PALM BEACH, Florida, August 15, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
The multi-billion dollar North American Cannabis industry continues to experience high growth as marijuana remains a booming business behind increased legalization and positive social and economic trends surrounding a variety of cannabis-based products. Canada is especially enjoying the current market conditions, with a number of US based companies move to the Canadian Stock Exchange in light of a more favorable legal environment. Nonetheless, cannabis business as a whole in North America is rapidly growing, prompting leaders to re-invest into long term assets in order to expand operations to meet immediate and future market demand and growth. Additionally, the industry is experiencing high activity in the areas of mergers and acquisitions as leaders aim to keep hold of their stakes in the market. Active cannabis stocks in the markets today include: CROP Infrastructure Corp. (CSE:CROP) (OTC:CRXPF), Canopy Growth Corporation (NYSE:CGC) (TSX:WEED), Aurora Cannabis Inc. (TSX:ACB) (OTC:ACBFF), Aphria Inc. (TSX:APH) (OTC:APHQF), The Supreme Cannabis Company Inc. (TSX-V:FIRE) (OTC:SPRWF).
CROP Infrastructure Corp. (CSE:CROP) (OTCPK:CRXPF)) BREAKING NEWS: CROP Infrastructure announces it has received confirmation that its San Bernardino dispensary application has passed stage one of the application review process. As previously announced on July 5th 2018, CROP has agreed to finance the purchase of real estate on the granting of a California dispensary license. The proposed dispensaries will operate under the brand, "Emerald Heights".
Furthermore, the Company is pleased to announce it has increased its ownership from 30% to 49% for its "Emerald Triangle" cannabis production facility tenanted by "Hempire" in Humboldt California. This 30,000 square foot production facility sits on approximately nine acres and consists of a 10,000 square foot medicinal cannabis greenhouse facility and an additional 20,000 square feet of recreational licensed canopy.
As previously announced on August 9th 2018, harvesting at the Humboldt operation recently began at the first of five 2,000 square foot greenhouses and is expected to continue at a rate of one greenhouse per week. As each greenhouse is harvested new starter plants will populate the canopy space. Once the 10,000 square feet of plants have been taken down, the additional 20,000 square feet of canopy will then be harvested.
CROP Infrastructure Director & CEO Michael Yorke states: "This is an exciting time for CROP as our tenant begins its first harvest in California which makes this an ideal time to increase our ownership in the project from 30% to 49%. Our Humboldt facility is located in one of the most important cannabis jurisdictions in the US and potentially the world known as the Emerald Triangle. With the advancement of our dispensary application we are now moving towards assisting tenants in becoming fully vertically integrated in the State of California." Read this full announcement and more news for CROP Infrastructure at: http://www.marketnewsupdates.com/news/crop.html
Additional cannabis industry related developments from around the markets:
Aurora Cannabis Inc. (TSX:ACB.TO) (OTCQX:ACBFF) on Tuesday announced that its acquisition of Anandia Laboratories Inc. ("Anandia") is now complete. The previously announced arrangement, under the provisions of the Business Corporations Act ( British Columbia ), means that among other things, Aurora has now acquired all of the issued and outstanding shares of Anandia in an all-share transaction (the "Transaction") .Anandia is a world-leading cannabis-focused science company, specialized in genomics, metabolite profiling, plant breeding, disease characterization, and cultivar certification, as well as providing testing services to producers and patient-cultivators. Dr. Jonathan Page , co-founder of Anandia, is a globally renowned cannabis scientist, whose 37 peer-reviewed publications include key studies on cannabinoid and terpene biosynthesis. He previously led the Canadian team of scientists who were first to publish the cannabis genome sequence. As a result, Anandia now holds intellectual property with significant commercial value that can be applied towards highly specialized and customized cultivar and product development. Dr. Page is also an accomplished inventor with 8 issued patents or patent applications, and a frequent lecturer on cannabis science at international conferences.
Aphria Inc. (TSX:APH.TO) (OTCQB:APHQF) and Perennial Inc. recently announced they have signed a Letter of Intent to form a joint venture (the "JV") to collaborate on the development of new products, brands and product categories that will drive the evolution of the Canadian adult-use cannabis market. It is expected that a definitive agreement formalizing the joint venture will be finalized within the coming weeks. The JV will be powered by Aphria's best-in-class cannabis production and Perennial's industry-leading expertise in strategic brand development. The two companies share a cultural commitment to relentless innovation. This proposed collaboration will focus on developing industry-leading product innovations and brands that cater to the needs and wants of targeted adult-use consumer segments. As the cannabis industry expands into new and highly-anticipated product categories, Perennial and Aphria believe that a committed, consumer-centric approach will enable the JV to remain on the leading edge of the cannabis industry.
Canopy Growth Corporation (NYSE:CGC) (TSX:WEED.TO) recently announced it issued $2,500,000 in common shares of Canopy Growth in connection with the expansion of an existing commercial arrangement at a price per share equal to the 5-day volume weighted-average price of the Company's common shares on the TSX ending on [August 10, 2018]. The Company also recently announced the acquisition of all remaining outstanding shares of its Chilean in-market entity, Spectrum Cannabis Chile SpA ("Spectrum Cannabis Chile"). This transaction brings Spectrum Cannabis Chile fully under the Canopy Growth umbrella and directly supports the Company's plans for development within the LATAM region which is home to more than 600 million people.
The Supreme Cannabis Company Inc. (TSX-V:FIRE.V) (OTCPK:SPRWF) Pure Global Cannabis Inc. (TSX-V:PURE.V) (OTCPK:PRCNF) a vertically-integrated, growth-oriented life sciences cannabis company, recently announced that its wholly-owned subsidiary, PureSinse Inc, has agreed to purchase from The Supreme Cannabis Company, Inc. ("Supreme") (FIRE.V) an additional 210kg of medical cannabis for resale. PURE's President & CEO Malay Panchal stated: "We are very pleased to secure a significant volume of additional product that meets our standards of quality from our great partner, Supreme. With this order, our company will have ample cannabis inventory to go to market within the next few months, in addition to enabling us to launch several clinical studies in specific therapeutic areas." PureSinse is one of the first Licensed Producers to receive a cultivation license prior to building out growing systems. Instead, the company focused its initial efforts and resources on R&D, and establishing sales, IT, and operational systems.
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