NEW YORK, September 26, 2018 /PRNewswire/ --
According to a report from Hexa Research, the U.S. medical cannabis market is expected to grow from USD 5.44 Billion to reach USD 19.48 Billion by 2024. The market is growing rapidly, owing to the rising demand for medical cannabis, which is now legal in 39 U.S. states. Medical cannabis is now used in the treatment of various maladies, such as cancer, arthritis, epilepsy, nausea, pain Alzheimer's disease, anorexia and multiple sclerosis, while chronic pain segment dominated the market in 2016. Based on consumption, the market is segmented into solid edibles, inhalation, liquid edibles and topical. The cannabis-infused solid edibles segment is expected to grow at a CAGR of 17.8%, while liquid edibles will see a faster growth rate during the forecast years. Koios Beverage Corp. (OTC: KBEVF), The Supreme Cannabis Company (OTC: SPRWF), Cannabis Sativa, Inc. (OTC: CBDS), General Cannabis Corp. (OTC: CANN), Organigram Holdings Inc. (OTC: OGRMF)
Another report from Technavio indicated that the global cannabis-infused edible products market is expected to grow at a CAGR of over 25% between 2018 and 2022. Growing social acceptance of cannabis is considered as the main factor that drives the market growth. A senior analyst at Technavio for research said, "The incorporation of new techniques in cannabis cultivation has resulted in the higher growth rate of the global legal cannabis market. The use of these advanced techniques has led to improved quality of the marijuana-derived CBD-oil products, which augurs well for the growth of the market."
Koios Beverage Corp. (OTC: KBEVF) is also listed on the Canadian Stock Exchange under (CSE: KBEV). Just earlier today the company announced that it has, "the world's first cannabis infused nootropic beverage is scheduled for release in November. The new product will be a collaboration with the Company's partner Keef Brands, a division of CanCore Concepts Inc. (CanCore), and Koios' wholly owned subsidiary Cannavated Beverage Corp. Cannavated was formed specifically to license the nootropic formulas to other companies working in the area of cannabis-infused beverages.
Keef Brands will manufacture, market and sell a line of beverages that are not only infused with THC, but also contain the nootropic supplements from the Koios line of brain enhancing functional beverages. The resulting product will be the first in the world to combine cannabis infusion with nootropic supplements that enhance the consumer's mental acuity.
Keef Brands has the exclusive rights to the Cannavated nootropic formula for Colorado, with the option of expanding the licensing agreement throughout the U.S., provided it complies with all rules and regulations in the markets where cannabis has been made legal.
"We first announced this joint development project in early September, and we're very pleased to be able to announce this ground-breaking cannabis beverage will be available in Colorado in November," said Koios Chief Executive Officer Chris Miller. "This is also the first product we are releasing through our partnership with Keef Brands, one of the world leaders in the cannabis beverage industry."
Gross profits from sales - after calculating the overall Cost of Goods Sold (COGS) - will be split evenly between Cannavated and Keef Brands. The non-carbonated cannabis beverage will be high in cannabidiol - better known as CBD - but will also contain THC, which is the psychoactive ingredient in the cannabis plant. This initial product will contain four parts CBD to one part THC, with 20 milligrams of THC in a 12-ounce can.
Cannavated was formed as a separate company that licenses its proprietary nootropic formulations to companies that independently research and produce cannabis-infused beverages. Keef Brands, through its network of licensed manufacturing partners, is among the world's largest producers and distributors of cannabis beverages, and is the leading producer in Colorado by volume, where both companies are located.
"This partnership allows us to introduce a very exciting and very unique product to the cannabis market," said Keef Brands Chief Operating Officer Travis Tharp. "Cannavated is a market leader in the area of mind-enhancing, nootropic beverages, and we feel combining our areas of expertise has allowed us to provide our customers and distributors with a product no other producer can currently match."
Initial distribution of the new cannabis beverage will be limited to the State of Colorado, but will expand to other jurisdictions in the US once the two companies can be assured production will meet demand."
The Supreme Cannabis Company (OTCQX: SPRWF) is a Canadian publicly traded company committed to providing premium brands and products that proudly reflect its consumers, people and uniquely innovative culture. The Supreme Cannabis Company, Inc. recently announced that the Company's wholly-owned subsidiary, 7ACRES, has entered into a supply agreement to provide dried cannabis to Tilray Canada Ltd., a subsidiary of Tilray Inc., a global leader in cannabis research, cultivation, processing and distribution currently serving tens of thousands of patients in 11 countries spanning 5 continents. The value of this initial supply agreement is estimated to be in excess of CAD 2 Million. Dried cannabis provided to Tilray by 7ACRES will be used primarily to support medical cannabis patients in Canada, including Tilray's robust patient population. "We are pleased to enter into this agreement with Tilray. As one of Canada's first licensed producers, Tilray has been an industry leader in patient services and quality assurance. We believe this agreement demonstrates the quality of the 7ACRES dried flower, and the infrastructure, management and systems that support our brand positioning," said John Fowler, Chief Executive Officer of Supreme Cannabis.
Cannabis Sativa, Inc. (OTCQB: CBDS) is engaged in the licensing of cannabis-related intellectual property, marketing and branding for cannabis-based products and services, operation of cannabis-related technology services, and ancillary business activities. Cannabis Sativa, Inc. subsidiary PrestoDoctor recently announced that it is currently providing online medical marijuana recommendations to Pennsylvania residents via its HIPPA compliant trusted online recommendation platform https://Prestodoctor.Com/ , offering residents a convenient online option when it comes to getting their Pennsylvania Medical Marijuana Card. "Easier access to alternative care is the driving mission at Presto Doctor, and has made PrestoDoctor the #1 rated online medical marijuana recommendation platform," said Chief Executive Officer Kyle Powers, "We are committed to serve patients in Pennsylvania with the integrity we have displayed in California, Nevada and New York."
General Cannabis Corp. (OTCQX: CANN) is the comprehensive national resource for the highest-quality service providers available to the regulated cannabis industry. As the legal cannabis industry grows throughout the United States, the industry's leading service provider, General Cannabis Corp. recently announced it is expanding its presence on the East Coast with the opening of a New York office. The New York office provides General Cannabis a strategic location to better serve existing East Coast clients while also attracting new talent and partnerships as the cannabis market in the eastern U.S. continues to develop. Further, the opening of the New York office provides a hub for current clients looking for East Coast expansion opportunities. "Given our growing list of East Coast clients and the steps that states like Massachusetts and New Jersey have taken toward launching adult-use sales, this is the ideal time for General Cannabis to further invest and establish itself in the region," said Michael Feinsod, Executive Chairman of the Board for General Cannabis. "The growth potential for the market in this region is unparalleled. An East Coast office is perfectly suited to cater to this territory as General Cannabis continues to expand its presence nationwide. We plan on expanding our security, operations and marketing segments aggressively throughout the East Coast. In addition, we will be utilizing this office to expand and enhance our corporate, marketing and mergers and acquisitions teams."
Organigram Holdings Inc. (OTCQX: OGRMF) is a TSX Venture Exchange listed company whose wholly owned subsidiary, Organigram Inc., is a licensed producer of medical marijuana in Canada. Recently, the Company and Canopy Growth Corporation announced that following Organigram's approval as a cannabis supplier in the Province of Newfoundland and Labrador, the Companies have signed a two-year supply and distribution agreement. Organigram will become a key supplier of branded, finished cannabis products to Canopy Growth's Tweed-branded retail operations in Newfoundland and Labrador once adult recreational cannabis is legalized in Canada on October 17th, 2018. Canopy Growth will also perform a B2B sales function for Organigram by marketing its portfolio to other licensed retail outlets in Newfoundland and Labrador. Currently, Organigram also has supply agreements/memorandums of understanding with the provinces of New Brunswick, Nova Scotia, Prince Edward Island, Alberta, Manitoba and Ontario.
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