NEW YORK, February 2, 2017 /PRNewswire/ --
The supply of legal cannabis has increased quickly in the North America as legalization of cannabis for recreational use has also accelerated in the recent years. According to the recent report form Arcview Market Research, North American customers spent $53.3 billion in cannabis markets in 2016, with $6.7 billion coming from legal market and $46.6 billion from the black market. More and more cannabis consumers moved into the legal market from the hidden black market. In 2016, cannabis sales from black market accounted for about 87 percent of total sales, down from 90 percent in 2015, according to data from Arcview Market Research. Vinergy Resources Ltd. (OTC: VNNYF) (CSE: VIN.CN), American Cannabis Company Inc. (OTCQB: AMMJ), Terra Tech Corporation (OTCQX: TRTC), Medical Marijuana Inc. (OTC: MJNA), Researchers at PharmaCyte Biotech Inc. (OTCQB: PMCB)
Troy Dayton, CEO of Arcview Market Research, said in an interview with Business Insider earlier this month: "The enormous amount of existing, if illicit, consumer spending sets cannabis apart from most other major consumer-market investment opportunities throughout history…the cannabis industry doesn't need to create demand for a new product or innovation - it just needs to move demand for an already widely-popular product into legal channels."
Earlier today Vinergy Resources Ltd. (OTCQB: VNNYF) (CSE: VIN.CN) announced that. "in conjunction with its proposed acquisition of MJ Biopharma (announced December 14, 2016) is pleased to announce that it has signed a Letter of Intent (LOI) to acquire up to 51% of a European multinational plant breeding company ("Target"). The Target has audited annual sales in excess of CAD $14,000,000 and adjusted EBITDA of over CAD $2,000,000.
This development is a major step forward in establishing Vinergy as a leader in the global cannabis industry. The Target is a leading developer of plants and plant genetics and has been providing global customers with various commercial agriculture services for over 25 years. In 2016 they shipped over 35,000,000 plant products to the global marketplace. As part of the acquisition, Vinergy now has access to an extensive catalogue of over 2000 hemp and cannabis strains with the ability to supply those strains to customers globally.
Together with Vinergy, the Target has the capacity to expand rapidly into the hemp, cannabis and cannabinoid (CBD) sectors across Europe. "CBD is revolutionizing the global chronic pain management market and we have determined we can utilize our first mover advantage to take a leading market position in multiple countries," said Mr. Kent Deuters, CEO of MJ Biopharma. "Given the current marketplace dynamics, existing customer base and technology we now have access to; we plan to immediately roll out several new hemp and CBD initiatives. Additionally, it's important for our investors to know that we are diversified and not totally dependent on the cannabis space but have multiple complimentary revenue verticals."
"Our goal has always been to control every step of the production process from genetics, right through to extraction, ensuring only the highest quality extracts are used in the formulation of our strips, time release capsules and other products currently under development for the medical and recreational cannabis space," added Mr. Deuters. The Company will aim to work with large growers and provide access for them to a comprehensive catalogue of cannabis strains.
Terms and conditions of the pending acquisition were not disclosed. The transaction, which is subject to customary closing conditions, is expected to close in tranches, with the first being in Q1-2017."
American Cannabis Company Inc. (OTCQB: AMMJ) has secured two new clients in Pennsylvania. One client is applying for a retail dispensing license, and is retaining the Company to advise them in responding to state application materials, developing standard operating procedures for their proposed retail operations, and, design services for their proposed dispensary location. The second Pennsylvania client is applying for licensure in cannabis cultivation, cannabis product manufacturing, and retail dispensing. Terry Buffalo, the Company's Principal Executive Officer, commented: "We are very happy to welcome in these two new clients. Pennsylvania is stacking up to be a very competitive market, and we at ACC seek to provide our years of industry knowledge and expertise in effort to give our clients a competitive advantage. Our company is on the forefront of this industry, and we aim to continue in the rapid expansion of our brand."
Terra Tech Corporation (OTCQX: TRTC) is pioneering the future by assimilating the natural world with the unsurpassed technology and expertise to create sustainable, renewable solutions for cannabis cultivation, food production and agricultural research and development. The company's large-scale facilities allows growth in production in an efficient manner, without sacrificing quality. Its GrowOp Technology specializes in design and manufacture of advanced horticultural equipment and software for the automation and intelligent control of cultivation systems. GrowOp's systems offer the benefits of proven technical experience in the construction of environmentally-friendly facilities capable of producing high-grade cannabis.
Medical Marijuana Inc. (OTC: MJNA) subsidiary, HempMeds® Brasil, has begun84e8ne
to import its RSHO™ green label into Brazil. RSHO™ is a natural, full-spectrum CBD oil extracted from hemp plants grown in Northern Europe. The RSHO™ Green Label contains a high concentration of cannabinoids in their acidic form, Cannabidiolic Acid. This product is an integral "juice" or extract of the plant that HempMeds® grows. "We are proud to announce the import of RSHO™ Green Label to the people of Brazil," said Medical Marijuana, Inc. CEO, Dr. Stuart Titus. "The introduction of this product in Brazil signals a huge step forward for those in need of medicinal relief and those who continue to suffer at the hands of inadequate restorative aid. Our company has, and will, continue to be driven by the idea that the interests of people come before profit models. From athletes, to around-the-clock business owners, to children as well as the elderly, we see the potential for an overwhelmingly positive affect on the lives of millions within the country. I am firmly confident in the potential and future of our product within the country of Brazil."
Researchers at PharmaCyte Biotech Inc. (OTCQB: PMCB) investigated molecular indicators of spontaneous shrinking in children with pediatric low-grade gliomas and found that tumors that remained stable or had spontaneous shrinking after surgery had significantly higher levels of expression of the CNR1 gene at the time of diagnosis. They hypothesize that high expression levels of CNR1 make P-LGGs more susceptible to the anticancer effects of normally occurring substances in the body known as endocannabinoids. By extension, plant-derived phytocannabinoid molecules, such as tetrahydrocannabinol and cannabidiol, may provide similar effects through their known interaction with endocannabinoid receptors like CNR1.
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