Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

Companies Reach an Important Milestone in the Cannabis Market's Development


News provided by

FinancialBuzz.com

09 May, 2019, 13:00 GMT

Share this article

Share toX

Share this article

Share toX

FinancialBuzz.com News Commentary

NEW YORK, May 9, 2019 /PRNewswire/ -- Over a dozen countries have already legalized cannabis for medicinal purposes while others have also decriminalized it, allowing for moderate personal consumption. Notably, Canada had moved to legalize cannabis entirely in late 2018. However, despite the widespread international expansion, the U.S. still dominates the overall cannabis industry. The U.S. has not moved to federally legalize cannabis, but the government has granted states the ability to choose cannabis' legal status for themselves. As a result, over 30 states have legalized cannabis for medical use while 10 states including the District of Columbia have legalized its recreational use. Primarily, states such as California, Colorado, Nevada, and Washington are the primary market drivers. However, emerging states such as Massachusetts, Michigan, and Oregon are also expected to become large marketplaces as states that had legalized recreational use collectively delivered billions of dollars in revenue back in 2017. The opportunities so prevalent in the U.S. have also attracted many international companies. In particular, several cannabis companies have moved to establish operations within the U.S. because of the massive addressable market. On the other hand, Canadian companies are currently facing barriers from the government following its legalization as the Canadian government curtailed retail hours and limited licensing distributions. Nonetheless, the Canadian market is still expected to witness substantial growth as it continues to mature. According to BCC Research, the North American cannabis market was valued at USD 10.7 Billion in 2018. By 2023, the market is expected to reach USD 25.5 Billion while witnessing a CAGR of 18.9% from 2018 to 2023. Trutrace Technologies Inc. (OTC: BKKSF) (TSX-V: TTT), The Supreme Cannabis Company (OTC: SPRWF) (TSX: FIRE), Aleafia Health Inc. (OTC: ALEAF) (TSX: ALEF), Liberty Health Sciences Inc (OTC: LHSIF) (CSE: LHS), Nightfood Holdings, Inc. (OTC: NGTF)

Despite the U.S. representing vast growth opportunities, cannabis companies are still expanding their operations in Canada. According to Arcview Market Research and BDS Analytics, Canada reported legal cannabis sales in the range of USD 755 Million to USD 1.6 Billion. Furthermore, the research suggests that the Canadian legal market is expected to reach USD 7.8 Billion by 2022. On the other hand, U.S. based cannabis companies generated higher gross margins than their Canadian counterparts. Due to the opportunities present in both Canada and the U.S., many companies have established joint operations in both regions. For instance, some companies cultivate cannabis in Canada and distribute within the U.S. or vice versa. However, small-to-mid cap companies are limited in their expansion activities due to their lack of the necessary funds. Therefore, analysts have speculated that the large companies are will acquire or merge with smaller ones. "Companies with unique assets or business models are likely to be more appealing to potential buyers. Different geographies or modes of production are often cited by the buying companies," said Alan Brochstein, Founding Partner of New Cannabis Ventures, "Consolidation is picking up in the cannabis space, and investors are rewarding the companies that are buying by pushing their stocks up after the deals are announced. This will likely encourage other companies to be me more aggressive in their M&A strategies."

Trutrace Technologies Inc. (OTC: BKKSF) (TSX-V: TTT) is also listed on the TSX Venture Exchange under the ticker (TSX-V: TTT). Earlier today, the Company announced breaking news that, "it has entered into a letter of intent dated April 30, 2019 (the "LOI") with Molecular Science Corp. ("MSC"). Under the terms of the LOI, the parties will work together to explore opportunities to combine the blockchain-secured technology of TruTrace with the analytical expertise of MSC in order to deliver greater transparency and visibility around the quality of products being offered in the legal cannabis industry.

'Working with MSC marks a significant step forward for TruTrace in our mission to create a true testing benchmark for the Canadian cannabis market. Its comprehensive process of analytical testing on cannabis and cannabis products, including potency, terpene profiling, pesticide levels, heavy metals content and mycotoxins testing, combined with its commitment to bringing awareness to testing standards, ensures a higher level of quality control for the industry. By combining its services with the StrainSecure™ platform, we anticipate being able to finally create a benchmark for the cannabis industry,' said TruTrace CEO, Robert Galarza.

'MSC's collaboration with TruTrace represents an important step towards establishing and maintaining world-leading standardization and transparency for cannabis quality control in this rapidly-evolving market. The integration of MSC's analytical testing expertise with TruTrace's robust and secure technology platform is an opportunity for both parties to make a significant contribution to this important goal,' said MSC CEO, Christian Carswell.

Terms of the LOI: Under the terms of the LOI, the parties have agreed that: (a) TruTrace will include MSC. as a preferred partner; and (b) the parties will explore development and integration opportunities to utilize their mutual technologies to bring greater transparency and visibility to the legal cannabis industry. The parties have agreed to negotiate, settle and execute a definitive agreement formalizing their relationship (the "Formal Agreement") on or before June 30, 2019. Entry into the Formal Agreement, and the closing of the transactions contemplated in it, are subject to certain conditions, including completion of each party's satisfactory due diligence review of the other.

About TruTrace Technologies: TruTrace Technologies has developed the first integrated blockchain platform to register and track intellectual property in the cannabis industry. TruTrace's technology allows cannabis growers and breeders to identify and secure rights to their intellectual property. It also streamlines the administrative process and reduces the costs of genetic and mandatory quality-control testing for legal cannabis. TruTrace's technology is proprietary, immutable and cryptographically secure, thereby establishing a single-source, accurate, validated and permanent account for cannabis strains from ownership to market."

For our latest "Buzz on the Street" Show featuring Trutrace Technologies Inc. recent corporate news, please head over to: https://www.youtube.com/watch?v=S8a4xzdpyzM

The Supreme Cannabis Company (OTCQX: SPRWF) (TSX: FIRE) is a Canadian publicly traded company committed to providing premium brands and products that proudly reflect its consumers, people and uniquely innovative culture. Supreme Cannabis plans to initially ship oil products to select markets before expanding distribution of its cannabis oil line to additional provinces which is expected by the end of June 2019. Each bottle will contain a proprietary blend of highly-purified cannabis oils and terpenes derived from plants grown by 7ACRES. "Premium oils require premium cannabis," said Navdeep Dhaliwal, Chief Executive Officer of Supreme Cannabis. "Our formulation will leverage super-critical CO2technology to produce a high quality, purified cannabis oil which we re-formulate with the naturally occurring cannabis terpenes from our 7ACRES' High-End CannabisTM. The result is a unique, plant-based cannabis oil that carries the award-winning qualities of our flower into an oil product for consumers looking for a premium cannabis oil experience."

Aleafia Health Inc. (OTCQX: ALEAF) (TSX: ALEF) is a leading, vertically integrated cannabis health and wellness company with four primary business units. Aleafia Health Inc. recently entered the German medical cannabis market via its joint-venture with German pharmaceutical wholesaler Acnos Pharma GmbH, together. The JV entity will purchase Aleafia Health branded cannabis oils for distribution to German pharmacies and for clinical trial usage. Aleafia Health's wholly-owned subsidiary Emblem Cannabis Corp. is the majority shareholder of the JV with 60% ownership with Acnos owning the remaining 40%. The Parties have expanded the scope of the previously announced JV formed by Acnos and Emblem, by leveraging the significantly increased access to dried flower and extraction available to the combined entity. The German medical cannabis market has grown rapidly since legalization in 2017, and is projected to produce revenues of USD 5 Billion in 2025 for cannabis producers, according to a report by Bank of Montreal. Market advantages in Germany include significantly higher margins compared to the Canadian market and reimbursement of patient purchasing costs through private and public health insurance, which is almost entirely non-existent in North America. "We are delighted to soon see the export of our cannabis health and wellness products to the world's largest medical cannabis market in Germany," said Aleafia Health Chairman Julian Fantino. "By leaning on our own core competencies of producing high-margin value added products and leveraging the local supply chain expertise of our outstanding partners, we have significantly strengthened our international footprint and done so faster and at a fraction of the cost of an acquisition."

Liberty Health Sciences Inc (OTCQX: LHSIF) (CSE: LHS) is the cannabis provider committed to providing a trusted, high quality cannabis experience based on our genuine care for all cannabis users and a focus on operational excellence from seed to sale. Liberty Health Sciences Inc. recently announced that it opened its 14th Florida dispensary in Cape Coral's South Cape business district on Friday, May 10th, subject to Florida Department of Health approval. This is the first medical facility to open in Cape Coral and Liberty's second dispensary to open in Lee County. The 3,380 sq. ft. facility includes innovative shopping displays that engage and educate patients, two private consultation rooms and a large waiting room where patients, physicians and community members can learn about the benefits of medical cannabis. The dispensary is also equipped to offer drive-through services for its patients. "We anticipate strong patient demand in the Cape Coral area, which is supported by a large population of potential patients living in Southwest Florida who can take advantage of our exceptional customer service and educational resources," said Victor E. Mancebo, interim Chief Executive Officer of Liberty. "There are many retirees living in our service area who can benefit from our products and Cape Coral is also one of the fastest growing cities in Florida. Already patients and the city of Cape Coral are embracing our presence and we are excited to provide the community with our premium medical marijuana products."

Nightfood Holdings, Inc. (OTCQB: NGTF), owns Nightfood, Inc. and MJ Munchies, Inc. MJ Munchies, Inc., a subsidiary of Nightfood Holdings, Inc. and Global Consortium, Inc. (OTC:GCGX) recently announced that the parties had entered into a Letter of Intent whereby Global Consortium subsidiary Infused Edibles would receive an exclusive license to manufacture and distribute marijuana and CBD-infused products under the Half-Baked™ mark owned by MJ Munchies. With commercial brands in the marijuana space increasingly frustrated by restrictive government advertising policies, both companies believe having the right brand name provides a distinct competitive advantage at retail in this rapidly-growing market. "We're excited to work with a company that shares our vision for national awareness and distribution," added MJ Munchies Chief Executive Officer Sean Folkson. "They have a track record of success in manufacturing and distributing a varied line of products that succeed at retail. We've been working on this for some time, which is why we have not been commenting publicly about the MJ Munchies side of our company. Now, the broad strokes are in place, and we're going to work together to quickly finalize the agreement."

Subscribe Now! Watch us report LIVE https://www.youtube.com/FinancialBuzzMedia

Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz

Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz

Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/

About FinancialBuzz.com  

FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the 'Site') is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For trutrace technologies inc., financial and corporate news dissemination, FinancialBuzz.com has been compensated five thousand dollars by the company. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.financialbuzz.com.

For further information:
Media Contact:
info@financialbuzz.com
+1-877-601-1879
Url: www.FinancialBuzz.com

Related Links

http://www.financialbuzz.com

Modal title

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • Accessibility Statement
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.