NEW YORK, January 16, 2019 /PRNewswire/ --
The cannabis industry has grown tremendously in recent years due to its widespread legalization. Many countries are taking steps towards utilizing cannabis for therapeutic effects. Despite the global expansion, the U.S. and Canada are expected to dominate the cannabis industry worldwide. The U.S. currently has 33 states and Washington D.C. that have legalized cannabis of some form while Canada has legalized cannabis entirely. According to Forbes, citing data compiled by ArcView Market Research, in partnership with BDS Analytics, the global legal cannabis trade was valued at USD 9.5 Billion, with the U.S. accounting for 90% of the market. By 2022, the U.S. cannabis market is expected to reach USD 23.4 Billion, accounting for 73% of the global market. The Canadian market is expected to be valued at USD 5.5 Billion, accounting for 17% of the global market, while the rest of the world represents USD 3.1 Billion, or 10%, of the industry. Biome Grow Inc. (OTC: BIOIF), The Alkaline Water Company Inc. (NASDAQ: WTER), Isodiol International Inc. (OTC: ISOLF), Auxly Cannabis Group Inc. (OTC: CBWTF), Aleafia Health Inc. (OTC: ALEAF)
According to the data, the recreational segment is expected to become the main growth driver for the global cannabis market, despite the having heavy limitations imposed on it globally. The medical segment dwindled from accounting for 100% of the market in 2013, to 71% in 2017. The report expects the medical segment to account for 41% of the overall industry in 2018 as Nevada, California, and Canada's adult-use thrive. "The entry of one of the largest alcohol and one of the largest tobacco companies into the cannabis sector as well as the Congressional passage of a Farm Bill legalizing growing hemp in the United States, were key to making 2018 a year of historical importance," said Troy Dayton, Chief Executive Officer of The Arcview Group. "This year, we also saw two of the world's three largest legal medical markets - California and Canada - transition to legal regimes that allow all adult consumers to buy cannabis, while voters in the other top-3 market - Michigan - approved a ballot measure to do the same."
Biome Grow Inc. (OTCQB: BIOIF) also listed on the Canadian Securities Exchange under the ticker (CSE: BIO). Earlier today, Biome Grow Inc. and its Nova Scotia based brand Highland Grow Inc. ("Highland Grow") announced breaking news having, "secured a second purchase order with the Nova Scotia Liquor Corporation ("NSLC") in less than a week.
The second shipment associated with this new purchase order left the High Grow facility Tuesday morning and is expected be on store shelves later this week. Through this shipment Highland Grow will introduce a fourth genetic offering into its local market and will continue to expand its genetic and product offerings throughout 2019.
Highland Grow successfully delivered its first shipment of finished product grown and packaged specifically for the local consumers in Nova Scotia to the NSLC on January 10th. It is the company's understanding the products in the first shipment were received well and sold quickly. Biome would like to thank the NSLC for highlighting its products as locally sourced through premium in-store positioning and related initiatives."
'The future of Nova Scotia's cannabis market is looking very bright,' said Khurram Malik, CEO of Biome Grow. 'We anticipated that consumers would be exploring the cannabis retail market looking for not only diverse offerings, but locally produced cannabis products and we were right. We believe this further validates Biome's mission to execute a localized approach.'"
The Alkaline Water Company Inc. (NASDAQ: WTER) has developed an innovative, state-of-the-art, proprietary electrolysis process that produces healthy alkaline water for a balanced lifestyle. The Alkaline Water Company Inc., with products bottled under the trademark Alkaline88®, recently announced that its wholly-owned subsidiary, A88 Infused Beverage Division, Inc., has entered into an exclusive formulation, development, and supply agreement with American Nutritional Products Inc., headquartered in Carson City, Nevada. This Agreement solidifies the Company's ongoing relationship with ANP to finalize the formulations for the Company's Cannabinol (CBD) and infused products. ANP has agreed to initially develop 5 to 7 functional waters including 3 to 4 in the CBD area and 2 to 3 in the vitamin and antioxidant segment. Each will be uniquely formulated to match both consumer demands and taste profiles. Under the terms of the Agreement, A88 Infused will be granted the exclusive right to products developed by ANP, which will be used in the development of the Company's new line of infused beverages. "For over 25 years, Maria Watson, President and Chief Executive Officer of ANP, has been an industry leader in the nutraceutical world. Her formulation team has over 40 years of experience in the development and marketing of infused beverages containing CBD, nutraceuticals, and organic flavoring, making them an ideal partner to work with in the development of our new line of products. We both recognized the synergies of our companies and this agreement was a logical extension of our recently signed co-packing agreement. The depth of knowledge and expertise provided by ANP will ensure that A88 Infused is able to introduce some of its infused beverages to market by the end of this calendar year," stated Richard A. Wright, President and Chief Executive Officer of The Alkaline Water Company.
Isodiol International Inc. (OTCQB: ISOLF) is focused on the nutritional health benefits that are derived from hemp and is a product development, sales, marketing and distribution company of hemp-based consumer products and solutions. Isodiol International Inc. recently announced it has entered into a binding letter agreement for the acquisition of Food Labs, Inc. and strategic investor relationship with Toba Capital LLC. The transaction for Food Labs is valued at USD 12 Million, which includes USD 5 Million cash on its balance sheet, and also brings the appointment of a new Chief Executive Officer and Chairman of the Board of Directors of Isodiol. Food Labs is a brand-focused innovator of hemp- and cannabis-based consumer products with a flagship line of full spectrum, hemp-oil based health and wellness products. The Food Labs management team has extensive experience bringing consumer products to mass retail, including in the ready-to-drink beverage market. Leading the Food Labs team is Michael Cancelleri who also will become Chief Executive Officer and Chairman of the Board of Directors of Isodiol upon closing the transaction. "Isodiol is the pioneer of so many firsts in CBD and other hemp extract ingredients that it is the obvious partner for Food Labs and our mutual growth in consumer markets," said Mr. Cancelleri. "I personally look forward to bringing my experience in mass retail investments to Isodiol and helping to shape Isodiol's expansion from the bulk wholesale of CBD to dominance in finished consumer goods, both as a contract manufacturer and as a brand leader."
Auxly Cannabis Group Inc. (OTCQX: CBWTF) is a vertically integrated cannabis company with diverse operations across Canada and Uruguay. Auxly Cannabis Group Inc. recently announced that, further to its previous releases, it has completed the acquisition of 80% of the outstanding common shares of Inverell S.A. The Transaction positions the Company as a leader in the global CBD economy with a highly efficient, low-cost source of cannabinoids for international distribution, including through the Company's strategic partnership with ICC International Cannabis Corporation Inc. (CSE: WRLD) which provides the Company with access to 16 markets through a network of 35,000 pharmacies. Importantly, the low cost, high purity CBD produced by Inverell gives the Company a long-term and stable supply of CBD to support the research, development and manufacturing of cannabis-derived products at Dosecann Inc., the Company's wholly-owned Licensed Processor facility located in Prince Edward Island, Canada. Hugo Alves, President and Director of Auxly Cannabis Group, commented: "We are incredibly pleased with progress that Inverell has made on the cultivation of its 2019 crop of CBD-rich hemp and on the broader development of the business as a stand-alone entity in the Auxly platform. In a very short period, Inverell has exceeded its 2018 planting target of 150 hectares of hemp plants and has made significant strides forward on the development of its world-class extraction facility located in the Parque de las Ciencias. We continue to believe that the low cost and high volume access to CBD molecules, through our ownership in Inverell, positions Auxly to be a leader in the global value-added cannabinoid-based product markets."
Aleafia Health Inc. (OTCQX: ALEAF) is a leading, vertically integrated cannabis company with major cannabis cultivation & processing and medical cannabis clinics business operations. Aleafia Health Inc. and Emblem Corp. are pleased to announce that they have entered into a definitive agreement under which Aleafia will acquire, by way of a plan of arrangement under the Canada Business Corporations Act, all of Emblem's issued and outstanding common shares in an all-share transaction currently valued at approximately USD 173.2 Million. The proposed Transaction creates a new Canadian medical cannabis leader. It will operate the country's largest national clinic network and enjoy improved operational scale with planned annual capacity of approximately 138,000 kg (including committed supply agreements), Canadian and expanded global distribution, and a robust branding and product development platform. Aleafia intends to capitalize on high growth opportunities and leverage international expansion across four verticals: Cannabis Production, Health and Wellness, Cannabis Education and the Consumer Experience. "The Emblem acquisition rapidly accelerates the execution of Aleafia's strategy to become a vertically integrated, diversified cannabis company. It is difficult to overstate the significance of securing the highest quality medicine for our patients and Aleafia," said Aleafia Health Chief Executive Officer Geoffrey Benic. "Emblem's product leadership in the medical and adult-use sectors and highly coveted supply agreements will perfectly complement Aleafia's cannabis production and clinic operations. This is a transformative transaction that positions Aleafia as a global cannabis leader."
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