NEW YORK, December 4, 2017 /PRNewswire/ --
According to a report by Forbes, Brightfield Group, a cannabis market research firm, indicates that the international market for cannabis is projected to hit $31.4 billion by 2021. Bethany Gomez, Director of Research for Brightfield Group, explained that the U.S. market is significantly larger than the rest of the international markets combined. Currently, the global market is estimated to be worth $7.7 billion. The U.S. currently drives 90 percent of global cannabis sales, but its share will drop to 57 percent by 2021. Countries in Latin American and Europe are also adding medical cannabis programs, as regulations continue to soften. Cannabis Wheaton Income Corp. (OTC: CBWTF), 22nd Century Group, Inc. (NYSE: XXII), Cannabis Sativa, Inc. (OTC: CBDS), General Cannabis Corp. (OTC: CANN), CV Sciences, Inc. (OTC: CVSI)
Growth of the medical cannabis market is expected to accelerate as the products become more popular treatments for various medical applications such as chronic pain, post-traumatic stress disorder (PTSD), sleep disorders, anxiety, nerve pain and others. Giadha Aguirre De Carcer, CEO and Founder of New Frontier Data, explained, "The United States constitutes 35% of the global pharmaceutical market, the largest market in the world, and a major driver of the U.S. economy. It is one of many industries that will be impacted by the growth of the legal cannabis market and we are already starting to see that trend in legal medical states where use of key prescription drugs is down by 11%. If cannabis were to be adopted nationally, we would begin to see a trend of patients turning to medical cannabis as a substitute or complement to pharmaceuticals."
Cannabis Wheaton Income Corp. (OTC: CBWTF) is also listed on the TSX Venture Exchange under the ticker symbol 'CBW'. Earlier today the company just announced breaking news that, "it was awarded Startup of the Year at the 2017 Canadian Cannabis Awards gala held at The Carlu in Toronto. The Canadian Cannabis Awards are an annual celebration recognizing the people, companies and products that make it great. The majority of awards were decided by the public and a select committee of industry stakeholders selected winners in the following categories: Product of the Year, Lifetime Achievement Award, Top Charitable Initiative, Most Progressive Canadian Researcher, Startup of the Year and many more. Company Chairman and CEO Chuck Rifici also won the Innovator of the Year Award.
Hugo Alves, President of Wheaton Income, stated, "When we started Wheaton Income, one of the primary drivers was to build a company that brought value to the industry, our shareholders and to us as individuals. Being recognized as Startup of the Year at the CCA's is not only a feather in our cap but validates all of the work our team has put in to creating this company. We feel that the momentum has just begun for us and the coming year will truly be the proving ground as we continue to execute and deliver on our strategy."
Chuck Rifici, Chairman and CEO of Wheaton Income, stated, "Winning Innovator of the Year was a great surprise and I am honoured by the recognition. I share this honour with the Wheaton team, who received Startup of the Year. We've built a group of friends and professionals who all want to work together and with others to build companies, products and services that will make our industry better. We are grateful to be recognized for something we all get such satisfaction from, along with them, I want to thank LIFT and everyone who supported us...."
22nd Century Group, Inc. (NYSE: XXII), a plant biotechnology company focused on tobacco harm reduction and hemp/cannabis research. 22nd Century has an extensive intellectual property portfolio of issued patents and patent applications relating to the tobacco and cannabis plants. The company's wholly-owned operating subsidiaries Botanical Genetics is focused on natural, safe and effective cannabis-based products for human health, well-being and nutrition, in addition to industrial products refined from cannabis.
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. The company seeks strategic partners for acquisition of operating companies, intellectual property and other assets which fit within the CBDS corporate vision. On September 6, 2017, the company announced that the Company has granted an exclusive license to the Sowilde Management Group, Inc. to allow Sowilde to produce products under the Company's "hi" and "White Rabbit" brands. White Rabbit offers fast acting low dose cannabis oral sprays and low dose cannabis mints. Both the spray and the mints are formulated as CBD, THC and CBD/THC blends. Dosage ranges include 2.5mg, 5mg and 10mg tablets and sprays with 1:1 and 20:1 variations of each. hi Honey, is a rich, dark, Wild Raw Honey from African mountain bee that is infused with THC or CBD and sourced from a company that supports a native bee population as well as creates sustainable livelihoods for two indigenous groups.
General Cannabis Corp. (OTCQB: CANN) is the comprehensive national resource for the highest quality service providers available to the regulated cannabis industry. On November 7, 2017, the company announced financial results for the quarter ended September 30, 2017. For the three months ended September 30, 2017, the company reported its highest quarterly revenues on record of approximately $980,000, representing an increase of 21% in total revenues when compared to the three months ended September 30, 2016. The company continues to work with its established business segments to lead the national cannabis industry. "Next Big Crop continues to generate record revenues in 2017," said Robert Frichtel, Chief Executive Officer of General Cannabis. "With the expanded legalization of medical and recreational cannabis in numerous states, Next Big Crop's services are in high demand to assist companies submitting applications to acquire licenses, and to provide operational consulting and products."
CV Sciences, Inc. (OTCQB: CVSI) operates two distinct business segments: a drug development division focused on developing and commercializing novel therapeutics utilizing synthetic CBD; and, a consumer product division focused on manufacturing, marketing and selling plant-based CBD products to a range of market sectors. On November 14, 2017, the company announced it has been named on Deloitte's Technology Fast 500™, an annual ranking of the fastest growing companies in the technology, media, telecommunications, life sciences and energy tech sectors in North America. The Deloitte Technology Fast 500 is based on percentage of revenue growth from fiscal year 2013 to 2016, with CV Sciences growing by 403% during this period. 2017 marks CV Sciences' first year named on the Deloitte's Technology Fast 500™ list. Overall, 2017 Technology Fast 500™ companies achieved revenue growth ranging from 135% to 59,093% from 2013 to 2016, with median growth of 380%."
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