NEW YORK, May 17, 2017 /PRNewswire/ --
Canada has been moving forward with its full legalization plans. On April 13, Canadian Prime Minister Justin Trudeau and his government revealed the legalization bill for growth, sale and consumption of cannabis for recreational use. The bill, now known as The Cannabis Act, is expected to become a law in time for Canada's 151st birthday on July 1, 2018. Bloomberg reported that Prime Minister Trudeau made legalization a central part of his campaign in 2015 and he wants to move quickly. However, he is now facing pressure to slow down, given all the details that remain to be worked out, including tax rates and prices, as well as packaging and retail sales rules. Deloitte has estimated in a research report that annual sales of recreational cannabis in Canada could be as high as C$8.7 billion ($6.5 billion) which is a larger value than Canada's spirits market, valued at approximately $5 billion. Cannabis Wheaton Income Corp. (OTC: KWFLF), Canopy Growth Corporation (OTC: TWMJF), Aurora Cannabis Inc. (OTC: ACBFF), Organigram Holdings Inc. (OTC: OGRMF), Aphria Inc. (OTC: APHQF).
In the U.S., despite successful legalization in several states, including California where cannabis products are now legal for both medical and recreational purposes, cannabis remains illegal on the Federal level. It is unlikely to change during the current administration. A report by Bloomberg indicates that this could end up being favorable news for Canada's pot business. "The longer U.S. prohibition remains in place, the more dominant the Canadian companies will become," says Mark Zekulin, President of Canopy. "American operators are still stuck, because at the federal level it's still a crime. With that comes uncertainty and risk. Not having to worry about crossing state lines creates an environment where we can grow our scale and capital to unprecedented levels."
Cannabis Wheaton Income Corp. (OTC: KWFLF) announced this week that its partner Broken Coast Cannabis Ltd. ('Broken Coast') and discuss the CW and Broken Coast transaction in more detail. Broken Coast is a medical cannabis producer based in British Columbia which has established itself as one of the world's leading producers of high grade cannabis products. (TSX-V: CBW).
The clean tech production methods and systems developed at Broken Coast are delivering an industry leading ratio of yield and grade. Current average yields are optimized at 1.33 grams per watt with an all in cost of less than $1.50 per gram. More remarkably is that the yield is comprised of 90% AAA cannabis flower and only 10% trim. Broken Coast was recently awarded one of the few 18 month ACMPR licenses demonstrating its strong record of compliance.
Dean Kauwell, Co-Founder, Director and COO of Broken Coast commented, "Broken Coast is very enthusiastic about our new partnership with Cannabis Wheaton. As opposed to traditional VC's, the team at Cannabis Wheaton brings a lot more than money to the table. They are in it for the long term and add tremendous value in the areas of marketing, product innovation, distribution, legal, and regulatory compliance. Broken Coast is also very excited about the opportunity to participate in the dynamic market place that will be created by the Cannabis Wheaton platform. We are very confident that the funding provided by Cannabis Wheaton will enable our jointly owned entities to accelerate our expansion and achieve significant scale of high grade cannabis production in a short amount of time. We appreciate the trust and confidence placed in us by the Cannabis Wheaton team and we look forward to a long, productive, and profitable relationship."
Canopy Growth Corporation (OTC: TWMJF) is a world-leading diversified cannabis company, offering diverse brands and curated cannabis strain varieties in dried and oil extract forms. Recently, the company announced the closing of the previously announced acquisition of rTrees Producers Limited Inc., a late-stage applicant in Health Canada's Access to Cannabis for Medical Purposes Regulations. The site will operate as Tweed Grasslands ("Tweed Grasslands") and become the newest facility to join Canada's largest network of legal, licensed cannabis producers owned and operated by Canopy Growth.
On April 20, 2017, Aurora Cannabis Inc. (OTCQX: ACBFF) announced that the company has commenced sales of a new product line of ingestible cannabis oils called Aurora Drops. The Company's newest offerings include three distinct product types all priced equally at a standard flat rate of $115 per bottle, or $80 per bottle for clients approved for Aurora's compassionate pricing program. The ingestible cannabis oils come in 30 ml glass bottles with a child resistant certified cap and dropper to allow for the easy and accurate dosing of small amounts of the high potency fluids, and are produced using CGMP compliant supercritical CO2extraction technology, as well as using an MCT carrier oil sourced from coconut oil.
Organigram Holdings Inc. (OTCQB: OGRMF) is focused on producing the highest quality, condition specific medical marijuana for patients in Canada. Organigram's facility is located in Moncton, New Brunswick and the company is regulated by the Access to Cannabis for Medical Purposes Regulations ("ACMPR"). on April 10, 2017, Organigram signed a letter of intent to acquire all of the issued and outstanding shares of Trauma Healing Centers Incorporated ("THC"). THC specializes in medical cannabis assessment and prescribing while offering a multi-disciplinary approach to healing chronic conditions. "The acquisition of THC will allow Organigram to accelerate its patient onboarding strategy and further vertically integrates our goal company's cannabis value chain," says Greg Engel, Chief Executive Officer of Organigram.
Aphria Inc. (OTCQB: APHQF) produces, supplies and sells medical cannabis. The company recently announced that the company has received a license amendment from Health Canada that provides Aphria with additional production space of 57,000 square feet, as part of its Part II expansion at its facility in Leamington, Ontario. This will more than triple Aphria's production capacity of medical cannabis from 2,600 kgs annually to 8,000 kgs annually. Vic Neufeld, Chief Executive Officer of Aphria said: "This will allow us to continue to produce high-quality cannabis at one of the lowest costs in the industry. The expansion will propel Aphria's greenhouse footprint to become the largest in the industry and deliver on our long-term strategic plan."
Please Sign Up now at http://www.FinancialBuzz.com to receive alerts on Trending Financial News from all these companies. "The Latest Buzz in Financial News"
Subscribe Now! Watch us report from NYSE https://www.youtube.com/FinancialBuzzMedia
Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz
Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz
Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/
FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.
For further information: