NEW YORK, September 17, 2018 /PRNewswire/ --
According to a report published by Global Market Insights, the U.S medical cannabis market size was valued at over USD 3.5 Billion in 2017 and is expected to exceed USD 8.0 Billion by 2024 while growing at a compound annual growth rate (CAGR) of 13%. The increasing use of cannabis as a treatment for a range of chronic pain will boost the market growth. Currently, 31 U.S. States have legalized cannabis for medical use. According to data from the National Health Interview Survey, about 25 Million people suffer from pain every day in the U.S. The medical cannabis pain management market in the country was valued at USD 2,691.9 Million in 2017, accounting for 75% of the market shares. Chemesis International Inc. (OTC: CADMF), Namaste Technologies Inc. (OTC: NXTTF), Terra Tech Corp. (OTC: TRTC), Cannabis Sativa, Inc. (OTC: CBDS), Emerald Health Therapeutics, Inc. (OTC: EMHTF).
A major sector of the cannabis market is made up of cannabis edibles, also known as cannabis-infused foods. A market research by Technavio projects that the edible products market will witness considerable growth during the period 2018-2022 at a CAGR of over 25% by the end of the period. Edible products are used for both medical and recreational purposes, depending on its cannabinoid compounds. The recent trend of legalization for recreational purposes helps to increase the popularity of such products. Cannabis is now widely accepted in countries such as the U.S., Canada, Spain, Chile, Israel, Germany, and Australia.
Chemesis International Inc. (OTC: CADMF) is also listed on the Canadian Securities Exchange under the ticker (CSE: CSI). Earlier last week, the Company announced, "the opening of its wholly owned subsidiary Chemesis Latin America. Through this subsidiary, the Company is exploring and completing advanced due diligence on opportunities for cultivation, production and export from the Latin American market. The Company believes it will be able to quickly gain market share in Latin America through the use of its networks and existing expertise.
Chemesis' long-term growth strategy is focused on international expansion. Globally, regulation changes are occurring for both medical and recreational cannabis, and as these changes occur, Chemesis intends to be a first mover by leveraging its existing networks and developing brands suited for the Latin American market. Mexico is a great example of these changes, as president-elect, Andrés Manuel López Obrador, who has the job of overseeing rule making and regulations around Mexico's new marijuana law, unveiled a plan to change the country's drug strategy in several big ways.
Colombia, another front-runner in the Latin American cannabis market, is rapidly growing its capabilities. The government is hoping to grow up to 40.5 tons of cannabis per year, which would account for approximately 44% of the licenses issued globally. Colombia is estimated to capture as much as one-fifth of the global market, a value of $40 billion a year.
'Chemesis Latin America is a big step forward in our global growth strategy,' said CEO, Edgar Montero. 'We believe Chemesis has a major advantage in this region, as the recent acquisition of Natural Ventures can be leveraged to quickly capitalize on upcoming opportunities. With progressive regulations, Latin America becomes a key market that will be a major part of our portfolio. The Company has positioned itself to take advantage of significant opportunities in both Mexico and Colombia. This allows Chemesis to execute on its ambitious growth strategy to identify opportunities that will build long-term shareholder value. The company plans to announce the specific countries and jurisdictions where it will be operating in the near future.'
About Chemesis International Inc.: Chemesis International Inc. is a vertically integrated global leader in the cannabis industry, currently operating within Puerto Rico, and California. Chemesis is developing a strong foothold in key markets, from cultivation, to manufacturing, distribution, and retail. Chemesis has facilities in both Puerto Rico and California, allowing for cost effective production and distribution of its products. In addition, Chemesis leverages exclusive brands and partnerships and uses the highest quality extraction methods, to provide consumers with quality cannabis products. Chemesis will add shareholder value by exploring opportunities in emerging markets while consistently delivering quality product to its consumers from seed to sale."
Namaste Technologies Inc. (OTCQB: NXTTF) is Your Everything Cannabis Store™. Namaste operates the largest global cannabis e-commerce platform with over 30 websites in 20+ countries under various brands. Namaste Technologies Inc. recently announced that the Company's wholly-owned subsidiary, Namaste Bahamas Inc., has signed a Binding Terms Sheet to acquire all of the issued and outstanding shares of UK-Based AF Trading Ltd. (operating as "Access Fulfillment" or "accessfulfilment.com"). Access Fulfillment operates a 30,000 sq. ft. distribution facility in the UK and holds a Wholesale Distribution Authorization (Human) License issued by the Medicines and Healthcare Products Regulatory Agency which allows Access Fulfillment to distribute pharmaceutical products throughout the UK. The acquisition of Access Fulfillment is the first step in Namaste developing its future medical cannabis distribution platform in the UK, which represents a much larger customer base than that of its Canadian operations. The Company intends to launch a platform similar to its Canadian wholly-owned subsidiary, Cannmart Inc., within the UK market to help monetize on its database of over 500,000 customers.
Terra Tech Corp. (OTCQX: TRTC) operates through multiple subsidiary businesses including: Blüm, IVXX Inc., Edible Garden, and MediFarm LLC. The Company recently announced that it has partnered with the Valiente Group, a beverage production company that specializes in cannabis infusion, to produce a line of cannabis-infused beverages under the IVXX brand. "Our relationship with the Valiente Group will enable our initial entrance into the cannabis-infused, non-alcoholic beverage market, which is among the least crowded segments in the adult-use cannabis industry and presents a tremendous first mover opportunity for Terra Tech," Derek Peterson, Chief Executive Officer of Terra Tech, stated. "The build out of our Dyer Road facility will serve the growing demand for cannabis-infused beverages in the California Market and, in the future, we expect it to enable distribution to other markets, including Nevada."
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. Cannabis Sativa, Inc. announced earlier this year that PrestoDoctor®, the leading online medical marijuana recommendation service, expanded to Pennsylvania on April 20th, 2018. More than 3,800 people have signed up in the medical marijuana patient registry's first week, signaling strong statewide interest in the program that will give those with one of 17 specific diagnoses access to cannabis beginning next year. "We are extremely excited to be expanding to Pennsylvania, and to help patients have easier access in obtaining a medical marijuana card," said PrestoDoctor® Co-Founder and Chief Executive Officer, Kyle Powers. "With so many people looking for an opioid alternative, and other natural options, it's important to provide an easy, honest, and affordable service."
Emerald Health Therapeutics, Inc. (OTCQX: EMHTF) is a Licensed Producer under Canada's Access to Cannabis for Medical Purposes Regulations and produces and sells dried cannabis and cannabis oil for medical purposes. Emerald Health Therapeutics, Inc. recently announced it has been selected as an authorized cannabis supplier by the Newfoundland Labrador Liquor Corporation ("NLC") to supply cannabis products to the NLC and serve the adult-use market throughout the province of Newfoundland Labrador starting October 17th. With its previously announced supply agreements with the provinces of British Columbia and Ontario, as well as its commercial production facilities quickly ramping up in British Columbia and Quebec, Emerald is prepared for the adult-use market. The Company is focused on product innovation that will command high profit margins; differentiating its marketing strategy; and securing significant supplies of safe, quality, low-cost cannabis. "We're proud to work with the NLC as a preferred Licensed Producer to serve Newfoundland and Labrador in the upcoming legal cannabis market," said Chris Wagner, Chief Executive Officer at Emerald. "This represents the third provincial agreement for our team and we expect to share additional supply updates in the future."
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