NEW YORK, Oct. 10, 2019 /PRNewswire/ -- Innovative cannabis cultivators have created thousands of unique strains through complex breeding processes and technical growing methods. Generally, the growing process of a cannabis plant heavily determines the cannabinoid content within the strain. Cannabinoids, like tetrahydrocannabinol (THC) or cannabidiol (CBD), are chemical substances within strains that connect to the cannabinoid receptors within the consumer's body and brain, causing a stimulating effect. To note, THC and CBD impart widely different effects on consumers because of their genetic makeup. Specifically, THC derives from the marijuana plant of the cannabis family, which is commonly known to cause mind-altering effects for its consumers. On the other hand, CBD stems from the hemp plant within the cannabis family and unlike THC, does not cause any psychoactive effects. Moreover, the growing process also determines the terpene development of cannabis plants, helping to dictate the flavor and aroma a strain gives off, similar to how an orange radiates its citrusy smell and taste. The most common terpene found in cannabis plants is myrcene, which is also found within mangoes. Myrcene is responsible for giving a strain's distinctive smell that most people acknowledge. Additionally, myrcene is known to provide several therapeutic benefits as well as anti-inflammatory properties. But perhaps most importantly, myrcene can also determine whether a strain is indica or sativa-dominant. Generally, plants that contain more than 0.5% myrcene are said to be indica. The common understanding is that sativa offers consumer cerebral-altering head highs, while indica strains provide more of a body-dominant effect. However, it is difficult to consistently classify many strains as either exclusively indica or sativa because of rampant crossbreeding. For instance, many cultivators tend to crossbreed sativa and indica strains to purposely select specific cannabinoids and terpenes within each strain and create a unique, desirable mix. In fact, breeders can mix and match between well over hundreds of different strains, creating an endless array of hybrid options. Overall, the ability to create hybrid strains from already pre-existing strains opens a whole new market for the broader cannabis industry. And according to data compiled by Ameri Research, the global legal marijuana market was valued at USD 14.3 Billion in 2016. By 2024, legal marijuana global sales are projected to reach USD 63.5 Billion while exhibiting a CAGR of 21.1% from 2017 to 2024. Smart Decision, Inc. (OTC: SDEC), Charlotte's Web Holdings, Inc. (OTC: CWBHF) (TSX: CWEB), Origin House (OTC: ORHOF) (CSE: OH), Liberty Health Sciences Inc. (OTC: LHSIF) (CSE: LHS), Medmen Enterprises Inc. (OTC: MMNFF) (CSE: MMEN)
While most regions are legalizing cannabis primarily for medical purposes, a number of countries have also decided to either decriminalize or legalize its recreational use as well. Specifically, some countries are looking to legalize recreational use for the economic benefits as well as a means to end the war on drugs in high profile regions. In particular, countries such as Mexico, the U.S., and New Zealand are potentially likely candidates to implement nation-wide legislation in the coming future. Nonetheless, Canada and Uruguay are currently the only two countries that have fully legalized cannabis. However, in an economic perspective, it was speculated that Americans spent roughly between USD 8.6 Billion and USD 10 Billion on legal marijuana in 2018, according to Marijuana Business Daily. And while the sales of cannabis are helping boost the overall industry, they also help bolster the economies of the states where the plant is legally sold. For instance, Washington has implemented a 37% sales tax on legal recreational cannabis, while California has implemented a 15% sales tax, while cultivators also pay a product tax per ounce. Notably, Washington collected the most taxes last year with an estimated USD 319 Million while California came in second with an estimated USD 300 Million in cannabis tax revenue, according to Niall McCarthy, Senior Data Journalist at Statista. Leafly said that the tax revenue is being used by states to support jobs in school, construction, drug abuse programs, and medical research. Moreover, the acceleration of the legal cannabis market created 300,000 jobs last year, bolstering the economy with higher tax revenues. "One of the biggest pro-legalization arguments was that states would be able to bring in a new source of tax revenue," said Liberty Vittert, Professor of Practice in Data Analytics at Washington University. "While there are still many unknowns surrounding the legalization of recreational marijuana, I believe that this shows that it will be a positive influence."
Smart Decision, Inc. (OTC: SDEC) announced earlier this week that, "it has begun to negotiate with several of the top CBD brands in the industry, with LOI's to be reported.
'Now that we are hard at work in the development stage of our CBD algorithm, we've been speaking to quite a few major CBD brands to enable them to be 'first out of the gate' in using our upcoming CBD algorithm with their own products. Not only will this make it easier for consumers to navigate their CBD products efficiently, but will also help clear up the everyday confusion of purchasing the right CBD for their needs.' said Adam Green, CEO of Smart Decision, Inc.
Eric Gutmann, Treasurer & Secretary of Smart Decision, Inc. further states that, 'We have the benefit of speaking to CBD companies that are truly industry pioneers. These are companies that have proven themselves to not only sell great CBD product, but be on the forefront of consumer education. At the end of the day, working with the top CBD companies, will only make our upcoming algorithm even more rewarding for the consumer.'
Smart Decision, Inc. will provide further details on brand partnerships in the coming months.
About Smart Decision Inc: Smart Decision Inc. has researched and is developing algorithms for the consumer and business LED Lighting and CBD markets. With their patent-pending "Smart Decision" algorithms, the confusion of selecting the right product(s), whether for LED or CBD, will be significantly reduced. Ultimately, Smart Decision Inc. believes that selecting the right product the first time, dramatically cuts down on product returns and creates of positive purchasing experience for the consumer."
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Charlotte's Web Holdings, Inc. (OTCQX: CWBHF) (TSX: CWEB) is the market leader in the production and distribution of innovative hemp-derived cannabidiol ("CBD") wellness products. Charlotte's Web Holdings, Inc. recently unveiled its newest CBD product line - hemp extract-infused CBD Gummies – made with whole-plant extract from its prized hemp genetics and featuring synergistic functional ingredients to support specific health related functions including everyday stress, sleep, and recovery from exercise or active lifestyles. The gummies feature Charlotte's Web whole-plant hemp extract made from the Company's proprietary hemp genetics that people know and trust. Charlotte's Web extracts contain a full-spectrum of 80+ naturally occurring phytocannabinoids plus terpenes and flavonoids. In addition, the three varieties of gummies are uniquely formulated and enhanced with functional herbs and botanical supplements that work in synergy to further support a targeted wellness focus. "Gummies are a very popular edible format as a result of convenience and measurable consumption," stated Kelsey Morrison, Associate Director of Product Development at Charlotte's Web. "This new delivery format from Charlotte's Web provides an easy bite-sized way to ingest full-spectrum hemp-extract CBD."
Origin House (OTCQX: ORHOF) (CSE: OH) is a growing cannabis brands and distribution company operating across key markets in the U.S. and Canada, with a strategic focus on becoming a preeminent global house of cannabis brands. CannaRoyalty Corp. d/b/a Origin House recently announced its financial results for the three and six-month periods ended June 30th, 2019. The following are financial highlights of Origin House's operating results for the three months ended June 30th, 2019, compared to the three months ended June 30th, 2018: Revenue was CAD 21.4 Million as compared to CAD 3.5 Million; Gross margin including gains on biological assets was CAD 4.4 Million as compared to CAD 0.8 Million; Operating expenses were CAD 23.5 Million as compared to CAD 6.3 Million; Loss from operations was CAD 19.0 Million as compared to CAD 5.5 Million. Marc Lustig, Chairman and Chief Executive Officer of Origin House commented, "I am very proud of the entire Origin House team for generating another quarter of record revenue growth, leveraging the California brand support and distribution platform we built over the past several years, to deliver results for shareholders. It speaks to the strength and maturity of our organization that we were able to increase our share of shelf in California while preparing to integrate with Cresco Labs. To that end, in this quarter, we successfully executed on the sale of Alternative Medical Enterprises LLC generating a 156% return on investment, our distribution division Continuum entered into a distribution agreement with Cresco and began distributing Cresco branded products across California, and we have made substantial progress on post-closing groundwork."
Liberty Health Sciences Inc. (OTCQX: LHSIF) (CSE: LHS) is the cannabis provider committed to providing a trusted, high quality cannabis experience based on our genuine care for all cannabis users and a focus on operational excellence from seed to sale. Liberty Health Sciences Inc. recently announced that it opened its 16th dispensary in the capital city of Tallahassee, Florida on June 19th after obtaining approval from the Florida Department of hth on June 14th, 2019. This is Liberty's first dispensary to open in Leon County. "On behalf of the entire Liberty team, it is truly an honor and a privilege to establish a dispensary in the state's capital," said Victor Mancebo, Interim Chief Executive Officer of Liberty. "As we continue to expand our Florida footprint, we are proud to provide patients access to our beautiful, modern, and educationally equipped dispensaries. We are also excited to continue to witness Liberty's growth and achievements in such a short time span, while at the same time executing on our solid growth strategy. Every day we strive to be the best at what we do and provide our patients with the best care and products on the market today."
Medmen Enterprises Inc. (OTCQX: MMNFF) (CSE: MMEN) a leading cannabis retailer with operations across the U.S., announced recently the opening of three new locations in the state of Florida: St. Petersburg, Key West and Pensacola. The Company now has four operational stores in Florida, with eight additional store openings in the state planned for the remainder of the calendar year. The Company is licensed for 35 retail locations in the state. Florida is the third most populous state in the U.S. with a robust medical cannabis program serving over 260,000 qualified patients as of August 30, 20191. In June, MedMen opened a location in West Palm Beach, its first in the state, where it has seen over 6,000 visits to date. "MedMen is proud to expand its retail footprint in Florida," said Adam Bierman, MedMen Co-Founder and CEO. "We look forward to getting to know our neighbors in St. Petersburg, Key West and Pensacola and are thrilled to offer MedMen's unparalleled quality in product and experience to these communities."
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