NEW YORK, March 24, 2017 /PRNewswire/ --
FinancialBuzz.com News Commentary
According to new data published Arcview Market Research, a leading publisher of cannabis market research, the legal cannabis market is projected to continue to grow at a 27 percent CAGR through 2021, despite conflicting signals from the current presidential administration. The report created by Arcview's data partner, BDS Analytics, points out that the two biggest drivers of growth in this industry are the passage and subsequent implementation of new adult-use laws and branded product subcategories. Examples of these subcategories would be vape cartridges, edibles, and other alternative consumption methods. Invictus MD Strategies Corporation (OTC :IVITF ) (CSE: IMH.CN), Cannabis Science Inc. (OTC :CBIS ), Medical Marijuana Inc. (OTC :MJNA ), Easton Pharmaceuticals Inc. (OTC :EAPH ), CV Sciences Inc. (OTC :CVSI ).
Troy Dayton, CEO of Arcview Market Research, said in a statement, "While the uncertainty created by the mixed signals coming out of the administration may cause a temporary dip in some valuations of cannabis companies and some more risk-averse institutional investors and multinational companies may continue to stay on the sidelines, it won't impact the growth of the market much at all. No matter what the administration does, states will continue to issue cannabis licenses to a long line of applicants and licensed cannabis outlets will continue to have long lines of consumers ready to purchase this product from regulated establishments."
Invictus MD Strategies Corporation (OTC :IVITF ) (CSE: IMH.CN) is focused on three main verticals within the burgeoning Canadian cannabis sector: Licensed Producers under the Access to Cannabis for Medical Purposes Regulations ("ACMPR"); Fertilizer and Nutrients through Future Harvest Development Ltd.; and Cannabis Data and Delivery, with its wholly owned subsidiary Poda Technologies Ltd.
Invictus MD Strategies Corp. this week announced, "that AB Laboratories Inc. (AB Labs) has successfully completed several test crops in its licensed production facility under the Access to ACMPR located in Hamilton, Ontario. The facility, which was licensed for cultivation under the ACMPR in October 2016, is currently operating at half capacity, with full production capacity scheduled by the end of May 2017. AB Labs has already received several direct inquiries from patients, which underscores the continuously growing demand."
Dan Kriznic, Chairman and CEO of Invictus MD, stated, "We are very pleased to see the speed at which AB Labs has been able to secure starter material, strains and potential offtake partners for production. In addition, considering the magnitude of AB Ventures' land acquisition and future facility, and assuming AB Ventures obtains a license to produce the quantity forecasted for the proposed facility, the combined production capacity of both AB Labs and AB Ventures is expected to exceed 20,000 kilograms in 2019. Invictus MD currently has approximately $15.5 million in cash and is fully funded for the initial expansion plans with AB Ventures. Construction plans are already underway and expect to be submitted to Health Canada by May 1, 2017."
Cannabis Science Inc. (OTC :CBIS ) uses an inquiring approach to discover and develop novel cannabinoid-based therapies to improve patients' lives. The company announced the anticipated delivery of its very first pre-designed greenhouses with full tracking and reporting protocols to its California and Nevada operations. "Having control over our own supply chain will greatly increase our efficiencies, including the time and cost required to have processed products readily available for development into all our formulations. We will soon launch our observational studies for specific cannabinoid combinations targeting critical ailments. We will be growing a variety of cannabinoid combinations for our formulations and testing. Each formulation is designed to target a specific critical ailment; to work using a particular delivery mode; and to have the potency to drive maximum positive results in patient usage," stated CMO, Dr. Allen Herman.
Medical Marijuana Inc. (OTC :MJNA ) announced that its major investment company, that is a leader in cannabinoid research and development, AXIM® Biotechnologies Inc., has retained the services of Ora®, Inc., a global Contract Research Organization (CRO), to perform the company's upcoming product development and clinical trials for treating glaucoma and dry eye utilizing cannabinoid-based therapeutics. Ora is the world's leading ophthalmology CRO for advancing products from pre-clinical through approval and post-market phases. "It is exciting to see AXIM start on pre-clinical efforts alongside esteemed ophthalmology professionals to develop a cannabinoid-based eye drop medication that may assist glaucoma sufferers," said Dr. Stuart Titus, CEO of Medical Marijuana, Inc. "This partnership between AXIM and Ora is another new exciting milestone for AXIM's clinical development program, as it continues to move forward finding cannabinoid-based solutions for conditions for which there is no effective treatment."
Easton Pharmaceuticals Inc. (OTC :EAPH ) is a diversified specialty pharmaceutical company involved in various pharmaceutical sectors and other growing industries. The company has re-initiated discussions with Medicated Markets International LLC towards assets and relationships it has developed in California's Medical Marijuana industry and other jurisdictions throughout the world. With California and other States recent legalization of Medical Marijuana has opened up new opportunities for Easton Pharmaceuticals and its partners. Easton will continue to make the burgeoning medical marijuana, Vaporizer and e-liquids industry a priority and will continue to strive to be a big part of this sector moving forward.
CV Sciences Inc. (OTCQB: CVSI) is a life science company. The company operates in two segments: specialty pharmaceuticals and consumer products. CV Sciences' Pharmaceutical Division is developing synthetically-formulated cannabidiol-based medicine, pursuing the approval of the U.S. Food and Drug Administration for drugs with specific indications utilizing cannabidiol as the active pharmaceutical ingredient. CV Sciences has achieved promising preclinical results in the development of cannabinoid medicines for treatment of a range of medical conditions. CV Sciences' Consumer Products Division delivers botanical-based cannabidiol products that enhance quality of life. Currently distributed nationally in health food stores, health care provider's offices and online, each consumer products brand is backed by a formal safety review, growing body of case reports, and physician's recommendations.
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