PALM BEACH, Florida, September 20, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
The medicinal cannabis space continues to be overtaken by CBD as consumers gravitate toward alternative medicines. Cannabidiol (CBD) has become a popular choice to treat issues including anxiety, inflammation and other common ailments. This rising rate of usage is pushing the overall cannabis market to new heights as Arcview Market Research estimate over $9 billion was spent in 2017. As legalization continues to advance around the globe, markets such as CBD continue to enjoy the benefit of increased consumer awareness. Revenue growth is not anticipated to slow anytime soon, especially as investment into research and development in the space continues to rise. Active cannabis companies in the markets this week include Integrated Cannabis Company, Inc. (CSE:ICAN) (OTC:ICNAF), Cronos Group Inc. (NASDAQ:CRON) (TSX:CRON), Namaste Technologies Inc. (OTC:NXTTF) (TSX-V:N), Aleafia Health Inc. (TSX-V:ALEF) (OTC:ALEAF), The Supreme Cannabis Company Inc. (TSX-V:FIRE) (OTC:SPRWF).
Integrated Cannabis Company, Inc. (CSE:ICAN) (OTCQB:ICNAF) BREAKING NEWS: Integrated Cannabis Company is pleased to announce the completion of a Letter of Intent (LOI) to distribute X-SPRAYS™ products throughout the clinics and doctors' offices of Empower Clinics Inc. (CSE: EPW; FRA: 8EC) ("Empower"), a leading owner and operator of medical cannabis and wellness clinics in the United States (US).
The companies have recently engaged with their marketing and distribution teams to streamline the logistics of rolling out new products in the Empower clinics. Integrated Cannabis will distribute all of its CBD-infused X-SPRAYS™ including; CBD, Sleep, Recover, Libido and Energy throughout the Empower ecosystem.
"We believe this milestone marks another significant move for distribution of X-SPRAYS™ in key markets across the United States. In addition, we believe this alliance will help increase awareness from credible sources about alternative treatments for those struggling with opioid addiction, pain, anxiety, sleep issues and people seeking overall well-being," said Mr. John Knapp, CEO of Integrated Cannabis. The Company expects to sign a definitive agreement with Empower in the coming weeks.
"We are very excited about our partnership with X-SPRAYS as we believe it brings leading technology and treatment for the most common conditions our patients face. X-SPRAYS state of the art product formulations and unique metered dosage help consistently deliver a world class product," said Mr. Craig Snyder, CEO of Empower.
As of August 31, Empower has more than 25,000 patients under care across 15 locations with medical cannabis treatments in Oregon, Washington and Illinois. The patient base in Oregon represents approximately one-third of the state's total medical card issuance. In addition, Empower has an historical patient database of more than 120,000 in the two states. Read this and more news for ICAN at http://www.marketnewsupdates.com/news/ican.html
Other recent developments in the cannabis industry include:
Cronos Group Inc. (NASDAQ:CRON) (TSX:CRON) recently announced the launch of its second cannabis brand for the domestic recreational market, Spinach™. On October 17, 2018, Canada is expected to become the first G7 country to federally legalize recreational cannabis. This watershed moment means that consumers in Canada will be able to purchase high quality Spinach™ without fear of persecution for their love of beautiful green plants. "Cronos Group's first priority is responsible distribution so we made sure to select a brand name that we felt would not appeal to kids," said Mike Gorenstein, CEO of Cronos Group. "Spinach™ has been carefully curated to deliver on our promise to provide high-quality products to fun-loving mature adults who are sick of hearing about kale."
Namaste Technologies Inc. (TSX:N.V) (OTCQB:NXTTF) recently announced its inclusion in the Horizons Medical Marijuana Life Sciences ETF. Inclusion in the ETF is as a significant milestone for Namaste as the Company establishes itself as a leader in cannabis-focused e-commerce technology. The ETF seeks to replicate, to the extent possible, the performance of the North American Marijuana Index (the "Index"), net of expenses. The Index is designed to provide exposure to the performance of a basket of North American publicly listed life sciences companies with significant business activities in the marijuana industry. Only stocks that meet minimum asset and liquidity thresholds are eligible for inclusion in the Index. Stocks are rebalanced quarterly on a market-capitalization basis and capped so that no single stock can exceed 10% of the weight of the Index when rebalanced.
Aleafia Health Inc. (TSX-V:ALEF.V) (OTCQX:ALEAF) earlier this week announced that its 160,000 sq. ft. Niagara greenhouse retrofitting is on schedule and expected to be complete in late 2018. Aleafia is also pleased to provide shareholders with a behind the scenes look at Aleafia's operations in the following video which can also be found by visiting http://www.aleafiainc.com/invest . "We made a commitment to secure high-quality product for medical cannabis patients, and I'm extremely pleased with the rapid progress our team has made. We are very well positioned for significant growth with two major income streams from cannabis sales and clinic operations providing immediate revenue to Aleafia," said Aleafia Chairman Julian Fantino. "Aleafia now boasts two low-cost, modern cannabis production facilities, along with a medical cannabis clinic network that has attained 50,000 unique patients. Our Niagara Region greenhouse will see us leverage modern growing technology, leading to a perpetual, year round harvest and low cost per gram output," said Aleafia CEO Geoffrey Benic.
The Supreme Cannabis Company Inc. (TSX-V:FIRE.V) (OTCQX:SPRWF) recently announced that its wholly owned subsidiary, 7ACRES, has entered into a supply agreement to provide dried cannabis to Tilray Canada Ltd., a subsidiary of Tilray Inc. (TLRY), a global leader in cannabis research, cultivation, processing and distribution currently serving tens of thousands of patients in 11 countries spanning 5 continents. The value of this initial supply agreement is estimated to be in excess of C$2 million. Dried cannabis provided to Tilray by 7ACRES will be used primarily to support medical cannabis patients in Canada, including Tilray's robust patient population. "We are pleased to enter into this agreement with Tilray. As one of Canada's first licensed producers, Tilray has been an industry leader in patient services and quality assurance. We believe this agreement demonstrates the quality of the 7ACRES dried flower, and the infrastructure, management and systems that support our brand positioning," said John Fowler, CEO of Supreme Cannabis.
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