PALM BEACH, Florida, January 3, 2018 /PRNewswire/ --
According to Arcview Market Research, North Americans spent $6.7 billion on legal pot in 2016, up more than 30% from the year before and is forecast to grow to more than $24 billion by 2025. And as recreational markets come online as planned in places like Canada, California and Massachusetts, that could more than triple in the next five years, according to the company's estimates. Canada moving forward "will create some market pressure for the U.S. to step up" in areas like innovation and investment as well as policy, says John Hudak, a marijuana policy expert at the Brookings Institution. After a 33 percent increase resulting in revenues near the $10 billion mark in 2017, cannabis has its sights set on continued growth in 2018 as industry leaders leverage the positive momentum into investment in infrastructure and plant assets to expand operations and enhance production. Along with the positive revenue results, experts believe legalization will also continue to occur as the expansive industry grips economies both in the US, Canada and abroad. Active cannabis companies in the headlines this week include: Future Farm Technologies Inc. (OTC: FFRMF) (CSE: FFT), Cannabis Wheaton Income Corp. (OTC: CBWTF) (TSX-V: CBW), Abattis Bioceuticals Corp. (OTC: ATTBF) (CSE: ATT), Aurora Cannabis Inc. (OTC: ACBFF) (TSX: ACB), GB Sciences Inc. (OTC: GBLX).
Future Farm Technologies Inc. (OTCQB: FFRMF) (CSE: FFT.CN) is pleased to provide an update to its current and prospective Shareholders regarding the Company's activities over the past several months, and plans for development in the new year.
Future Farm has experienced a flurry of activity in the past several weeks and the market has responded positively to our continued efforts to create a diversified portfolio of cannabis investments for Future Farm's shareholders. We have successfully raised capital to support the various projects that we are developing throughout North America, including those in California, Maine, Florida, Rhode Island, Puerto Rico and beyond.
Future Farm shareholders have raised $1.4 Million through the voluntary conversion of both its $0.35 and $0.37 warrants from two offerings in 2017, and as most recently announced, the completion of a $4,000,000 private placement with Yorkville Advisors that enables the Company to close on the acquisition of a 10-acre operating greenhouse in Florida. Read the entire detailed update along with more news for Future Farm at: http://www.marketnewsupdates.com/news/ffrmf.html
Additional developments in the industry today include:
Cannabis Wheaton Income Corp. (OTCQB: CBWTF) (TSX-V: CBW.V) recently announced the signing of its definitive agreement with streaming partner Canntx Life Sciences Inc. Further to its previously announced interim agreement, Cannabis Wheaton Income Corp. (doing business as Wheaton Income) has entered into a definitive agreement with its streaming partner CannTx Life Sciences Inc. to finance the construction of its cannabis production facility located in Puslinch, Ont. CannTx is a privately owned company that has applied to become a licensed producer under the Access to Cannabis for Medical Purposes Regulations (ACMPR). Health Canada has confirmed that it has completed its paper review of the application and that CannTx needs to submit a confirmation of readiness to demonstrate that the facility is eligible for licensing.
Abattis Bioceuticals Corp. (OTCQB: ATTBF) (CSE: ATT.CN) recently announced an update on its previously announced proposed acquisition of GT Therapeutics Corporation, dba Green Tree Therapeutics ("GTT"). Over the past month, the Company has successfully raised over $8,500,000 in private placements and warrant exercises. These funds are expected to be used to aggressively grow the extraction business, and for laboratory expansion, acquisitions and general working capital. "We are very pleased with the rapid growth and positive momentum in Abattis," commented Rob Abenante, Chief Executive Officer of Abattis. "Many of the goals we have been working towards over the year are starting to come to fruition, which has enabled the company to raise capital that we intend to use to continue our ambitious growth strategy in 2018."
Aurora Cannabis Inc. (OTCQX: ACBFF) (TSX: ACB.TO) yesterday purchased 116,000 common shares of CanniMed Therapeutics Inc. The purchases were made in connection with Aurora's previously announced offer to purchase all of the common shares of CanniMed (the "Offer"). Aurora announced its intention to purchase common shares of CanniMed (the "CanniMed Shares") in its Offer to Purchase and Takeover Bid Circular dated November 24, 2017, which is filed on SEDAR under CanniMed's SEDAR profile. CanniMed implemented a shareholder rights plan on November 28, 2017, which prevented Aurora from commencing purchases in a timely fashion. The Ontario Securities Commission and the Saskatchewan Financial and Consumer Affairs Authority, in joint decisions dated December 22, 2017 and issued on December 27, 2017, cease traded the CanniMed rights plan.
GB Sciences Inc. (OTCQB: GBLX) closed up Tuesday over 20% at $1.02 trading over 5 million shares by the market close. Last month, the company announced its development of a cannabis strain that has an extremely high THC concentration, and also has a specifically-defined terpene profile, meaning that this potent strain may have significant medical benefits. The team was gratified to receive hard test results that verified their goal. The plant produced a THC-a content of 35.119%, as well as β-myrcene levels of 2.18% and β-caryophyllene levels of 1.01%, as tested by independent lab Digipath Labs, Inc. in Las Vegas. "Because of our research background, we're not willing to talk about things while we have only anecdotal evidence. But now, we have solid data that shows that the innovations that we have been working on for years are starting to bear fruit," said Chief Science Office, Dr. Andrea Small-Howard.
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