FinancialBuzz.com News Commentary
NEW YORK, Sept. 23, 2019 /PRNewswire/ -- Over the past several years, youth smoking rates have declined, but electronic cigarettes have quickly filled this gap. In recent years, e-cigs have become widely popular among the youth, as many young adults quickly became addicted and began consuming dangerous amounts of the e-liquid. Consequently, e-cig users began to notice adverse effects such as respiratory and cardiovascular issues. Similarly, the cannabis industry began to receive backlash in light of the ongoing e-cig epidemic. And while large e-cig manufacturers were being investigated for business practices, cannabis extract and concentrate retailers were also being probed. Furthermore, it was discovered through multiple investigations that certain companies were using synthetic chemicals within their products, which, are not approved by federal health agencies. The growing concern has now caused many consumers to stray away from both the e-cig and cannabis market until enforcement agencies begin to regulate products. And while the cannabis industry is still in its infancy stage, federal officials are diligently working towards providing consumers with legal and safe products. Notably, many companies within the cannabis market space have created proprietary technologies to further ensure products are safe to use. And as these technologies continue to undermine the misconception of cannabis being a dangerous substance, the market is positioned to witness substantial growth. According to data compiled by Ameri Research, the global legal marijuana market was valued at USD 14.3 Billion in 2016. By 2024, legal marijuana global sales are projected to reach USD 63.5 Billion while exhibiting a CAGR of 21.1% from 2017 to 2024. Cannabix Technologies Inc. (OTC: BLOZF) (CSE: BLO), Planet 13 Holdings Inc. (OTC: PLNHF) (CSE: PLTH), Emerald Health Therapeutics Inc. (OTC: EMHTF) (TSX-V: EMH), The Supreme Cannabis Company, Inc. (OTC: SPRWF) (TSX: FIRE), Terra Tech Corp. (OTC: TRTC)
In the 1990s, the U.S. began to reshape the cannabis industry after California legalized the plant for medicinal purposes. However, other states and even international countries voiced their concerns over legalizing cannabis. Cannabis was listed as a Schedule 1 drug under international regulations because of its THC or tetrahydrocannabinol content. THC is commonly known to cause mind-altering effects on the consumer, and as a result, regulators deemed cannabis to be unsafe. However, with the emergence of the cannabis industry, entrepreneurs have developed state-of-the-art technology to debunk common misunderstandings about cannabis. Notably, researchers have launched clinical trials to further understand the efficacy of cannabis and its effects. And a number of clinical trials have proven that cannabis offers therapeutic effects, which can alleviate medical conditions such as cancer, chronic pain, and epilepsy. Despite medical breakthroughs in the industry, consumers have also demanded more transparency between themselves and producers. The major concern among consumers is the lack of regulations to ensure products are safe to use. Consequently, entrepreneurs began to develop state-of-the-art technology in order to provide safer products. For instance, seed-to-sale tracking has become a major and required technology within the marketplace. Specifically, seed-to-sale tracking provides buyers and consumers with extensive information regarding where their product was grown, what it was treated with, as well as its shipment process. Moreover, other companies have created open-source databases for consumers to understand the effects of cannabis such as its health impact or therapeutic benefits. On the other hand, some companies have dabbled into the legal enforcement industry and manufactured products such as THC-breathalyzers. "As the cannabis market grows in the United States, creative innovators and smart, opportunistic entrepreneurs are making their mark. Scores of innovations have debuted, with some unique to the cannabis industry while others with roots in legacy industries have taken hold in the marketplace. The following innovations and their applications reflect my research and serve as a representative sample of the types of innovations that continue to shape and stimulate the cannabis industry," said David Whitney, Assistant Director of the UF Engineering Innovation Institute at the University of Florida Wertheim College of Engineering.
Cannabix Technologies Inc. (OTC: BLOZF) (CSE: BLO) – Just announced breaking cannabis news this morning that the, "developer of the Cannabix Marijuana Breathalyzer is pleased to report that the Company has entered into an exclusive license agreement with the University of British Columbia ("UBC") to use and commercialize certain technology for the detection of volatile organic compounds for testing (to be used for marijuana breathalyzer purposes) owned by UBC developed by Dr. Mina Hoofar and her team of researchers at the UBC Okanagan School of Engineering. The patent pending UBC technology known as a "THC Breath Analyzer" ("THCBA") incorporates highly sensitive microfluidic sensors that can be manufactured at relatively low cost. This exclusive technology license will allow for Cannabix to offer a complementary low-cost portable breathalyzer device that would be ideally suited for workplace, parental and personal use testing. Cannabix's advanced "FAIMS" (field asymmetric waveform ion mobility spectrometry) based marijuana breathalyzer system will be primarily focussed on roadside testing with law enforcement and toxicology lab confirmation. UBC is developing the THCBA on an accelerated pace and Cannabix anticipates that a breathalyzer device is expected to be available for expanded testing this fall/winter. Significant development work has been accomplished on the THCBA by UBC and images of the of the THCBA portable device (under development) can be viewed at cannabixtechnologies.com (and are included in this press release).
The Company believes that the professional needs of law enforcement users (use at police stations and court acceptance) will likely differ from the needs of employers, and civilian users of such devices. Specificity of use, pricing, ruggedization, disposables and calibration requirements will all be factors in delivering multiple breathalyzer products that meet the needs of specific customers. The THCBA technology will offer a relatively low-cost alternative to the professional grade selectivity and sensitivity offered by the Cannabix FAIMS marijuana breathalyzer. Cannabix's FAIMS device allows for mass spectrometry (MS) laboratory confirmation with its unique ability to couple directly to MS. With both devices being developed by Cannabix, the Company aims to significantly expand its potential base of customers for its products and services.
Rav Mlait, CEO of Cannabix stated, "We are extremely excited about this opportunity to add this complementary technology license to our product portfolio. The joint UBC-Cannabix collaboration on this low-cost marijuana breath testing technology will facilitate our strategy to better segment market opportunities with multiple devices. The marijuana breathalyzer technology universe is in its early stages, and it is strategically important for Cannabix to commercialize technologies that can bolster its ability to offer a range of products to meet the needs of different customer segments. We believe that diversifying our technology holdings will be important as regulators worldwide begin to understand the different types of cannabis breathalyzer/detection technologies that are emerging. We want to be well prepared to meet evolving evidentiary regulatory standards for drug breath testing technologies."
Dr. Mina Hoofar stated, "It is always exciting to see our research, that originates on the Okanagan campus of UBC, extend to the next stage of development. We are thrilled that through this collaboration, devices will soon enter the market for self-monitoring and usage as a marijuana breathalyzer. This collaboration will bring our findings to market providing users with affordable, portable, fast and accurate devices. Collaborating with Cannabix means that we can leverage their expertise in marketing and implementation, bringing the THC Breath Analyzer one step closer to entering the market. We look forward to future collaborations with Cannabix as we continue to strive for innovation in the fields of micro-fluidics and bio-marker analysis."
The Company also reports granting 2 million incentive stock options exercisable at $0.80 cents per share for five years to officers and directors and two years for consultants.
About Cannabix Technologies Inc. - Cannabix Technologies Inc. is a leader in marijuana breathalyzer development for law enforcement and the workplace. Cannabix has established breath testing technologies in the pursuit of bringing portable tools to market to enhance detection of marijuana impaired driving offences on roads at a time when marijuana is becoming legal in many jurisdictions globally. Cannabix is working to develop drug-testing devices that will detect THC- the psychoactive component of marijuana that causes intoxication- using breath samples. In particular, Cannabix is focused on developing breath testing devices for detection of recent use of THC, in contrast to urine testing for THC metabolite that requires an invasive collection and reflects usage, days or even weeks earlier. The devices will also be useful for other practical applications such as testing employees in the workplace where impairment by THC can be hazardous and for personal use testing."
Planet 13 Holdings Inc. (OTCQX: PLNHF) (CSE: PLTH) is a vertically integrated cannabis company based in Nevada, with award-winning cultivation, production and dispensary operations in Las Vegas. Planet 13 Holdings Inc. recently announced that it had begun construction of a 2,000 sq. ft. Event Space, a part of the Phase II expansion of the Planet 13 Cannabis Entertainment Complex. After successfully hosting VR Fest during the Consumer Electronics Show ("CES") Planet 13 has fielded a substantial number of requests to host various other events, including corporate events, conferences, and weddings. The Event Space will have the capacity to host up to 200 people and have the ability to expand capacity utilizing the coffee shop and bistro to host fully catered events for up to 350 people. "During the two days that we hosted VR Fest, we had over 3,000 people in the SuperStore each day. Las Vegas brings people from all over the world together to attend unique events and personal celebrations each year. By building-out our Superstore footprint to host a selection of these gatherings in a super-premium environment centered around a holistic cannabis experience, we will give these visitors lasting memories, generate additional revenue and accelerate our brand extension efforts both nationally and internationally," said Larry Scheffler, Co-Chief Executive Officer of Planet 13. "We view each event we host as an opportunity to showcase our brands and create a lasting memory. There is nothing like our Superstore anywhere in the world, and as our reputation has grown, we have experienced growing demand for a premium event space, located within walking distance of the Las Vegas Strip, to host everything from weddings to smaller conferences. We guarantee that you'll remember your event, the Superstore and the TRENDI vape that was with you the whole time."
Emerald Health Therapeutics Inc. (OTCQX: EMHTF) (TSX-V: EMH) is a Canadian licensed producer of cannabis products, with strategic initiatives focused on differentiated, value-added product development for medical and adult-use customers supported by novel intellectual property, large-scale cultivation, extraction, and softgel encapsulation, as well as unique marketing and distribution channels. Emerald Health Therapeutics, Inc. recently received its cultivation license from Health Canada for the 12-acre outdoor grow area at its new organic cannabis operation in Metro Vancouver, BC. The outdoor grow area is expected to be capable of producing approximately 10,000 kg of cannabis annually with multiple crops during a full growing season. With this license effective as of July 12th, 2019, Emerald is positioned to deliver one harvest and a portion of the expected full production volume this year. "As one of the few licensed producers licensed for outdoor growing, receiving this cultivation license highlights our planning and execution to achieve potentially very-low cost organic cannabis. We have been working for months on ground and seed preparation and are now preparing for planting," said Dr. Avtar Dhillon, Executive Chairman and President of Emerald. "With our team's extensive organic farming experience and expertise, we look forward to assessing multiple cannabis strains and refining cultivation practices for scalable outdoor growing."
The Supreme Cannabis Company, Inc. (OTCQX: SPRWF) (TSX: FIRE), is a global diversified portfolio of distinct cannabis companies, products and brands. The Supreme Cannabis Company, Inc. recently announced the launch of Supreme Heights, an investment platform based in London, U.K. focused on opportunities in the U.K. and Europe's CBD health and wellness space. Supreme Heights intends to make strategic investments in and provide support services to differentiated high-growth health and wellness businesses with focused brands and premium CBD offerings. Supreme Cannabis has launched Supreme Heights as a separate entity that will solely address opportunities in the U.K. and Europe's CBD health and wellness market. Supreme Heights will benefit from Supreme Cannabis' regulatory, product commercialization, supply chain, marketing and capital markets expertise and corporate support services. Supreme Cannabis' management team has immense experience supporting health and wellness companies operating in Canada and international markets. Supreme Heights will draw on the Company's experience launching premium brands. "The rapidly evolving CBD markets in the U.K. and Europe present compelling investment opportunities given the promising environments for new health and wellness companies to establish differentiated brands and capture meaningful market share. Supreme Heights is positioned to quickly act on attractive opportunities and establish an early mover advantage in the space," said Navdeep Dhaliwal, Chief Executive Officer of Supreme Cannabis. "Supreme Heights will benefit from our experience launching some of the most premium cannabis brands in Canada and from the strong leadership and the deep industry connections of our UK partners. We look forward to driving value for Supreme Cannabis shareholders through this investment platform."
Terra Tech Corp. (OTCQX: TRTC) operates through multiple subsidiary businesses including: Blm, IVXX Inc., Edible Garden, and MediFarm LLC. Terra Tech Corp. recently announced that it had broken ground at 620 East Dyer Road, Santa Ana, CA, following receipt of the necessary permits from the City of Santa Ana which allow construction to commence. The Company is developing a large scale, one-of-a-kind cannabis complex on East Dyer Road, which is adjacent to the 55 Freeway and acts as an entry point into the Southern California marketplace, allowing the Company to benefit from the areas high population density and traffic. Chief Executive Officer, Derek Peterson, said, I would like to extend our thanks to the City of Santa Ana for its ongoing support as we advance our plans to build out a Blm-branded retail dispensary at our East Dyer location. We are also developing a cannabis event center, which is anticipated to make us a highly sought-after destination in one of the countrys most important cannabis markets. The Dyer Road facility is in a densely populated area, with approximately 4,100,000 residents living within 20 miles of the location. It also benefits from a high level of tourism due to its proximity to Disneyland, another major Southern California attraction. This is a very exciting project for us and we expect construction to be completed in the fourth quarter of 2019.
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