PALM BEACH, Florida, September 6, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
There are now plenty of public companies in the markets today that entrenched in the Legal Cannabis industry and have the potential to create substantial shareholder value over time as emerging opportunities continue to flourish. A recent report release by Mordor Intelligence indicates that the global cannabis market was valued at USD 47.7 Billion just two years ago and is expected to reach USD $65 Billion by 2023 while registering a healthy CAGR of 37% during the forecast period. According to the report, the robust growth in the cannabis industry is in part the result of continued legalization of cannabis product use for medical and recreational purposes across various states in the U.S. Currently, North America accounts for more than 95% of the global cannabis market, with the U.S. itself alone making up more than 90% of the North American and the global market. Active cannabis stocks in the markets today include: CROP Infrastructure Corp. (CSE:CROP) (OTC:CRXPF), Cronos Group Inc. (NASDAQ:CRON) (TSX:CRON), Maricann Group Inc. (OTC:MRRCF) (CSE:MARI), Aphria Inc. (OTC:APHQF) (TSX:APH), General Cannabis Corp. (OTC:CANN).
CROP Infrastructure Corp. (CSE: CROP) (OTCPK: CRXPF)) BREAKING NEWS: CROP Infrastructure announces it has received confirmation that its San Bernardino dispensary application has advanced to stage three of four of the application review process.
Furthermore, the Company is pleased to announce its 49% "Emerald Triangle" cannabis production facility tenanted by "Hempire" in Humboldt California continues harvest with an additional 2 greenhouses now drying and awaiting test results to begin selling. This 30,000 square foot production facility sits on approximately 8.46 acres and consists of a 10,000 square foot medicinal cannabis greenhouse facility and an additional 20,000 square feet of recreational licensed canopy.
Hempire has also advised they have secured 800 additional ready to flower plants for a late season harvest with a unique genetic currently in high demand.
CROP Infrastructure Director & CEO Michael Yorke states: "Crop's tenant, Hempire's harvest looks phenomenal and we look forward to receiving the first brand licencing and lease payments from Hempire in September. The Emerald Heights dispensary application is exciting as vertically integrating tenants will provide for the largest returns both from a brand licencing perspective and return on investment from CROP's real estate portfolio" Read this full announcement and more news for CROP Infrastructure at: http://www.marketnewsupdates.com/news/crop.html
Additional cannabis industry related developments from around the markets:
Cronos Group Inc. (NASDAQ:CRON) (TSX:CRON) and Ginkgo Bioworks Inc., the organism company, have formed a landmark partnership to produce cultured cannabinoids. Using its platform technology for organism design and development, Ginkgo will complement Cronos Group's technologies for producing a full spectrum of cannabinoids. As part of this unprecedented deal, Cronos Group has agreed to issue a specific number of common shares in tranches subject to Ginkgo's achievement of certain production milestones. As two of the leading companies in their respective industries, Cronos Group and Ginkgo believe that they are best suited to unlock the potential of innovation in the cannabis industry. Cronos Group brings a deep understanding of the plant's biological structure and function, while Ginkgo brings 10 years of experience designing micro-organisms for the production of cultured products across pharmaceuticals, agriculture, flavours, fragrances and more.
Maricann Group Inc. (OTCQB:MRRCF) (CSE:MARI) recently entered into a non-binding term sheet to form a strategic joint venture with San Martino SS, a large-scale agricultural company in the Piedmont region of Italy, founded by Milan businessman Umberto Signorini. Pursuant to the proposed joint venture, Maricann and San Martino will develop a centre of excellence for cannabis products in conjunction with the University of Eastern Piedmont, initially producing high-cannabidiol (CBD) content for the medical market, and then ultimately tetrahydrocannabinol product for the European market. The formation of the joint venture remains subject to due diligence, and the negotiation and execution of definitive documentation. Federico Riboldi, vice-president, province of Alessandria, stated: "It is a true pleasure to see the start of the collaboration of Maricann with San Martino to develop a CBD and THC project here in Italy, specifically, Alessandria province. I think we have found the best combination of people to become the first CBD and THC company in Italy."
Aphria Inc. (OTCQB:APHQF) (TSX:APH) and Rapid Dose Therapeutics Inc. (RDT), a Canadian biotechnology company focused on innovative drug delivery solutions, have signed a non-binding memorandum of understanding (MOU) related to RDT's QuickStrip products. Under the terms of the MOU, the companies intend to enter into a definitive agreement in the near future pursuant to which RDT will provide Aphria with exclusive global preferred rights to produce, distribute and sell QuickStrip products for cannabis markets around the world. This proposed strategic partnership highlights Aphria's persistent focus on innovation with a view to incorporating the latest technologies to revolutionize the way patients and consumers integrate cannabis into their lives. RDT's innovative QuickStrip is an easy-to-use, safe and effective oral fast-dissolving drug delivery system, developed in conjunction with McMaster University through the renowned Adronov Research Group, that provides accurate dosing and potency. With this technology, Aphria intends to produce oral thin strips for both the medical and adult-use cannabis markets.
General Cannabis Corp. (OTCQX:CANN) said Tuesday it is opening a New York office as the cannabis business services provider looks to expand its presence on the East Coast. "Given our growing list of East Coast clients and the steps that states like Massachusetts and New Jersey have taken toward launching adult-use sales, this is the ideal time for General Cannabis to further invest and establish itself in the region," said Executive Chairman Michael Feinsod. General Cannabis specializes in cultivation management, business development, marketing and apparel, operations consulting, security and capital solutions for clients.
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