NEW YORK, December 29, 2017 /PRNewswire/ --
According to a report by Ameri Research Inc., the global legal cannabis market is forecast to be valued at $63.5 billion by 2024, growing at a CAGR of 21.1% between 2017 to 2024. The market is going through a period of strong growth thanks to increasing legalization and decriminalization of cannabis products across North America and Europe. In the U.S, there are 28 states which have approved the use of cannabis for medical purposes. In major markets like Colorado, California, Alaska, Massachusetts and Nevada cannabis is also legal for recreational use. Earlier this year, the Canadian prime minister has introduced a bill to legalize cannabis for recreational use. The report indicates that the proposed bill mandates the legal age for consumption of cannabis at 18 years, and it provides clarity on the federal and state laws regarding the regulations on cultivation, storage and distribution of cannabis across the country. FinCanna Capital Corp. (CSE: CALI), Cannabis Wheaton Income Corp. (OTC: CBWTF), Liberty Leaf Holdings Ltd. (OTC: LIBFF), Friday Night Inc. (OTC: TGIFF), Future Farm Technologies Inc. (OTC: FFRMF)
The state of California alone is expected to play a significant role in the development of the industry. A report published by New Frontier Data projects that legal cannabis sales in California will reach $2.8 billion in 2017 and $6.6 billion by 2025, with a compound annual growth rate of 12% over the next eight years. Giadha Aguirre de Carcer, New Frontier Data CEO explained, "Significant changes are already underway in California for medical cannabis and adult use laws, which we see will have major implications for the cannabis industry, including ecommerce and delivery services in the state… As the largest state in the country - and the largest potential market for cannabis products - the implications for the growth of the industry because of California's adult use market cannot be overstated."
FinCanna Capital Corp. (CSE: CALI) today announced that it will commence trading on the Canadian Securities Exchange under the trading symbol "CALI". The company announced breaking news that, "FinCanna is supporting the greater medical use of cannabis while benefitting from the growth in the market by investing in top-tier licensed medical cannabis companies in California. In exchange for financing, FinCanna will receive royalties from these licensed medical cannabis and related operations.
To date, FinCanna has completed approximately $14M CDN in financing to support its flagship investment in Cultivation Technologies ("CTI"). Based in Irvine, California, CTI is developing a very significant, state-of-the-art medical cannabis project and has already secured permits to construct a fully-entitled, 111,500 sf. permitted medical cannabis facility on a six-acre property in Coachella, Southern California.
Andriyko Herchak, CEO & Director, states, "We are very excited to apart of the growing industry of medicinal cannabis and our public listing offers investors increasing access to growing cannabis operations in the United States, particularly California. While the legalization of recreational Cannabis is highly anticipated in California, we remain focused on our core competency of sourcing and financing ethical, medicinal and regulated cannabis businesses to leverage the paradigm shift in the industry."
FinCanna is initially focused on California since it is the sixth largest economy in the world and the largest medical cannabis market in North America. Analysts estimate the State's legal cannabis industry will grow at a 21.1% CAGR to $6.5 billion by 2020, and generate upwards of $1 billion in tax revenue. New laws that come into effect in January 2018 are expected to significantly change existing supply and demand dynamics."
Cannabis Wheaton Income Corp. (OTCQB: CBWTF) is the first cannabis streaming company in the world. Earlier this year, the company announced that it has entered an exclusive distribution alliance with the corporate owner of a national chain of independent pharmacies to develop and implement medical cannabis distribution and retail sale opportunities at all Pharmacy Group locations. Hugo Alves, President of Cannabis Wheaton stated, "We have been closely monitoring how the distribution of cannabis will play out in each of the individual provinces in Canada and how those provincial distribution systems may impact our streaming partners and our production yield allocations. Our goal is to ensure that Cannabis Wheaton and its streaming partners have opportunities to participate in distribution channels which allow them to maintain contact with customers and capture a portion of the retail margin from sales to those customers."
Liberty Leaf Holdings Ltd. (OTCQB: LIBFF) is a new Canadian-based, public company whose focus is to build and support a diversified portfolio of cannabis-sector businesses, including cultivation, processing, value-added CBD/THC pet products, and supply-chain products within this dynamic and fast-growing sector. On December 7, 2017, the company announced it has acquired a majority interest in Just Kush Enterprises, a company in the final stages of obtaining an Access to Cannabis for Medical Purposes Regulations (ACMPR) licence. As well, Just Kush owns complete control over a current Medical Marijuana Access Regulations (MMAR)-licensed production facility.
Friday Night Inc. (OTCQB: TGIFF) is a Canadian public company, which owns and controls cannabis and hemp based assets in Las Vegas Nevada. The company owns 91% of Alternative Medicine Association, LC (AMA), a licensed medical and adult-use cannabis cultivation and production facility that produces its own line of unique cannabis-based products and manufactures other third-party brands. Infused MFG, also a 91% owned subsidiary, produces hemp-based, CBD products, thoughtfully crafted of high quality organic botanical ingredients. FridayNight Inc. is focused on strengthening and expanding these operations within and outside of the state. Recently, the company and Body & Mind Inc. announced an all-stock acquisition valuing BAM at approximately CAD $115,000,000 based on the recent closing price of Friday Night.
Future Farm Technologies Inc. (OTCQB: FFRMF) is a Canadian company with projects throughout North America including California, Florida and Maryland. The Company's business model includes developing and acquiring technologies that will position it as a leader in the evolution of Controlled Environment Agriculture (CEA) for the global production of various types of plants, with a focus on cannabis. On December 21, 2017, the company announced it has signed a lease agreement for 100-acres in Maine, thereby doubling its previously announced purchase of 120-acres of a licensed industrial hemp farm. As part of the lease agreement, the Company has an option to lease up to an additional 1,000-acres from the Landlord. The Company also announces that it is preparing to set up a hemp cloning operation, which will use vertical farming technology pioneered by the Company to supply over 200,000 clones to the farm in 2018.
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