PALM BEACH, Florida, August 8, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
The global Cannabis industry is becoming increasingly competitive as international distribution agreements are allowing leaders in various countries to tap into lucrative new markets. Cannabis has become a booming global economy, generating billions in revenue and creating investment opportunities in fields ranging from medical to recreational. In a recent Forbes article is was stated according to Arcview Market Research and its research partner BDS Analytics, over the next 10 years, the legal cannabis industry will see much progress around the globe. Spending on legal cannabis worldwide is expected to hit $57 billion by 2027. As this growth continues, Leaders in the space are seeking to capitalize on momentum across the globe, expanding operations into new markets through innovative trade agreements. Active Cannabis companies today include: MYM Nutraceuticals Inc. (CSE:MYM) (OTC:MYMMF), Aurora Cannabis Inc (OTC:ACBFF) (TSX:ACB), Cronos Group Inc (NASDAQ:CRON) (TSX:CRON), Friday Night Inc (OTC:TGIFF) (CSE:TGIF), Crop Infrastructure Corp. (OTC:CRXPF) (CSE:CROP).
MYM Nutraceuticals Inc. (OTCQB:MYMMF) (CSE:MYM.CN) BREAKING NEWS: MYM Nutraceuticals is pleased to announce it has entered into an agreement with Amsterdam based Dutch Passion for the production and distribution of Dutch Passion branded products and seed genetics in Colombia. This follows the August 1 announcement of a similar agreement between Dutch Passion and MYM for production and distribution of branded products and seed genetics in Australia.
Established in 1987 Dutch Passion is the second oldest European Cannabis seed company and for over 30 years has been a leading innovator of seed genetics. Dutch Passion has developed its own proprietary genetics and owns a seed collection of international cannabis genetics dating back to the 1970s. Since Dutch Passion was established in 1987, the company has won more than 50 Cannabis Cups for its high-THC, easy-to-grow varieties. Dutch Passion also invented feminized cannabis seeds in the 1990s and, more recently, helped pioneer the success of high-THC auto-flowering cannabis seeds.
"We are thrilled to be working with Dutch Passion in both Australia and Colombia. With over 30 years-experience in the development and distribution of cannabis seeds, they are considered to be world leaders," said Rob Gietl, CEO of MYM. "As legal production of cannabis has been rapidly increasing worldwide, so has the demand for seed genetics. The Dutch Passion portfolio of seeds will prove to be a very valuable asset to the shareholders of MYM."
Eric Siereveld, CEO of Dutch Passion Seed Company commented, "There were a lot of options when we were considering working with producers in Colombia. We chose to partner with MYM because of their strong network and organization in the global cannabis industry. We are confident that MYM has the best environment to maximize the potential of the genetic products we offer."
Dutch Passion agreed to give MYM exclusive rights in Colombia to produce and distribute under the Dutch Passion brand, all products that Dutch Passion sells currently and may sell in the future, including: clones, flowers, pre-rolled joints and other cannabis products. Colombia is poised to be one of the world's leading exporters of Cannabis products due to its favorable growing environment and low production costs. Dutch Passion also agreed to give MYM non-exclusive rights in Colombia to produce and/or distribute cannabis seeds under the Dutch Passion brand. Read this entire Company update and more news for MYM Nutraceuticals at: http://www.marketnewsupdates.com/news/mymmf.html
In other cannabis developments of note:
Aurora Cannabis Inc (OTCQX:ACBFF) (TSX:ACB.TO) recently announced that it has entered into a letter of intent whereby Aurora intends to acquire the cannabis business of HotHouse Consulting Inc. ("HotHouse"), a provider of advanced greenhouse consulting services. Founded by industry veteran Laust Dam in 2004, HotHouse specializes in hybrid greenhouse growing techniques. Since its founding, HotHouse has consulted on a variety of agricultural crops but has focused in recent years on the specialized requirements of large scale cannabis production. With more than 70 years of combined experience, HotHouse's team of consultants currently provide services for approximately 50 customers globally. Upon closing of the acquisition, Laust Dam will join Aurora Larssen Projects ("ALPS") as VP of Horticultural Development.
Friday Night Inc (OTCQB:TGIFF) (CSE:TGIF.CN) recently announced record sales for the month of July from its subsidiaries in Nevada. Alternative Medicine Association ("AMA") and Infused MFG ("Infused") reported combined sales in July of $1.6M CAD, a 362 percent increase over July 2017. This record month of sales comes at the same time the company celebrates its first year anniversary. AMA's cannabis flower sales contributed 35 percent, while sales of concentrates generated 65 percent of AMA's revenues. Infused's line of CBD products contributed 85 percent of sales, while 15 percent relates to its expanding hemp-based line. Sold in State-licensed dispensaries and retailers, AMA and Infused products continue to see increased sales and market share.
Crop Infrastructure Corp. (OTCPK:CRXPF) (CSE:CROP.CN) recently announced 50% net royalty on the Air Chronic Vaporizer line now available for pre-order at http://www.AIRChronic.com. Air Chronic Vaporizers are a high quality low cost product that can be used with cannabis, tobacco and oils and sell for $79.99 USD. CROP will fund and assist Air Chronic with a social media marketing campaign targeting influencers in the cannabis space in order to gain brand awareness for the line. A 2017 global e-cigarette and vaporizer market analysis and trends report states that the market is poised to grow at a CAGR of around 20.8% over the next decade to reach approximately USD $61.4 billion by 2025. Some of the prominent trends that the market is witnessing include the combination of E-cigarette/Vapes and cannabis as well as improvements in device technology and product innovation.
Cronos Group Inc (NASDAQ:CRON) (TSX:CRON) recently announced that it has entered into a joint venture partnership with a group of investors led by Bert Mucci (the "Greenhouse Partners"), one of Canada's most sophisticated greenhouse operators and builders. This partnership will function through a newly formed entity, Cronos Growing Company Inc. ("Cronos GrowCo"), which will develop, construct and operate a state-of-the-art purpose-built greenhouse for cannabis production in Kingsville, Ontario. Cronos GrowCo is a 50/50 partnership between the Company and the Greenhouse Partners. It will leverage over three decades of Bert Mucci's experience in designing, building and operating sophisticated large-scale greenhouses. Bert Mucci, has a long history of greenhouse growing experience and will bring a wealth of knowledge and expertise to this collaboration. He has made significant contributions to the horticultural industry in Canada, including investments in innovative technologies and environmental stewardship. With a proven track record of growth and expansions in vertically integrated operations - from seed to package. Bert Mucci has overseen thousands of employees and over 200 acres of fruit and vegetable greenhouses in southwestern Ontario.
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