PALM BEACH, Florida, Sept. 10, 2019 /PRNewswire/ -- Consumers and investors are getting excited about cannabis. Many reports and articles have exposed the fact that it's no secret that pot has taken off like wildfire in terms of popularity over the last several years. An article in MarijuanaBreak pointed out : "… the monstrous impending demand for weed that's about to hit the U.S. and Canada in the coming months and years – millions upon millions of new pot users are soon going to be looking to buy cannabis products in legal dispensaries, and this is causing a little bit of a mild panic among the folks who are responsible for growing all that weed. Basically, they're starting to seriously wonder how they're going to supply such a whirlwind of a demand. To put the numbers in perspective, Canada only had about 180,000 medical marijuana patients to supply in 2017 (medical weed has been legal in Canada since 2001), and a grand total of only 45 legal growers. That works out to about 4,000 patients per grower, but even at such a low volume a lot of the medical dispensaries across the country found it tough to keep their shelves stocked – many would run out of product altogether on a fairly routine basis." Active companies in the Cannabis market this week include Cannabis Strategic Ventures, Inc. (OTCQB: NUGS), Terra Tech Corp. (OTCQX: TRTC), CV Sciences, Inc. (OTCQB: CVSI), MariMed Inc. (OTCQX: MRMD), KushCo Holdings, Inc. (OTCQX: KSHB).
The article continued by asking how in the world are suppliers going to fill that massive "green void," if they've had trouble supplying less than 200,000 people with weed for the last 15+ years? They think that the supply will meet the demand, saying: "As it turns out, Canada is not alone in facing the overwhelming task of supplying millions of new people with quality weed. Colorado went through the exact same thing when they legalized recreational pot back in 2014, and they're only now starting to catch up to the supply-to-demand ratio.
Cannabis Strategic Ventures, Inc. (OTCQB:NUGS) BREAKING NEWS: Cannabis Strategic Ventures is proud to announce the first round of product sales from the inaugural harvest of its wholly owned and operated flagship greenhouse farm, NUGS FARM (www.nugsfarm.com), located in Northern California. The 6-acre cannabis operation is expected to reach full capacity by year-end and has started booking sales for more than 13 of its unique flower strains.
"We are excited to start selling product from NUGS FARM inaugural harvest. Booking our first round of sales is an exciting milestone for our Company and all stakeholders," said Simon Yu, CEO, Cannabis Strategic Ventures. "Our team is overwhelmed with the level of interest in NUGS FARM cannabis flower. We believed this a testament to the quality of our high-tech cultivation process and our commitment to quality, growth and infusing the California legal markets with exceptional cannabis flower and products."
NUGS FARM is a high-tech greenhouse operation located in an agriculturally rich region of California. NUGS FARM holds 19 cultivation, manufacturing and distribution licenses issued by the Bureau of Cannabis Control in the state of California. The combination of natural sunlight and high-tech mixed light greenhouses will allow NUGS FARM to harvest quality cannabis flower multiple times per year.
Recent industry figures from New Frontier Data estimate that overall sales within the legalized U.S. cannabis industry are expected to reach $13.6 billion throughout 2019, for a 32% increase over 2018 totals worth $10.3 billion. Cannabis Strategic Ventures plans to expand its operations within this burgeoning market by adding on-site processing and manufacturing for oils, extracts, pre-rolls and more. Read this and more news for Cannabis Strategic Ventures at: https://www.financialnewsmedia.com/news-nugs
Other recent developments and major influences in the cannabis industry include:
Terra Tech Corp. (OTCQX: TRTC) a vertically integrated cannabis-focused agriculture company, recently announced that it entered into an agreement to sell 100% of the assets of its Blüm Reno dispensary located at 1085 S Virginia St Suite A, Reno, NV 89502, including the building where the dispensary is located, for a purchase price of $15,000,000.
Terra Tech's Blüm Reno dispensary has been operational since January 2017 and provides cannabis products to the local medical and adult-use markets, including the Company's proprietary IVXX™ brand of premium medical cannabis, flowers, shatters, waxes and oils, among other high-quality cannabis products from a range of reputable providers of superior grade medical cannabis.
CV Sciences, Inc. (OTCQB: CVSI) recently announce further expansion of its industry-dominating PlusCBD™ Oil brand into the specialty retail channel with The Vitamin Shoppe, Inc. CV Sciences' expansion broadens distribution and availability of a broad assortment of the Company's best-selling PlusCBD™ Oil products. Distribution across The Vitamin Shoppe's national footprint includes both topical products, such as PlusCBD™ Oil Extra Strength Balm and recently launched PlusCBD™ Oil Roll-On, as well as PlusCBD™ Oil full spectrum hemp extracts including Gold Formula Softgels, Gold Formula Drops, and Total Plant Complex Sprays and Capsules. PlusCBD™ Oil products will be available beginning on September 22, 2019 at 383 Vitamin Shoppe stores in 30 U.S. states and Puerto Rico. This expansion brings CV Sciences' PlusCBD™ Oil distribution to more than 5,300 retail locations throughout the U.S.
MariMed Inc. (OTCQX: MRMD) has recently received a special permit to allow its Panacea Wellness™ dispensary in Middleborough to merchandise cannabis products under the Massachusetts adult use program. It will now proceed at the Cannabis Control Commission (CCC) for adult use final approval.
The dispensary has already received town approval for medical use. The state's Cannabis Control Commission is anticipated to give the go-ahead to open Panacea Wellness under the medical use program following the inspection of the dispensary earlier this week.
Panacea Wellness has worked with the Town of Middleborough to secure all necessary approvals, and has received the approval of the town's planning board, board of selectman, and fire and police departments. The town is allowing up to only four cannabis dispensary permits, with Panacea Wellness expected to be the first. MariMed has permits for two additional Panacea Wellness dispensaries in Massachusetts that are also under development.
KushCo Holdings, Inc. (OTCQX: KSHB) recently announced that Nick Kovacevich, Chief Executive Officer and Chairman, will present live at VirtualInvestorConferences.com on September 12th. This will be a live, interactive online event where investors are invited to ask the company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event.
It is recommended that investors pre-register and run the online system check to expedite participation and receive event updates. Recent Company Highlights - August 22, 2019 – Secured a $50 million credit facility from Monroe Capital LLC to be used for working capital, continued organic growth and potential acquisitive activities - August 20, 2019 – Bolstered Advisory Board with addition of Pete Kadens, former CEO of Green Thumb Industries - August 6, 2019 – Launched Retail Services Division to connect CBD brands to national retail chains - July 8, 2019 – Announced filing of application to list on The NASDAQ Global Select Market
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