NEW YORK, March 14, 2018 /PRNewswire/ -- According to a report by Energias Market Research, the global medical cannabis market is expected to grow significantly from USD 8.28 billion in 2017 to USD 28.07 billion in 2024, at a CAGR of 19.1% from 2018 to 2024. Factors driving the growth of the medical cannabis market include growing recognition of medical benefits, increasing demand for cannabis in the treatment of various diseases, and growing number of research and development activities. Sales of recreational cannabis also expected to increase, as California's new recreational cannabis laws went into effect on January 1st, 2018. While California is the largest market, Canada is projected to show strong sales as well. Deloitte's report estimates the Canadian market will be worth at least $5B in sales in 2018. Invictus MD Strategies Corp. (OTC: IVITF), Cara Therapeutics Inc (NASDAQ: CARA), AXIM Biotechnologies, Inc. (OTC: AXIM), Namaste Technologies Inc. (OTC: NXTTF), MYM Nutraceuticals Inc. (OTC: MYMMF)
According to CBC, Canada is one of only two countries, together with the Netherlands - that currently exports cannabis, allowing firms in Canada to take instant benefit of recent medical cannabis legalizations in more than 20 countries. CBC reported that the, "offerings in today's Canada medical marijuana market differ little from those used recreationally - the smokable plant and, more recently, oil extracts. More than 70 companies have licenses from the federal drug regulator, Health Canada, to cultivate, produce and sell medical marijuana, with more than half those licenses granted in 2017 or 2018."
Invictus MD Strategies Corp. (OTC: IVITF) is also listed on the TSX Venture Exchange under the ticker symbol (TSX-V: IMH). Just earlier today the company announced breaking news that, "that rock 'n' roll legend and marketing and branding innovator Gene Simmons, co-founder of KISS: America's #1 Gold Record Award Winning Group of all time, has joined Invictus as Chief Evangelist Officer.
Music Legend & Media Mogul Gene Simmons (CNW Group/Invictus MD Strategies)
The partnership involves Simmons' leadership in a variety of capacities focused on assisting the Company with its public awareness strategy and eventual branding strategy for the recreational market that is anticipated to be legal in Canada in 2018. His responsibilities will include providing marketing counsel, serving as a spokesperson in the media, public appearances and participation in the Company's annual general meeting and investor meetings, among others.
"Gene Simmons is a branding and merchandising genius, who not only created one of the most iconic bands of all time, but has spent decades building successful brands internationally in various industries," said Dan Kriznic, Chairman and CEO of Invictus. "Gene will lead marketing initiatives that will help spread the positive messages that dwell at the heart of Invictus in accordance with the strict regulations of Health Canada's Access to Cannabis for Medical Purposes Regulations (ACMPR), the Food and Drugs Act (FDA) and the Narcotic Control Regulations (NCR)" said Kriznic.
"Values and family are very important to me, and when I first connected with Dan at Invictus, I understood immediately that we enjoyed a shared passion for these key life foundations," said Gene. "Instead of launching straight into business, we talked about the things that matter the most."
While Simmons has achieved extraordinary success beyond the concert stage and recording studio, his KISS-related achievements are astounding in themselves with the band having sold more than 100 million albums; earning more American Gold Record Awards than any other group, in all categories (RIAA); building a merchandising/licensing empire with over 2,500 licenses including everything from t-shirts and comic books, to pinball machines, credit cards and lunchboxes; and breaking box office records set by The Beatles and Elvis. Beyond KISS, Simmons' celebrity television show, Gene Simmons Family Jewels, aired for eight years and 167 episodes, and was viewed in 84 countries — one of the longest-running celebrity reality TV shows in history. He discovered Van Halen, managed the recording career of Liza Minnelli, and is a founding partner in the global restaurant chain Rock & Brews.
Simmons' achievements in marketing encouraged McClaren to hire him as their brand ambassador and Indycar engaged him to do their marketing. Simmons has a record label Simmons Records, is a published author with Simmons Books about to publish his latest book "27", on the heels of his two previous best sellers Me, Inc., and On Power; and Simmons Comics continues to grow. In addition, he published his own magazine, Tongue (Sterling-McFadden) and is about to launch his newest magazine, "iMOGU" focusing on entrepreneurs that matter. Simmons created and executive produced the TV shows My Dad The Rock Star, Mr. Romance, and others. He has also acted in numerous motion pictures and television shows for more than three decades and is currently co-producing a slate of motion pictures with Arclight Films.
Simmons is a partner in the New York-based Family Office of Highmore Group Advisors, he has rang the bell at the New York Stock Exchange and the Toronto Stock Exchange, and was keynote speaker at NASDAQ. Gene Simmons also had a United States Postage Stamp. Among his latest ventures, Simmons is launching a premium soda line, MoneyBag™ Sodas, across all 7-Eleven stores; his 50th anniversary rock tour, Gene Simmons: The Vault Experience, continues with stops around the world; and, he will soon launch MoneyBag™ FootGear."…"
Cara Therapeutics Inc (NASDAQ: CARA) is developing lead molecules that selectively modulate peripheral CB receptors without targeting CNS cannabinoid receptors. Peripheral CB receptor modulators will be initially developed as a novel therapeutic approach for neuropathic pain, a condition currently without consistently effective therapies. Cara's most advanced CB compound, CR701, is in preclinical development. CR701 has been evaluated in a rodent model of neuropathic pain that produces both hyperalgesia (sensitization of nerve endings to painful stimuli) and allodynia (painful perception of innocuous stimuli) comparable to human conditions.
AXIM Biotechnologies, Inc. (OTCQB: AXIM) focuses on the research, development and production of cannabinoid-based pharmaceutical, nutraceutical and cosmetic products. In February, the company announced the first-ever successful execution of proprietary current good manufacturing practices ("cGMP") methods to extract and microencapsulate cannabinoid molecules for a variety of pharmaceutical delivery formats from cGMP-produced medicinal cannabis. The breakthrough makes AXIM the only Company in the world with the ability to harness the proprietary procedure and provide Active Pharmaceutical Ingredients ("APIs") of such purity from naturally extracted cGMP sources. AXIM's new methods are unprecedented in terms of the nature of the process – which utilizes cGMP standards employed from the initial growing of the cannabis plants through extraction and manufacturing – leading to the highest of quality standards for APIs being met. AXIM's newly developed microencapsulation method is then applied to the cannabinoids, protecting those from oxidation and degradation, while preserving its effectiveness. Finally, AXIM's microencapsulated cannabinoids are manufactured into pharmaceutical products within different delivery formats.
Namaste Technologies Inc. (OTCQB: NXTTF) is the largest online retailer for medical cannabis delivery systems globally. Recently, the company announced that it has signed a non-binding LOI with Inolife R&D Inc., whereby Namaste and Inolife will negotiate the terms of a definitive agreement to initiate a research study to evaluate applications for Inolife's proprietary needle-free injectors in the medical cannabis industry. Under the terms of the LOI and proposed Agreement, Namaste will hold exclusive rights to research and distribute Inolife's needle-free injection technologies for applications in the cannabis industry. Namaste will also participate in Inolife's anticipated private placement by acquiring up to 10% of the shares issued under the offering. The LOI and proposed Agreement represent a strategic initiative for Namaste's continued effort to offer innovative products to the medical cannabis market.
MYM Nutraceuticals Inc. (OTCQB: MYMMF) is an innovative company focused on acquiring Health Canada licenses to produce and sell high-end organic medicinal cannabis supplements and topical products. Recently, the company announced the Municipality of Weedon, QC has approved the building permit to begin construction on the 1.5 million sqft greenhouse at the Weedon QC production facility. MYM has received approval and commenced Phase One construction of the Weedonproduction facility. The projected date of completion for Phase One construction is the end of Q3, 2018. Phase One of the Weedon project will consist of building 300,000 sqft of greenhouse space for growing medical cannabis and 20,000 sqft for processing and manufacturing medical cannabis products. Phase One will be capable of producing 30,000 kgs annually. The Weedon facility is scheduled to be completed by the end of 2020. Complete build out will see greenhouse production space of 1.5 million sqft, capable of producing an estimated 150,000 kgs of cannabis.
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