NEW YORK, September 6, 2018 /PRNewswire/ --
According to a report published by Forbes, Brightfield Group indicated that the global cannabis market value had crossed
the USD 7.5 Billion mark at the end of 2017 and is projected to breach USD 30 Billion by 2021. The
United States currently accounts for about 90% of the entire market but its dominance of the cannabis market is likely to
decline to about 57%, due to legalization of cannabis products in other countries. Canada is considered to be one of
the largest markets for cannabis products and the country has legalized cannabis on a national scale earlier in June.
Additionally, earlier this year, California's new laws on recreational cannabis products were officially
implemented. CLS Holdings USA Inc. (OTC: CLSH), GW Pharmaceuticals plc (NASDAQ: GWPH), Tilray Canada
Ltd. (NASDAQ: TLRY), Cannabis Strategic Ventures, Inc. (OTC: NUGS), India Globalization Capital, Inc. (NYSE: IGC)
As a result of the strong sales figures across the industry, investments in cannabis are increasing. A report by Business
Insider indicates that, "Venture-capital investors from around the world spent USD 355 Million on 100
marijuana-industry deals in 2017, and 2018 is on pace to break last year's record. By the end of February, there were 19
venture-backed deals in the industry worth USD 176 Million alone, and that doesn't factor in the money investors have
poured into hedge funds set up to take advantage of the budding industry."
CLS Holdings USA Inc. (OTCQB: CLSH) announced cannabis
news earlier last month that, "a diversified cannabis company operating as Cannabis Life Sciences and an integrated cannabis
producer and retailer in Nevada through its Oasis Cannabis companies, today announced the
issuance of the following statement to CLS partners, shareholders and other stakeholders from its Chairman and Chief Executive
Officer, Jeff Binder:
"I reach out to all members of the CLS family today with gratitude, pride and excitement. Gratitude and pride for the
dedication and support of our employees, partners and shareholders in our accomplishments to date, and great excitement for the
value I see for us in the path ahead. It's been an extremely busy and productive past few months for our CLS team and we believe
we are now in a great position to build long-term shareholder value.
Over the past 45 days, we have closed on two oversubscribed funding rounds. A Canadian round of CAN$13.0 million and a U.S.
round of $5.75 million. We are encouraged that our financial backers share the excitement and
vision we have for CLS. Navy Capital, one of our lead funds, has a vast network of relationships in the cannabis industry and is
extremely interested in the CLS patented extraction and processing technology. We look forward to the added value that Navy
Capital brings to CLS. It is a terrific corporate development to have an additional partner, of Navy Capital's stature, and we
are excited by the expertise they bring to CLS. We now have the funds in place to complete the build out of our Las Vegas cultivation and production facility. In addition, CLS will utilize a portion of the proceeds to
update its existing Oasis Cannabis dispensary location and improve its signage. We are pleased to welcome Frank Tarantino as our Chief Financial Officer, at a key time with our next phase in organic growth and
acquisitions. Mr. Tarantino brings big four public accounting and private and public company management and financial expertise,
which will be extremely beneficial in leading our growth.
With our successful closing of the Oasis Cannabis acquisition, CLS is now active in the legalized cannabis market in
Las Vegas, NV. Oasis Cannabis is a fully integrated cannabis operation generating $850,000 in gross monthly revenue. Since 2017, Oasis has been involved in growing, extraction, conversion,
processing and operating a dispensary. 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 and into 2019. 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. 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. While our entrance and success in Nevada is key for the company, we are not satisfied with resting on these milestones. We continue to explore
additional opportunities for expansion in different states.
Our recently awarded non-provisional U.S. utility patent for cannabidiol extraction and conversion process by the United
States Patent and Trademark Office is a very significant milestone. The patent is directed to a process for the extraction of
cannabidiols from any variety of cannabis plants. The extraction process includes a sizing unit wherein raw cannabis plant
material is reduced to a uniform size, and a blending unit wherein an extraction solvent is blended together with the cannabis
plant material to form an initial extract. The conversion process, wherein the processed extract is combined and processed with
an acidic component, involves a separator unit in which solvent is added and a separator organic effluent is obtained. We believe
our strong intellectual property differentiates us from many of the operators out there. We will seek to license our
proprietary extraction and conversion methodology to other operators to be able to monetize it and help build long-term
shareholder value.
I would personally like to thank all of our hardworking and dedicated CLS and Oasis Cannabis employees. I would also like to
thank our financial supporters and shareholders for their support and enthusiasm of our strategy and vision. We look forward to
sharing our continued progress as we look to expand to additional legalized states and exploit our patent-protected extraction
and conversion process."
About Oasis Cannabis (http://oasiscannabis.com ) - Oasis Cannabis has
operated a cannabis dispensary in the Las Vegas market since dispensaries first opened in
Nevada in 2015 and has been recognized as one of the top marijuana retailers in the state. Its
location within walking distance to the Las Vegas Strip and Downtown Las Vegas in combination
with its delivery service to residents allows it to efficiently serve both locals and tourists in the Las Vegas area. The company recently commenced wholesale offerings of cannabis in Nevada with the launch of its City Trees brand of cannabis concentrates and cannabis-infused products in
August 2017. An expansion of its cultivation and production facility is currently underway and is
expected to be completed during the second half of 2018.
About CLS Holdings USA, Inc. - CLS Holdings USA, Inc. (CLSH)
is a diversified cannabis company that, subject to receipt of certain anticipated license approvals, acts as an integrated
cannabis producer and retailer in Nevada and plans to expand to other states. CLS stands for
"Cannabis Life Sciences," in recognition of the Company's patented method of extracting various cannabinoids from the marijuana
plant and converting them into products with a higher level of quality and consistency. The Company's business model includes
licensing operations, processing operations, processing facilities, sale of products, brand creation and consulting services. For
additional information, please visit: http://www.clsholdingsinc.com
."
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. The
Company, along with its U.S. subsidiary Greenwich Biosciences, announced last month 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. LGS and Dravet syndrome, which develop in childhood, are rare, severe forms of epilepsy that are notoriously
treatment-resistant. Most patients with LGS and Dravet syndrome require multiple seizure medications and the majority are
resistant to currently approved AEDs. The day-to-day impact of these conditions is significant with high rates of early
mortality. "Today's approval of EPIDIOLEX is a historic milestone, offering patients and their families the first and only
FDA-approved CBD medicine to treat two severe, childhood-onset epilepsies," said Justin Gover,
GW's Chief Executive Officer.
Tilray Canada Ltd. (NASDAQ: TLRY) is a global pioneer in cannabis research,
cultivation, processing and distribution currently serving tens of thousands of patients in eleven
countries spanning five continents. Recently, the Company announced that it has been selected by the Nova Scotia Liquor
Corporation to receive an initial purchase order for adult-use cannabis. The purchase order would allow Tilray, one of
fourteen cannabis producers selected by NSLC, to supply the province of Nova Scotia with a
diverse array of cannabis products in anticipation of the launch of the adult-use market on October
17th, 2018. Tilray intends to fulfill NSLC purchase orders through its affiliate High Park Holdings Ltd.,
DBA High Park Company™, which was formed to produce and distribute a broad-based portfolio of adult-use cannabis brands
and products.
Cannabis Strategic Ventures, Inc. (OTC: NUGS) is a Los Angeles based firm that
incubates, develops and partners with category leaders within the cannabis sector. The Company recently announced an increased
commitment to cannabis sector brands and innovators through the development of a proprietary branding and partnership model for
the fast-growing Industry. Over the coming months, the Company will continue to develop multiple proprietary brands as its
primary investment focus. Cannabis Strategic has recently taken strong steps toward implementing this brand forward strategy with
agreements with Asher House LLC for the Asher House Pet CBD product line, the acquisition of Fitamins CBD brand, which has access
to a network of more than 600 wholesalers, beginning production of the patented Halo Filter, and entry into cannabis extraction
with one of the industry's leaders, Sunniva, Inc. Management at Cannabis Strategic plans several other similar brand-related
agreements over the coming months. "The cannabis industry presents a tremendous business opportunity. Our business model has
changed through several strategic acquisitions and we will continue to evolve to do right for our investors, the industry, our
customers, and everyone involved throughout the supply chain," commented Simon Yu, CEO of the
Company.
India Globalization Capital, Inc. (NYSE: IGC) has two lines of business, a legacy infrastructure business and a
cannabis pharmaceutical business that has developed a lead product for Alzheimer's patients. The Company recently reported that
it has designated California as a priority market for Hyalolex, its lead cannabis-based
supplement for treating and managing Alzheimer's patients. IGC's management team has been actively meeting with California-based manufacturers and distributors to assemble the requisite combination of partners to
efficiently bring Hyalolex to dispensaries, patients and caregivers in California. "The cannabis
market is showing explosive growth and we are aggressively moving forward with our vision of owning and marketing the leading
brands for large medical indications such as Alzheimer's, Parkinson's, PTSD, pain, veterinary medicine and cancer. With 8 patents
filed, IGC has made significant strides towards achieving these goals and building value for our shareholders as a NYSE American
listed company", stated Ram Mukunda, CEO of IGC.
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