PALM BEACH, Florida, January 24, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
The international cannabis industry continues to blaze red hot as deregulation and increased consumer interest are poised to drive the market past $30 billion by 2021, according to a report from the Brightfield group. With the market near $7.7 billion towards the end of 2017, this would be a compound annual growth rate of 60% each year. Plenty of Canadian cannabis companies are striking international deals, exporting their products to markets in Europe and South America. Canada is leading the way but markets are starting to open in Europe, Latin America and beyond. And they are growing even faster than the U.S. Active Cannabis companies today include: MYM Nutraceuticals Inc. (CSE: MYM) (OTC: MYMMF), Aurora Cannabis Inc. (OTC: ACBFF) (TSX: ACB), Freedom Leaf Inc. (OTC: FRLF), ABcann Global Corporation (OTC: ABCCF) (TSX-V: ABCN), Emerald Health Therapeutics Inc. (OTC: EMHTF) (TSX-V: EMH).
In response to recent news out of the United States Department of Justice regarding federal cannabis laws in the United States, MYM Nutraceuticals Inc. (OTCQB: MYMMF) (CSE: MYM.CN) wishes to reinforce its commitment to growing and conducting business only in jurisdictions where that conduct is federally legal and otherwise in full compliance with all applicable laws in place. MYM does not currently have any operations in the United States and will not engage in that country unless significant changes to the federal laws regarding cannabis are made. This stance is to protect the company and its shareholders.
MYM Nutraceuticals is an international company, with operations in Australia, Canada, and most recently seeking operations in Colombia. We are pleased with our progress on each of our global operations and the prospects they bring. Read this entire Company update and more news for MYM Nutraceuticals at: http://www.marketnewsupdates.com/news/mymmf.html
Because our operations hold significant potential, and are in favorable business jurisdictions, MYM is privileged to have options when it comes to financing our current and future projects and operations. We are currently exploring all options that bring the least amount of dilution to our shareholders.
As an unintended benefit of not conducting operations in the United States, MYM has been presented with multiple options from financiers looking for safe havens for their investments. However, we continue to build business relationships throughout the United States in anticipation of any changes that lead to the opening of the country for business. Should those changes be made, MYM is ready and prepared to initiate legal operations in the USA. Article continues at: http://www.marketnewsupdates.com/news/mymmf.html
In other recent cannabis developments of note:
Aurora Cannabis Inc. (OTCQX: ACBFF) (TSX: ACB.TO) provided an update on its international activities. Further to Aurora's January 4, 2018 news release, the Company's Aurora Nordic joint venture will be accelerating its time to market in Denmark with the retrofit of an existing 100,000 square foot greenhouse in Odense, Denmark owned by Alfred Pedersen & Søn ("APS"). Subject to licensing by Lægemiddelstyrelsen, Denmark's Medicines Agency, this will enable Aurora Nordic to commence the cultivation of cannabis during the summer of 2018, while the company is constructing its new purpose-built high-technology 1,000,000 square foot production facility. Read the full release here: https://finance.yahoo.com/news/aurora-cannabis-provides-international-activities-194700781.html
Freedom Leaf Inc. (OTCQB: FRLF) closed Tuesday up over 70% trading over 9.3 million shares by the market close. The company recently announced that Richard Groberg, through his RSGroberg Consulting, LLC, has signed a two year agreement with Freedom Leaf to serve as its Chief Financial Officer (CFO). Groberg brings more than 35 years of experience to Freedom Leaf, both as a C-level operating executive and investment banker. Groberg has significant experience; starting, building, managing, raising public and private equity capital and effecting shareholder value-enhancing transactions for startups, turnarounds and multi-unit operating businesses. While Groberg has helped build and manage large organizations, he also has significant hands-on experience as a "roll up the sleeves" operating executive.
ABcann Global Corporation (OTCQB: ABCCF) (TSX-V: ABCN.V) recently announced that its wholly-owned subsidiary, ABcann Australia Pty Ltd. ("ABcann Australia"), has received an import license from the Federal Office of Drug Control in Australia. ABcann continues to work with government and its industry partners in Australia to develop exclusive programs targeting physician networks. Following receipt of any necessary approvals, including the approval of the TSX Venture Exchange, ABcann intends to supply medicinal cannabis to the Australian market via the Australian Department of Health's TGA (Therapeutic Goods Administration) Special Access Scheme. "This import license is a key milestone towards generating revenue through ABcann's network of physicians, pharmacists and patients, and advancing the use of medical cannabis," commented Barry Fishman, Chief Executive Officer of ABcann.
Emerald Health Therapeutics Inc. (OTCQX: EMHTF) (TSX-V: EMH.V) recently announced Northern Vine Laboratories ("Northern Vine") has been contracted by Abattis to provide cannabinoid-rich, THC-free, hemp extract and to carry out research, development and analytical testing related to the formulation of a unique hemp- and cannabis-infused beer. Emerald co-owns Northern Vine with Abbatis. Northern Vine is a Licensed Dealer under the provisions of the Canadian Controlled Drugs and Substances Act. As a Licensed Dealer, Northern Vine has the ability to import/export cannabis and cannabis oils, as well as the right to conduct certain activities related to the manipulation, formulation, dosage form, and strength or package size of cannabis, including mixtures with other additives, controlled substances, and non-controlled substances. "Having the Northern Vine team on board ensures the final product will deliver a precise and consistent amount of pesticide-free cannabinoids in every single bottle," said Dr. David Galvez, Senior Science Advisor for Northern Vine and Abattis.
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