NEW YORK, June 16, 2017 /PRNewswire/ --
A research by 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. That will grow the $6.7 billion market of 2016 at a robust 27% CAGR to $22.6 billion in 2021. The report indicates that the 20+% annual growth rate is likely to continue for many years past 2021 as more states and countries legalize cannabis. Recent data shows that nearly 1.9 million North Americans are legally using cannabis to manage conditions as severe as polymorphic seizures and as common as chronic pain, while millions more are consuming it legally in adult-use states with little or no negative impact. Maple Leaf Green World Inc. (OTC: MGWFF), Aurora Cannabis Inc. (OTC: ACBFF), Canopy Growth Corporation (OTC: TWMJF), Organigram Holdings Inc. (OTC: OGRMF), Aphria Inc. (OTC: APHQF).
Polls show that 80% of Americans approve of legal access to medical cannabis and 60% approve of full adult-use legalization. Arcview points out that such level of agreement is rare on any policy issue and it's allowing elected oﬃcials across the political spectrum to start to move past the stigma previously associated with this issue. The biggest political win of the U.S. election, the report claims, came in California, the state that pioneered the modern cannabis policy reform movement in 1996 when voters passed Proposition 215, the Compassionate Care Act. Though voters failed to approve adult-use in 2010, they voted overwhelmingly in 2016 to make adult-use legal in a state that represents the world's sixth-largest economy.
Maple Leaf Green World Inc. (OTCQB: MGWFF) also listed on the TSX Venture Exchange under the ticker symbol MGW. On June 14th the company announced that it has signed up with Paramount Structures Inc. ("PSI") to commence construction immediately on its cannabis cultivation facility located in Telkwa, British Columbia (the "B.C. Facility").
The time schedule presented by PSI indicates that design, engineering and procurement will begin immediately for the B.C. Facility, followed by site preparation in mid-August 2017. The estimated completion date of the building envelope is estimated to occur in early December 2017. The Company and PSI are working in conjunction to finalize the interior design of the B.C. Facility. It is expected that the interior construction and the installation of cultivation equipment and lighting will commence concurrent with completion of the building envelope. Progress reports for the B.C. Facility will be announced and posted on the Company's website when it becomes available.
Health Canada has introduced several improvements that aim to streamline the licensing of medical cannabis producers, which includes prioritizing those applicants with built out schedule and issuing license without prior inspection upon proof of completion of built out. As such, the management of the Company believe that Maple Leaf will be able to successfully obtain the Access to Cannabis for Medical Purposes Regulations (the "ACMPR") license around the end of 2017 as originally planned.
"We are very pleased that we have retained two very capable and experienced consultants; PSI and CCI, to assist us in completing the final stages of obtaining the ACMPR license and for putting us back on track with our time table, despite an unexpected delay in the early part of this year," said Raymond Lai, President & CEO of Maple Leaf.
Aurora Cannabis Inc. (OTCQX: ACBFF) is a licensed producer of medical cannabis pursuant to Health Canada's Access to Cannabis for Medical Purposes Regulations ("ACMPR"). On June 8th, Aurora along with Hempco Food and Fiber Inc. provide additional clarification on the call option that Aurora intends to negotiate with the two majority shareholders of Hempco to acquire, in conjunction with the Company's participation in Hempco's private placement, an interest in Hempco of up to 31,872,292 shares of Hempco. Hempco is a provider of premier hemp seed foods for over 15 years.
Canopy Growth Corporation (OTC: TWMJF) is a world-leading diversified cannabis company, offering diverse brands and curated cannabis strain varieties in dried and oil extract forms. Earlier this month, the company welcomed PUF Ventures Inc. ("PUF"), a London-Ontario-based late-stage ACMPR applicant, to its curated CraftGrow line. Pending a license to cultivate and sell cannabis products, PUF will become the fourth company to join CraftGrow. The program accelerates speed to market for newly licensed producers and provides brand and product exposure by selling partner products to the market's largest group of actively registered customers.
Organigram Holdings Inc. (OTCQB: OGRMF) is focused on producing the highest quality, condition specific medical marijuana for patients in Canada. The company recently announced the finalized acquisition of Trauma Healing Centers Incorporated ("THC") with a final transaction date of June 1, 2017. As previously communicated, THC will join the Organigram group thereby consolidating two leading medicinal cannabis players within the industry. THC will continue to operate independently by providing referrals based on client need to any licensed producer in Canada. "We are excited to complete the formal acquisition process and look forward to continuing our working relationship with THC and their staff," said Greg Engel, CEO of Organigram. "Over the past two years, both companies have worked very well together and we're excited to further our work in supporting medical cannabis patients across Canada."
Aphria Inc. (OTCQB: APHQF) is one of Canada's lowest cost producers, produces, supplies and sells medical cannabis. Recently, the company and Securecom Mobile Inc. ("Liberty") announced the successful first step of their previously announced U.S. expansion strategy. Aphria, through a strategic investment into DFMMJ Investment Ltd. ("DFMMJ"), a special purpose private company, entered into an exclusive Management Agreement with Chestnut Hill Tree Farm, LLC ("Chestnut"). DFMMJ's intends to continue to target, for expansion, key U.S. states that have approved medical use of marijuana and meets its stringent investment criteria. Chestnut is a Florida nursery authorized by the Florida Department of Health, Office of Compassionate Use ("Department"), as a dispensing organization of medical cannabis to patients in need in the State of Florida. Chestnut holds one of seven licenses granted in Florida, which currently represents approximately 14% of the U.S. medical cannabis market with a total estimated market size at maturity, as calculated by ArcView Market Research, of over $1.1 billion.
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