Financialnewsmedia.com News Commentary
PALM BEACH, Florida, June 13, 2019 /PRNewswire/ -- Global spending on cannabis could reach $57 billion by 2027, according to Arcview Market Research and BDS Analytics. In their report, "The Road Map to $57 Billion Worldwide Market," analysts note that the South American market for example could grow from $125 million in 2018 to $776 million by 2027. They also note that Germany could become the leader in the European cannabis market, with Italy expected to see $1.2 billion cannabis sales by 2027. Companies are even finding opportunity in Greece, which legalized medical cannabis in 2018. Such international growth is opening a wide range of opportunity for companies including The Yield Growth Corp. (CSE:BOSS) (OTCQB:BOSQF), PharmaCielo Ltd. (TSX-V:PCLO) (OTCPK:PHCEF), Canopy Growth Corp. (TSX:WEED)(NYSE:CGC), Aurora Cannabis Inc. (NYSE:ACB)(TSX:ACB), and Wayland Group Corp. (CSE:WAYL)(OTCQB:MRRCF).
The Yield Growth Corp. (CSE:BOSS)(OTCQB:BOSQF) BREAKING NEWS: The Yield Growth Corp. just announced that it signed a letter of intent with Melorganics for international distribution of Urban Juve products in Greece and Cyprus. The LOI contemplates that Melorganics will act as the exclusive retail distributor and non-exclusive e-commerce distributor for Urban Juve products in Greece and Cyprus. To maintain exclusively in the territory, Melorganics must purchase a minimum amount of Urban Juve products of $300,000 in Year 1 and $500,000 in each subsequent year. Urban Juve plans to register all its existing products in the European Union, and Melorganics will sign the requisite mandate with Urban Juve's European Responsible Person. Melorganics will also support Urban Juve sales with a marketing plan tailored to the region. The parties plan to enter into a definitive long form agreement within 30 days. "We expect our alliance with Melorganics will allow us to bring high-quality Ayurveda-inspired formulations to the growing luxury market in Greece and Cyprus," says Penny Green, CEO of Yield Growth. " For more information on BOSS, please visit: https://yieldgrowth.com/
Other cannabis-related developments from around the markets include:
PharmaCielo Ltd. (TSXV:PCLO)(OTCPK:PHCEF) just announced that it has entered into a scheme implementation agreement pursuant to which PharmaCielo has agreed to acquire all of the issued and outstanding shares and listed options of Creso Pharma Ltd. for an aggregate purchase price of approximately A$122 million. Creso Pharma is a global medicinal cannabis company that specializes in research, development and production of therapeutic, nutraceutical and animal health products. PharmaCielo will pay A$0.63 per Creso Pharma share, representing a premium of 50% over the closing trading price of the Creso Pharma shares on May 31, 2019. The purchase price for the Creso Pharma shares will be satisfied by the issuance of PharmaCielo common shares priced at CAD$7.6166 per PharmaCielo Share being the 3-day volume weighted average trading price for the PharmaCielo Shares representing an exchange ratio of a 0.0775 PharmaCielo Shares per each Creso Pharma share.
Canopy Growth Corp. (NYSE:CGC)(TO:WEED) just announced the next phase in its partnership with Parent Action on Drugs and Canadian Students for Sensible Drug Policy which will see PAD launch two new digital tools to help youth along with their parents, adult caregivers, and influencers, on how to make responsible decisions about cannabis use. PAD employed the technical expertise of Massively, a leader in artificial intelligence, to develop a fun and interactive chatbot designed to engage, educate and encourage conversation between parents and their kids about cannabis. This tool helps parents structure conversations with their pre-teens about cannabis to inform and prevent early use, associated with a number of negative short and long-term outcomes. By having an informed, open dialogue about cannabis, parents can protect their children while creating a culture of knowledge and resiliency.
Aurora Cannabis Inc. (NYSE:ACB)(TO:ACB) was selected by the Luxembourg Health Ministry as the exclusive supplier to supply a second delivery of medical cannabis to Luxembourg. The medical cannabis produced will be sold to Luxembourg's Division de la Pharmacie et des Medicaments, representing the second time the Company has received an order directly from the Luxembourg government. While the initial bid quantities are small, the award confirms Aurora's position as a trusted and preferred supplier to international jurisdictions and reflects the Company's ability to work with local governments and regulators in complex, restricted markets. "We are proud to continue serving as the exclusive supplier of medical cannabis to the Luxembourg Health Ministry," said Neil Belot, Chief Global Business Development Officer. "Adding to the many achievements of our European team, which also includes our recent selection as one of only three companies to establish domestic production in Germany, our expanded supply agreement with Luxembourg reinforces Aurora's ability to act as a trusted partner that can readily meet the complex needs of diverse international markets."
Wayland Group Corp. (CSE:WAYL)(OTCQB:MRRCF) just announced that it completed a transaction relating to the sale of a 49.9% interest in Maricann B.V. to ICC International Cannabis Corp. pursuant to the terms of an amended and restated transaction agreement and related subscription agreement. Wayland now beneficially owns approximately 246,614,000 shares of ICC representing approximately 37% of the outstanding ICC shares following closing on a fully diluted basis. Under the terms of the agreement, ICC is expected to subsequently acquire a 49.9% interest in the balance of Wayland's international portfolio of assets and, upon completion of that acquisition, Wayland would beneficially own an aggregate of 300,000,000 ICC shares, representing an ownership interest in ICC of approximately 41.7%. Wayland intends to distribute ICC shares to its shareholders following completion of these transactions and upon receipt of any applicable approvals required to distribute these shares on a tax effective basis.
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