NEW YORK, July 2, 2018 /PRNewswire/ --
According to research published by Oristep Consulting, the global medical cannabis market was valued at USD 12.67 Billion in 2016 and will reach USD 33.41 Billion by 2022, while growing
at a CAGR of 17.53% during the forecast period. The two main cannabinoids from the cannabis plant are THC and CBD, both of which
are used as treatments for various conditions such as lack of appetite, nausea, pain, inflammation (swelling and redness), as
well as muscle control problems. The report also specifies that North America leads the market,
holding about half of the market share in 2016. As for recreational cannabis products, the continued spread of legalization
across North America is pushing the market projections to new highs. On June 19 th, Canada legalized cannabis across the nation.
Additionally, earlier this year, California began legal sales of cannabis products for
recreational use and since then, further political changes have been planned. CLS Holdings USA,
Inc. (OTC: CLSH), Lexaria Bioscience Corp. (OTC: LXRP), Namaste Technologies Inc. (OTC: NXTTF), CV Sciences Inc. (OTC: CVSI),
Leafbuyer Technologies Inc. (OTC: LBUY)
Meanwhile, States enjoy the benefits from the new growing market. Fortune reported that, "in order to collect USD 1 Billion a year in taxes, the state will need to reach a projected USD 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 USD 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."
CLS Holdings USA, Inc. (OTCQB: CLSH) last week announced breaking news that, "the
successful closing of its acquisition of Oasis Cannabis. CLS is now active in the legalized cannabis market in Las Vegas, NV, generating USD $850,000 in gross monthly revenue.
Oasis Cannabis is a fully integrated cannabis operation in Las Vegas, Nevada. Since 2017,
Oasis has been involved in growing, extraction, conversion, processing and operating a dispensary. Its grow, extraction,
conversion and processing facility had its best month ever last month in generating USD 200,000 in
gross revenues. Due to increased demand and the additional capital that was just raised, CLS plans to triple the grow production
capacity over the remainder of 2018. On the retail dispensary side, Oasis has steadily witnessed increased traffic over the past
few months, is now up to 400 daily visitors, and is currently generating USD 650,000 of gross
monthly revenue.
Oasis's City Trees wholesale product line recently more than doubled its number of product SKUs offered to retail dispensary
customers and now covers a variety of concentrates, vape pens, and capsules, and tinctures including high CBD versions. The City
Trees product line is now being sold in over 20 dispensaries in the Las Vegas and Reno markets."
CLS Chief Executive, Jeff Binder, commented, "We are thrilled to have successfully completed
the acquisition of Oasis Cannabis. We are thankful to our existing long-term shareholders for their patience and our new
investors who share our enthusiasm and excitement for the Nevada market with Oasis and
additional expansion opportunities as they evolve. We look forward to building out a significant and diversified cannabis
operation with multiple locations. We believe this is just the beginning for CLS and anticipate great things to come."
Ben Sillitoe, Co-Founder of Oasis Cannabis, commented, "This is an exciting time for the entire
Oasis team. The closing of this transaction is a major milestone for our strategic growth plans. As we add new locations and
expand our product manufacturing and cultivation facilities there will be more jobs created and additional opportunities for our
existing team to advance in their careers. I'm personally honored by all of this. This is such a unique time in our country's
history and I'm very proud to be a part of the movement to end cannabis prohibition. Now that our entire Nevada operation is a wholly owned subsidiary of a publicly-traded company there is more opportunity for
people to be a part of it."
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. In April, 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 DehydraTECH™ 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 has been touted by media, industry watchers and consumers as one of the most innovative brands in the cannabis space.
Namaste Technologies Inc. (OTCQB: NXTTF) is a global leader in the sale of medical cannabis consumption devices.
Namaste has nine offices with multiple distribution centers around the globe and operates over 30 websites under various brands.
Recently, the Company announced the signing of a Master Services Agreement with YPB Group Ltd., an Australian based product
verification and customer engagement company. Namaste has identified the need for its global customers to have confidence in the
products they are purchasing, and for vendors to have access to granular data on their end-users. As such, Namaste plans to
introduce YPB's solutions across its network of manufacturers and to Canadian Licensed Producers to bring certainty of
authenticity and supply chain transparency to the entire legal cannabis industry globally. This coalition furthers Namaste's
agenda in providing leading technology platforms for its global marketplace and in enhancing the user's experience for its
customers.
CV Sciences Inc. (OTCQB: CVSI) operates two distinct business segments: a drug development division focused on
developing and commercializing novel therapeutics utilizing synthetic CBD; and, a consumer product division focused on
manufacturing, marketing and selling plant-based CBD products to a range of market sectors. Last month, the Company announced the
June 7th, 2018 publication of the toxicology and safety results of an extract from the base raw
materials used in its market-leading PlusCBD Oil™ consumer products. The Company contracted respected scientific and regulatory
consulting firm, AIBMR Life Sciences, Inc., to conduct the battery of toxicological studies to investigate the safety of oral
consumption of the Company's hemp cannabidiol (CBD) oil and to support a Generally Recognized as Safe (GRAS) Independent
Conclusion.
Leafbuyer Technologies Inc. (OTCQB: LBUY) is one of the most comprehensive online sources for cannabis deals and
information. Recently, the Company announced that it has reported annual website traffic growth to Leafbuyer.com of 375%.
Leafbuyer's new session numbers also grew nearly 30% from March 2018. The growth comes after the
Company rolled out its new product directory and added major search functionality to its industry-leading cannabis deals
database. Mark Breen, COO at Leafbuyer, attributes the momentum to expanded product offerings and
the increased brand recognition in new markets. "We are seeing an increase in consumers using the site as we add more
functionality and features."
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