NEW YORK, October 19, 2018 /PRNewswire/ --
The cannabis market has been growing in recent months and Canada began legal sales of
recreational marijuana earlier this week. It is a promising time for cannabis companies in North
America, here are some to keep an eye on. The legalization of adult-use cannabis in Canada and California this year may set an example for other nations as the
booming cannabis market has potential to generate even more job opportunities and economic benefits. According to a report
released by Arcview Market Research, in partnership with BDS Analytics, consumer spending on legal cannabis is expected to reach
USD 11 Billion in 2018 and more than USD 23 Billion by 2022. The U.S.
cannabis industry is also projected to generate more than 467,000 full-time equivalent jobs in 2022, up from 170,000 full-time
equivalent jobs in 2017. The U.S. has the largest legal cannabis market in 2017, accounting for 90% of the world market. However,
its market shares are projected to shrink to 73% in 2022. CLS Holdings USA Inc. (OTC: CLSH),
Canopy Growth Corporation (NYSE: CGC), Aphria Inc. (OTC: APHQF), KushCo Holdings, Inc. (OTC: KSHB), Terra Tech Corp. (OTC:
TRTC)
The European cannabis market is also expected to witness rapid growth. According to data compiled by Prohibition Partners, the
European cannabis market will be worth EUR 115.7 Billion by 2028. Stephen
Murphy, Managing Director, Prohibition Partners, said: "Public, political and professional opinions are swinging largely
in favor of the legalization and regulation of cannabis. Europe, which is known for its
considered and conservative approach to change, is suddenly becoming a hotbed of activity for the global cannabis industry. In
just six months, the European cannabis industry has grown more than it has done in the past six years. Currently, patient numbers
are below 100,000 across the region but this number is set to grow to over 30 million in the next ten years."
CLS Holdings USA Inc. (OTCQB: CLSH) earlier this month announced 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.'"
Canopy Growth Corporation (NYSE: CGC) is a world-leading diversified cannabis and hemp company, offering distinct
brands and curated cannabis varieties in dried, oil and Softgel capsule forms. Canopy Growth Corporation recently announced that
it has entered into an agreement to acquire the assets of ebbu, Inc., an Evergreen,
Colorado-based hemp research leader. The transaction will complement and accelerate multiple core verticals operating
under Canopy Growth's group of companies. Intellectual Property ("IP") and R&D advancements achieved by ebbu's team apply
directly to Canopy Growth's hemp and THC-rich cannabis genetic breeding program and its cannabis infused beverage capabilities.
Additionally, ebbu's IP portfolio will contribute to the clinical formulations program being executed by Canopy Health
Innovations, a wholly owned subsidiary of the Company. Canopy Growth operates a rapidly emerging, field-scale hemp operation
based in Saskatchewan and by applying ebbu's IP, the Company has the potential to vastly reduce
the cost of CBD production, a sought-after cannabinoid in both the wellness and medical spaces. "Beyond the technological edge
this transaction provides, we are pursuing this acquisition because Canopy shares ebbu's core ethos of building consumer trust,"
said Mark Zekulin, Co-Chief Executive Officer & President, Canopy Growth. "We collectively
believe consumer trust is achieved by driving the scientific agenda needed to build predictable, repeatable outcomes and layering
on brand power."
Aphria Inc. (OTCQB: APHQF) is a leading global cannabis company driven by an unrelenting commitment to our people,
product quality and innovation. Aphria Inc. recently announced that it has completed its first shipment of cannabis oil to its
Argentina-based subsidiary ABP, S.A., a pharmaceutical import and distribution company. In
accordance with a previously announced supply agreement, the Company delivered 1,500 bottles of Aphria's renowned Rideau CBD oil,
which were provided to Hospital de Pediatria Garrahan, a leading pediatric hospital located in Buenos
Aires, for use in a clinical study focused on treating refractory epilepsy in children. Aphria acquired ABP last month
when the Company closed its acquisition of LATAM Holdings Inc., expanding the Company's global footprint to include a leading
presence in Latin America and the Caribbean. "Argentina will play a foundational role as Aphria cements its leadership in medical cannabis throughout the
region," said Vic Neufeld, Chief Executive Officer of Aphria. "Aphria and ABP, in close
partnership with the Argentinean government, continue to advance opportunities for medical cannabis in the country, including the
potential for in-country cultivation. We are also proud to support the critical and necessary research being undertaken by
Hospital Garrahan on the treatment of refractory epilepsy in children with our Rideau CBD oil."
KushCo Holdings, Inc. (OTCQB: KSHB) is the parent company to a diverse group of business units that are transformative
leaders in the cannabis, CBD and other related industries. KushCo Holdings, Inc., recently announced it has signed an exclusive
sales and innovation agreement with ExtractionTek Sales, LLC, dba. ExtractionTek Solutions ("ETS"), a leading provider of closed
loop hydrocarbon extraction equipment, based in Colorado. The reciprocal agreement is designed
to drive additional client expansion for both companies through their complementary operations. "Our agreement with ETS will
allow us to capitalize on the growing demand for closed loop hydrocarbon extraction by businesses that ultimately need solvents
and hydrocarbon gases, generating additional opportunities for our aggressive customer expansion," said Jason Vegotsky, the President of Kush Supply Co. "ETS provides innovative solutions for quality-manufactured,
efficient and safe extraction equipment and maintains strong customer relationships in many of the same key domestic markets that
we currently operate within, further enhancing the opportunity to cross-sell our customer base."
Terra Tech Corp. (OTCQX: TRTC) operates through multiple subsidiary businesses including: Blüm, IVXX Inc., Edible
Garden, and MediFarm LLC. Terra Tech Corp. recently announced that it has purchased a retail property in downtown Las Vegas, located at 121 North Fourth Street. The Company plans to convert the building into a Blüm™ retail
dispensary, focused on providing the highest quality medical and adult use cannabis to the Nevada market. Derek Peterson, Chief Executive Officer of Terra Tech, stated,
"We remain committed to growing our footprint in Nevada, which remains a lucrative market for
the cannabis sector. The building is located in the heart of the booming Downtown Las Vegas
trade area, an area in which we did not previously have a presence but which benefits from high foot traffic. Last year, 32
percent of the visitors to Las Vegas visited the downtown area. Of those, 59 percent said the
main reason was to visit the Fremont Street Experience. We are pleased to have secured this building, which has great
street-front visibility, and expect that, once it has been rebranded and fully-licensed under our recognizable Blüm brand, it
will contribute meaningfully to the Company's revenue growth."
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