for
the treatment of chronic pain. The study, titled, "An Open-Label, Phase 1, 2-Way crossover study evaluating the pharmacokinetics
of Prana P1 THC activated capsules," will be conducted in conjunction with Cannabinoid Research & Development ("CRD"), the
Company's Jamaican subsidiary, at the Centre For Cannabis Research at the University Of West Indies, Mona
Campus, in Jamaica. Cannabinoid Research & Development (CRD), a subsidiary of United
Cannabis, is a Jamaican based corporation pursuing local licensing to advance the use of medical cannabis therapies through
biomedical research and development for the nutraceutical industry.
MPX Bioceutical Corp . (OTCQB: MPXEF) is a multinational diversified cannabis company focused on the medical and
adult use cannabis markets. MPX continues to expand its U.S. footprint, and is providing operational and other management
services to three dispensaries and one production license in Maryland. The Company also leases a
property in Owen Sound, Ontario, for which an application to Health Canada has been made for a
cannabis production and sales license. In addition, the Company will continue its efforts to develop its legacy nutraceuticals
business. On April 3, 2018, the company reported that its managed Arizona assets have recorded their best revenue month in March with sales of cannabis and cannabis
concentrates hitting the US$4.0 (CDN$5.2) million mark for the first
time.
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