NEW YORK, June 12, 2018 /PRNewswire/ --
According to data provided by research firm Cowen & Co., the U.S. legal cannabis industry is expected to reach USD 75 Billion in sales by 2030. The research explains that growing consumer support for legal cannabis, and increased access, is what is driving meaningful change at the state level. Additionally, Cowen expects to see ballot initiatives to legalize cannabis for adult-use in both Michigan and Illinois in the upcoming midterm elections. Furthermore, expanded access in Maine, Massachusetts and New Jersey could prompt other states in the Northeast to make changes. Crop Infrastructure Corp. (OTC: CRXPF), Cannabis Sativa, Inc. (OTC: CBDS), iAnthus Capital Holdings Inc. (OTC: ITHUF), INSYS Therapeutics, Inc. (NASDAQ: INSY), Axim Biotechnologies, Inc. (OTC: AXIM)
According to a Bloomberg report, analyst Vivien Azer commented, "With the industries' diverging trajectories, weed may be poised to take the mantle as the larger industry. Cannabis is growing rapidly as more states legalize the plant. Nine states and Washington, D.C., now allow for recreational pot use. That means more than one in five American adults can smoke, vape, eat or drink it however they please. Cowen previously predicted that the market, assuming federal legalization, would reach $50 billion by 2026."
Crop Infrastructure Corp. (OTC: CRXPF) also listed on the Canadian Securities Exchange under the Ticker (CSE: CROP). Earlier last week the company announced breaking news that it, "has entered into a licensing agreement for four established cannabis brands that are currently being sold in Washington and will be available in California shortly:
- Evolution Cannabis;
- Tiffany CBD;
Crop will be sublicensing these established brands to its tenant growers in
California and Washington.
Furthermore, Crop has acquired 10 additional brands for licensing to its tenant growers as follows:
- Prohibition Greens;
- Players Greens;
- White Rhino Cannabis;
- Illuminati Cannabis;
- Diablo Herbs;
- Gator Ganja;
- Makavelli Cannabis;
- Honey Badger Buds;
- Choices Cannabis;
- CHE Cannabis.
Crop Infrastructure director and chief executive officer Michael Yorke stated: "As the cannabis market grows and matures, consumers will choose brands that they trust to provide superior quality. Having unique and established brands that we will be able to license in Washington, California, other states and globally will be another benefit that Crop will be able to provide to its tenant growers."
Cannabis Sativa, Inc. (OTCQB: CBDS) is engaged in the licensing of cannabis related intellectual property, marketing and branding for cannabis based products and services, operation of cannabis related technology services, and ancillary business activities. PrestoDoctor Pennsylvania Expansion / Cannabis Sativa, Inc. announced on April 5th, 2018 that PrestoDoctor®, the leading online medical marijuana recommendation service, will be expanding to Pennsylvania on April 20th, 2018. More than 3,800 people have signed up in the medical marijuana patient registry's first week, signaling strong statewide interest in the program that will give those with one of 17 specific diagnoses access to cannabis beginning next year. "We are extremely excited to be expanding to Pennsylvania, and to help patients have easier access in obtaining a medical marijuana card," said PrestoDoctor® Co-Founder and CEO, Kyle Powers. "With so many people looking for an opioid alternative, and other natural options, it's important to provide an easy, honest, and affordable service," he added.
iAnthus Capital Holdings Inc. (OTCQB: 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. The company recently announced Q1 2018 results, highlighting the recorded $3.2 million of revenues in Q1 2018, compared to $0.3 million in Q1 2017. Additionally, in Massachusetts, the Company's Mayflower operation received its final certificate of registration from the Department of Public Health and began operations at its 36,000 square-foot Holliston cultivation and processing facility. At the close of Q1 2018, Mayflower was cultivating 2,670 plants, representing 15 different strains. In Florida, the Company signed leases for dispensary locations in West Palm Beach, Orlando, Tampa Bay, and Deerfield Beach. Furthermore, in New York, the Company acquired 8.5 acres of land for a planned 39,500 square-foot modular cultivation and processing facility; and signed a lease on the Company's flagship 2,000 square-foot dispensary in Brooklyn.
INSYS Therapeutics, Inc. (NASDAQ: INSY), a leader in the development, manufacture and commercialization of pharmaceutical cannabinoids and spray technology, announced on May 8th, that it has agreed to an exclusive license partnership with Lunatus for commercialization of SUBSYS® (fentanyl sublingual spray) in the Middle East. "Partnering with Lunatus will make SUBSYS® available to adult cancer patients in the licensed territory who are suffering episodes of breakthrough cancer pain despite receiving around-the-clock opioid therapy," said Saeed Motahari, president and chief executive officer of INSYS Therapeutics. "Considering the Lunatus footprint in the Middle East, we view this partnership as further validation of the important clinical role that SUBSYS® could play internationally for appropriately selected cancer patients with breakthrough cancer pain."
Axim Biotechnologies, Inc. (OTCQB: AXIM), a world leader in cannabinoid research and development, today announced that the company has secured additional funding needed to further its clinical development program through S-3 stock purchases. "This financing highlights our investor's confidence in AXIM and our potential for success in cannabinoid-based pharmaceutical research," said George E. Anastassov, MD, DDS, MBA and Chief Executive Officer of AXIM Biotech. "This deal will allow AXIM to move forward with a number of clinical projects including our bio-equivalent dronabinol chewing-gum based product and the MedChewRx™ program for treatment of pain and spasticity in Multiple Sclerosis patients."
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