Legal Cannabis Market Shows Strength in North America

NEW YORK, May 15, 2017 /PRNewswire/ --

A report by Arcview Market Research indicates that the legal cannabis industry accelerated at a remarkable pace in 2016. North American consumers spent $6.7 billion on legal cannabis products, or up 34% from 2015. In the rapidly growing cannabis industry of 2016, investors, regulators, and businesses hoped to glean important information from the first-movers. Arcview Market Research forecasts growth will reaccelerate beginning in 2018 as adult use sales ramp up in Canada, California, and Massachusetts along with medical sales in Florida. This will grow the $6.7 billion market of 2016 at a robust 27% CAGR to $22.6 billion in 2021. Cannabis Wheaton Income Corp. (TSX.V: CBW), Invictus MD Strategies Corp. (OTC: IVITF) (CSE: IMH.CN), Supreme Pharmaceuticals, Inc. (OTC: SPRWF), Emblem Corp. (OTC: EMMBF), Aphria Inc. (OTC: APHQF)

The report identifies despite mixed signals from Washington, D.C., the cannabis legalization venture has pushed forward across many states. Congruent states are using Colorado, Washington, and Oregon as models while expanding in to the medical or adult use space. The biggest political win of the U.S. election came in California, as voters originally failed to approve adult use in 2010, they voted overwhelmingly in 2016 legalizing in a state that represents the world's sixth-largest economy. As for Canada, last month Canadian Prime Minister, Justin Trudeau had taken the first steps in fulfilling his campaign promise in legalizing cannabis for recreational purposes in the country. The proposed legislation is called the Act to Amend the Controlled Drugs and Substances, and the goal is to implement the legislation by July 2018. 

Cannabis Wheaton Income Corp. (TSX.V: CBW) announced this morning that it, "is pleased to feature its partner Broken Coast Cannabis Ltd. ("Broken Coast") and discuss the CW and Broken Coast transaction in more detail."

Dean Kauwell, Co-Founder, Director, and COO of Broken Coast commented, "Broken Coast is very enthusiastic about our new partnership with Cannabis Wheaton. As opposed to traditional VCs, the team at Cannabis Wheaton brings a lot more than money to the table. They are in it for the long term and add tremendous value in the areas of marketing, product innovation, distribution, legal, and regulatory compliance. Broken Coast is also very excited about the opportunity to participate in the dynamic marketplace that will be created by the Cannabis Wheaton platform. We are very confident that the funding provided by Cannabis Wheaton will enable our jointly-owned entities to accelerate our expansion and achieve significant scale of high grade cannabis production in a short amount of time. We appreciate the trust and confidence placed in us by the Cannabis Wheaton team and we look forward to a long, productive, and profitable relationship."

Chuck Rifici, Chairman and CEO of Cannabis Wheaton noted, "Broken Coast is widely regarded as one of the leading producers of medical cannabis in Canada and we are thrilled to have come to an agreement that will allow us to leverage each other's strengths and expand upon the world-class product and brand Broken Coast is best known for. The vote of confidence from the team at Broken Coast is extremely gratifying and I believe that it sends a strong message to the industry about the powerful platform that we have put together at Cannabis Wheaton."

Invictus MD Strategies Corp. (OTC: IVITF) (CSE: IMH.CN) is a leading cannabis company founded in Vancouver, Canada. The company represents a platform of licensed producers, under the Access to Cannabis for Medical Purposes Regulations ("ACMPR"), dedicated to providing high-quality, regulated pharma-grade cannabis for medical and recreational use. On April 26, 2017, the company announced that it has acquired 100% of the shares of Acreage Pharms Ltd. ("Acreage Pharms"), a licensed producer of Cannabis under ACMPR. Trevor Dixon has been appointed director and Chief Executive Officer of the Company and Brenda Dixon has been appointed the Chief Science Officer of the Company. Dan Kriznic will continue his leadership role as Executive Chairman of the Company.

Supreme Pharmaceuticals, Inc. (OTC: SPRWF) commits to becoming a leading supplier of affordable medical cannabis through its wholly-owned subsidiary 7 ACRES (formerly AMMCan). 7 ACRES is a federally-licensed producer of medical cannabis pursuant to the Access to Cannabis for Medical Purposes Regulations ("ACMPR") operating a 342,000 sq. ft. Hybrid Greenhouse facility. On March 10, 2017, the company announced that its wholly-owned subsidiary 7 ACRES has received a renewal of its license to cultivate cannabis pursuant to the ACMPR. Supreme also understands that Health Canada is in the final phase of its review of 7 ACRES' application for the authorization to sell bulk cannabis. The application was submitted in November 2016 followed by a site inspection in January 2017.

Emblem Corp. (OTC: EMMBF) is licensed under the Access to Cannabis for Medical Purposes Regulations (the "ACMPR") to cultivate and sell medical marijuana. On February 27, 2017, the company announced that it has entered into a non-binding memorandum of understanding with ICC International Cannabis Corporation, a licensed producer of Cannabidiol ("CBD") and other cannabis derivatives based out of Uruguay pursuant to the applicable regulatory regimes overseen by the Instituto de Regulación y Control del Cannabis ("IRCCA") and Health Canada, respectively. Emblem will work with ICC to import CBD into Canada to help fulfill the demand in the Canadian market.

Aphria Inc. (OTCQB: APHQF) is a Health Canada Licensed Producer of medical cannabis products. On April 19, 2017, the company and Tetra Bio-Pharma Inc. announced plans for the joint distribution of dried medical cannabis in the maritime provinces and Quebec. Aphria and Tetra will enter into a joint supply agreement, with Aphria supplying dried medical cannabis under its ACMPR license, and Tetra packaging the product using the manufacturing process developed for its in-progress clinical drug trial for PPP001. The formulation and packaging will be completed by Tetra, under its CDSA dealer's licence, at its New Brunswick facility.

Please SIGN UP NOW at http://www.FinancialBuzz.com To Receive Alerts on Trending Financial News from all these companies. "The Latest Buzz in Financial News"

Subscribe Now! Watch us report from NYSE https://www.youtube.com/FinancialBuzzMedia

Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz

Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz

Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/

About FinancialBuzz.com  

FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the "Site") is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. Financialbuzz.com has not been compensated directly by any of the companies mentioned here in this editorial. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For this release, FinancialBuzz.com has been compensated five thousand dollars for financial news dissemination and PR services by a third party non affiliate for Cannabis Wheaton Income Corp. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use. Please visit: http://www.financialbuzz.com

For further information:
Media Contact:
[email protected]
+1-877-601-1879

Url: http://www.FinancialBuzz.com 

SOURCE FinancialBuzz.com