NEW YORK, May 16, 2019 /PRNewswire/ -- All over the world, the debate over cannabis' ability to replace traditional medicines goes on as more medicinal applications continue to emerge. A handful of countries have already adopted medical cannabis programs due to the positive results of multiple extensive studies, while others, however, still remain on the fence. Nevertheless, countries such as Australia, Canada, France, Germany, and large swathes of the U.S. have already implemented medicinal cannabis legislation. According to Healthline, marijuana, a derivative of the cannabis plant, has been used to treat chronic pain as far back as 2900 B.C. However, international government bodies classified cannabis and its derivatives as a narcotic due to the psychoactive effects caused by its THC compound. In order to overturn the classification, medical institutions and researchers have begun conducting clinical trials to evaluate the efficacy of the plant and its chemical components. Now, scientists have discovered that certain components of the cannabis plant, such as CBD and THC, are heavily linked to the successful treatment of a variety of medical conditions. The human body contains a biological system dubbed the endocannabinoid system which is connected to biological functions such as sleep, appetite, pain, and the immune system response. The human body naturally produces these endocannabinoids, which are neurotransmitters that bind to cannabinoid receptors in the nervous system. As a result, studies have shown that cannabinoids can effectively suppress pain, stimulate appetite, or alleviate depression. Currently, the medical cannabis sector accounts for the majority of the global cannabis market because of its widespread adoption. However, researchers have suggested that a larger shift from medical to recreational cannabis is expected to occur as countries like Canada and the U.S. ramp up their adult-use programs. Nonetheless, despite the ongoing development within the recreational market, medical cannabis will continue to be more readily available and accessible to consumers around the globe. According to data compiled by Mordor Intelligence, the global cannabis market was valued at USD 14.5 Billion in 2018. By 2024, the market is projected to reach USD 89.1 Billion while exhibiting a CAGR of 37% during the forecast period from 2019 to 2024. Trutrace Technologies Inc. (OTC: BKKSF) (TSX-V: TTT), India Globalization Capital, Inc. (NYSE-A: IGC), Auxly Cannabis Group Inc. (OTC: CBWTF) (TSX-V: XLY), InMed Pharmaceuticals, Inc. (OTC: IMLFF) (TSX: IN), Invictus MD Strategies Corp. (OTC: IVITF) (TSX-V: GENE)
Traditionally, most users consume cannabis via smoking. However, with further development of the marketplace, companies have begun developing new products. Notably, cannabis extracts are becoming some of the most popular products within the market space as they can be processed in many different ways and all provide different end products. For instance, kief is the simplest form of extracts and is composed of trichomes broken off the dried plant. On the other hand, butane hash oil (BHO) is a concentrate made using butane as the main solvent. Kief and BHO can differ heavily in their THC makeup due to their extraction process as kief can contain anywhere from 20% to 60% THC levels, while BHO can contain as much as 80% to 90% THC levels. There are also many other forms of extracts such as hash, supercritical CO2 oil, and rosin and they all have different extraction methods. The products are also popular with both recreational and medical consumers because of their potent effect. Extracts like BHO and rosin are especially popular among medical patients because of the high THC levels that help alleviate chronic illnesses. Extracts like kief and hash are more popular among recreational users due to the much simpler extraction process. "Today, extracts are more popular than ever. Dispensaries that use the cannabis database Leafly to organize their inventories have added 300,000 concentrate items to their offerings since the beginning of the year—an almost 600 percent increase over the same period last year. To keep up with demand, extraction labs and equipment manufacturers have developed increasingly sophisticated apparatuses to produce the stuff, and safer, higher-volume production methods," according to Robbie Gonzales, Senior Writer at WIRED and former Senior Science Editor at Gizmodo.
Trutrace Technologies Inc. (OTC: BKKSF) (TSX-V: TTT) is also listed on the TSX Venture Exchange under the ticker (TSX-V: TTT). Just announced breaking news this morning that, "it has entered into a letter of intent dated May 15, 2019 with Nonnie's Nectar, LLC, a Los Angeles based hemp extract company that produces premium full-spectrum hemp-based products grown in the U.S.A. using organic farming practices, to employ the StrainSecure™ platform to collect, register, manage, track and publish verified testing data of several of their products in the market.
Under this arrangement TruTrace will produce a unique quick-response (QR) code for each associated SKU, which will then render real-time test results of each product on StrainSecure's hosted solution. Customers will be given dynamic information on the products they are holding in their hands while still in the store. Upon completion of the collection and registration of the products, Nonnie's Nectar will then be able to guarantee the contents, origin and quality of their products. The LOI will be superseded by a formal agreement and the transactions contemplated therein are subject to the approval of the TSX Venture Exchange.
"Our step forward with Nonnie's Nectar is an illustration of the growing traction that our proprietary software is gaining, and the value of secure and verified testing data for this growing industry. Companies throughout the hemp and cannabis industries are recognizing the inherent and significant value in protecting and publishing the quality of their crafted products," said TruTrace Technologies Chief Executive Officer and Director, Robert Galarza. "With our unique technology, Nonnie's Nectar will soon be able to guarantee the safety and potency of their full-spectrum hemp extract products and support their mission of creating the highest quality extracts with no solvents, heavy metals or pesticides"
"TruTrace Technologies will enable us to guarantee that our products contents, purity and potency are exactly as labelled, providing our customers with level assuredness about our dedication to quality control," said Ryan Beers, Chief Executive Officer of Nonnie's Nectar. "
About TruTrace Technologies: TruTrace Technologies has developed the first integrated blockchain platform to register and track intellectual property in the cannabis industry. TruTrace's technology allows cannabis growers and breeders to identify and secure rights to their intellectual property. It also streamlines the administrative process and reduces the costs of genetic and mandatory quality-control testing for legal cannabis. TruTrace's technology is proprietary, immutable and cryptographically secure, thereby establishing a single-source, accurate, validated and permanent account for cannabis strains from ownership to market.
About Nonnie's Nectar: Nonnie's Nectar is a line of premium organic hemp extract CBD products. Its products are already in market and currently being sold across the US in natural grocery stores as well as online. Nonnie's Nectar has already proven market fit and consumer demand, with more than half a million in sales in 2018 alone and perfect 5-star product reviews on each and every product it sells
Nonnie's Nectar is led by a management team with deep knowledge and experience in both the cannabis and health and wellness industries. Ryan Beers, the Company's CEO and product visionary, boasts more than 10 years of experience in retail cannabis products and was an early innovator in the cannabis consumer vaping industry. Ryan was inspired to create a THC-free CBD capsule (Nonnie's Nectar's first product) to help his grandmother ("Nonnie") avoid seizures associated with late-onset epilepsy, and that's when he witnessed first-hand the incredible potential health benefits of CBD. Oriana Leo, Co-Founder and Chief Strategy Officer, an experienced sales and marketing executive with deep experience in the health and wellness industry, leads the Company's efforts to rapidly expand its retail footprint, wholesale partnerships and online consumer demand."
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India Globalization Capital, Inc. (NYSE-A: IGC) has two lines of business: infrastructure and hemp/cannabinoid derived products. India Globalization Capital, Inc. recently hosted two educational conferences in two of the largest cities in Puerto Rico on April 27, 2019 (San Juan) and April 28, 2019 (Ponce) from 9:00 a.m. to 5:00 p.m. each day. These full-day events featured presentations for physicians in the morning and provide programs tailored to technicians, patients, and caregivers in the afternoon. These events are part of a series of educational initiatives IGC is hosting in support of Hyalolex™, the Company's cannabinoid-based product designed to help improve the lives of patients suffering from Alzheimer's disease, as well as improve the lives of caregivers. By hosting these conferences, the Company obtained direct feedback from physicians, patients, caregivers, and the owners of dispensaries. The IGC formulation delivers micro doses of cannabinoids with the goal of helping to manage Alzheimer's -related symptoms such as anxiety, aggression, and sleep disorder, and it is intended to provide improvement in the quality of life for patients. One particular aspect that we hope to address is that of caregiver distress. The Company proposes to conduct clinical trials as part of its strategy to develop pharmaceutical products. "The launch of Hyalolex™ in a smaller controlled environment like Puerto Rico allows us to develop and refine a market penetration strategy and financial model for the product that can then be scaled to other parts of the country that possess significantly larger addressable Alzheimer's populations," stated Ram Mukunda, Chief Executive Officer.
Auxly Cannabis Group Inc. (OTCQX: CBWTF) (TSX-V: XLY) is a vertically integrated cannabis company with diverse operations across Canada and Uruguay and a platform spanning the entire cannabis value chain. Auxly Cannabis Group Inc. recently announced that its wholly-owned subsidiary, Robinsons Cannabis Inc., has been granted standard cultivation and processing licenses by Health Canada pursuant to the Cannabis Act and Cannabis Regulations. The licenses give Robinsons the ability to begin cultivation at its fully constructed 27,700 sq. ft. facility in Kentville, Nova Scotia, which was purpose-built to produce high-quality cannabis. Led by experienced head grower Andrew Robinson, Robinsons is uniquely positioned to capture the attention of luxury cannabis consumers, with operations built on a devotion to uncompromising quality and a premium cannabis experience. Robinsons products have consistently ranked the highest in terms of cannabinoid content, terpene content and overall quality when independently tested against 5,000 products supplied by various growers licensed in accordance with Canadian cannabis regulations. Hugo Alves, President of Auxly said: "This is a big milestone for one of our key subsidiaries and member of the Auxly family. We know that Andrew and his team are going to produce some of the best cannabis flower available in Canada and we can't wait to share it with Canadian consumers. Robinsons is all about an unwavering commitment to quality. We hope to show cannabis connoisseurs, who to date have been generally disappointed with the flower offerings in the market, that passionate artisans operating in the regulated industry can produce an incredible product that reflects their pride and craftsmanship."
InMed Pharmaceuticals, Inc. (OTCQX: IMLFF) (TSX: IN) is a biopharmaceutical company developing a proprietary biosynthesis system for the manufacturing of pharmaceutical-grade cannabinoids, as well as a pipeline of cannabinoid-based medications that target diseases with high unmet medical needs. InMed Pharmaceuticals Inc. recently announced the publication of the first in a series of pending patent applications directed to the Company's biosynthesis platform technology for the manufacturing of pharmaceutical-grade cannabinoids. International Patent Application No. PCT/CA2018/051074, which recently published as WO2019046941, entitled 'METABOLIC ENGINEERING OF E. COLI FOR THE BIOSYNTHESIS OF CANNABINOID PRODUCTS', addresses the enablement and maximization of cannabinoid production through optimization of the precursor substrates needed to support specific cannabinoid synthesis. This application, as well as two more recently-filed U.S. provisional patent applications, also cover various elements required to enable functional cannabinoid synthase production in an E. colisystem. The Company will actively seek to convert these two follow-on provisional applications, and subsequent provisional patents from new patent families, into additional Patent Cooperation Treaty ("PCT") applications in all major commercial jurisdictions, in due course. Eric Hsu, PhD, InMed's Senior Vice President, Preclinical Research and Development, stated, "The publication of our initial patent and the filing of two additional provisional patent applications supports InMed's continued expansion of intellectual property coverage for our proprietary biosynthesis program. InMed will continue to position itself at the forefront of this and other innovative technologies to enable the manufacturing of pharmaceutical grade cannabinoids through biosynthesis."
Invictus MD Strategies Corp. (OTCQX: IVITF) (TSX-V: GENE) is a global cannabis company offering a selection of products under a wide range of brands. Invictus MD Strategies Corp. recently announced that it had entered into a letter of intent to form a Joint Venture with Gene Simmons, Simmons' MoneyBag Sodas and Rock Steady Sodas, Inc. to develop a line of non-alcoholic, CBD-infused beverages for distribution in the United States and Canada. Economics of the JV will be determined over the next 60 days as the Parties finalize due diligence. Each of the Parties will contribute the following to the JV in exchange for their respective economic interest: Invictus will contribute procurement of CBD and contracted expertise in infusing beverages; Simmons and MoneyBag™ will contribute the license to use the trademark Simmons MoneyBag™ Sodas; and Rock will contribute expertise with existing premium soda recipes to be used with CBD and generations of bottling and distribution experience. "Based on his successes on and off the stage, we initially approached Gene to become Chief Evangelist Officer of Invictus, but his role has grown far beyond that," said George E. Kveton, Chief Executive Officer of Invictus. "Simmons' MoneyBag Sodas are exceptional, and working with Rock and their notable distribution channels, new line of CBD infused sodas will catapult our growth and position in the CBD beverage space."
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