NEW YORK, October 16, 2018 /PRNewswire/ --
According to a report published by Global Market Insights, the U.S medical cannabis market size was valued at over
USD 3.5 Billion in 2017 and is expected to exceed USD 8.0 Billion by
2024 while growing at a compound annual growth rate (CAGR) of 13%. The increasing use of cannabis as a treatment for a range of
chronic pain will boost the market growth. Currently, 31 U.S. states have legalized cannabis for medical use. According to data
from the National Health Interview Survey, about 25 Million people suffer from pain every day in the U.S. The medical cannabis
pain management market in the country was valued at USD 2,691.9 Million in 2017, accounting for 75%
of the market share. CLS Holdings USA Inc. (OTC: CLSH), GrowGeneration Corp. (OTC: GRWG),
CannaRoyalty Corp. (OTC: CNNRF), Emerald Health Therapeutics, Inc. (OTC: EMHTF), Cannabis Sativa, Inc. (OTC: CBDS)
Medical cannabis is now legal in 30 U.S. states and Washington, D.C., while nine states and D.C. have legalized
recreational use. Canada also legalized cannabis for recreational use this year, with sales expected to begin
on October 17th. According to CNBC, Matt Karnes, Founder of industry analyst firm, GreenWave Advisors, said,
"Multinational companies that are stepping in, or potentially want to step in, are all eyeing Canada, whereas I
believe the United Statesclearly has the most robust and compelling opportunity for cannabis."
CLS Holdings USA Inc. (OTCQB: CLSH) announced last week that, "it has entered into an
agreement with a Canadian agent (the "Agent"), whereby the Agent will assist the Company in selling on a commercially reasonable
efforts private placement basis, up to US$40 million aggregate principal amount of senior unsecured
debentures ("Debentures") with an issue price of US$1,000 per Debenture, convertible into units of
the Company (the "Units") at the option of the holder at a conversion price of US$0.80 per Unit
(the "Conversion Price") at any time prior to the close of business on the earlier of: (i) the last business day immediately
preceding the maturity date of the Debentures, being the date that is three (3) years from the closing date of the Offering (the
"Closing Date"), and (ii) the date fixed for redemption (as set out in the Debentures (the "Offering"). Each Unit shall be
comprised of one common share of the Company (a "Common Share") and one-half of one common share purchase warrant (each whole
warrant, a "Warrant"). Each Warrant shall be exercisable into one Common Share at a price of US$1.10 per Warrant (the "Exercise Price") for a period of 36 months from the Closing Date… The Company intends
to use the net proceeds of the Offering to fund the upfront loan payment to In Good Health Inc., to fund construction activities
at the Leicester facility, to complete improvements to the North Las Vegas cultivation facility
and for general working capital purposes."
On September 17th, 2018 CLS Holdings USA Inc. also
announced that, "it has executed two Letters of Intent (LOIs) to enter the rapidly growing Massachusetts market. CLS looks forward to the opportunity to enter the Massachusetts market, which has been operating as a legalized medical jurisdiction since 2015 and has
approved legalized recreational use.
CLS has agreed in principle to loan $5 million to In Good Health, a licensed medical dispensary
in Brockton, Massachusetts with a significant market share. Along with the loan, CLS will have
an option to acquire InGood Health. InGood Health is located 25 miles south of downtown Boston
and is one of the 38 licensed dispensaries in the state. The Brockton dispensary was the second
licensed dispensary in the state and has been operational since September 2015, which has been
medical only up until this time. In Good Health is currently servicing 17,000 registered patients and delivering to 1,700 homes
with key product offerings of flower, concentrates, vapes, edibles, pre-rolls and tinctures.
CLS has also agreed in principle to form an 80/20 joint venture with CannAssist, which CLS will own 80%. CannAssist plans to
build out a recreationally licensed cultivation grow facility in Leicester, Massachusetts. The
planned Leicester 86,000 square foot facility is in possession of its host community agreement,
is awaiting state acknowledgement of its pending recreational licenses and upon completion will be the third largest cultivation
grow in the state. The Leicester facility is anticipated to produce its first harvest in the
fourth quarter of 2019 and be able to produce 28,000 lbs of flower along with 858,000 grams of extract once it is operating at
capacity. At current pricing of $3,500 per pound of flower and $40
per gram of extract, total capacity is expected to reach $120 million in revenue. CLS anticipates
generating substantial positive cash flow from the joint venture.
Massachusetts has a population of 6.9 million people as compared to 5.6 million people in
Colorado. Massachusetts is also centrally located to the dense
population of New England with a less than 100-mile drive from Rhode Island, Connecticut, New York, New Hampshire and
Vermont. In 2017, Colorado generated $1.5 billion in legalized marijuana sales and had over 500 licensed dispensaries and over 700 licensed
cultivation facilities. Massachusetts currently has issued only 39 licensees.
Jeff Binder, Chief Executive Officer of CLS Holdings USA,
commented, "We are extremely excited to have the opportunity to enter the Massachusetts market.
It's something we have been eyeing for a long time given the attractive characteristics and recent approval of adult use
cannabis. This opportunity fits into our stated objective of entering markets that are on the cusp of implementing a robust adult
use market."
David Noble, President of InGood Health and Partner of CannAssist, commented, "I am proud of
all our team has accomplished to create a leading medical marijuana dispensary. I look forward to continuing our mission and hard
work We look forward to the opportunity to be part of one of the top companies in the field. This will ensure that we can provide
the highest quality products to patients and customers for many years to come."
Jon Napoli, Managing Partner, CannAssist, stated, "We have been working with the city of
Leicester for the past 12 months on this project and are pleased to receive all necessary
approvals. This will bring a number of employment opportunities to this community and we look forward to being a reliable partner
and producing some of the finest quality cannabis in the state."
GrowGeneration Corp. (OTCQX: GRWG) owns and operates specialty retail hydroponic and organic gardening stores. In
Septmeber, the Company announced that it has formed GrowGeneration Hemp Corp. for the purpose of developing and selling hemp
agricultural products to the growing number of hemp farms in the U.S. Information compiled by states and industry indicates that
there were more than 25,500 acres of hemp production in 2017, up from 9,770 acres in 2016. In 2017, there were 1,420 registered
or licensed growers and 32 universities conducting hemp research nationwide. Currently, GrowGen services over 2,000 acres of hemp
farms, with cultivators that include International Hemp Exchange, Liberty Tree CBD and Green Tara Farms to name a few.
Source: https://www.otcmarkets.com/stock/GRWG/news/GrowGeneration-Opens-Hemp-Corp-to-Sell-Agricultural-Products-to-Hemp-Farms?id=203358
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.
Earlier this month, the Company announced that it has finalized a definitive agreement with Australis Capital Inc. whereby
Australis will purchase 2,200,000 common shares in the capital of Wagner Dimas Inc. from Cannroy Delaware Inc., a wholly-owned
subsidiary of CannaRoyalty. Marc Lustig, Chairman and CEO of CannaRoyalty commented: "As
CannaRoyalty continues to grow and build a solid presence in California as a cannabis brands
company and a major third-party distributor, our focus has been concentrated on realizing value from assets that are non-core to
our business. This Agreement cements this stated strategy. The approximately 182% return on investment from the sale of our
equity stake in Wagner Dimas reinforces our commitment to generate significant returns for shareholders and fund accretive growth
in our key markets in North America."
Emerald Health Therapeutics, Inc. (OTCQX: EMHTF) is a Licensed Producer under Canada's
Access to Cannabis for Medical Purposes Regulations and produces and sells dried cannabis and cannabis oil for medical purposes.
Recently, the Company announced that Northern Vine Canada Inc., a wholly owned subsidiary of Emerald, has successfully completed
the export of cannabis oil to the United States on May 25th,
pursuant to an import permit from the federal U.S. Drug Enforcement Agency (DEA). The cannabidiol (CBD)-containing cannabis oil
is expected to be used by a U.S. biopharmaceutical company to develop its proprietary cannabinoid technology for medical research
and development and for its manufacturing process for future clinical trials. In addition, Northern Vine successfully imported
isolated cannabigerol (CBG) from Spain on June 27th for medical
research and development of plant-based therapies with unique cannabinoid profiles. Northern Vine also recently received
cannabinoid oil imports for medical research and development from Netherlands and Colombia, and has been approved for cannabinoid oil imports from China.
Cannabis Sativa, Inc. (OTCQB: CBDS) is engaged in the licensing of cannabis related intellectual property, marketing
and branding for cannabis based products and services, operation of cannabis related technology services, and ancillary business
activities. Recently, the Company announced that the United States Patent Office will issue to CBDS the U.S. Patent number
10105343 titled "Cannabis based compositions and methods of treating hypertension" on October
23rd, 2018. The invention relates to a Cannabis-based pharmaceutical composition for the treatment of
hypertensive disorders by submucosal delivery comprising a pharmaceutically acceptable base and an effective amount of at least
one cannabinoid or endocannabinoid containing extract of a cloned hybrid of the plant Cannabis sativa, subspecies sativa and
Cannabis sativa, subspecies indica of the CTSX-ISS lineage.
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