PALM BEACH, Florida, Sept. 19, 2019 /PRNewswire/ -- Consumer demand is a powerful force. It can make or break a product or even an industry but the increasing consumer appetite for Cannabis - CBD infused products are showing that it can even stabilize the market even in the midst of a temporary downturn in the industry. In fact, The Green Fund recently stated: "Although the cannabis industry is currently in the midst of a temporary downturn, public interest in the market has never been greater." They say that the entry of high-level celebrities has helped raise consumer demand and drawn in many new investors alike. They say: "Celebrities like Snoop Dogg, Martha Stewart and Mike Tyson have begun lending their names to cannabis companies and investors are increasingly interested in securing a piece of the market for themselves. And it's not hard to see why, when a 2019 study conducted by Grand View Research predicted that the legal cannabis market could be worth as much as USD $66.3 billion by the end of 2025. However, while most cannabis users have historically gravitated towards smoking — either recreationally or for medicinal purposes — as their preferred way of ingesting the drug, consumer attitudes are beginning to change. Active cannabis companies in the markets this week include: Medicine Man Technologies, Inc. (OTCQX: MDCL), Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB), Curaleaf Holdings, Inc. (OTCQX: CURLF) (CSE: CURA), CV Sciences, Inc. (OTCQB: CVSI), OrganiGram Holdings Inc. (NASDAQ: OGI) (TSX: OGI).
The Green Fund article continued: "A huge shift is coming — which some pundits have begun referring to as "Legalization 2.0" — that will see a new wave of cannabis edibles, extracts and concentrates hit the market. Like many industries that are in an embryonic stage of development, the marijuana sector is still figuring out what products will be its future growth drivers. One sector of the industry that's beginning to take center stage is the Edibles Market — which encompasses CBD-infused foods and beverages — with revenue project to grow to $4.1 billion by 2022, according to a recent study published by ArcView Research.
Medicine Man Technologies, Inc. (OTCQX: MDCL) BREAKING NEWS: Medicine Man Technologies announced this week a culmination of its roll-up strategy today that would solidify the Company as one of the largest vertically integrated cannabis operators in North America upon closing of these pending acquisitions—and as a deeply experienced retailer and manufacturer of cannabis-infused products and concentrates driven by a leadership team that has unprecedented experience in regulated cannabis markets.
As previously disclosed, the Company — which also includes a new executive team with decades of experience in mergers & acquisitions, private equity, strategic operations and corporate finance—has entered into binding term sheets to acquire some of the best-selling cannabis brands in the legal Colorado cannabis industry, a combination of pending transactions that spans 12 cultivation facilities (including Los Sueños Farms LLC, one of North America's largest sustainable cannabis farms); seven proprietary extraction facilities (including Purplebee's); seven manufacturers of infused products (including Medically Correct, one of Colorado's largest edible manufacturers; licensed producer of incredibles in Colorado, and creators of new brands Quiq and Nove, set to launch this fall); 33 strategically located retail dispensaries (including five Starbuds-branded dispensaries in Colorado); and a state-of-the-art manufacturing / research and development lab (MedPharm's Colorado facility has the first and only active cannabis research license in the state).
These acquisitions are made possible by the passage of House Bill 19-1090, which was signed into law by Colorado Gov. Jared Polis on May 29, 2019, thus opening up Colorado's cannabis industry to outside investors and enabling increased investment by venture capitalists and private equity firms. Medicine Man Technologies Chief Executive Officer Andy Williams was a major driving force behind the Colorado cannabis industry's push for public company ownership legislation, and he also sat on the rulemaking committee after the legislation was passed.
"The natural progression of the modern cannabis industry is consolidation, and our vision for the future of Medicine Man Technologies has always been to bring together a group of experienced cannabis industry pioneers and the leading brands they've created — and we're proud to finally tell the world about this years-in-the-making strategy coming to fruition," said Andy Williams, Co-Founder and Chief Executive Officer of Medicine Man Technologies. "Not only are we banding together with other pioneers of the regulated cannabis market, but we're bringing together a dozen individually profitable companies into a single publicly traded outfit, and we believe we are strategically positioned to increase efficiencies and profit margin over time."
"Together we are creating Colorado's premier cannabis company," said Brian Ruden, Chief Executive Officer of Starbuds. "My colleague TJ Joudeh and I are proud to join forces with this team of Colorado cannabis pioneers, and we are confident that this network of industry-leading businesses across cultivation, extraction, production, retail and R&D business segments will become a formidable force in North American cannabis."
The Company has received a recent capital commitment up to $21 million from strategic partner Dye Capital, whose Managing Partner Justin Dye has 25 years of experience in private equity, general management, operations, strategy, corporate finance and M&A and was recently appointed Chairman of the Board of Medicine Man Technologies. Dye Capital Partner Leo Riera, who has more than 30 years of experience in investment banking and fund management and was the Country Head for Bankers Trust in Venezuela for over a decade, was also appointed to the Company's Board of Directors. Read this entire release and additional news for MDCL at: https://www.financialnewsmedia.com/news-mdcl/
Other recent developments in the biotech industry include:
Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB) has released its financial and operational results for the fourth quarter and fiscal year ended June 30, 2019. "In 2019 Aurora took its place as the global leader in cannabis production, research, innovation and international market development. We are executing on all our strategic priorities," said Terry Booth, chief executive officer. "Our best-in-class cultivation methods allow us to grow consistent, high-quality cannabis at scale. Because of this, we've delivered solid revenue growth in the fourth quarter. We are working to extend our reach in the U.S. markets. Our partnership with the [Ulitmate Fighting Championship] is a basis to explore [cannabidiol-from-hemp] and hemp food products. We are also exploring additional opportunities and leveraging our strategic adviser. We are focused on building a sustainable, high-margin business while providing patients and consumers with access to safe and reliable medicine."
Curaleaf Holdings, Inc. (CSE: CURA.CN) (OTCQX: CURLF) recently announced the opening of its seventh dispensary in Arizona at 217 N 83rd Avenue in the Phoenix metro area. Curaleaf Pavilions is a newly developed, flagship dispensary with close access to the I-10 Freeway. The dispensary is in the immediate vicinity of the nationally recognized Ak-Chin Pavilion, a popular outdoor amphitheater and concert stadium hosting nearly forty events a year.
"Maricopa is the fastest-growing county in the country," said Joe Lusardi, President and Chief Executive Officer of Curaleaf. "By opening the seventh Curaleaf dispensary in Arizona, we will be able to provide this expanding population with access to our high-quality cannabis products and exceptional customer service."
CV Sciences, Inc. (OTCQB: CVSI) recently announced they have partnered with professional mountain biker Cam McCaul to endorse industry-dominating PlusCBD Oil brand. McCaul, one of the leading riders on the freeride mountain biking scene for the past two decades, has won major global freeride events, including Crankworx Colorado, the Bearclaw Invitational, District Ride, and the Claymore Challenge. McCaul wins audiences over with his array of tricks inspired by motocross and BMX, snowboarding and skiing. He was also featured in numerous mountain bike movies made by some of the best filmmakers around, including Freeride Entertainment, Chainsaw Productions and Anthill Films. McCaul was an early leader in the sport of mountain bike slopestyle and has helped innovate both the sport and the riding style.
OrganiGram Holdings Inc. (TSX: OGI) (NASDAQ: OGI) recently said it has obtained approval from Health Canada for the licensing of 17 cultivation rooms under the Cannabis Regulations. The licensing of these 17 cultivation rooms is part of the company's Phase 4B expansion, and the licenses are valid until March 27, 2020. With the newly obtained licenses, the company's Moncton facility will have a target production capacity of 76,000kg annually.
"Once again, we are pleased to receive licensing approval consistent with our expectations and the streamlined process we have experienced to date. Our Phase 4 facility expansion remains on schedule to meet growing demand and further contribute to efficiencies of scale," Greg Engel, Organigram CEO said in a statement.
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