PALM BEACH, Florida, Feb. 20, 2019 /PRNewswire/ -- A recent update on the expected Canadian and U.S. cannabis markets sales, exceeds prior projections. An article on CNBC's website quoted Vivien Aze's recent update on the U.S. and Canadian markets. "We expect continued growth in newly established U.S. states, and more robust growth in Canada as more supply comes online," Cowen's Vivien Azer writes." CNBC called Azer: "Wall Street's top cannabis analyst" and quoted her as saying: "We expect continued growth in newly established U.S. states, and more robust growth in Canada as more supply comes online," Cowen's Vivien Azer writes." She believes that: "The U.S. market opportunity is valued at around $40 billion to $50 billion and expected to grow to $80 billion by 2030 assuming national availability, Azer adds. Her previous forecast for U.S. cannabis sales by 2030 was $75 billion. She continued" Cannabis represents a "opportunity" for big tobacco as more and more U.S. states join those that have already OK'd the adult recreational use of cannabis. Cowen looks to North Dakota, Louisiana and West Virginia to come online and highlights Ohio, Florida and Pennsylvania as additional key states to watch. Active Companies from around the market with current developments this week include: Pyramidion Technology Group, Inc. (OTC:PYTG), Canopy Growth Corporation (NYSE:CGC) (TSX:WEED), Aurora Cannabis Inc. (NYSE:ACB) (TSX:ACB), Leafbuyer Technologies, Inc. (OTC: LBUY), 1933 Industries Inc. (OTC: TGIFF) (CSE: TGIF).
"After passage of the Farm Bill, CBD will clearly be one of the most topical areas within cannabis over the coming year," Azer wrote. "We expect the category could generate $1.6 billion in revenues over the next year or two, depending on the timing of FDA commentary and the pace of retail acceptance."
Pyramidion Technology Group, Inc. (OTCPK:PYTG) BREAKING NEWS: Pyramidion Technology Group acquired NxGen Brands, LLC and became the proud owner of LeafyWell (LeafyWell.com), and shortly thereafter announced the finalization of a contractual agreement to provide custom cannabidiol (CBD)-product formulations to Emergent Health, Corp., including the first product of its kind for both companies consisting of an ingredient trifecta designed to aid in sleep, anxiety, and mood: CBD, Melatonin, and GABA. Additionally, during the final quarter of 2018, PYTG announced the execution of a binding letter of intent to acquire Renaissance Health Publishing, LLC. – a private Florida-based company specializing in health and wellness supplements.
During the same quarter, PYTG, by way of LeafyWell (LeafyWell.com), officially launched a full line of CBD-infused pet treats in addition to their already-established line of hemp-based CBD-infused supplements such as tinctures/oils, creams, lotions, edible gummies, available at both wholesale and retail levels. CBD should be considered a notable discussion topic in the medical community, the research community, and the patient community. CBD research has provided evidentiary findings demonstrating its potentially beneficial symptomatic relief for vast range of ailments, including rheumatoid arthritis, diabetes, alcoholism, post-traumatic stress disorder, epilepsy, antibiotic-resistant infections, neurological disorders, chronic pain, and muscular dystrophy, among others.
PYTG announces today that revenues of LeafyWell (LeafyWell.com) products online, wholesale, distributors, formulating, and private labeling, to date in the first fiscal quarter of 2019 alone, are expected to officially surpass all revenues during the final calendar-year quarter of 2018. Carlos Hurtado, CEO of PYTG, stated, "We are enthused with the rising success of LeafyWell branded products and the performance of PYTG as a whole. We are certainly pleased to remark on this record-breaking news for LeafyWell and we are looking forward to what is to come for the following fiscal-year quarters. All of us at PYTG are hard at work including our phenomenal Board of Advisors who are guiding us through patient-based needs and related product formulations."
The Board of Advisors for PYTG includes currently-practicing medical professionals such as board-certified cardiologist and board-certified internal medicine physician, Dr. Mark Sabbota, family medicine specialist, Dr. Michael McKenzie, MD, Dr. David M. Feldbaum MD, FACS, certified in vascular surgery by the American Board of Surgery, Dr. Javier J. Canasi, with a specialization in internal medicine who is advocate of alternative medicine including the inclusion of both hemp-based CBD products, marijuana-based CBD, and medicinal marijuana, when appropriate for the particular medical condition that ails some patients, and in addition to other industry-specific board members.
Mr. Hurtado, continues to explain, "We anticipate that our current shareholders will be equally elated to learn the news that we are on target to successfully surpass our final-quarter 2018 revenues of our CBD hemp-derived supplements, including those manufactured by LeafyWell, solely during this short period of time in 2019. Read this and more news for PYTG at http://www.financialnewsmedia.com/news-pytg
In the industry developments and happenings in the market this week include:
Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB) On February 11, the company announced its financial and operational results for the second quarter ended December 31 st, 2018. " Aurora continues to execute strongly across all of its market segments, as demonstrated by the 83% revenue growth over last quarter and the significant increase in confirmed production results," said Terry Booth , CEO of Aurora. "Our brands continue to resonate extremely well in the consumer market, our patient numbers continue to increase steadily, and we have maintained our market leadership in Germany and other key international markets. We are experiencing exceptional demand for our Canadian medical and consumer products, as well as sustained strong demand internationally. With our Aurora Sky and MedReleaf Bradford facilities ramping up production as anticipated and our other licensed facilities operating at full capacity, we are reiterating our earlier guidance of achieving sustained EBITDA positive results from the second calendar quarter of this year (our fiscal Q4)."
Leafbuyer Technologies, Inc. (OTCQB: LBUY) recently announced that its quarterly sales rose 68% in the quarter ending December 31, 2018. The increase reflects the revenue booked in the quarter versus the same quarter of the previous year.
"This announcement of record-setting growth follows the Company's major industry moves, including the launch of both the Leafbuyer Wallet and Leafbuyer Loyalty, as well as the acquisition of California-based, order-ahead application Greenlight in the last quarter," said Mark Breen, COO of Leafbuyer. "Our cannabis dispensary and product customers see the exceptional value in the services we offer, and we will continue to diversify our platforms to more thoroughly serve their needs."
1933 Industries Inc. (OTCQX: TGIFF) (CSE: TGIF.CN) On February 19, the company, a licensed cultivator and producer of cannabis flower and concentrates and manufacturer of hemp-derived CBD wellness products, reported that it has engaged CB1 Capital Advisors LLC, a New York -based advisory firm focusing on health and wellness through cannabinoids, as strategic business advisors for a one-year term. CB1 Capital Advisors is an advisory firm that focuses on companies in the supply chain of cannabinoid-based wellness solutions, products and therapies that have therapeutic or commercial use-cases. As an adviser focused on cannabinoid-based wellness strategies, CB1 Capital Advisors will provide strategic and business development advice to the Company, including analyzing investment and partnership opportunities.
Canopy Growth Corporation (NYSE: CGC) (TSX: WEED.TO) recently announced that it intends to increase its total investment in Canopy Rivers Inc. ("Canopy Rivers") (RIV.V) by $30 million (CDN). The investment will be made through a private placement of subordinated voting shares in the capital of Canopy Rivers (the "Subordinate Voting Shares") concurrent with Canopy Rivers bought deal offering of Subordinate Voting Shares for gross proceeds of approximately $55 million . This investment is being co-led by CIBC Capital Markets and Eight Capital and is expected to close on or about February 27, 2019.
"The advantage of a strengthened Canopy Rivers/Canopy Growth relationship is that it accelerates and derisks execution for invested companies," said Bruce Linton , Founder and Co-CEO, Canopy Growth.
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