PALM BEACH, Florida, October 16, 2018 /PRNewswire/ --
Financialnewsmedia.com News Commentary
The Cannabis and legal marijuana industry craze is poised to reach new heights this week days before Canada legalization takes effect. It also has become apparent that CBD is the driving force that has allowed cannabis to go mainstream as a variety of big-name companies and investors continue to dump millions into the development of CBD-based products. The investment by large corporations, covered by media outlets across the globe, has inspired confidence in the long-term outlook of the cannabis industry. CBD-based beverages are garnering all of the attention due to the recent headlines of Coca-Cola potentially getting involved in the space, but the reality is there are a number of CBD-based products that are already generating consistent and strong revenues on a daily basis. Already a $1 billion market, CBD has staying power and is not anticipated to experience slowed growth at any point in the near future. Active Companies from around the market with current developments this week include: Puration Inc. (OTC:PURA), Cronos Group Inc. (NASDAQ:CRON) (TSX:CRON), Medical Marijuana Inc. (OTC:MJNA), PotNetwork Holdings Inc. (OTC:POTN), MedMen Enterprises Inc. (OTC:MMNFF) (CSE:MMEN).
Puration, Inc. (OTCPK:PURA) BREAKING NEWS: Puration today announced a podcast interview of Puration CEO Brian Shibley released by Goldman Small Cap Research. The interview provides an in-depth overview of where the CEO sees Puration in the cannabis infused beverage space as major beverage companies start to show interest and move into the market. Hear the CEO discuss the recent interest in Puration's EVERx CBD Sports Water shown by LA Libations, the key innovation partner of The Coca-Cola Company. Coca-Cola owns a minority stake in LA Libations. Also, here the CEO discuss Puration's ongoing and developing relationship with Europa Sports Products, the leading distributor of nutritional sports supplements, sports drinks and accessories in the United States.
To listen to the interview, along with reading associated disclosures and disclaimers, visit http://www.goldmanresearch.com/201810151213/Opportunity-Research/puration-ceo-interview.html
Puration Interview Highlights - Puration, Inc. is a leading Texas-based, CBD-infused beverage provider. The Company's flagship product, EVERx, which was introduced in 2017, targets the sports nutrition market. Puration plans to introduce new beverages as well as grow its product portfolio organically as well as through targeted acquisitions. As of October 2018, the Company spun off its cannabis cultivation segment to focus its efforts exclusively on its high-growth core CBD-infused beverage business.
According to Hemp Business Journal, the overall hemp-based CBD market is forecast to grow from $820 million in 2017 to $1.9 billion in 2022 and given that the market remains fragmented, fast-growing PURA is well positioned to capture market share very quickly.
During the interview, Puration CEO Brian Shibley and Goldman Small Cap Research founder Rob Goldman discussed recently demonstrated interest in the CBD infused beverage market by top tier beverage companies. These include Constellation Brands, Coca-Cola, Heineken, and others. Shibley also noted discussions Puration has recently engaged with an affiliate of Coca-Cola, LA Libations, along with a leading distributor in the sports nutrition market, Europa. Read this and more news for PURA at: http://www.financialnewsmedia.com/news-pura/
In the industry developments and happenings in the market this week include:
Cronos Group Inc. (NASDAQ:CRON) (TSX:CRON) recently announced that it has entered into a sponsored research agreement with the Technion Research and Development Foundation of the Technion - Israel Institute of Technology ("Technion") to explore the use of cannabinoids and their role in regulating skin health and skin disorders. The preclinical studies will be conducted by Technion over a three-year period and will focus on three skin conditions: acne, psoriasis and skin repair. Research will be led by Technion faculty members Dr. David "Dedi" Meiri, Head, Laboratory of Cancer Biology and Cannabinoid Research and Dr. Yaron Fuchs, Head, Laboratory of Cancer Biology and Cannabinoid Research, two of the world's leading researchers in cannabis and skin stem cell research, respectively. Dr. Meiri heads the Laboratory of Cannabis and Cancer Research with vast experience in cannabis and endocannabinoid research. Dr. Fuchs heads the Laboratory of Stem Cell Biology and Regenerative Medicine with years of experience in the biology of the skin and its pathologies. Development and implementation of the research will be conducted at Technion's Laboratory of Cancer Biology and Cannabis Research and the Lorry I. Lokey Interdisciplinary Center of Life Sciences and Engineering in Haifa, Israel.
Medical Marijuana Inc. (OTCPK:MJNA) announced that an executive from its subsidiary HempMeds® Brasil spoke on the benefits of cannabidiol (CBD) hemp oil at the Fourth International Congress of Neuroscience at the Albert Einstein Hospital in São Paulo, Brazil on Oct. 5, 2018. "Participating in the International Congress of Neuroscience allows us to connect with medical professionals throughout Brazil and offer important education on the benefits of CBD," said Medical Marijuana, Inc. CEO Dr. Stuart Titus. "Supporting CBD research and education throughout the world is one of our top priorities and we're honored to be a trusted resource for the Brazilian community." The event venue, the Albert Einstein Hospital, is one of the most modern private hospitals in Latin America, boasting more than six thousand registered doctors. It was the first health institution outside the United States to be certified by the Joint Commission International. HempMeds® Brasil Director of Medical Affairs Junior S. Gibelli spoke during the event and educated doctors about CBD as a supplement for both children and adults. Some of the most highly regarded Brazilian doctors and healthcare professionals attended and received new information about breakthroughs in cannabis research during this presentation.
MedMen Enterprises Inc. (OTCQB:MMNFF) (CSE:MMEN.CN) opened the week by announcing additional detail related to the binding letter of intent (the "Agreement") for MedMen to acquire all of PharmaCann's outstanding equity interests. Under the terms of the Agreement, PharmaCann units will be exchanged for equity interests which will include the right to receive the Company's Class B Subordinate Voting Shares ("Shares"), and which on a pro-forma basis will equal 25% of the then fully-diluted outstanding shares of the Company (calculated based on the treasury stock method) upon the closing of the transaction (the "Closing"). The total transaction was valued at $682 million (USD) based on the closing price of the Company's Class B Subordinate Voting Shares on October 9, 2018 (such value being subject to change based on the daily closing price of the Company). No change of control to the Company will result upon the Closing. The Shares are expected to be subject to lock up agreements for a period of between 6-12 months. The transaction is subject to regulatory approvals by various local and state authorities in each of the U.S. states where PharmaCann's assets and licenses are held (the "Approvals"). The Closing is expected to take 6-12 months based on the receipt of the Approvals. In the event that certain Approvals are not obtained by the Closing, a portion of the Share consideration, as determined by the parties (but in no event more than 30% of the consideration), will be held in escrow until the Approvals are received, and such escrowed Shares shall be released to PharmaCann unitholders upon the receipt of such Approvals. In the event that an Approval is not able to be obtained within 24 months following the execution of definitive documentation, the parties shall will use commercially reasonable efforts to transition such license to a third party with any such proceeds going to the Company and any related escrowed shares released to PharmaCann unitholders.
PotNetwork Holdings, Inc. (OTCPK:POTN) announced this week that it has filed a Registration Statement on Form 10 with the U.S. Securities and Exchange Commission (SEC) to register its common stock under the Securities Exchange Act of 1934, as amended (the Act) including its audited financial statements for the year ended December 31, 2017 and unaudited interim financial statements through June 30, 2018. POTN had engaged PCAOB member firm Manohar, Chowdhry & Associates, in July 2017 to replace its former auditor. The Company's voluntary filing of the Form 10 will make the Company subject to the periodic reporting requirements of the Act which includes annual, quarterly and current report filings. Additionally, the filing will enable the Company's management to move forward with its application to OTC Markets to uplist to the OTCQB market tier.
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