NEW YORK, June 15, 2018 /PRNewswire/ -- According to the data provided by Energias Market Research, the global medical cannabis market is anticipated to increase in value from USD 8.28 Billion in 2017 to USD 28.07 Billion in 2024, and at a CAGR of 19.1% from 2018 to 2024. There are several vital factors that boost the growth of the market, like growing recognition of medicinal benefits, increasing demand for cannabis in the treatment of various diseases, as well as growing research and development investments. Sales of cannabis products for recreational uses are also projected to increase, as California's new recreational cannabis laws went into effect earlier this year. While California is the largest market, Canada will show strong sales as well; a report by Deloitte estimates the Canadian market will be worth at least USD 5 Billion in sales this year. Crop Infrastructure Corp. (OTC: CRXPF), Acacia Diversified Holdings, Inc. (OTC: ACCA), Future Farm Technologies Inc. (OTC: FFRMF), InMed Pharmaceuticals, Inc. (OTC: IMLFF), PotNetwork Holding, Inc. (OTC: POTN)
In a report by Benzinga, Viridian Capital President, Scott Greiper, indicates that the cannabis market received USD 1.23 Billion in investments during the first five weeks of 2018, up from USD 178 Million a year earlier. Viridian Capital Advisors' Vice President Harrison Phillips explained: "Investments in cultivation and retail this year have been driven predominantly by the Canadian player. This has been happening pretty consistently from late 2016 through 2017. This reflects the necessity to scale cannabis businesses, to get some kind of advantage, and to explore strategic opportunities, both through acquisitions and international expansion."
Crop Infrastructure Corp. (OTC: CRXPF) also listed on the Canadian Securities Exchange under the Ticker (CSE: CROP). Earlier this week the company announced breaking news that it, "has secured The Depository Trust Company eligibility for its shares traded in the United States under the symbol CRXPF. The company's common shares traded on the OTC market in the United States, under the symbol CRXPF, are Depository Trust Company eligible, effective June 12, 2018. The DTC will facilitate electronic settlement of transfers of its common shares in the United States. Michael Yorke, chief executive officer of Crop, states: "Crop is registering its shares with DTC as a fundamental step towards establishing the company with the American investment community. The DTC's electronic settlement of our shares is critical to having an effective market. Our goal is to graduate to a more senior exchange in the future and expand our business endeavors globally."
About Crop Infrastructure Corp. - Crop Infrastructure is engaged in the business of investing, constructing, owning and leasing greenhouse projects as part of the provision of turnkey real estate solutions for lease-to-licensed cannabis producers and processors offering best-in-class operations. Crop's portfolio of projects includes greenhouse facilities in California and Washington State."
On June 12th, 2018 the company also announced that, "has signed a definitive licensing agreement for U.S. distribution rights and for the exclusive Italian rights to The Yield Growth Corp.'s proprietary cosmetic and therapeutic products that are formulated for infusion with cannabis.
The agreement grants Crop the licence to infuse Yield Growth subsidiary Juve Wellness Inc.'s products with high CBD (cannabidiol)/low THC (tetrahydrocannabinol) cannabis and exclusively distribute the products in Italy for three years, with annual renewals on achieving certain sales. Juve has agreed to customize branding and labelling of its products for Crop for the Italian market. Crop is also acquiring the non-exclusive rights to distribute the line of hemp-root-oil-based Juve products in the United States. Juve and Crop have agreed to negotiate exclusively for a period of 30 days for the possible exclusive rights to infuse the products with cannabis and distribute them in California and Washington.
Juve has developed a modern wellness line inspired by Ayurveda, an ancient and effective medical system that uses plant-based ingredients for healing and wellness. Juve has registered 25 of its products with Health Canada and has submitted 10 provisional patent applications in the U.S. for its formulas and extraction process. Juve plans to launch its products for Canadian retail distribution in early 2019. The line includes over 50 cosmetic and therapeutic products based on proprietary, completely organic formulations (which have been designed to be infused with CBD and THC). The line includes face and body products customized according to specific body biology, including daily ritual oils, moisturizers, face mists, bath salts, soap and face masks. Therapeutic products include sunscreen, anti-aging serum, sports spray, teas, topical formulations for treatment of inflammation and chronic pain, and capsules. Sexual lubricant, massage oils, lip balm, deodorant and sunscreen are also included in the Crop licensing package…
"We are thrilled to be aligned with Crop Infrastructure Corp. to infuse with cannabis and distribute our extensive line of wellness products throughout Italy," says Penny Green, president and chief executive officer of Yield Growth. "Crop is at the forefront of the burgeoning cannabis industry, as it now seeks to move beyond the state of Washington and California, with this deal as its entry into the European cannabis market."
Michael Yorke, chief executive officer of Crop Infrastructure, stated: "This acquisition will be complementary to our efforts of expanding our operations into Europe. We also look forward to bringing this suite of new offerings to our tenant growers and their distribution in Washington and California, and as we continue to expand into other states.""
Acacia Diversified Holdings, Inc. (OTCQB: ACCA) an emerging cannabis company, through one of its wholly owned subsidiaries, MariJ Pharmaceuticals Inc., a USDA certified organic mobile processing and handling solutions company, announced last year its receipt of a License to Operate: Manufactured Food Establishment certificate, issued on November 8, 2017 by the Colorado Department of Public Health and Environment. "We are pleased, for our shareholders and customers of Colorado, to share in these efficiencies surrounding this manufacturing license. This license validates the organic and food grade quality material the Company is able to produce from its mobile extraction labs on beneficial farms in Colorado. This license acquisition sets a new level for the company's mobile fleet, placing it in a new category of quality," said Richard K. Pertile, Acacia's Chief Executive Officer.
Future Farm Technologies Inc. (OTCQX: FFRMF) is a Canadian company with holdings throughout North Americaincluding California, Massachusetts, Florida, Maine, Puerto Rico and Newfoundland. Future Farm Technologies Inc. recently announced that its cannabis breeding and in vitro propagation business segment (a joint venture with Rahan Meristem and CEPG, the "JV") is vetting top candidates to fulfill the lead scientist role for its state of the art laboratory in St. John's, Newfoundland. This move ushers in a new phase of planning and development for the space, slated to be completed in November of 2018. The objective for JV is to position the Company as a research leader in genetics, biochemistry and in vitro technology in the cannabis space. Research and development in St. John's will help shape the future of cannabis research thought leadership while gaining valuable insight into propagation, cultivation and manufacturing. Additionally, this strategic JV is expected to create valuable IP to be sold worldwide, providing global reach on a scale thus far unrealized in the cannabis ecosystem. "The future of agro-biotechnology as it relates to the cannabis plant is in its infancy. The top minds in their respective fields will help pave the way for powerful, ethical applications of this historically underutilized resource. Our strict vetting of top-tier geneticists will guide our vision of developing safe and valuable treatments, fulfilling clear and undeniable social imperative," states Dr. Eli Khayat, Vice President of Research and Development for Rahan Meristem.
InMed Pharmaceuticals, Inc. (OTCQX: IMLFF) is a pre-clinical stage biopharmaceutical company that specializes in developing novel therapies through research and development into the extensive pharmacology of cannabinoids coupled with innovative drug delivery systems. The company recently announced it has filed a Patent Cooperation Treaty application for INM-085 as a cannabinoid-based topical therapy for glaucoma, which includes protection of its technology in about 150 different countries including the United States. The PCT filing, which is a conversion from the provisional patent filed in May 2017, is an important step in providing intellectual and commercial protection for this therapy. "With the filing of this patent application, we are continuing the process of pursuing commercial protection for our novel technologies, in this case until May 2038. This is particularly important to the Company as we undertake additional pre-clinical studies of INM-085, as well as pursue initial discussion with potential partners," said Eric A. Adams, InMed's President and Chief Executive Officer.
PotNetwork Holding, Inc. (OTC: POTN) is a publicly traded company that acts as a holding company for its subsidiaries, First Capital Venture Co., the owner of Diamond CBD, Inc., the maker of Diamond CBD oils. PotNetwork recently announced that its subsidiary, Diamond CBD, Inc., has been experiencing heightened channel and consumer interest in, and sales of, its recently introduced Meds Biotech CBD-infused product line. Made from organic industrial hemp and THC free, these Meds Biotech supplements are formulated with a combination of 10mg of CBD combined with a turmeric blend that delivers 750mg of bioactive turmeric per capsule. Meds Biotech, as a wellness focused new product line, expands the Company's marketing and distribution into targeted health-focused distribution channels, such as vitamin shops, health product stores, gyms and fitness centers, chiropractic and physicians' offices.
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