FinancialBuzz.com News Commentary
NEW YORK, March 11, 2019 /PRNewswire/ -- The rapidly developing cannabis industry is quickly becoming a major global marketplace. Several countries across the world are adopting cannabis legislation, with particular interest being expressed in medical cannabis. Major players from the U.S. and Canada are thriving in the industry as they develop premium products such as oils, tinctures, creams, and strains for consumers. Globally, many countries have also locked in distribution agreements with companies operating in the U.S. or Canada. Countries such as Australia, Germany, and the United Kingdom have signed such agreements with distributors to receive medicinal cannabis imports. According to data compiled by a European investment bank, Bryan, Garnier & Co., the global legal cannabis market is projected to reach USD 140 Billion by 2027. With the market expected to continue to flourish as more countries move towards legalizing cannabis. Although many regions around the world have not fully legalized cannabis yet, a handful allow for personal consumption in minimal amounts. Primarily, the marketplace is expected to be dominated by the North American region, due in part to the U.S. and Canada's large recreational market space. Biome Grow Inc. (OTC: BIOIF) (CSE: BIO), Auxly Cannabis Group Inc. (OTC: CBWTF) (TSX-V: XLY), AXIM Biotechnologies, Inc. (OTCQB: AXIM), Planet 13 Holdings Inc. (OTC: PLNHF) (CSE: PLTH), VIVO Cannabis Inc. (OTC: VVCIF) (TSX-V: VIVO)
With the recent boom in the industry, companies are actively seeking employees to fill rapidly developing job positions. Jobs such as dispensary managers and budtenders are popular, but there are also jobs like lab technicians, brand ambassadors, extractors, trimmers, and delivery drivers, according to News Times. For example, in December 2018, Glassdoor found 1,512 new cannabis job openings using its database, a 76% increase from the previous year. Slightly more than half of the job openings were for professional and technical workers, ranging from marketing positions, to plant scientists, to accountants. Cities such as San Francisco, California and Denver, Colorado account for the majority of these job openings. Moreover, California and Colorado are the biggest global market drivers, as they each drove in over a billion dollars in revenue in 2017. "Cannabis industry roles on Glassdoor are highly diverse, requiring an array of skills and backgrounds from marketing and retail to research and agriculture. The jobs available, however, broadly fit into three categories: service and retail, professional and technical, and labor and physical," according to Glassdoor's cannabis job report, "The cannabis industry in the U.S. faces myriad risks in the future with uncertainty over its legal status and uneven state-level regulations. However, by increasing hiring and investing in human capital, employers are signaling their confidence in the long-term staying power of the cannabis industry."
Biome Grow Inc. (OTCQB: BIOIF) (CSE: BIO) also listed on the Canadian Securities Exchange under the ticker (CSE: BIO). Earlier last week, the Company announced that, "After an overwhelming demand for its products in its home province, Biome Grow's Nova Scotia based brand, Highland Grow, will be dramatically increasing its operations. This is further validation of Biome's localized approach to building a locally owned and operated brand that offers high quality products specifically created for the local consumer.
As part of this expansion, Highland Grow will immediately be adding twenty-five new jobs. An integral part of this plan is our newly announced Memorandum of Understanding ("MOU") with the Mi'kmaw Native Friendship Centre to develop an innovative job training, skills and employment opportunities program for urban indigenous people in the region.
Within two weeks of signing this MOU, Biome sent the Mi'kmaw Native Friendship Centre a request to immediately assist Biome in filling five new positions to join our Highland Grow's rapidly growing facility. These first five jobs will be in supply chain logistics, packaging, quality control, and cultivation.
"This partnership offers Biome a unique opportunity to demonstrate its social responsibility as a trusted corporate citizen, and truly be part of the community we operate in – to always be locally owned, locally operated and our products to be locally grown," said Khurram Malik, CEO, Biome Grow. "These are stable, long term careers for local people to work in one of the fastest growing and most innovative industries in the world. We wanted to work with The Mi'kmaw Native Friendship Centre from the very beginning to ensure that these opportunities were made available to everyone, specifically to local indigenous communities."
The three-year partnership will see the Mi'kmaw Native Friendship Centre and Biome Grow collaborate on Indigenous focused training programs and employment support projects in the cannabis sector. Job skills in the sector include medical handling and packaging proficiencies, product compliance and cultivation, quality control and analysis, shipping, classification and inventory control systems."
For our latest "Buzz on the Street" Show featuring Biome Grow Inc. recent corporate news, please head over to: https://www.youtube.com/watch?v=RluTAMEejwY
Auxly Cannabis Group Inc. (OTCQX: CBWTF) (TSX-V: XLY) is a vertically integrated cannabis company with diverse operations across Canada and Uruguay. Auxly Cannabis Group Inc. recently announced that, further to its previous releases, it has completed the acquisition of 80% of the outstanding common shares of Inverell S.A. The Transaction positions the Company as a leader in the global CBD economy with a highly efficient, low-cost source of cannabinoids for international distribution, including through the Company's strategic partnership with ICC International Cannabis Corporation Inc. (CSE: WRLD) which provides the Company with access to 16 markets through a network of 35,000 pharmacies. Importantly, the low cost, high purity CBD produced by Inverell gives the Company a long-term and stable supply of CBD to support the research, development and manufacturing of cannabis-derived products at Dosecann Inc., the Company's wholly-owned Licensed Processor facility located in Prince Edward Island, Canada. Hugo Alves, President and Director of Auxly Cannabis Group, commented: "We are incredibly pleased with progress that Inverell has made on the cultivation of its 2019 crop of CBD-rich hemp and on the broader development of the business as a stand-alone entity in the Auxly platform. In a very short period, Inverell has exceeded its 2018 planting target of 150 hectares of hemp plants and has made significant strides forward on the development of its world-class extraction facility located in the Parque de las Ciencias. We continue to believe that the low cost and high volume access to CBD molecules, through our ownership in Inverell, positions Auxly to be a leader in the global value-added cannabinoid-based product markets."
AXIM Biotechnologies, Inc. (OTCQB: AXIM) is a world leader in the research and development of cannabinoid-based pharmaceutical products. AXIM Biotechnologies, Inc. recently announced that the Company had successfully microencapsulated cannabinoids into its patented chewing gum delivery mechanism for use in the Company's proposed clinical trials. AXIM utilized the Company's proprietary extraction process for cannabinoids to derive cGMP-quality cannabinoid molecules and successfully microencapsulated them into a reformulated version of its chewing gum product for use in future clinical trials. The Company researched various chewing gum formulations with the different excipients, which interact and result in an increased release profile, in order to determine which product to conduct clinical trials on. Additionally, stability testing was conducted on the microencapsulated molecules through a leading contract development and manufacturing organization ("CDMO") in Europe. "Microencapsulation of cannabinoids into AXIM's reformulated chewing gum pharmaceutical candidate is a major milestone for the company's strategic clinical development program, which is focused on programs with the highest probability of success," said AXIM® Biotechnologies, Inc. Chief Executive Officer John W. Huemoeller II. "This successful encapsulation and formulation of our pharmaceutical cannabinoid-based products will allow us to move forward with human clinical trials. The microencapsulation of cannabinoids allows for more efficient absorption by the body not previously seen in other formulations and is necessary to receive the maximum benefits of the cannabinoids.
Planet 13 Holdings Inc. (OTCQB: 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 has begun construction of a 14,000 sq. ft. production facility, co-located with the Planet 13 Cannabis Entertainment Complex at 2548 W Desert Inn Rd, Las Vegas. The Production Facility will enable Planet 13 to meet the rapidly growing demand for its TRENDI concentrate and vape lines, which it launched in November. It will also be used to address the overwhelming demand for Planet 13's Medizin line and to launch additional brands and product lines. The Production Facility will offer an immersive experience to customers, featuring 115 feet of windows where visitors can watch and learn what goes into the creation of individual products. Interactive kiosks will be available near the production viewing area to teach customers what goes into making their favorite product, offering Planet 13 a powerful branding opportunity. "Both our TRENDI and Medizin vapes and concentrates sell-out consistently. This new Production Facility will enable us to keep pace with demand while adding highly attractive gummies, chocolates and beverage lines. With the expanded production capacity, we expect to begin offering our products in dispensaries across the state," said Bob Groesbeck, Co-Chief Executive Officer of Planet 13. "This is just the beginning of our planned expansion. We are consistently adding features to solidify the SuperStore as a must-visit destination in Las Vegas, growing average traffic and ticket, and exploring opportunities to leverage our growing brand awareness into accretive opportunities both within Nevada and in other attractive U.S. markets."
VIVO Cannabis Inc. (OTCQX: VVCIF) (TSX-V: VIVO), based in Napanee, Ontario is recognized for trusted, high-quality products and services. VIVO Cannabis Inc., through its wholly-owned subsidiary, Canna Farms Limited, recently announced the launch of Canna Farms' integrated online medical cannabis website. This newly launched medical cannabis store creates one of the largest online platforms for medical cannabis users across Canada, with an industry-leading offering of brands and products. Combining the Beacon Medical™ and Canna Farms™ brands with those of other cultivators, the online store will provide patients across Canada with a single location to access a broad selection of medical cannabis. "Canna Farms' integrated online store will cater to discerning medical cannabis consumers," said Daniel Laflamme, President of Canna Farms. "Supplying the market with high-quality, standardized, medical-grade cannabis is a primary focus for VIVO," said Barry Fishman, VIVO's Chief Executive Officer. "We are proud to say that we now provide one of the broadest offerings of medical cannabis products in Canada."
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