NEW YORK, August 20, 2018 /PRNewswire/ --
Data compiled by Mordor Intelligence indicates that the global cannabis market was valued at USD 7.7 Billion in the 2016 and is projected to reach USD 65 Billion by 2023 while registering a healthy CAGR of 37% during the forecast period. The market's robust growth is attributed to the continued legalization and decriminalization of cannabis products for both medical and recreational purposes across the United States. The research also emphasizes the important role the North American region is set to play in the cannabis industry. Currently, North America accounts for more than 95% of the global cannabis market, with the U.S. alone making up more than 90% of the North American and the global market. CLS Holdings USA Inc. (OTC: CLSH), (OTC: TDRYF), GB Sciences Inc. (OTC: GBLX), 22nd Century Group Inc. (NYSE: XXII), Vitality Biopharma Inc. (OTC: VBIO), CV Sciences Inc. (OTC: CVSI)
Steps to legalize cannabis are being taken around the world. Canada has officially legalized cannabis on a federal level earlier this June and Germany broke barriers in 2017 on medical-use products. "The end of marijuana prohibition is in sight and what that means for this market cannot be overstated," said Troy Dayton, CEO of the Arcview Group. "There are billions of dollars in institutional capital chomping at the bit to take advantage of this shift, but so far haven't found a major way in. This leaves a limited window for businesses to get a foothold and build value for liquidity events that might come sooner than any of us thought possible just a few months ago."
CLS Holdings USA Inc. (OTCQB: CLSH) recently this month announced breaking cannabis news that, "the closing of a USD 3 Million equity investment from Navy Capital Green International Ltd., a cannabis-focused institutional fund based in New York City. Under the terms of the agreement, Navy Capital and or select others may invest an additional USD 2 Million, with a 15% overallotment, for a total of up to USD 5,750,000.00 by August 15th, 2018.
Navy Capital has a vast network of relationships in the cannabis industry and is extremely interested in the CLS patented extraction and processing technology.
CLS now has all the funds in place to complete its build-out of its Las Vegas cultivation and production facility. In addition, CLS will utilize a portion of the proceeds to update its existing Oasis Cannabis dispensary location and improve its signage.
John Kaden, Managing Partner and Chief Investment Officer of Navy Capital, stated, 'We believe CLS Holdings possesses the premier vertically-integrated cannabis business in Nevada and when combined with the Company's opportunities in other major U.S. states and its cutting-edge scientific developments, we expect that CLS quickly will establish itself as one of the top companies in the emerging U.S. cannabis market.'
Jeff Binder, Chief Executive Officer of CLS, commented, 'We look forward to the added value that Navy Capital brings to CLS. It is a terrific corporate development to have an additional partner, of Navy Capital's stature, and we are excited by the expertise they bring to CLS.'
About Navy Capital - Navy Capital's research-oriented, fundamentally-driven investment process focuses on identifying attractive opportunities within the legal cannabis space. Navy Capital seeks to find the best in class businesses within key verticals of the global cannabis industry. Those verticals include Consumer, Healthcare, Technology, Industrials, and Agriculture. Navy Capital invests in 20-30 publicly traded and select private companies that will gain market share over time in their respective verticals. Businesses that have recurring revenue and management teams that have a large share of their net worth in the company and are deeply passionate about their culture and customers are the most attractive to it. For additional information, please visit: https://www.navycapital.com
About Oasis Cannabis (http://oasiscannabis.com ) - Oasis Cannabis has operated a cannabis dispensary in the Las Vegas market since dispensaries first opened in Nevada in 2015 and has been recognized as one of the top marijuana retailers in the state. Its location within walking distance to the Las Vegas Strip and Downtown Las Vegas in combination with its delivery service to residents allows it to efficiently serve both locals and tourists in the Las Vegas area. The company recently commenced wholesale offerings of cannabis in Nevada with the launch of its City Trees brand of cannabis concentrates and cannabis-infused products in August 2017. An expansion of its cultivation and production facility is currently underway and is expected to be completed during the fourth quarter of 2018."
GB Sciences Inc. (OTCQB: GBLX) is a diverse cannabis company, focused on standardized cultivation and production methods; as well as biopharmaceutical research and development. The Company's goal is creating safe, standardized, pharmaceutical-grade, cannabinoid therapies that target a variety of medical conditions. Recently, the Company reported revenue of USD 1,315,284 and gross profit of USD 734,719. This compares to revenue and gross profit of USD 69,100 and USD 54,099, respectively, for the same period the prior year. The total net loss for the three months that ended June 30th, 2018 was USD 5,167,339 which includes USD 2,625,512 of non-cash charges, 40.5% of total expenses. Net loss for the same period in the prior year was USD 3,082,209.
22nd Century Group Inc. (NYSE: XXII) is a plant biotechnology company focused on technology which allows it to increase or decrease the level of nicotine in tobacco plants and the level of cannabinoids in hemp/cannabis plants through genetic engineering and plant breeding. The Company's primary mission in hemp/cannabis is to develop proprietary hemp strains for important new medicines and agricultural crops. 22nd Century's wholly-owned subsidiary, Botanical Genetics LLC, entered into a worldwide license agreement with Anandia Laboratories Inc. Under the terms of the agreement, the Company was granted an exclusive sublicense in the United States and a co-exclusive sublicense in the remainder of the world, excluding Canada, to patents and patent applications relating to the cannabis plant that are required for the production of cannabinoids, the major active ingredients in the cannabis plant. The Anandia sublicense continues through the life of the last to expire patent, which is expected to be 2035.
Vitality Biopharma Inc. (OTCQB: VBIO) is dedicated to unlocking the power of cannabinoids for the treatment of serious neurological and inflammatory disorders. Recently, the Company announced that it has received approval from both the U.S. Drug Enforcement Administration (DEA) and the State of California Research Advisory Panel which permits the Company to continue development of its novel cannabinoid pharmaceutical prodrugs. Despite cannabis attaining legal status within the State of California and in many other states across the U.S. for medical and recreational purposes, pharmaceutical research and development continues to be closely regulated by the DEA and the U.S. Food and Drug Administration (FDA). Vitality initially worked with the DEA to ensure adequate on-site measures are in place to prevent diversion of Schedule I controlled substances, the most regulated tier of controlled substances in the US. In addition, the California Research Advisory Panel, a part of the California Attorney General's Office, also approved Vitality's cannabinoid pharmaceutical development activities.
CV Sciences Inc. (OTCQB: CVSI) operates two distinct business segments: a drug development division focused on developing and commercializing novel therapeutics utilizing synthetic CBD; and, a consumer product division focused on manufacturing, marketing and selling plant-based CBD products to a range of market sectors. Earlier this month, the Company announced its financial results for the second quarter ended June 30th, 2018. Sales for Q2 2018 were USD 12.3 Million, demonstrating the Company's continued organic expansion into all sales channels including the natural product retail, wholesale and direct-to-consumer channels. This is a 53% sequential quarterly increase from USD 8.1 Million reported for Q1 2018. The Company's natural product retail channel now includes 1,968 locations nationwide. CV Sciences plans to continue developing new sales channels and is encouraged by the strength of its branded products as evidenced by SPINS® Scan data, which positions the Company as the No. l selling hemp CBD product line in the natural products retail channel.
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