Data Projects What Cannabis Market Could Look Like Under Full Federal Legalization

NEW YORK, March 16, 2018 /PRNewswire/ --

According to a new report by New Frontier Data, under full federal legalization, the cannabis market has the potential to create cumulatively $105.6 billion in federal tax revenue and 1 million new jobs by 2025. Assuming legalization occurred in all 50 states today, the data from the report projects that there would be an excess of 654,000 jobs, and jobs would increase to 1 million by 2025. The difference between the current structure and the theoretical model is a $61.6 billion increase in federal tax revenues. The report also indicates that under full legalization, there would be more legal businesses entering the market, more consumers participating in the legal market, and more employees on official payrolls, resulting in $3.3 billion in payroll taxes. By 2025, payroll deductions would increase to $5.3 billion. Pivot Pharmaceuticals Inc. (OTC: PVOTF), Innovative Industrial Properties, Inc. (NYSE: IIPR), Aurora Cannabis Inc. (OTC: ACBFF), MedReleaf Corp. (OTC: MEDFF), AXIM Biotechnologies, Inc. (OTC: AXIM)

New Frontier Data CEO Giadha Aguirre De Carcer explained, "Under the new business tax rate of 21 percent, the Trump tax cuts will come as welcome relief to cannabis business owners who already face tax hurdles because of 280E. Lower tax rates may provide cannabis business owners greater capacity to grow and create more jobs. New Frontier Data projects increased domestic and international expansion of new legal cannabis markets and $106 billion in tax revenue over an eight-year period in the U.S."

Pivot Pharmaceuticals Inc. (OTCQB: PVOTF) also listed on the Canadian Stock Exchange under the Ticker 'PVOT'. On March 12^th the company announced breaking news that, "the Company has retained Cannabis Compliance Inc. ("CCI") to submit an application to Health Canada for a Dealer's License ("Dealer's License" or "DL") under the Controlled Drugs and Substances Act ("CDSA") and the Narcotic Control Regulations enacted thereunder on behalf of Agro-Biotech Inc. ("Agro-Biotech"). As previously announced, Pivot has entered into a letter of intent for the proposed acquisition of Agro-Biotech (the "Proposed Acquisition"). For further details on the Proposed Acquisition, please refer to the Company's news release dated February 22, 2018.

Agro-Biotech operates a fully licensed, purpose-built, indoor hydroponic cannabis production facility located in Saint-Eustache, Québec, 40 kilometres north of Montréal. Phase I is now complete and Phase II and Phase III are expected to be completed by the end of September 2018, resulting in a total grow area of 75,000 sq. ft., capable of producing a cumulative 10,000 kg per year. Agro-Biotech received its Producer's License from Health Canada's Office of Medical Cannabis on January 12, 2018. Upon the anticipated issuance of a Sales License from Health Canada initial revenue is expected in Q3 2018. Upon completion of the Proposed Acquisition, the Dealer's License will enable Pivot, through Agro-Biotech, to conduct research and development ("R&D") and store cannabis derivatives that are not currently covered under the Access to Cannabis for Medical Purposes Regulations ("ACMPR"). A Dealer's License and export permit would position the Company to export cannabis oils and concentrates to available international markets, as well as to process natural health products. In addition, a DL will also allow the Company to prepare authorized manipulations, formulations, dosage forms, strengths or package sizes of cannabis expanding possible research and product innovation opportunities.

The facility design includes extraction and purification areas expected to be fully operational following the successful closing of the Proposed Acquisition and receipt by Agro-Biotech of a Dealer's License from Health Canada. Agro-Biotech is one of only six Licensed Producers in Québec, Canada's second largest province with a population of over 8.4 million people. Owners of 75 high quality cannabis strains, including high expressors of CBD, Agro-Biotech's genetics will enable it to bring unique, differentiated cannabis products to market.

Pivot is also pleased to announce that Dr. Wolfgang Renz has been appointed as the Company's Chief Medical Officer. Dr. Renz previously served as Corporate Vice President, Healthcare Innovation, at Boehringer Ingelheim. He also serves as Adjunct Professor of Surgery at McGill University's Faculty of Medicine in Montreal. Dr. Renz holds a MD and PhD from Freiburg University and is board certified in Germany in Emergency Medicine. "I am excited to lead the development of all medical and therapeutic activities from Pivot's impressive bio-cannabis pipeline. There is tremendous value and opportunity based on the numerous product formulation and dosing technologies Pivot has licensed or acquired over the past year. The technologies have demonstrated their usefulness in the pharmaceutical markets and delivering cannabinoids with these platforms will be disruptive."

Dr. Patrick Frankham, Pivot's CEO states "The addition of a Dealer's License for the Agro-Biotech facility will allow the Company to exercise complete control of our finished products, from seed to derivatives. With access to 10,000 kg of cannabis annually, the ability to extract, purify and formulate in house, Pivot will provide the most exceptional quality, dosable products available on the market. This vertical integration makes Pivot a differentiated player in the cannabis industry." Dr. Frankham also commented that "the appointment of Dr. Renz provides Pivot with an experienced pharmaceutical executive who will accelerate the Company's technological, marketing, sales and distribution partnerships in the European Union. We continue to aggressively execute on our business strategy.""

Innovative Industrial Properties, Inc. (NYSE: IIPR) is the leading provider of creative real estate capital solutions to the medical-use cannabis industry. The company targets medical-use cannabis facilities for acquisition, including sale-leaseback transactions, with tenants that are licensed growers under long-term, triple-net leases. 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.  A subsidiary of The Pharm, LLC, the tenant at the property, is also expected to complete tenant improvements for the building, for which the Company has agreed to provide reimbursement of up to $3.0 million. Assuming full reimbursement for the tenant improvements, the Company's total investment in the property will be $18.0 million. The Pharm is one of the largest wholesalers of medical-use cannabis in the state of Arizona. 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.

Aurora Cannabis Inc. (OTCQB: ACBFF) is one of the world`s largest and fastest growing cannabis companies. Aurora has created a growing constellation of subsidiaries and strategic partnerships that provide differentiation in terms of geographic reach, production, technology, product offering, and execution. Recently, the company and PreveCeutical Medical Inc. announced the grant of three permits by the Australian Government, Department of Health, for the importation of cannabis into Australia for research purposes. The Permits were granted to the Pharmacy Australia Centre of Excellence at the University of Queensland and allow PACE to import shipments of cannabis plant material for research purposes. Aurora, in turn, has received the required Canadian permits to export the cannabis to PACE. The cannabis will be shipped from Canada by Aurora and used for PreveCeutical's soluble gel drug delivery research program, which is being conducted by PreveCeutical's research partner UniQuest Pty Inc. and led by PreveCeutical's Chief Research Officer, Dr. Harendra Parekh. The Program aims to develop a system that will increase the bioavailability of drugs by using a nose-to-brain delivery system.

MedReleaf Corp. (OTC: MEDFF) is an R&D-driven company dedicated to innovation, operational excellence and the production of top-quality cannabis. On March 6, 2018, the company announced it has entered into an exclusive licencing agreement with Woodstock Cannabis Company for use of the iconic Woodstock brand in the Canadian cannabis market. Under the terms of the agreement, MedReleaf will grow and sell a variety of strains and formats under the Woodstock banner, expanding the offering of products as regulations allow. The Woodstock Cannabis Company was formed by Woodstock Ventures to extend its iconic brand to the cannabis market.  Its goal is to bring to market quality products that embody the values of Woodstock and which are produced in an environmentally sustainable way.

AXIM Biotechnologies, Inc. (OTCQB: AXIM) focuses on the research, development and production of cannabinoid-based pharmaceutical, nutraceutical and cosmetic products. On February 27, 2018, the company announced the first-ever successful execution of proprietary current good manufacturing practices 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 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.

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