NEW YORK, October 22, 2018 /PRNewswire/ --
Growing acceptance of cannabis for medical use in the U.S. continues the grow the legal cannabis market. According to a report published by Hexa Research, the U.S. medical cannabis market was valued at USD 5.44 Billion in 2016 and is expected to reach USD 19.48 Billion by 2024. Medical cannabis is now used by some patients who suffer from cancer, chronic pain and diabetes. Chronic pain is the largest medical cannabis segment, accounting for 46% of the U.S. cannabis medical market share in 2016. The ageing population as well as medical cannabis' ability to curb pain has result in the increasing use of cannabis. AmeriCann, Inc. (OTC: ACAN), Canopy Growth Corporation (NYSE: CGC), New Age Beverages Corporation (NASDAQ: NBEV), Innovative Industrial Properties, Inc. (NYSE: IIPR), iAnthus Capital Holdings, Inc. (OTC: ITHUF)
Support for cannabis legalization continue to grow. According to a new survey from Pew Research Center, about 62% of Americans favor legalizing the use of cannabis. Younger generations are more likely to support the legalization, as majorities of Millennials (74%), Gen X'ers (63%) and Baby Boomers (54%) say the use of marijuana should be legal. According to Leafly, Steve Hawkins, Executive Director for the Marijuana Policy Project, said: "A growing majority of Americans are ready to end the failed policy of marijuana prohibition and move on… They see states regulating marijuana for medical and adult use, and they recognize it is a much more effective approach."
AmeriCann, Inc. (OTCQB: ACAN) earlier last month announced breaking news that it, "has released designs for Building 2 which includes 345,000 square feet of cannabis manufacturing and cultivation infrastructure at its 52-acre Massachusetts Medical Cannabis Center (MMCC) in Freetown, MA. The configuration of Building 2 includes over 100,000 square feet of dedicated cannabis extraction, processing and product manufacturing space and approx. 245,000 sq. ft. of cultivation infrastructure. The dedicated cultivation facilities are designed to utilize AmeriCann's proprietary greenhouse system called Cannopy. The design of Building 2 of the MMCC, which is 345,000 square feet, will include three distinct units:
- Unit A: 184,720 square foot cannabis cultivation facility
- Unit B: 40,178 square foot extraction and product manufacturing facility; and
- Unit C: 118,580 square foot cannabis cultivation facility cannabis
AmeriCann will own and operate Unit B which is designed to provide extraction and product manufacturing support to the entire MMCC project, as well as to other licensed cannabis farmers throughout Massachusetts. In addition to large-scale extraction of cannabis plant material, AmeriCann plans to produce branded consumer packaged goods including cannabis beverages, vaporizer products, edible products, non-edible products and concentrates at the state-of-the-art facility. The Company has already commenced construction on the first phase of the 1 million square foot multi-phase MMCC project with a 30,000 square foot cultivation facility.
AmeriCann plans to replicate the brands, technology and innovations developed at its MMCC project to new markets as a multi-state licensed operator.
Infused products are becoming an increasingly larger segment of total cannabis sales in regulated markets. According to the Wall Street Journal, 'Interest in cannabis as an ingredient in food and drinks in on an upswing; beer brewing giant Constellation Brands, Inc. (NYSE: STZ) recently took a $4 billion stake in Canadian marijuana grower Canopy Growth Corp., (NYSE: CPG) which makes cannabis infused drinks and other products.
Industry experts believe that the pending Massachusetts adult-use market, in conjunction with its existing medical program will exceed $1 billion by 2020. As the first approved adult-use cannabis market on the Eastern US, Massachusetts has the potential to become the epicenter for cannabis innovation and research.
About Massachusetts Medical Cannabis Center - Massachusetts Medical Cannabis Center (MMCC), a one million square foot sustainable greenhouse facility in Freetown, Mass. The first phase of the facility is scheduled to open and be ready for cannabis cultivation, processing, and infused product production in the spring of 2019. Once fully developed, the MMCC design calls for a research facility, a training center, corporate offices, a quality-assurance laboratory, and a facility for manufacturing cannabis-infused food, nutraceuticals and consumer packaged cannabis goods. AmeriCann intends to open similar facilities in states in which cannabis is legal for medical and adult use.
About AmeriCann- AmeriCann is a publicly traded agricultural technology (Ag-Tech) company that is developing a new generation of sustainable, state-of-the-art cannabis cultivation and processing properties. AmeriCann uses greenhouse technology which is superior to the current industry standard of growing cannabis in warehouse facilities under artificial lights. According to industry experts, by capturing natural sunlight, greenhouses use 25 percent fewer light bulbs, and utility bills are up to 75 percent less than in typical warehouse cultivation facilities. As such, AmeriCann's Cannopy System enables cannabis to be produced with a greatly reduced carbon footprint, making the final product less expensive. Additionally, greenhouse construction costs are nearly half of warehouse construction costs. The first publicly traded Certified B Corp in the cannabis industry, AmeriCann has proven its commitment to sustainable, clean cultivation of medical cannabis and to social and environmental ethics, transparency and accountability."
For the Latest "Buzz on the Street" Show recapping AmeriCann Inc. check out: https://www.youtube.com/watch?v=rHtVzx8BUz4
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. Canopy Growth Corporation recently announced that it has entered into an agreement to acquire the assets of ebbu, Inc., an Evergreen, Colorado-based hemp research leader. The transaction will complement and accelerate multiple core verticals operating under Canopy Growth's group of companies. Intellectual Property ("IP") and R&D advancements achieved by ebbu's team apply directly to Canopy Growth's hemp and THC-rich cannabis genetic breeding program and its cannabis infused beverage capabilities. Additionally, ebbu's IP portfolio will contribute to the clinical formulations program being executed by Canopy Health Innovations, a wholly owned subsidiary of the Company. Canopy Growth operates a rapidly emerging, field-scale hemp operation based in Saskatchewan and by applying ebbu's IP, the Company has the potential to vastly reduce the cost of CBD production, a sought-after cannabinoid in both the wellness and medical spaces. "Beyond the technological edge this transaction provides, we are pursuing this acquisition because Canopy shares ebbu's core ethos of building consumer trust," said Mark Zekulin, Co-Chief Executive Officer & President, Canopy Growth. "We collectively believe consumer trust is achieved by driving the scientific agenda needed to build predictable, repeatable outcomes and layering on brand power."
New Age Beverages Corporation (NASDAQ: NBEV) is a Colorado-based healthy functional beverage company that was created over the past two years with the combination of Búcha Live Kombucha®, XingTea®, Coco-Libre®, and Marley®, to create a one-stop-shop solution for retailers and distributors providing healthier beverages in the disruptive growth segments of the USD 1 Trillion-dollar non-alcoholic beverage industry. New Age Beverages Corporation recently announced that the results of its CBD-infused portfolio released during the North American Convenience Store show at the Las Vegas Convention Center, on October 7-10, 2018. "Placing 2nd at NACS is just unheard of and is new territory for New Age," commented Mike Cunningham, Senior Vice President of Sales. "And this doesn't even count the non-stop flow of retailers to our offsite location and standing room only CBD launch event. It is extremely gratifying to see retailers at the tipping point of taking greater positions in healthy beverages versus their legacy soft drink portfolios. New Age is in a leadership position to take advantage of this shift, and is one of the few scale companies that can meet all of the retailer's needs, as their customers demand more and more better-for-you products."
Innovative Industrial Properties, Inc. (NYSE: IIPR) is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated medical-use cannabis facilities. Innovative Industrial Properties, Inc. recently announced that it closed on the acquisition of the property located at 10070 Harvest Park in Dimondale, Michigan, which is currently under development and expected to comprise approximately 56,000 sq. ft. upon completion. "We are very pleased to enter into this long-term relationship with Green Peak and its strong management team, and to bring our platform to Michigan, a state that we see as presenting a tremendous opportunity," said Paul Smithers, President and Chief Executive Officer of the Company. "With this acquisition, we have acquired nine properties across seven states, continuing our diversification and growth, while remaining focused on executing in line with our rigorous underwriting standards."
iAnthus Capital Holdings, Inc. (OTCQX: ITHUF) owns and operates best-in-class licensed cannabis cultivation, processing and dispensary facilities throughout the United States, providing investors diversified exposure to the U.S. regulated cannabis industry. iAnthus Capital Holdings, Inc. and MPX Bioceutical Corporation recently announced that both companies have signed an arrangement agreement pursuant to which iAnthus will combine with MPX in an all-stock transaction with offered equity consideration to MPX shareholders valued at USD 835 Million before giving effect to MPX International and assuming all of MPX's dilutive securities are exercised prior to the completion of the transaction. The Agreement represents the first public-to-public merger transaction in U.S. cannabis history. "This is a watershed moment for iAnthus, as we nearly double the size of our national footprint in the United States. iAnthus will be uniquely positioned for success on the U.S. East Coast, while solidifying our cultivation and retail presence with the additions of California, Nevada, Maryland and Arizona," said Hadley Ford, Chief Executive Officer of iAnthus. "Since its inception, iAnthus has been strategically focused on building scale, and this announcement crystallizes our positioning as one of the largest multi-state operators in North America."
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