NEW YORK, September 5, 2018 /PRNewswire/ --
Data compiled by Mordor Intelligence indicates that the global cannabis market was valued at USD 7.7 Billion in 2016 and is expected to reach USD 65 Billion by 2023 while registering a healthy CAGR of 37% during the forecast period. According to the report, the robust growth in the cannabis industry is in part the result of continued legalization of cannabis product use for medical and recreational purposes across various states in the U.S. Currently, North America accounts for more than 95% of the global cannabis market, with the U.S. itself alone making up more than 90% of the North American and the global market. CLS Holdings USA Inc. (OTC: CLSH), Lexaria Bioscience Corp. (OTC: LXRP), Emblem Corp. (OTC: EMMBF), Canopy Growth Corporation (NYSE: CGC), Tilray Canada Ltd. (NASDAQ: TLRY)
As a result of the fast-growing industry, the number of investors interested in the cannabis market has grown substantially. In a report by Benzinga, Viridian Capital President, Scott Greiper, indicates that the cannabis market received USD 1.23 Billion in investments during the first five weeks of 2018, up from USD 178 Million a year earlier. Viridian Capital Advisors' Vice President Harrison Phillips explained, "Investments in cultivation and retail this year have been driven predominantly by the Canadian player. This has been happening pretty consistently from late 2016 through 2017. This reflects the necessity to scale cannabis businesses, to get some kind of advantage, and to explore strategic opportunities, both through acquisitions and international expansion."
CLS Holdings USA Inc. (OTCQB: CLSH) announced earlier last month that, "Matthew Janz has joined the Company as VP of Marketing and Director of Operations at Oasis Cannabis. Mr. Janz, previously the Regional Marketing Manager at Apothecarium, will lead the new marketing initiative programs at Oasis Cannabis, with a focus in digital marketing and social media engagement, and with attention to creative tact. He will orchestrate and implement all SEO, SEM, E-mail, Social, and AdWord work.
Matthew Ganz, VP of Marketing and Director of Operations at Oasis Cannabis, stated, 'I am excited to be a part of the Oasis Cannabis team. My expertise of creating innovative marketing solutions has been very successful in the cannabis industry with consistent conversions and building long-term growth. I'm looking forward to continuing that work with Oasis and helping improve their visibility, awareness and market penetration in the Las Vegas market.'
Jeff Binder, Chief Executive Officer of CLS, commented, 'I am pleased to welcome Matt to our CLS and Oasis team. Given his previous success at Apothecarium, we are confident in his marketing abilities and believe he will make key improvements in our marketing strategy. We look forward to the increased visibility for Oasis as we look to expand the growth opportunities for Oasis and CLS.'
About Oasis Cannabis (https://oasiscannabis.com/ ): Oasis Cannabis has operated a cannabis dispensary in the Las Vegas market since dispensaries first opened in Nevada in 2015 and has been recognized as one of the top marijuana retailers in the state. Its location within walking distance to the Las Vegas Strip and Downtown Las Vegas in combination with its delivery service to residents allows it to efficiently serve both locals and tourists in the Las Vegas area. The company recently commenced wholesale offerings of cannabis in Nevada with the launch of its City Trees brand of cannabis concentrates and cannabis-infused products in August 2017. An expansion of its cultivation and production facility is currently underway and is expected to be completed during the fourth quarter of 2018."
Lexaria Bioscience Corp. (OTCQX: LXRP) licenses disruptive patented delivery technology that promotes healthier ingestion methods, lower overall dosing and higher effectiveness of lipophilic active molecules. Lexaria Bioscience Corp. and Hill Street Beverage Company Inc. recently jointly announced that they have signed a Definitive Agreement to license Lexaria's DehydraTECHTM, on a semi-exclusive basis, for a term of five (5) years, to produce a line of cannabis-infused alcohol-free beverages for Canadian distribution, following regulatory approval. The Definitive Agreement is the conclusion of the process begun following the announcement of the non-binding letter of intent in April 2018. Terms of the Definitive Agreement were not disclosed. Chris Bunka, Chief Executive Officer of Lexaria stated, "Hill Street's award-winning and great-tasting wines and beers need an odourless and tasteless infusion process like our powerful DehydraTECH platform to ensure they will remain that way after the inclusion of cannabis. Our proven ability to render full spectrum cannabis and hemp oil into a water-soluble ingredient with no impact on the taste and smell of complex beverages like wine enables Hill Street to produce adult format beverages that will give consumers the recreational experience of cannabis, while enjoying tastes and experiences consistent with consuming traditional wine, beer and other adult format beverages."
Emblem Corp. (OTCQX: EMMBF) is a fully integrated licensed producer and distributor of medical cannabis and cannabis derivatives in Canada under the ACMPR. The Company recently announced it has established a working capital advance for Natura Naturals Holdings Inc. to support the completion of phase 1 construction while the two companies complete due diligence and negotiation of a definitive agreement in connection with the previously announced acquisition of Natura by Emblem. Based in Leamington, Ontario, Natura operates a 662,000 sq. ft licensed greenhouse that is currently undergoing a phased conversion and retrofit. After the completion of phase 1 in 2018, Natura expects to achieve an annual run-rate of 15,000 kgs. Natura expects to have its first harvest early in Q4. Once completed in 2019, the facility is expected to bring total annualized cannabis production capacity to approximately 70,000 kg per year. Nick Dean, Chief Executive Officer of Emblem explained, "To further drive our recent revenue growth and support new distribution agreements, including the Ontario Cannabis Store and the Alberta Gaming, Liquor and Cannabis Commission, maintaining momentum of the Natura buildout is a high priority. Immediate production from Natura addresses the growing demand from the new markets coming online for Emblem. The near-term supply supports the continued execution of our aggressive growth strategy."
Canopy Growth Corporation (NYSE: CGC) is a world-leading diversified cannabis and hemp company, offering distinct brands and curated cannabis varieties in dried, oil and Softgel capsule forms. Recently, the Company announced that it has received amended licenses from Health Canada that increase the size and sophistication of its national footprint. The amended licenses include a nearly doubling of growing capacity at its Smiths Falls Campus at 1 Hershey Drive, an additional 223,200 sq. ft. of cultivation space at its majority-owned Les Serres Vert Cannabis Inc. greenhouse in Mirabel, Quebec, and a license for a highly automated, state-of-the-art Distribution Centre located at its Smiths Falls campus. Increased production capacity at the Smiths Falls and Mirabel sites will increase Canopy's ability to reach consumers in every market once recreational sales are permitted in October 2018. In Smiths Falls, the specific licensed rooms will also become part of a new Tweed Visitor Centre experience that is launching August 25th, 2018. Adults over 19 years of age will be able to stroll along the catwalk Hershey left behind and look down on a new era of production activity.
Tilray Canada Ltd. (NASDAQ: TLRY) is a global pioneer in cannabis research, cultivation, processing and distribution currently serving tens of thousands of patients in eleven countries spanning five continents. Recently, the Company announced that it has been selected by the Nova Scotia Liquor Corporation to receive an initial purchase order for adult-use cannabis. The purchase order would allow Tilray, one of fourteen cannabis producers selected by NSLC, to supply the province of Nova Scotia with a diverse array of cannabis products in anticipation of the launch of the adult-use market on October 17th, 2018. Tilray intends to fulfill NSLC purchase orders through its affiliate High Park Holdings Ltd., DBA High Park Company™, which was formed to produce and distribute a broad-based portfolio of adult-use cannabis brands and products.
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