PALM BEACH, Florida, Sept. 11, 2019 /PRNewswire/ -- Recent advances in marijuana technology have changed the industry. From cultivation to consumption, technology is improving the end product and using new farming techniques to produce better strains. A recent article on the cannabis industry's evolution said: "The cannabis industry is on a tremendous upswing, with numbers expected to reach $31.4 billion by the year 2021 (this according to Grand View Research, a cannabis market research firm). One of the factors that is pushing the industry ever upwards is a surge in marijuana technology that's helping produce better crops, ensure the highest safety standards, connect consumers and cannabis businesses, and provide a variety of new options for consumption." Active companies in the industry making moves to ready that include: OrganiGram Holdings Inc. (NASDAQ: OGI) (TSX: OGI), GreenStar Biosciences Corp. (CSE: GSTR), The Yield Growth Corp. (OTCQB: BOSQF) (CSE: BOSS), The Supreme Cannabis Company, Inc. (OTCQX: SPRWF) (TSX: FIRE), MedMen Enterprises Inc. (OTCQX: MMNFF) (CSE: MMEN).
They continued saying: "The world of cannabis technology is fast-paced and ever-changing. As with all the other fields in the agriculture industry, cannabis cultivation has benefitted from the evolution of marijuana technology over the years. Marijuana growers are constantly finding new ways to grow more robust crops in less space and with less labor required."
GreenStar Biosciences Corp. (CSE:GSTR) BREAKING NEWS: GreenStar Biosciences, a growth-oriented technology and services company that provides real estate, financial, management and other support to licensed cannabis businesses in the United States, is pleased to announce that it has received positive results from an initial cultivation test involving the growth of approximately 2,500 plants using the proprietary patent-pending grow and cultivation technology of Progressive Herbs Inc. ("Progressive"). As previously announced, Capri PHGS LLC ("Capri"), a 50/50 joint venture between the Company and Progressive, holds the exclusive license to utilize Progressive's proprietary cultivation technology. The Company also received results from independent laboratory testing on the three strains used in the initial cultivation test, which demonstrated total cannabinoid percentages between 22.85% to 32.54%, depending on the strain tested.
Seeds from three different proprietary (by agreement) strains were planted inside a 200-square-foot room at Cowlitz County Cannabis Cultivation Inc.'s warehouse facilities in Washington State. The results of this initial cultivation test appear to validate several efficiencies and advantages of the proprietary cultivation technology compared to traditional greenhouse operations:
1) High total cannabinoid levels:
- Higher than normal total cannabinoid percentages of three strains tested (22.85%, 30.61% and 32.54% (compared to industry averages of between approximately 15-23% for similar strains).
- No use of pesticides, herbicides or fungicides.
- Free of heavy metals and contaminants.
2) Lower operational costs::
- Room used for the initial cultivation test was readied for seed planting in two weeks, using "off-the-shelf" environmental control products.
- Preliminary evidence that plants can be grown in a sub-optimal space with minimal, low-cost equipment.
- Lower electricity costs (initial testing showed production of approximately 3 grams per watt used compared to industry average of 1-1.5 grams per watt).
3) Faster harvest time:
- All plants were harvested in approximately 72 days, allowing for up to five harvest cycles per year (compared to an average of three to four per year for a traditional indoor grow operation).
Independent laboratory testing on random flower samples of the harvested plants was conducted by Praxis Laboratory ("Praxis"), an accredited Washington State testing facility. Read the results and this entire release at: https://www.financialnewsmedia.com/news-gstr/
Additional industry related developments from around the markets:
The Yield Growth Corp. (OTCQB: BOSQF) (CSE: BOSS) has licensed its patent-pending proprietary technology for extracting key chemical compounds from hemp to its wholly owned subsidiary Yield Botanicals to establish a CBD (cannabidiol) extraction business in the United States.
Yield Botanicals is well positioned to capitalize on substantial growth in the CBD market. Its licensed patent-pending technology shows early promise of significantly increasing the yield of valuable chemical compounds per kilogram of hemp root input during the extraction process, as tested by an independent lab. Yield Botanicals intends to use the same technology as part of the CBD extraction process to increase the yield of CBD from hemp. It also intends to conduct research and development using the technology to create a water-soluble CBD for beverages and to create a CBD nano-emulsion to enhance transdermal bioavailability of topical products. Yield Botanicals also intends to conduct further research regarding a non-toxic plant-based surfactant it has identified to enable creation of clean CBD products.
The Supreme Cannabis Company, Inc.'s (OTCQX: SPRWF) (TSX: FIRE) 7Acres has launched a proprietary strain: Jack Haze. As 7Acres' first sativa-dominant strain, Jack Haze delivers high tetrahydrocannabinol content with a terpinolene forward profile. Jack Haze is one of the few cultivars available with this dominant cannabis terpene, delivering a complex aroma with notes of citrus, pine and warm spice. True to its scent, Jack Haze offers a crisp, zesty, evergreen flavour. In October, 2018, 7Acres went to market with four core stains that were selected for their strong sensory characteristics. As it develops new genetics in house, 7Acres continues to prioritize subjective quality.
"Jack Haze's novel name pays homage to the well-known Jack Herer strain. This cultivar's expression possesses a unique haze profile with a classic, sweet sativa smell and strong visual appeal," commented John Fowler, chief advocacy officer and founder. "As we develop and introduce unique strains, we further differentiate 7Acres' high-end flower offering and continue to achieve premium pricing across Canada."
OrganiGram Holdings Inc. (NASDAQ: OGI) (TSX: OGI) has received Health Canada's approval for the licensing of 17 additional cultivation rooms under the Cannabis Regulations. The new cultivation rooms represent approximately 15,000 kilograms/year of increased target production capacity. These are the first 17 rooms licensed within the company's phase 4B expansion and now bring the company's Moncton facility to annualized licensed capacity to a target of 76,000 kg.
MedMen Enterprises Inc. (OTCQX: MMNFF) (CSE: MMEN) announces expiration of HSR waiting period for proposed acquisition of Pharmacann. The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, has expired with respect to Medmen Enterprises Inc.'s proposed acquisition of PharmaCann LLC. The expiration of the waiting period under the HSR Act satisfies one condition needed to close the transaction, which is expected to be completed by the end of calendar year 2019, subject to customary closing conditions.
"Today marks a monumental day for the cannabis industry," said Adam Bierman, Medmen co-founder and chief executive officer. "We hope this will pave the way for other companies in what has become a highly acquisitive and dynamic industry."
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