NEW YORK, September 27, 2018 /PRNewswire/ --
According to data compiled by Grand View Research, the global legal cannabis market was valued at USD 9.3 Billion in 2016. The market is expected to grow at a CAGR of 34.6% during the forecast period from 2018 to 2025. The biggest drivers for the market are the widespread global legalization and high demands for both medical and recreational usage. The legal market is comprised of two segments: medical and recreational. Predominantly, companies are based around either medical or recreational sales, resulting in a wide variety of products. Products offered in the market include varieties of strains and extracts such as oils, tinctures, resins and consumables based on the concentration of cannabinoids like THC and CBD. New Age Farm (OTC: NWGFF), Lexaria Bioscience Corp. (OTC: LXRP), MPX Bioceutical Corp. (OTC: MPXEF), MYM Nutraceuticals Inc. (OTC: MYMMF), United Cannabis Corporation (OTC: CNAB)
As countries begin to legalize or reduce regulations related to cannabis, the market is expected to witness a surge in demand. Primarily, the North American segment of the market is forecast to be the largest and biggest contributor. Other nations such as Canada and Uruguay have already opted to legalize cannabis entirely, while European nations are moving towards legalization of medical usage. The global widespread has resulted in businesses in the industry to form partnerships and mergers to expand their presence to meet market demands. "As demand for cannabis products soars, large-scale cultivation, production and delivery systems will be required. As a result, the next five years are expected to be defined by the increased involvement of large corporations and heavy merger and acquisition activity," according to Kelly Oliver, analyst at IBISWorld.
New Age Farm (OTC: NWGFF) is also listed on the Canadian Securities Exchange under the ticker (CSE: NF). Yesterday, the Company announced that, "further to its news release dated September 24, 2018, the Company has signed a definitive agreement dated September 25, 2018 (the "Agreement") to acquire 100% of Drink Fresh Water LLC ("DFW"), a CBD infused beverage company. Pursuant to the Agreement, consideration for the acquisition will be USD$1,275,000, with USD$75,000 payable in cash and USD$1,200,000 being issuable in common shares of the Company. The day to day operations of DFW will continue to be operated by the DFW team while the back-end operations will transition over to the New Age Farm team. Additionally, New Age Farm will take over marketing of the company as well as immediately inject it into the current established distribution lines through the Company's wholly owned subsidiary, We Are Kured LLC ("Kured").
DFW was established in California by a group of industry leaders. Their flagship product, a CBD infused, nano amplified alkaline water has continued to grow steadily and can now be found throughout the nation in over 100 unique retail stores. New Age Farm feels confident they can drastically increase that distribution. Additionally, the company looks to expand on the current success by adding additional SKUs in the very near future."
Joshua Bartch, New Age Farm's Chief Executive Officer, stated: 'We are incredibly pleased with the acquisition of Drink Fresh Water LLC. We have been in talks with the company for some time regarding the potential to work together in some capacity. I was always impressed with the product, branding and overall concept of the company. We've known the team at Fresh Water for some time and I have personally worked with them in various capacities. We are excited to join forces and work together to expand this industry leading company into a true industry giant.'
Benjamin Martch, New Age Farm's Chief Marketing Officer and founder and Chief Executive Officer of Kured stated: "After seeing the success of Fresh Water, the recent hype around CBD infused beverages, the New Age Board of Directors have all decided that Drink Fresh Water LLC is a great addition to the New Age portfolio. The current team of industry professionals running Drink Fresh Water LLC is nothing less than impressive and with our help with production and international marketing we feel this will be a win for New Age."
Nam Tran, Brand Manager of DFW, stated: 'We have known Josh and Ben for some time now and having worked with them on various other projects, we know what they can bring to the table. So when the opportunity to become a part of New Age's great portfolio of brands, we jumped on. Their expertise in production will help make Fresh Water CBD a house-hold name in CBD beverages."
Lexaria Bioscience Corp. (OTCQX: LXRP) has developed and out-licenses its disruptive delivery technology that promotes healthier ingestion methods, lower overall dosing and higher effectiveness of lipophilic active molecules. Lexaria Bioscience Corp. recently reported significant bioavailability results from its randomized, placebo-controlled, double-blind European human clinical study that evaluated TurboCBDTM - a proprietary, DehydraTECH™ powered, cannabidiol ("CBD") fortified hemp oil capsule developed by Lexaria. The degree and speed of CBD absorption into blood plasma and potential cardiovascular and cognitive performance enhancement in 12 healthy male volunteers were studied. These results corroborate and confirm earlier in vitro and in vivo studies that have evaluated Lexaria's DehydraTECHTM technology and have consistently measured higher levels of drug delivery much more quickly than positive controls with matching CBD concentrations. Although this study evaluated absorption only of CBD and its metabolites, Lexaria believes nearly identical bioavailability enhancement results would be achieved if the cannabinoid studied was THC instead of CBD.
MPX Bioceutical Corp. (OTCQB: MPXEF), through its wholly-owned subsidiaries in the U.S., provides substantial management, staffing, procurement, advisory, financial, real estate rental, logistics and administrative services to medicinal cannabis enterprises in Arizona operating under the Health for Life and the award-winning Melting Point Extracts brands. MPX Bioceutical Corporation recently announced that it has entered into a binding share purchase agreement to acquire all of the outstanding shares in the capital of Spartan Wellness Corporation from Ninth Square Capital Corporation and Veteran Grown Corporation, both of which are at arm's length to the Company. Spartan is a Canadian organization whose mission is to help veterans suffering from various ailments, mostly psychological, to reduce or eliminate dependencies on opioids by directing them towards medical cannabis. "Spartan is cash flow positive and acquiring it will enable us to build on its prior success to rapidly secure market share, grow patient numbers and ultimately secure retail sales for our Canveda operation in the highly competitive Canadian market," stated W. Scott Boyes, MPX's Chairman, President and Chief Executive Officer. "Veteran patients have a premium value in Canada due to their enhanced insurance coverage. Furthermore, we expect Spartan to grow its patient numbers over time as it opens additional information rooms across the country to increase veteran support and awareness, among other initiatives. Achievement by Spartan of the final milestones will represent sales of the full production capacity of MPX's Canveda facility in Peterborough, Ontario."
MYM Nutraceuticals Inc. (OTCQB: MYMMF) is an innovative company focused on acquiring Health Canada licenses to produce and sell high-end medicinal cannabis supplements and topical products. MYM Nutraceuticals Inc. recently provided the following update on its, currently under construction, 1.5 million sq. ft. cannabis greenhouse production facility, located in Weedon, Quebec. A significant portion of the property is currently cleared and de-stumped. There is now ample land to construct the first phase of greenhouses. The project has accepted delivery of the first 30,000 sq. ft. of greenhouse structure and equipment and will begin construction immediately. Phase one of the greenhouse construction was estimated to be completed in September. The equipment and control systems are scheduled to be installed in October. Following this, the virtual tour and evidence package video will be completed and delivered to Health Canada in Q4 2018. Clearing of the land for phase two will occur concurrent with the construction of the first phase of greenhouses. The foundations and anchor points will be in place by the end of 2018. The estimated date for the project build-out is Q4 of 2019, with full production of the 1.5 million sq. ft. greenhouse facility estimated to be underway in Q2 of 2020.
United Cannabis Corporation (OTCQB: CNAB) is a biotechnology company dedicated to the development of phyto-therapeutic based products supported by patented technologies for the pharmaceutical, medical, and industrial markets. United Cannabis Corporation recently announced that it has signed an Agreement with Releaf Global Pty Ltd. to form and operate an Australian corporation for the purpose of commercializing the Company's patented Prana Bio Nutrient Medicinals, cannabis-centric products and technologies in Australia and other territories. Earnest Blackmon, United Cannabis' Chief Executive Officer, commented, "Australia represents a substantial opportunity for United Cannabis. Our Prana line is ideally suited for new markets as it provides patients and caregivers with a guided program to develop therapies targeted to a given patient's unique concerns."
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