NEW YORK, October 26, 2018 /PRNewswire/ --
According to a research report by Technavio, the legal cannabis market is projected to grow at a CAGR of about 24% until 2021.
The widespread proliferation of cannabidiol (CBD) oil products is one of the key growth factors for this growing market.
Additionally, the presence of online retailers is also projected to significantly impact sales rates. The medical applications of
CBD, as well as the increasing awareness of them, is what supports this segment of the industry. Technavio's Research analysis of
the global CBD oil market indicates that CBD oil is highly recommended because it can suppress the growth of cancer cells and
helps in the fight to prevent cancer itself. Focusing on the CBD segment, the research predicts that it will grow at a CAGR of
more than 39% by 2021. CLS Holdings USA Inc. (OTC: CLSH), Pyxus International Inc. (NYSE: PYX),
iAnthus Capital Holdings, Inc. (OTC: ITHUF), Origin House (OTC: ORHOF), Neptune Wellness Solutions Inc. (NASDAQ: NEPT)
A report by Deloitte indicates similarities between the legal Cannabis industry and alcohol.
"The legalization of recreational cannabis will mark an important change in Canadian society. In time, we expect legalization
will legitimize consumption and diminish the stigma that surrounds it today. After all, we've been here before-and we've shown
that we have the maturity to develop strong, thriving industries based on tightly regulated, controlled substances such as beer,
wine, and spirits. It was not all that long ago that these were regarded in a vastly different light. In our view, cannabis will
prove little different. Recreational consumption will eventually become normalized and mainstream, eliciting about as much
reaction as having a pint of craft beer," Deloitte explained.
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.'"
To view our exclusive interview with Director Andrew Glashow of CLS Holdings USA Inc. Live from Times Square in New York City, please see HD video here:
https://www.youtube.com/watch?v=SvNA_pzi4iE
Pyxus International Inc. (NYSE: PYX) is a global agricultural company with 145 years of experience delivering
value-added products and services to businesses and customers. Pyxus International Inc. recently announced that its indirect
Canadian subsidiary, Goldleaf Pharm Inc., has received its Access to Cannabis for Medical Purposes Regulations (ACMPR)
cultivation license from Health Canada. The license, awarded September 28th, 2018,
permits Goldleaf Pharm to begin cultivating medicinal cannabis at its Simcoe, Ontario facility.
"This is an important step, and an exciting time, for us at Goldleaf Pharm," said Larry Huszczo,
Goldleaf Pharm's Co-Founder. "We have a state of the art 20,000 square foot indoor growing facility, and recently acquired
20-acres of adjacent property, giving us the ability to expand to more than 700,000 square feet of production space to cultivate
cannabis. I am very proud of our team, which has worked diligently to meet Health Canada's requirements."
Source: https://investors.pyxusintl.com/investors/news/news-details/2018/Pyxus-indirect-Canadian-subsidiary-receives-ACMPR-cannabis-cultivation-license-from-Health-Canada/default.aspx
iAnthus Capital Holdings, Inc. (OTCQX: ITHUF) owns and operates best-in-class licensed cannabis cultivation,
processing and dispensary facilities throughout the United States, providing investors
diversified exposure to the U.S. regulated cannabis industry. iAnthus Capital Holdings, Inc. and MPX Bioceutical Corporation
recently announced that both companies have signed an arrangement agreement pursuant to which iAnthus will combine with MPX in an
all-stock transaction with offered equity consideration to MPX shareholders valued at USD 835
Million before giving effect to MPX International and assuming all of MPX's dilutive securities are exercised prior to the
completion of the transaction. The Agreement represents the first public to public merger transaction in U.S. cannabis history.
The combined Company, excluding MPX International, will encompass operations and cannabis licenses in 10 states that will permit
iAnthus to operate 56 retail locations and 14 cultivation/processing facilities. As a result of the transaction, iAnthus will add
retail and/or production capabilities in Arizona, Maryland,
Nevada, California and Massachusetts. These additional licenses complement iAnthus' existing assets in New York, Florida, Massachusetts,
Vermont, Colorado, and New
Mexico, forming super-regional footprints in both the eastern and western United
States.
Origin House (OTCQX: ORHOF) is a growing cannabis products and brands company operating across key markets in the U.S.
and Canada, with a strategic focus on becoming a preeminent global house of cannabis brands.
CannaRoyalty Corp. ("Origin House"), recently announced that it has registered "Origin House" as a business name and will begin
to conduct business under the Origin House name effective immediately. At market open on October
23rd, 2018, the Company's ticker symbol will change from "CRZ" to "OH" on the Canadian Securities Exchange. The
Origin House corporate identity embodies the Company's strategy to be the preeminent global house of cannabis brands.
Marc Lustig, Chairman and Chief Executive Officer of Origin House commented, "I couldn't be more
excited by what we're building at Origin House. While many public cannabis companies are now attempting to build brands by
putting logos on packages, we have already supported the growth of 50+ brand partners. While most other companies have been
staking flags across the globe in constrained markets with limited economics or brand building capability, we've been operating
for years in the largest and most dynamic market in the world, staking flags in what we see as the most valuable real estate out
there - consumer mindshare. And now, with the launch of Origin House, we are officially signaling our intention to leverage that
mindshare globally."
Neptune Wellness Solutions Inc. (NASDAQ: NEPT) (recently changed from Neptune Technologies & Bioressources Inc.) is
a health and wellness products company, with more than 50 years of combined experience in extraction, purification and
formulation of value-added differentiated science-based products. Neptune recently announced that it has received a Confirmation
of Readiness letter from Health Canada in regard to its application to become a Licensed Producer under the ACMPR (Access to
Cannabis for Medical Purposes Regulations). "This key milestone brings us to the threshold of becoming a Licensed Producer of
cannabis oil in Canada, and is a very exciting moment," said Jim
Hamilton, President & Chief Executive Officer of Neptune. "Our entry into the legal cannabis industry leverages our
established expertise in the development of innovative Omega3 oil products, navigating global regulatory frameworks, worldwide
commercialization of wellness solutions, and production of high-quality extracts, as well as our state-of-the-art Good
Manufacturing Practices (GMP)-certified facility in Sherbrooke, truly providing us with a strong
competitive edge to become a leading player in this burgeoning market".
Sources: http://neptunecorp.com/wp-content/uploads/2018/09/NEPT-HC-Readiness-Letter-_-FINAL.pdf
http://neptunecorp.com/wp-content/uploads/2018/09/Name-Change-ENGLISH.pdf
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