NEW YORK, January 28, 2019 /PRNewswire/ --
FinancialBuzz.com News Commentary
The cannabis market has grown at a tremendous pace over the recent years and as such, the industry has established itself a major global market. According to data compiled by Grand View Research, the global legal cannabis market is projected to reach USD 146.4 Billion by the 2025. It is also expected to grow at a CAGR of 34.6%. The market itself is witnessing a widespread legalization movement due to the growing adoption of the plant within the medical sector. Cannabis is being used heavily around the global for medical applications and treatments for maladies such as cancer, mental disorders, chronic pain, and others. However, the recreational market is thriving as well due specifically to the U.S. and Canada. States like California, Colorado, and Nevada are expected to propel the recreational sector forward at an encouraging rate. Cannabix Technologies Inc. (OTC: BLOZF), Neptune Wellness Solutions Inc. (NASDAQ: NEPT), OrganiGram Holdings Inc. (OTC: OGRMF), Origin House (OTC: ORHOF), Terra Tech Corp. (OTC: TRTC)
The acceleration of research and development has led to new products within the market, enhancing consumer experiences. The research suggests that the industry is expecting strong exchanges of technological knowledge and information. Meanwhile, as countries like Canada, the U.S., Germany, and Australia lead the market in sales, countries like Israel are focusing on research and technology development to further expand within the industry. Additionally, there are various new forms of technology being introduced into the cannabis sector, such as virtual reality, payment solutions, and medical devices. "That's why we firmly believe that technology stands at the center of the industry's advancement and growth," said Ben Curren Chief Executive Officer of Green Bits, "This innovation will continue to generate market growth, improve public perception, protect public health and safety and enhance the implementation of state programs and regulations.
Cannabix Technologies Inc. (OTC: BLOZF) is also listed on the Canadian Securities Exchange under the ticker (CSE: BLO). Just earlier today the company announced breaking news that the, "developer of the Cannabix Marijuana Breathalyzer for law enforcement and the workplace, is pleased report that it has received an initial version of its portable handheld device that will provide for easy collection of breath samples at the point of care. In collaboration with Company scientists, MistyWest Engineering of Vancouver was engaged to develop a breath collection unit ("BCU") in late November, that would interface directly with the innovative FAIMS (field asymmetric waveform ion mobility spectrometry) based instrument for the detection of THC in human breath that Cannabix is developing. The BCU is a proprietary device that will make it easier to collect key physiologic breath sample data under different environmental conditions to determine the effects of such parameters on a ∆9-tetrahydrocannabinol ("THC") breath sample. BCU components were machined and assembled over the course of December and January and MistyWest has delivered an initial version of the BCU. Images of the Cannabix BCU can be seen at the Company's website at cannabixtechnologies.com
Cannabix will use the new BCU for the collection of multiple samples, from multiple users under a variety of conditions, in an efficient manner. The BCU is lightweight, runs on a conventional battery and includes a self-contained specialized breath sample container that integrates directly with the Company's FAIMS detection device for analysis. The BCU has been designed to collect numerous samples required for pilot and research testing and be easy to administer by untrained personnel.
The BCU real time data display wirelessly connects to an android device for live data streaming and this data can be sent to the cloud for further analysis and storage. Currently the BCU will collect key real-time parameters of breath flow rate, total volume, relative humidity measurements, as well as carbon dioxide levels, and temperature - these measurements and others, will help Cannabix, regulators and industry scientists determine key physiologic parameters needed for standardizing a breath sample for FAIMS THC content and its decay metrics. There is currently scant information related to these critical physiologic data points available for human breath in THC smokers.
Cannabix has been building upon its promising characterization results from 2018 and with additional FAIMS cells to improve resolving power and establish repeatable results in multiple devices. Thus far testing has demonstrated the ability to isolate Δ9-tetrahydrocannabinol ("THC") and suppress background substrates substantially. FAIMS works as an "ion blocking" technology, essentially blocking unwanted ions/analytes and allowing specified ions to pass through for detection. The characterization work has been conducted using a bench version of the FAIMS device. Cannabix scientists have been actively tuning the FAIMS device coupled to real time switchable mass spectrometry to detect key molecules and their complex pathways in the body to enable the identification of recency of use.
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 durable, portable hand-held tools to market to enhance detection of marijuana impaired driving offences on roads at a time when marijuana is becoming legal in many global jurisdictions. 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.
Neptune Wellness Solutions Inc. (NASDAQ: NEPT) specializes in the extraction, purification and formulation of health and wellness products. Neptune Wellness Solutions Inc. recently announced that it had received its license to process cannabis from Health Canada. "In 2017, we embarked upon a new strategic vision to position the Company in growth markets such as the legal cannabis market and to become a global leader in cannabis extraction, purification and formulation of value-added differentiated products. Since then, we have executed a carefully-planned roadmap to ready our significant manufacturing capacity for production, secure multi-year commercial contracts with great companies like Canopy Growth, and expand our strategic relationships, recently beginning a collaboration agreement with Lonza, a global market leader for the production of unique value-added capsules. We realized all this while moving along the various steps of the licensing process. Today, with our Health Canada processing license in hand, we officially enter the sizable cannabis market and are fully ready to commence commercializing our extraction capabilities. This tremendous achievement reflects the professionalism and experience of our team, led by Michel Timperio, who is fully committed and excited to begin actual delivery on the promise of our vision. Furthermore, we are very proud to be one of the few Quebec-based companies that have received a license from Health Canada, and look forward to contributing to this emerging industry in our home province," said Jim Hamilton, President & Chief Executive Officer of Neptune.
Organigram Holdings Inc. (OTCQX: OGRMF) is a TSX Venture Exchange listed company whose wholly owned subsidiary, Organigram Inc., is a licensed producer of cannabis and cannabis-derived products in Canada. Organigram Holdings Inc. recently announced that the Company had entered into an agreement with 1812 Hemp, a New Brunswick based industrial hemp research company to secure supply and support research and development on the genetic improvement of hemp through traditional plant breeding methods. 1812 Hemp is focused on further developing a line of Canadian cultivars (specific varieties of plants cultivated to enhance desirable qualities) of high cannabidiol (CBD) yielding hemp for the Canadian climate. Under the terms of the agreement, Organigram will have access to a secure supply of hemp flower which contains significant levels of cannabidiol (CBD cultivars ranging from 4% to 8%). CBD is a naturally occurring active ingredient in hemp and cannabis that is currently being studied for various therapeutic uses. "Maximizing the CBD yield of hemp and cannabis means being able to meet increasing consumer demand for CBD while reducing overall production costs," explains Greg Engel, Chief Executive Officer Organigram. "We are proud to work with other industry-leading companies and researchers to continue to explore the potential of hemp and cannabis plants and the efficiency with which we can deliver CBD to our customers."
Origin House (OTCQX: ORHOF) is a growing cannabis products and brands company operating across key markets in the U.S. and Canada, with a strategic focus on becoming a preeminent global house of cannabis brands. CannaRoyalty Corp. d/b/a Origin House recently announced that its wholly owned subsidiary, CRHC Holdings Corp., has completed the sale of 51% of its 10% equity stake in Bodhi Research & Development Inc. to Green Relief Inc. Pursuant to the previously disclosed agreement, Green Relief has purchased from CRHC and other vendors, 51% of all outstanding common stock of Bodhi Research. As consideration for the Share Purchase, Green Relief has paid CRHC USD 1.74 Million in Green Relief common shares. Bodhi Research is conducting research trials for exploring the use of cannabis in the treatment of concussions and post-concussive syndromes. "This transaction represents continued progress against our stated commitment to create shareholder value by monetizing high-quality assets, not directly used to support and expand the Company's distribution and brand network in its core market of California. We are equally pleased for Dr. Neilank Jha and his team, who will have an opportunity with Green Relief, to focus on executing the future vision of the company. The significant gain from this early investment along with similar transactions Origin House has executed over the past year, highlights our team's successful track record in identifying strategic segments within the cannabis industry and generating substantial returns for shareholders," said Marc Lustig, Chairman and Chief Executive Officer of Origin House.
Terra Tech Corp. (OTCQX: TRTC) operates through multiple subsidiary businesses including: Blüm, IVXX Inc., Edible Garden, and MediFarm LLC. Recently, Terra Tech Corp. announced that Mayor Pauline Cutter of San Leandro, CA will speak at Terra Tech's grand opening of its Blüm San Leandro medical cannabis dispensary. The ribbon cutting ceremony took place on January 11th, 2019 at the dispensary located at 1915 Fairway Drive San Leandro, CA, 94577. Chief Executive Officer, Derek Peterson, said, "San Leandro will be a great location for Terra Tech's new medical cannabis dispensary as the city has proven to be an expanding hub of innovation and business. Having a dispensary up and running in San Leandro is the perfect way to start off 2019 by increasing Terra Tech's distribution channels in such a sought-after location. I will be speaking alongside Mayor Cutter at the event where I will touch upon the significance of this location and how it will help accelerate the growth of our company."
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