NEW YORK, October 12, 2017 /PRNewswire/ --
According to a report by New Frontier Data, medical cannabis sales in 2017 are forecast to grow to $5.3 billion, which is 67% of total cannabis sales. The report projects that by 2025, medical sales in current legal states are forecast to grow to $13.2 billion, which will account for 55% of total cannabis sales. Adult use sales in 2017 are forecast to reach $2.6 billion, or rising to $10.9 billion by 2025. New Frontier also indicates that legal cannabis sales in California alone are projected to reach $2.8 billion in 2017 and $6.6 billion by 2025, with a compound annual growth rate of 12% over the next eight years. Glance Technologies Inc (OTC: GLNNF), Cara Therapeutics Inc. (NASDAQ: CARA), Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE), INSYS Therapeutics, Inc. (NASDAQ: INSY), Cannabis Sativa, Inc. (OTC: CBDS)
One major obstacle of the legal cannabis market is to raise money. Because of discrepancy between states and federal laws banks still often refuse to open checking accounts and do not lend money for cannabis business. Yet, despite the discrepancies, the situation improves over time, in large thanks to technology and electronic payment systems. A report by paymentssource.com indicates that a shop that handles its payments electronically is less able to commit tax fraud and less likely to be a target of theft. As result, some concerns that financial institutions have may be dealt with. "You're starting to see a tendency, a healthy capitalistic tendency, for banks and credit unions that know they are missing out on or losing money by not working with marijuana businesses," said Serge Chistov, an investor and financial consultant for Honest Marijuana, a recreational grow house in Denver, Colorado.
Glance Technologies Inc (OTCQB: GLNNF) also listed on the Canadian Stock Exchange under the Ticker 'GET'. Just earlier today the company announced breaking news that, "Cannapay Financial, a significant subsidiary of Glance, has acquired an Ayurvedic wellness product line. Cannapay will develop new products and a supporting lifestyle app to distribute content that will enable customers to realize the beneficial properties of Cannabis and THC."
Ayurvedic medicine treats Cannabis as an ancient holistic plant. This acquisition is the second acquisition of Ayurvedic products Cannapay has made this quarter. Cannapay intends to partner with licensed producers to create cannabis infused products to sell in Canada and distribute internationally where legal to do so.
"We are working to develop a meaningful, insights-driven brand and the supporting content with the underlying goal of educating cannabis consumers about how to most effectively utilize these products to achieve their health and wellness goals. Just as the practice of Ayurveda is based on the science of life, we are building a brand centered on the science of people," says Penny Green, Glance Technologies President. Products will include items such as: soap bars, massage oils, candles, bubble bath, bath bombs, body sprays, moisturizer, bath salts and more. These will be created with essential oils and herbs, salts, hemp and other ingredients and will be used for skin rejuvenation, relaxation and overall rejuvenation, pain relief, stress reduction, skin repair, deep cleaning and more.
The lifestyle app will focus on wellness practice, guide users through exercises and meditations, as well as help them to understand what various wellness products do and which ones are right for them. Cannapay has acquired the products, formulas relating to the development and composition of the aforementioned products, the results of all market and product research and all other intellectual property related to the products as well as the right to reformulate the products to include THC.
Cannapay has also appointed Bhavna Solecki as its Director of Products and Digital Content. Ms. Solecki is an Ayurvedic Holistic Practitioner and is the sole founder of Inner Evolution Healing Center Ltd. She is a recognized speaker and workshop facilitator for health and wellness events. She has been involved in research and development for pain and stress management for acute and chronic illnesses for the past fifteen years working with plant medicine and ancient therapies. Cannapay is investing significant resources into developing trusted brands that can be distributed internationally, marketed and sold through its mobile payment cannabis lifestyle app.
"We are now engaging industry leaders in branding, product development, digital educational content production, regulatory experts and application user experience artists to create brands that will have tremendous impact on the international Cannabis community, and translating to significant revenues for Cannapay," says Green.
Cara Therapeutics Inc. (NASDAQ: CARA) is developing lead molecules that selectively modulate peripheral CB receptors without targeting CNS cannabinoid receptors. Peripheral CB receptor modulators will be initially developed as a novel therapeutic approach for neuropathic pain, a condition currently without consistently effective therapies. Studies on the effects of cannabis (marijuana) have led to the recent discovery of an endogenous system of ligands in humans involved in a number of physiological processes including pain and inflammation.
Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE) is dedicated to improving the lives of people with severe health conditions where there is a high unmet medical need by developing and commercializing pharmaceutically-produced transdermal cannabinoid medicines designed to meet the rigorous efficacy and safety standards established by global regulatory agencies. On September 28, 2017, the company announced positive top line results from an open label exploratory Phase 2 FAB-C (Treatment of Fragile X Syndrome Anxiety and Behavioral Challenges with CBD) clinical trial evaluating ZYN002 cannabidiol (CBD) gel in pediatric and adolescent patients with Fragile X syndrome (FXS). The study successfully met its primary endpoint, achieving a 46% improvement (p<0.0001) in the total score of Anxiety, Depression, and Mood Scale (ADAMS) at week twelve compared to baseline.
INSYS Therapeutics, Inc. (NASDAQ: INSY) is a specialty pharmaceutical company that develops and commercializes innovative drugs and novel drug delivery systems of therapeutic molecules that improve patients' quality of life. Recently, the company announced that it has extended the compassionate use studies of its proprietary oral formulation of cannabidiol (CBD) for the treatment of refractory pediatric epilepsy, enabling patients from previous clinical trials of the investigational medicine to continue receiving it according to the protocols originally accepted by the U.S. Food and Drug Administration (FDA) and under the supervision of their physicians.
Cannabis Sativa, Inc. (OTCQB: CBDS) is engaged in the licensing of cannabis related intellectual property, marketing and branding for cannabis based products and services, operation of cannabis related technology services, and ancillary business activities. On September 6, 2017, the company announced that it has granted an exclusive license to the Sowilde Management Group, Inc. to allow Sowilde to produce products under the Company's 'hi' and 'White Rabbit' brands. The first products offered to the market by Sowilde are the White Rabbit line of cannabis sprays and cannabis mints and hi Infused Wild Honey. White Rabbit offers fast acting low dose cannabis oral sprays and low dose cannabis mints. Both the spray and the mints are formulated as CBD, THC and CBD/THC blends. Dosage ranges include 2.5mg, 5mg and 10mg tablets and sprays with 1:1 and 20:1 variations of each. hi Honey, is a rich, dark, Wild Raw Honey from African mountain bee that is infused with THC or CBD and sourced from a company that supports a native bee population as well as creates sustainable livelihoods for two indigenous groups.
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