NEW YORK, August 27, 2018 /PRNewswire/ --
Data published by Arcview Market Research, in partnership with BDS Analytics, indicates that the worldwide consumer spending
on legal cannabis is projected to reach USD 57 Billion by 2027, with adult-use cannabis making up
the majority of spending, totaling USD 38.3 Billion, while medical spending will reach USD 19.1 Billion. The report explains that while the adult-use market is expected to dominate in North America, the medical market will have advantages overseas due to government-subsidized health systems
covering the cost for patients. Europe for example, which has a population of about 739 Million
people and more than USD 1.5 Trillion in health care spending, has the potential to be the largest
medical cannabis market in the world. Tidal Royalty Corp. (OTC: TDRYF), CannaRoyalty Corp. (OTC: CNNRF), VIVO Cannabis Inc. (OTC:
VVCIF), Auxly Cannabis Group Inc. (OTC: CBWTF), GW Pharmaceuticals plc (NASDAQ: GWPH)
Focusing on the United States, the legal cannabis market is projected to reach USD 11 Billion in consumer spending in 2018. Arcview Market Research and BDS Analytics report that
according to SOLMM6, despite federal prohibition the U.S. legal cannabis industry experienced 31% growth in 2017 and has reached
USD 8.5 Billion in spending. Arcview forecasts that the continuing state-by-state roll-out of
medical-use programs and then adult-use legalization, will bring nationwide spending in the U.S. to USD
23.4 billion in 2022, growing at a 22% compound annual growth rate over that five-year forecast period. "The end of
marijuana prohibition is in sight and what that means for this market cannot be overstated," said Troy
Dayton, CEO of the Arcview Group. "There are billions of dollars in institutional capital chomping at the bit to take
advantage of this shift, but so far haven't found a major way in. This leaves a limited window for businesses to get a foothold
and build value for liquidity events that might come sooner than any of us thought possible just a few months ago."
Tidal Royalty Corp. (OTC: TDRYF) is also listed on the Canadian Securities Exchange under the ticker (CSE:
RLTY.U). Just earlier today the company announced breaking cannabis news that, "it has entered into a binding letter of
intent ("Agreement") to acquire certain assets that are strategic to Tidal Royalty from CannaRoyalty Corp. (CSE: CRZ) (OTC:
CNNRF) ("CannaRoyalty"), a leading North American cannabis products and brands company.
Pursuant to the Agreement, Tidal Royalty will acquire a royalty entitlement and equity interest in Alternative Medical
Enterprises, LLC, doing business as AltMed, ("AltMed") a leading multi-state, vertically-integrated operator. The aggregate
consideration for the acquisition is C$8 million, in a combination of cash and Tidal Royalty's
stock.
AltMed is led by former senior pharmaceutical executives and has captured market share by implementing pharma industry
standards to the development, production and dispensing of medical cannabis. AltMed has vertically-integrated operations in both
Florida and Arizona, pursuant to such states' regulated
cannabis programs, and currently has applications for licenses pending in Ohio. In addition to
distributing its own award-winning product line (MüV™) of topicals, gels, concentrates and transdermal patches, AltMed has
distribution partnerships with leading cannabis brands - including with Wana Brands, a leading
producer of cannabis-infused products.
Pursuant to the Agreement, Tidal Royalty will acquire a royalty on U.S. and international sales of the MüV™ product line.
Tidal Royalty will also acquire an equity interest in AltMed.
"We've been following AltMed for quite some time now and have watched them expand their footprint very strategically and
methodically. They are led by an extremely entrepreneurial and capable management team and we feel that they are positioned to be
a leading player in the U.S. industry. We are excited to be in this position and look forward to finding additional ways that we
can support their growth plans," said Paul Rosen, CEO & Chairman of Tidal Royalty. "This
transaction was really made possible by our strong synergistic relationship with CannaRoyalty, a company whom we have a great
deal of respect and admiration for. We are confident that our companies will identify additional mutually-strategic opportunities
in the emerging U.S. regulated cannabis industry."
"This Agreement advances our stated strategy of realizing value for shareholders on non-core assets. The gains from our
successful investment in AltMed will provide CannaRoyalty with capital to continue to expand its distribution and brand network
in the California market. We are confident that AltMed will be a valuable addition to Tidal
Royalty's portfolio, and as CannaRoyalty continues to grow and build a solid presence in California, we look forward to opportunities to partner with the experienced team at Tidal Royalty," said
Marc Lustig, Chairman and CEO of CannaRoyalty.
Closing of the transaction is subject to, among other things, the satisfactory completion of due diligence, which is currently
underway, and the receipt of all corporate and regulatory approvals. With the execution of this Agreement, Tidal Royalty has now
entered into letters of intent with cannabis operators in Florida, Arizona, California, Nevada, Massachusetts and Illinois. In addition, Tidal Royalty is in the process of
evaluating multiple additional opportunities across the U.S., including in New York,
Ohio, Pennsylvania, Texas and
Michigan. Tidal Royalty intends to provide further information on those discussions when the
respective parties reach an agreement and execute letters of intent.
About Tidal Royalty - Tidal Royalty provides royalty financing to the U.S. regulated cannabis industry. Led by an executive
team with extensive industry experience in Canada and the U.S., Tidal Royalty provides operators
with the funding they need to grow their business. Operators benefit from non-dilutive capital and investors get top-line access
to a diversified portfolio of companies that will form the future of this transformative industry.
CannaRoyalty Corp. (OTCQX: CNNRF) is a North American cannabis consumer product company currently focused on building a
leading distribution business in California, the world's largest regulated cannabis market.
Recently, the Company announced its financial results for the three and six-month periods ended June
30th, 2018. Revenue for Q2 2018 was USD 3.5 Million compared to USD 643,437 in Q1 2018. On August 9th, 2018, CannaRoyalty announced
the close of Aurora's acquisition of Anandia Inc. for initial consideration valued at approximately USD
115 Million in common shares and warrants of Aurora. CannaRoyalty's equity stake in Anandia was reported at approximately
USD 26.4 Million as of June 30th, 2018. On August 14th, 2018, the Company's previously announced (July 11th) sale
of its Canadian pre-roll technology license to Aurora for aggregate consideration of USD 7 Million
in Aurora common shares, had closed.
VIVO Cannabis Inc. (OTCQB: VVCIF) holds production and sales licenses from Health Canada and its world-class indoor
cultivation facility in Napanee, Ontario contains proprietary plant-growing technology. VIVO is
expanding its production capacity and pursuing partnership and product development opportunities domestically, as well as in
select international markets, including Germany, Australia and
Israel. Recently, the Company announced that it has completed an agreement with the Ontario
Cannabis Store ("OCS") to supply the province with high-quality cannabis products. Under the terms of the agreement, VIVO will
supply the Ontario market with 16 cannabis products to meet demand in the adult-use recreational
cannabis market, set to open on October 17th, 2018.
Auxly Cannabis Group Inc. (OTCQX: CBWTF) is a collective of entrepreneurs with a passion for the cannabis industry
past, present and future. Recently, the Company announced that it has entered into a share purchase agreement with KGK Science
Inc. to acquire all of the issued and outstanding shares of KGK for total consideration of USD
12,300,000 payable in cash and common shares of the Company. KGK Science is the leading contract research organization
offering clinical trial services and regulatory consulting for the cannabis, dietary supplement, functional food, beverage,
ingredient and cosmetic industry. The Company expects to leverage KGK's expertise and research abilities to further the Company's
product development efforts through collaboration with the Company's wholly owned subsidiary, Dosecann Inc. For nearly two
decades, KGK has served many of North America's leading nutraceutical, natural health product
and consumer packaged goods companies such as Kraft Foods, Sanofi, Nature's Bounty, and NuSkin.
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. Earlier
this year, the Company announced that the U.S. Food and Drug Administration (FDA) has approved EPIDIOLEX® (cannabidiol) oral
solution for the treatment of seizures associated with Lennox-Gastaut syndrome (LGS) or Dravet syndrome in patients two years of
age or older. EPIDIOLEX is the first prescription pharmaceutical formulation of highly-purified, plant-derived cannabidiol (CBD),
a cannabinoid lacking the high associated with marijuana, and the first in a new category of anti-epileptic drugs (AEDs). Product
availability is pending rescheduling which is expected to occur within 90 days. EPIDIOLEX, the first prescription, plant-derived
cannabinoid medicine in the United Statesand the first in a new class of anti-epileptic medications, is a pharmaceutical
formulation of pure cannabidiol (CBD) now FDA-approved for the treatment of seizures associated with Lennox-Gastaut syndrome
(LGS) or Dravet syndrome in patients two years of age or older, pending DEA rescheduling.
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