NEW YORK, February 9, 2018 /PRNewswire/ --
According to recent data provided by Arcview Market Research in partnership with BDS Analytics, the total economic output from legal cannabis will grow 150% from $16 billion in 2017 to $40 billion by 2021. The report indicates economic multiplier effects through which US consumer spending on legal cannabis in 2021 of $20.8 billion will generate $39.6 billion in overall economic impact, 414.000 jobs, and more than $4 billion in tax receipts. Arcview also estimates that the legalization of adult-use (recreational) sales in California, will lead to the creation of nearly 99,000 industry jobs in the state by 2021, about a third of all cannabis jobs nationwide. Cannabis Strategic Ventures (OTC: NUGS), Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE), Innovative Industrial Properties, Inc. (NYSE: IIPR), Kush Bottles, Inc. (OTC: KSHB), General Cannabis Corp. (OTC: CANN).
Starting January 1st 2018, the state of California has started legal sales of cannabis products for recreational use. Tom Adams, Editor-in-Chief at Arcview Market Research and Principal Analyst at BDS Analytics explained, "Our data shows positive indicators across the board for the legal cannabis industry, in North America and around the globe. The passage of the 2016 ballot initiatives and continued maturation of the existing Adult-use markets are the primary drivers of the growth this year. That's nothing compared to what we can expect in 2018 and beyond from Nevada's tourism, and California and Canada planning to launch Adult-use sales in 2018."
Cannabis Strategic Ventures (OTC: NUGS) earlier this week announced that it has signed a letter of intent to acquire Pure Applied Sciences and its brand PureOrganix, a line of organic and pure cannabis oils and related accessories. In a short amount of time, PureOrganix's brand showed exciting growth in 2017, capturing a lot of fanfare and praise for their products amongst the cannabis retail environment in Southern California.
Mr. Simon Yu, CEO of Cannabis Strategic commented, "The cannabis consumer is increasingly looking for purity in products and this is one of the reasons we are so interested in bringing Pure Applied Sciences into the NUGS fold. The Company thoroughly tests its products and fully conforms to the Current Good Manufacturing Practices (cGMP). They have also created processes to match FDA guidelines for Active Pharmaceuticals Products (API). This is the type of quality product we want within our business portfolio. We are still working out the final details of the transaction, but we passed the LOI stage and look forward to a successful conclusion."
The successful completion of this acquisition will help Cannabis Strategic Ventures launch a new division of consumer brands. The NUGS management team believes there is a huge opportunity in the industry to carve out and control specific industry niches and to create cannabis consumer brands.
Cannabis Strategic believes expansion into branded products presents significant opportunities for the Company to expand its business model. According to Tom Adams of BSD Analytics, the Cannabis retail market is expected to hit $11 billion in 2018 and $21 billion in 2021. While the Company continues to build its outsourced employment and staffing division, the Company plans to continue pursuing investment opportunities in the areas of real estate, cultivation, extraction, distribution, packaging, dispensary operations, and branded products.
Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE) dedicated to improving the lives of people with severe health conditions by developing cannabinoid medicines designed to meet the rigorous efficacy and safety standards established by global regulatory agencies. On January 3, 2018, the company announced that it will concentrate its focus on rare (meeting the US FDA designation of an orphan disease, affecting fewer than 200,000 people in the U.S.) and near-rare (affecting fewer than one million people in the U.S.) neurological and psychiatric disorders with high unmet medical needs. In 2018, the Company intends to develop ZYN002 in a pivotal Phase 2/3 program in Fragile X syndrome (FXS) and in Phase 2 programs in refractory epilepsies, including adult refractory focal epilepsy and developmental and epileptic encephalopathies (DEE) in pediatric and adolescent patients. Zynerba is currently developing ZYN002, the first and only patent-protected, pharmaceutically-produced CBD that is formulated as a permeation-enhanced gel for transdermal delivery.
Innovative Industrial Properties, Inc. (NYSE: IIPR) is the leading provider of creative real estate capital solutions to the medical-use cannabis industry. On December 18, 2017, the company announced that it closed on the previously announced acquisition of the property located at 5900 West Greenhouse Drive in Willcox, Arizona, which comprises approximately 358,000 square feet of greenhouse and industrial space. Concurrent with the closing of the purchase, the Company entered into a long-term, triple-net lease agreement with a subsidiary of The Pharm, which intends to continue to operate the property as medical-use cannabis cultivation and processing facility in accordance with Arizona medical-use cannabis regulations. The initial term of the lease is 15 years, with two options to extend the term for two additional five-year periods. The Pharm is one of the largest wholesalers of medical grade cannabis in the state of Arizona and serves 45 of Arizona's 104 retail dispensaries. The Pharm is focused on cultivating the highest quality, organically grown cannabis and cannabis-based derivative products tailored for the treatment of specified medical conditions.
Kush Bottles, Inc. (OTCQB: KSHB) is a dynamic sales platform that provides unique products and services for both businesses and consumers in the cannabis industry. Recently, the company announced it was selected by Future Farm Technologies Inc. to develop a suite of customized packaging and comprehensive compliance solutions to support its expansion into new territories. Future Farm is rapidly expanding its footprint in the cannabis and hemp sectors nationwide, with a focus on California, Massachusetts, Maine, Florida and Puerto Rico. Kush Bottles will support Future Farm's expansion and offer branded packaging solutions to ensure Future Farm maintains compliance with state-level regulations at all times.
General Cannabis Corp. (OTCQB: CANN) is the comprehensive national resource for the highest-quality service providers available to the regulated cannabis industry. Recently, the company announced that its client, Green Leaf Medical LLC, a leading grower and supplier of medical cannabis in Maryland, has successfully harvested its first crop and has passed all state-required laboratory tests. Now producing an estimated 500-600 pounds of high-quality medical marijuana on a monthly basis, Green Leaf is one of the leading fully approved suppliers in Maryland. Green Leaf also announced that it has begun the next phase of its expansion, increasing the size of its facility to approximately 50,000 square feet, a 67 percent increase from current capacity. The expanded grow house should be completed before the end of the year, raising production totals to nearly 1,000 pounds per month.
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