PALM BEACH, Florida, February 28, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
The legal marijuana and cannabis industry is expanding at an impressive speed despite ups and downs in the market. ArcView, a leading cannabis research firm, recently projected that sales in North America may reach close to $22 billion by 2021. Between 2016 and 2021, that equates to an annualized growth rate potential of 26%. Canada legalized medicinal cannabis in 2001 and is on the brink of legally approving the sale of recreational marijuana targeting this coming summer. Assuming this bill is approved in June, Canada could generate billions in added revenue each year from legal marijuana sales. Companies are counting on an explosive market to be able to capitalize on momentum through the expansion of operations, including the acquisition of new dispensary locations in order to bolster retail presence. Active companies this week include: CHOOM Holding Inc. (CSE: CHOO) (OTC: CHOOF), mCig Inc. (OTC: MCIG), Abattis Bioceuticals Corp. (OTC: ATTBF)(CSE: ATT) , The Supreme Cannabis Company Inc. (OTC: SPRWF) (TSX-V: FIRE), Cannabis Wheaton Income Corp. (OTC: CBWTF) (TSX-V: CBW)
Choom Holdings Inc. - Choom™ - (CSE: CHOO) (OTCQB: CHOOF) today announced the appointment of Chris Gagan as Senior Vice President of Marketing to lead its brand strategy and execution. Reporting to Chief Executive Officer, Chris Bogart, Mr. Gagan will provide overall leadership and guidance to the marketing function and all its specialities, as well as provide insight into the overall corporate strategy.
Mr. Gagan brings over 20 years of marketing expertise and lifestyle brand development, product development, and retail expertise across a variety of wholesale and retail channels, most recently with Canada's largest national retailer of sporting goods FGL Sports, where he led the design and development team for their exclusive brands division.. Read this and more news for Choom™ at: http://www.marketnewsupdates.com/news/choo.html
"We're excited to bring Chris on to our leadership team" said Mr. Bogart. "His experience with lifestyle marketing, design and sports branding with Fox Racing and Sugoi Performance Apparel will be important in positioning ChoomTM as a leading lifestyle brand in Canada. In addition, his knowledge of retail merchandising will help accelerate and solidify Choom's position within the recreation cannabis sector in Canada".
As part of the senior leadership team, Mr. Gagan will be responsible for the development and execution of the Choom™ brand and retail marketing strategy. Mr. Gagan will also be integral to driving product marketing and market research for Choom™ as it prepares for the upcoming legalization of cannabis for recreational use across Canada.
In industry developments and happenings in the market this week:
mCig Inc. (OTCQB: MCIG) recently announced its cannabis supply division continues its growth seeing an increase in business coming from California and other states. MCIGis working with partners in revamping the vitacbd.com website to showcase a new line of CBD products launching in the next 60 days and continues to take interest in other companies by growing the business through acquisition and internal business development. Each business opportunity MCIG acquires and/or develops will be considered for a potential "spin-off" creating separate public entities through the issuance of a dividend to MCIG's current shareholders.
Abattis Bioceuticals Corp. (OTCQB: ATTBF)(CSE: ATT.CN) recently announced it has entered into a definitive agreement to acquire a 90% ownership interest in Gabriola Green Farms Inc. Gabriola is a privately held British Columbia company that has applied for a license to produce (an "LP") under the Access to Cannabis for Medical Purposes Regulations (the "ACMPR") on Gabriola Island, one of the gulf islands located in the Strait of Georgia off the coast of British Columbia. Gabriola Island has a consistent temperature and humidity level, which makes it well suited to greenhouse growing. "This is one of the most significant steps our Company has taken towards becoming a full service cannabis company," stated Rob Abenante, Abattis President and CEO. "After successfully obtaining a license through Gabriola, we intend to not only cultivate marijuana, but more importantly sell extracted cannabis products, which will complete our full downstream service offerings."
The Supreme Cannabis Company Inc. (OTC: SPRWF) (TSX-V: FIRE.V) earlier this week announced it has completed a $3-million strategic equity investment in BlissCo Cannabis Corp. BlissCo is a company located in Vancouver, B.C., that has applied to become a licensed producer under the Access to Cannabis for Medical Purposes Regulations. BlissCo was formed on the completion of a reverse takeover transaction involving Trigen Resources Inc. and Bliss Co Holdings Ltd. that closed concurrently with the investment. Trading of BlissCo is expected to commence by Feb. 28, 2018, on the Canadian Securities Exchange under the symbol BLIS. Pursuant to the investment, Supreme holds an approximate 10.1-per-cent ownership interest in BlissCo. In addition, Supreme Cannabis's wholly owned subsidiary 8528934 Canada Ltd. operating as 7ACRES has entered into a definitive supply agreement with BlissCo. 7ACRES will supply BlissCo with a minimum of 1,000 kilograms of premium quality dried cannabis on a take-or-pay basis over a 12-month period starting July 1, 2018. The aggregate value of the supply agreement is estimated to be $6-million, representing a further validation of Supreme's premium-focused, branded wholesale business-to-business model.
Cannabis Wheaton Income Corp. (OTCQB: CBWTF) (TSX-V: CBW.V) recently announced a joint venture with Peter Quiring, one of Canada's largest greenhouse builders and operators, via a newly formed subsidiary (GreenhouseCo), to develop, construct and operate a state-of-the-art purpose-built greenhouse for cannabis cultivation in Leamington, Ont., with Mr. Quiring acting as chief executive officer of GreenhouseCo. As the founder and owner of four vertically integrated companies, all of which have greatly influenced the North American greenhouse ecosystem, Mr. Quiring has over 25 years of experience designing, fabricating, building and operating greenhouses across North America. He has developed over 2,000 acres of greenhouses and currently owns and operates 175 acres of computer-controlled, state-of-the-art greenhouses with over 600 employees in Southern Ontario. Operating one of the largest bell pepper and tomato greenhouses in North America, he is currently growing over 15 million kilograms of peppers and 25 million kilograms of tomatoes each year that are shipped across Canada and the United States. In addition, his fabrication company South Essex Fabricating constructed the Double Diamond Farms facility which is currently being converted for cannabis cultivation.
DISCLAIMER: MarketNewsUpdates.com (MNU) is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. MNU is NOT affiliated in any manner with any company mentioned herein. MNU and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. MNU's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. MNU is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed MNU has been compensated forty four hundred dollars for news coverage of the current press release issued by Choom Holdings Inc. by a non-affiliated third party. MNU HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MNU undertakes no obligation to update such statements.