NEW YORK, March 26, 2018 /PRNewswire/ --
Based on data provided by Arcview Market Research, legal cannabis sales in North America totaled $6.7 billion in 2016 and are projected to grow at a compound annual growth rate of 25 percent to an estimated $20.2 billion by 2021. The demand of cannabis from legal markets is expected to increase as more states legalize either recreational or medical use. Another report from Arcview Market Research examines the economic multiplier effects through which US consumer spending on legal cannabis in 2021 of $20.8 billion will generate $39.6 billion in overall economic impact, 414,000 jobs, and more than $4 billion in tax receipts. Arcview also projects that by 2021, the legal cannabis market will reach a value of $24.5 billion and at a 28% compound annual growth rate (CAGR). Pivot Pharmaceuticals Inc. (OTC: PVOTF), Innovative Industrial Properties, Inc. (NYSE: IIPR), Canopy Growth Corporation (OTC: TWMJF), Organigram Holdings Inc. (OTC: OGRMF), Cannabis Sativa, Inc. (OTC: CBDS)
Viridian Capital President Scott Greiper told Benzinga that the cannabis industry received $1.23 billion investments in the first five weeks of 2018, up from $178 million a year earlier. Viridian Capital Advisors' Vice President Harrison Phillips said: "Investments in cultivation and retail this year have been driven predominantly by the Canadian player. This has been happening pretty consistently from late 2016 through 2017. This reflects the necessity to scale cannabis businesses, to get some kind of advantage, and to explore strategic opportunities, both through acquisitions and international expansion."
Pivot Pharmaceuticals Inc. (OTCQB: PVOTF) also listed on the Canadian Stock Exchange under the Ticker (CSE: PVOT). On March 19th the company announced breaking news that, "effective March 16th, 2018 the Company has been named to the CSE25 Index, a composite of the 25 largest companies, as measured by market capitalization, listed on the Canadian Securities Exchange. In addition, the Company is also a constituent of the CSE Composite Index."
"With an impressive pipeline of bio-cannabis products, a strong intellectual property portfolio of formulation and delivery technologies, and the expected addition of ACMPR licensed Agro-Biotech, we are proud to be recognized as leaders on the Canadian Securities Exchange through our inclusion in the CSE25 Index," said Dr. Patrick Frankham, Chief Executive Officer of Pivot Pharmaceuticals. "Being among the top 25 performers on the exchange validates our business strategy to become a vertically integrated health and wellness company with a rapidly expanding international presence. With all of the exciting opportunities ahead of us, we believe we will remain a consistent part of the CSE25 Index for years to come as we continue to drive shareholder value."
Innovative Industrial Properties, Inc. (NYSE: IIPR) is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated medical-use cannabis facilities. Innovative Industrial Properties acquires freestanding properties that are used for growing licensed medical-use cannabis and operated by state licensed growers. The properties are then leased back to the growers under long-term, net lease agreements. The company target growers that have gone through the rigorous state licensing process and have been granted a license in the state where the property is located. In 2017, the company announced that it closed on the previously announced acquisition of the property located at 5900 West Greenhouse Drive in Willcox, Arizona, which comprises approximately 358,000 square feet of greenhouse and industrial space.
Canopy Growth Corporation (OTC: TWMJF) is a world leading diversified cannabis company. In February, the company announced the signing of a definitive supply agreement with Sunniva Inc. Through the terms of this two-year agreement, Canopy Growth will purchase up to 90,000 kilograms of dried cannabis from Sunniva's wholly-owned Canadian subsidiary, Sunniva Medical Inc., a late-stage Access to Cannabis for Medical Purposes Regulations ("ACMPR") applicant, and sister company of Natural Health Services, the sector's largest non-Licensed Producer medical patient network with tens of thousands of active registrations in the ACMPR. Sunniva is developing a 700,000 sq. ft. GMP-certified greenhouse facility in British Columbia which will act as the primary production facility to meet their supply goals. The facility will produce cannabis products to supply the current medical market and the upcoming legalized recreational market in Canada.
Organigram Holdings Inc. (OTCQB: OGRMF) is a leading licensed producer of medical marijuana based in Moncton, New Brunswick. In February, the company announced that it has received an expanded cultivation license from Health Canada related to its previously announced Phase 2 expansion. As a result of this approval, cannabis plants were moved into these new rooms on a rolling basis beginning on February 10, 2018. The Company will be in a position to begin staggered harvests from these new rooms by the third week of April. The remaining 13 rooms are expected to come on line by March 10 pending Health Canada approval. With the company's unique three-level canopy growing system, the 23 planned cultivation rooms represent an additional 10,800 kg/year of production capacity increasing the Company's capacity from approximately 5,200 kg/year to an estimated 16,000 kg/year.
Cannabis Sativa, Inc. (OTCQB: CBDS) is engaged in the licensing of cannabis related intellectual property, marketing and branding for cannabis based products and services, operation of cannabis related technology services, and ancillary business activities. CBDS licenses the "hi" and "White Rabbit" brands, holds a U.S. patent on the Ecuadorian Sativa strain of Cannabis, owns patent pending and trade secret formulas and processes, offers the hi benefits discount pharmacy card, and operates subsidiaries including: PrestoDoctor, Wild Earth Naturals, and iBudtender. Last year, the company announced that its subsidiary, PrestoDoctor, is expanding its online medical marijuana recommendation services into New York. PrestoDoctor currently serves patients via both their online platform and with dispensary kiosks operating in California and Nevada and will now extend their online services to patients located in the State of New York.
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