PALM BEACH, Florida, March 14, 2019 /PRNewswire/ -- Recently, retail and online cannabis has had good news and bad news. The good news is that sales numbers continue to increase and projected revenues keep trending upward and that they keep selling out their inventory selling out their inventory is also the bad news! This situation interests' investors. A recent article from Wall Street analysts said: "The "green rush" has fully gripped Wall Street and investors. Even with a recent pullback, many of the largest publicly traded marijuana stocks by market cap have seen their share prices soar by more than 1,000% over the trailing-two-year period. Instrumental to this surge in pot-stock market caps is a steady shift in the way the public views the drug. Gone are the days where cannabis was considered too taboo for discussion. The marijuana industry could be much bigger than you realize According to (an article) published (by market insiders said) the total cannabis market could generate as much as $75 billion in gross annual sales by 2030, up from a previous forecast of $50 billion by 2026." Active Companies from around the market with current developments this week include: ParcelPal Technology Inc., (CSE: PKG) (OTC: PTNYF), Heritage Cannabis Holdings Corp. (CSE: CANN) (OTC: HERTF), Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB), The Green Organic Dutchman Holdings Ltd. (OTC: TGODF) (TSX: TGOD), Khiron Life Sciences Corp. (TSX-V: KHRN) (OTC: KHRNF).
The most pressing problem facing the country's legal weed market is the fact that, in the majority of provinces, suppliers are unable to meet demand. According to MarketWatch, the complexity of scaling up a national legal cannabis supply chain has left many retailers with just a fraction of the promised products. In many areas, the supply shortage may last well into 2019. Health Canada has added significant resources to attempt to shorten the approval process, but the backlog is significant. In the coming months, we expect to see this supply shortage ease.
ParcelPal Technology Inc., (CSE: PKG) (OTCPK: PTNYF) BREAKING NEWS: ParcelPal Technology is pleased to announce it has signed a cannabis distribution agreement with Kiaro, a Vancouver based cannabis retailer.
Further to ParcelPal's cannabis strategy announced on September 13, 2018: (https://www.stockwatch.com/News/Search.aspx?wire=0&symbolchanges=Y&symbol=PKG®ion=C), the Company has completed an additional cannabis distribution agreement with Kiaro for the delivery of cannabis products through Kiaro's physical and digital retail channels. The initiative will consist of:
- Distribution: ParcelPal and Kiaro will jointly develop an optimal roadmap for the distribution of adult use cannabis, ultimately creating the 'Amazon Effect' within the cannabis industry.
- Accessibility: The companies will integrate their technology platform to enhance the user experience and improve product accessibility.
- Compliance: All cannabis products delivered will be within parameters set by all the relevant regulatory bodies.
- Safety: Both companies are dedicated to socially responsible cannabis retail and, by enabling cannabis delivery within the hour, hope to deter cannabis impaired driving.
This marks the Company's second strategic partnership to manage cannabis deliveries through the omnichannel platforms of Canadian retailers. Previously ParcelPal announced a similar agreement with Choom Holdings: https://www.newswire.ca/news-releases/parcelpal-signs-agreement-for-marijuana-distribution-with-choom-holdings-inc-694498251.html
President and CEO Kelly Abbott States, "We are extremely excited to sign a distribution agreement with Kiaro and we will immediately begin planning and executing for all last mile operations. Our objective is to become the Uber of cannabis in Canada and this takes us one step closer to our goal." Abbott continues, "Cannabis delivery is expensive and often through antiquated courier services – with consumers waiting over a week to receive their items. With ParcelPal, customers will receive their cannabis products safely within an hour. Our technology enables seamless integration with any cannabis retail outlet or eCommerce platform." Read this and more news for ParcelPal at: https://www.financialnewsmedia.com/news-pkg
In the industry developments and happenings in the market this week include:
Heritage Cannabis Holdings Corp. (CSE: CANN) (OTCPK: HERTF) this week announced that CannaCure Corporation's("CannaCure") first harvest successfully passed all tests including microbiology and pesticides and recorded an average THC content between 17-22%.
As a result of Heritage's subsidiary PhyeinMed Inc. ("PhyeinMed") obtaining its standard processing licence on March 1, 2019, and Heritage's updated strategy of growing cannabis for extraction, CannaCure has exercised an option to retain the product and will process it in the Company. The cannabis will be extracted and formulated for use in medical sales, adding significant value compared to wholesale dried flower revenues.
Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB.TO) this week announced that it has appointed Nelson Peltz as a Strategic Advisor. Mr. Peltz and Aurora will work collaboratively and strategically to explore potential partnerships that would be the optimal strategic fit for successful entry into each of Aurora's contemplated market segments. Mr. Peltz will also advise on the Company's global expansion strategy.
"Nelson is a globally recognized business visionary with a strong track record of constructive engagement to generate accelerated, profitable growth and shareholder value across many industry verticals that are of great interest to us," said Terry Booth, CEO. "Like us, Nelson also takes a long-term view of value creation to benefit all stakeholders. We look forward to working with Nelson to further extend our global cannabis industry leadership by aligning Aurora with each of the major market segments cannabis is set to impact."
The Green Organic Dutchman Holdings Ltd. (OTCQX: TGODF) (TSX: TGOD.TO) this week announced that it has entered into a multi-year extraction services contract with Valens GroWorks Corp. Valens is a licenced provider of cannabis products and services specializing in various proprietary extraction, distillation, cannabinoid isolation and purification technologies. Partnering with Valens will accelerate TGOD's Canadian hemp strategy and allow for early market entry of TGOD's organic hemp-derived CBD product lines within the coming months.
Under the terms of the initial 2-year agreement, Valens will process, extract and purify TGOD's cannabis and hemp biomass under conditions specified by TGOD as demanded by final product manufacturing and formulation requirements. TGOD will supply Valens with significant quantities of cannabis and hemp and Valens will provide extraction purification services processing the cannabis and hemp into premium quality resins and distillates. TGOD intends to use the concentrated cannabinoid resins and distillates to produce oils, sprays and capsules as well as oils for vaporization and future edible, beverage and topical products.
Khiron Life Sciences Corp. (TSX-V: KHRN.V) (OTCQB: KHRNF), a vertically integrated cannabis leader with core operations in Latin America , this week announced the appointment of Dr. Edwin Bendek MD, MA, MPH as Medical Director, Skincare. This appointment expands the Company's scientific expertise and resources for future product and brand development, global strategic alliances and research and education initiatives across Latin America.
Andres Galofre , Khiron Co-founder and VP Business Development, stated, " The appointment of Dr. Bendek is an important addition to our skincare unit as we ramp up retail distribution, and further advance new product research and development. Dr. Bendek's proven skincare and cosmetology experience, together with his exceptional industry network will be invaluable as we execute our research-based, product development strategy."
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