Recreational-Use Segment of Legal Cannabis Market Expected To Be Fastest-Growing Segment Through 2028

PALM BEACH, Fla., Oct. 7, 2021 /PRNewswire/ -- The global legal cannabis market has exhibited substantial growth over the past few years and looks destined to continue this growth in the next several years. Owing to recent legalization in several parts of the world, the usage of cannabis is gaining momentum for medical purpose. Medical cannabis is used for the treatment of various chronic conditions, such as Parkinson's disease, Alzheimer's disease, arthritis, cancer, depression, anxiety, epilepsy, and other neurological conditions. Thus, a wide application scope has led to an increased product demand for the treatment of various chronic conditions.    A report from Research And Markets said: "In addition, due to cannabis being slowly accepted in various countries, some developed countries, such as Canada, Uruguay, and certain states of the U.S., have gone a step further and legalized the recreational use of cannabis. As recreational cannabis is easily available in the market with an economical price tag, the demand for the same has increased exponentially. This is expected to increase cannabis cultivation to suffice the growing demand. However, the COVID-19 pandemic has adversely affected the market growth owing to the imposition of lockdown, limiting consumers from visiting brick-and-mortar shops."  Active Companies active today in the cannabis related markets include:  Item 9 Labs Corp. (OTCQX: INLB), Curaleaf Holdings, Inc. (OTCQX: CURLF) (CSE: CURA), Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB), Ayr Wellness Inc. (OTCQX: AYRWF) (CSE: AYR.A), Trulieve Cannabis Corp.  (OTCQX: TCNNF) (CSE: TRUL).

Research And Markets continued: "Based on the sources, the marijuana segment accounted for the highest revenue share in 2020 and is expected to exhibit the fastest growth rate during the forecast period. This can be attributed to increased awareness about its medical benefits and easy availability. For instance, Marijuana oil is used for the treatment of cancer and nausea and can also be used for the improvement of the sleep cycle and alleviating stress, pain, and anxiety. Decriminalization and legalization of medical marijuana in some countries have led to significant shrinkage in the black market.  Moreover, the high efficacy of marijuana-derived CBD is one of the pivotal factors accountable for the segment's large share. The usage of cannabis for medical applications has witnessed an expansion with rising support, among the scientific community, due to its benefits in various treatment processes. In recent years, numerous countries have legalized medical cannabis, but its prescription is dependent on the demand of the patient and physician's preference. The recreational-use segment is expected to be the fastest-growing segment during the forecast period."

Item 9 Labs Corp. (OTCQX: INLB) Item 9 Labs Corp. to Acquire Colorado Dispensary, Kickstarts National Acquisition Growth Plan  - Item 9 Labs Corp. ("Item 9 Labs," or the "Company"), a vertically integrated cannabis dispensary franchisor and operator that produces premium, award-winning products—today announced it has signed an Asset Purchase Agreement ("APA") for an existing dispensary license and storefront in Adams County, CO.

This will be the first corporate-owned shop under its cannabis dispensary franchise brand, Unity Rd., and is anticipated to open within the next 4-6 months. Currently, the Company is awaiting regulatory approval by Colorado's Marijuana Enforcement Division ("MED").

This APA is part of an overarching acquisition strategy that is intended to accelerate national expansion by creating turnkey investment opportunities for Unity Rd. franchise partners. The Company plans to convert acquired dispensaries into Unity Rd. shops, operate them internally and sell them to an existing or future franchise partner. This offers an expedited solution for entrepreneurs seeking immediate entry into cannabis. The Company's dispensary acquisition program spans the entire state of Colorado, initially seeking opportunities in Denver, front range and compelling mountain towns.

"Our eyes are set on Colorado and building up the Unity Rd. brand to become one of the main players in the market," said the Company's Chief Strategy Officer, Jeffrey Rassas. "We're in multiple ongoing negotiations with other Colorado dispensaries to become Unity Rd. shops. Here's to the first of many."

Item 9 Labs Corp. is also targeting the Arizona, Montana and Oklahoma markets as part of these development efforts. Through its Unity Rd. dispensary franchise, the Company is focused on building a national community of local dispensary owners who open their doors each day compliantly and with confidence because of the tools, products, systems and training their team provides.

"With Unity Rd., we're keeping dispensary ownership local and thriving with the backing of a franchise system, Rassas added. "This growth plan ultimately keeps dispensary ownership in the hands of the local entrepreneur. They hire local and keep the wealth cannabis offers within their community."  CONTINUED… Read the full Press Release that includes more Financial Results details for INLB at:  https://www.financialnewsmedia.com/news-inlb

In other active company news in the markets this week: 

Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB), the Canadian company defining the future of cannabinoids worldwide, has recently launched Bidiol, the first medical cannabis oil in Uruguay that is wholly produced domestically. The CBD oil is available in 3% and 10% concentrations and comes in 10mL and 30mL bottles, available in pharmacies across the country.

"The launch of Bidiol has been two years in the making and is an integral part of our renewed strategy in Uruguay," said Miguel Martin, Chief Executive Officer of Aurora Cannabis. "We have prioritized key international markets with the potential to meaningfully expand their patient base. Our efforts include working alongside governments and local partners to do what works best in each market. There isn't a one size fits all strategy – our approach must be smart and domestically relevant."

Ayr Wellness Inc. (OTCQX: AYRWF) (CSE: AYR.A), a vertically-integrated cannabis multi-state operator (MSO), recently announced it has closed, through a wholly owned subsidiary, on the purchase of 100% of the membership interests of PA Natural Medicine, LLC ("PA Natural") an operator of three licensed retail dispensaries, deepening Ayr's presence in the rapidly growing medical market in the Commonwealth of Pennsylvania.

The acquisition of PA Natural adds key dispensary locations in central PA, including the college towns of Bloomsburg and State College, as well as Selinsgrove. In keeping with the Company's retail strategy, the stores will be rebranded to "Ayr" from the existing "Nature's Medicine" banner by year-end.

Trulieve Cannabis Corp.  (OTCQX: TCNNF) (CSE: TRUL), and Harvest Health & Recreation Inc. ("Harvest") (CSE: HARV, OTCQX: HRVSF) recently announced the completion of the previously announced arrangement, pursuant to which Trulieve acquired all of the issued and outstanding subordinate voting shares, multiple voting shares and super voting shares (collectively the "Harvest Shares") of Harvest (the "Transaction").

"The closing of this Transaction marks a transformational milestone in our company's history and positions Trulieve as the leading medical and adult-use cannabis operator in the U.S.," stated Kim Rivers, CEO. "I thank all our employees, both Trulievers and Harvesters, for their tireless efforts during this process. The combined footprint provides Trulieve with a solid foundation for continued growth and scale. We look forward to fully integrating Harvest as we continue to execute on our hub strategy in the U.S., creating an unrivalled brand and reputation in the marketplace and value for our shareholders."

Curaleaf Holdings, Inc. (OTCQX: CURLF) (CSE: CURA), a leading international provider of consumer products in cannabis, has recently successfully completed the previously announced acquisition of Los Sueños Farms and its related entities ("Los Sueños"), the largest outdoor grow in Colorado.

Boris Jordan, Executive Chairman of Curaleaf, stated, "We're very excited about the closing of the Los Sueños acquisition. The vertical integration of our business in Colorado significantly strengthens Curaleaf's market presence in the second largest state cannabis market in the U.S. This deal provides Curaleaf with a high-quality, efficient, and low-cost supply of biomass to support our wholesale and retail customers in Colorado and, once interstate commerce is allowed, on a regional scale. Overall, our newly expanded cultivation capacity will allow us to better serve Colorado's $2.2 billion annual cannabis market opportunity."

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