Data Projects the Canadian Cannabis Market to be Worth Over USD 5 Billion in 2018

NEW YORK, August 30, 2018 /PRNewswire/ --

According to the data compiled by Energias Market Research, the global medical cannabis market is expected to increase from USD 8.28 Billion in 2017 to USD 28.07 Billion in 2024 while at a CAGR of 19.1% from 2018 to 2024. There are numerous key aspects that are expected to help drive the growth of the industry, including growing recognition of medicinal benefits, stronger demand for cannabis in the treatment of various medical conditions, as well as a growing number of R&D investments. Sales of cannabis products for recreational use are also projected to grow as a result of California's new cannabis laws which went into effect earlier this year. While the State is the largest market, Canada will show strong sales as well, as a report by Deloitte projects the Canadian market will be worth at least USD 5 Billion in sales in 2018. Crop Infrastructure Corp. (OTC: CRXPF), GB Sciences, Inc. (OTC: GBLX), Freedom Leaf, Inc. (OTC: FRLF), PotNetwork Holdings, Inc. (OTC: POTN), United Cannabis Corporation (OTC: CNAB)

The recent advancements from both the political and technological standpoints, have helped push the market in new directions. Editor-in-Chief at Arcview Market Research and Principal Analyst at BDS Analytics, Tom Adams, 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."

Crop Infrastructure Corp. (OTC: CRXPF) is also listed on the Canadian Securities Exchange under the ticker (CSE: CROP). Earlier this week, the Company announced that, "its tenant has now commenced commercial production at Wheeler Park. The facility is designed for perpetual harvest of cannabis at 'The Park', its state-of-the-art facility in Washington State. Crop's licensed tenant grower has now advised the Company that it expects its first harvest of cannabis within weeks and it will be at full-scale production in September 2018. The perpetual harvest system utilizes cannabis strains with a 55-60 day flower cycle. Every other day the tenant grower removes three trays of flowered plants from the finishing end and harvests the plants, while simultaneously loading three new trays with plants to begin the flowering process.

The Park cannabis greenhouse is 35,000 sq. ft. and sits on approximately nine acres of land. The facility recently underwent a complete retro-fit for hydroponic automation and the addition of 500 Gavita HPS grow lights. The greenhouse facility has five flowering bays that are designed to yield, at full scale production, approximately 12,000 pounds of high quality cannabis annually (~1,000 pounds per month). The current operating cost is USD 50,000 per month."

CROP Infrastructure Director and CEO, Michael Yorke, stated, "With harvests now underway in California along with our Washington tenant weeks away from its first harvest, the Company is now at a turning point. The Company expects four of its six tenant licensees to harvest at its farms, with each set to begin cash flowing in Q4 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. Recently, GB Sciences and the LSU Agricultural Center, have commenced operation in the environmentally controlled grow pod. The first plants in production were developed through tissue culture propagation to ensure genetic consistency. Once operating at full capacity, the facility will have plants at staggered stages of growth, enabling a continuous harvesting cycle that will provide the raw material for Louisiana's therapeutic cannabis program. Final formulations are expected to be available in November of this year. Once construction of the production facility is complete, the facility will house a 5,000 sq. ft., state of the art laboratory operated by LSU AgCenter researchers.

Freedom Leaf, Inc. (OTCQB: FRLF) is a group of diversified, international, vertically-integrated hemp businesses concentrating on health, wellness, and education as well as cannabis media companies. Earlier this month, the Company announced that it has consummated a 100% acquisition of Tierra Science Global, LLC, a company specializing in health supplements supporting peak bio-energy levels in humans which are currently distributed via highly motivated direct sales teams and well-established affiliate programs in Europe, Asia and the United States. Tierra Science Global is led by founding managers, Mark Rolando Rosales and Marc Viterillo. Rosales has over 25 years of success in direct sales and network marketing, while Viterillo is a software development expert with extensive experience in online sales. Freedom Leaf will take the brand and potential revenues one significant step further by manufacturing a number of unique Full Spectrum Hemp/CBD oil products.

PotNetwork Holdings, Inc. (OTC: POTN) is a publicly traded company that acts as a holding company for its subsidiaries, First Capital Venture Co., the owner of Diamond CBD, Inc., the maker of Diamond CBD oils. On August 15^th, 2018, the Company announced that its six-month operating results have been posted in the form of unaudited financial statement and a supplemental disclosure. With revenues of USD 12,044,028, the Company has demonstrated the result of its continuously strengthening momentum. The year-to-date results are more than twice its 6-month revenues in 2017 of USD 5,077,625, an increase of 137% year-over-year. Diamond CBD focuses on the research, development, and multinational marketing of premium hemp extracts that contain a broad range of cannabinoids and natural hemp derivatives. Diamond CBD's team consists of hemp industry pioneers and natural product experts, chemists, doctors and scientists, dedicated to producing the finest and purest cannabidiol (CBD) oils. 

United Cannabis Corporation (OTCQB: CNAB) is a biotechnology company dedicated to the development of phyto-therapeutic based products supported by patented technologies for the pharmaceutical, medical, and industrial markets. Earlier this month, the Company announced that it has initiated clinical trials on its Prana Bio Nutrient Medicinals P1 Capsules for the treatment of chronic pain at Jamaica's University of the West Indies. The study, titled, "An Open Label, Phase 1, 2-Way crossover study evaluating the pharmacokinetics of Prana P1 THC activated capsules," is be conducted in conjunction with Cannabinoid Research & Development ("CRD"), the Company's Jamaican subsidiary, at the Centre For Cannabis Research at the University's Mona Campus. Cannabinoid Research & Development (CRD), a subsidiary of United Cannabis, is a Jamaican based corporation pursuing local licensing to advance the use of medical cannabis therapies through biomedical research and development for the nutraceutical industry.

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