PALM BEACH, Florida, September 27, 2018 /PRNewswire/ --
Financialnewsmedia.com News Commentary
The explosive cannabis market is rapidly evolving. Fueled by astronomical levels of consumer demand, technological advancements and product diversification, the multi-billion-dollar powerhouse is emerging as one of the prominent powerhouses in 2018. Growth is expected to continue to rise behind increased legalization, which will ultimately lead to more frequent usage and therefore, more spending by consumers. North America remains one of the global frontiers for the market as Canada nears complete legalization. According to a study by Deloitte, the Canadian cannabis market alone will generate north of $7 billion in revenues in 2019. Another encouraging trend for the market is the increased of consumers engaging in the market who have never previously experimented with Cannabis prior to legalization. Active companies in the Cannabis markets this week include Cannabis Strategic Ventures, Inc. (OTC:NUGS), OrganiGram Holdings Inc. (TSX-V:OGI.V) (OTCQX:OGRMF), KushCO Holdings Inc. (OTCQB:KSHB), General Cannabis Corp. (OTCQX:CANN), Medical Marijuana Inc. (OTCPK:MJNA).
Cannabis Strategic Ventures, Inc. (OTCPK:NUGS) BREAKING NEWS : Cannabis Strategic Ventures is pleased to announce the completion of a full audit for its fiscal year ending March 31, 2018. This completes the three-year audit required as part of becoming a fully reporting company with the U.S. Securities & Exchange Commission ("SEC"). Cannabis Strategic Ventures will utilize the audit results to file future reports and disclosures with the SEC and move the Company to fully reporting status. The Company will also use the fully reporting status to uplist to a higher OTC Markets tier.
"Audits tend to be the most time-consuming part of the financial reporting process. With the final audit completed, we can pivot to filing disclosures and reports with the SEC," commented Simon Yu, CEO of Cannabis Strategic Ventures.
"Despite delays in the process, we remain committed to shareholder transparency and to providing shareholders with timely information about our position in the fast- growing legal cannabis marketplace and all aspects of our financials. We are pleased to report today we are making significant progress on meeting our commitments to our shareholders and fully expect NUGS to soon be among the ranks for fully reporting companies."
Cannabis Strategic Ventures initially began as an employment service company for the cannabis industry and recently expanded its strategy to lead brands in several cannabis industry verticals. The Firm recently expanded its brand portfolio through partnerships with: Asher House LLC for the Asher House Pet CBD product line; Fitamins, a CBD brand with a network of more than 600 wholesalers; True Promise Beauty for a joint venture on a CBD skincare line; production of the patent pending filter for cannabis products, Halo Filter; and entry into cannabis extraction with its Pure Organix brand. Read this and more news for Cannabis Strategic Ventures at: http://www.financialnewsmedia.com/news-nugs
Other recent developments and major influences in the cannabis industry include:
OrganiGram Holdings Inc. (TSX-V:OGI.V) (OTCQX:OGRMF) recently unveiled Trailblazer, the newest addition to their portfolio of products ready for the launch of the adult use recreational cannabis market in Canada. Trailblazer was developed in rapid response to ongoing discussions with Organigram's jurisdictional and retail partners across Canada and their focus on offering high value offerings. "Our brand strategy is creative and thoughtful, based on a concerted effort to wholly understand our current and future customers," explains Ray Gracewood , Chief Commercial Officer, Organigram. "We always want to be nimble enough to respond to what our partners need. Across the country, the message has been clear that a high value, quality product is an important consideration for customers and an effective tool to help combat the black market for cannabis. Trailblazer delivers on both those fronts."
KushCO Holdings Inc. (OTCQB:KSHB) recently announced that it has entered into a strategic transaction with Smoke Cartel (SMKC) to sell Roll-uh-Bowl, an online distribution platform for retail sales of collapsible and unbreakable medical-grade silicone water pipes. As stipulated in the agreement, KushCo will transfer ownership of all Roll-uh-Bowl assets, including inventory, branding materials, the website and social media, in exchange for shares of Smoke Cartel valued at $1,500,000 plus the value of inventory. KushCo will also build a referral landing page into the Kush Bottles website to direct customers to Smoke Cartel when searching for wholesale glass & smoking accessories. "This transaction exemplifies our dedication to continuing the development of our core competencies, ensuring focus is maintained on providing leading packaging, supplies, wholesale vaporizer hardware, gas and solvents for the medical and adult-use cannabis industry," said CEO Nick Kovacevich. "This is a win for both companies. By selling off the Roll Uh Bowl assets, KushCo will be able to continue to remain highly focused on our core business units driving our growth globally in areas across packaging, vape hardware, gas and branding services to multi-state cannabis operators. Conversely, Smoke Cartel's team are experts and professionals when it comes to the retail side of products and Roll-uh-Bowl, will fit into their offerings as a strong complement." Mr. Kovacevich continued, "Smoke Cartel will continue to build upon the successful Roll-uh-Bowl brand and will remain our preferred partner for customers looking for products such as glass pipes, bongs and grinders."
General Cannabis Corp. (OTCQX:CANN) recently announced it is opening a New York office as the cannabis business services provider looks to expand its presence on the East Coast. "Given our growing list of East Coast clients and the steps that states like Massachusetts and New Jersey have taken toward launching adult-use sales, this is the ideal time for General Cannabis to further invest and establish itself in the region," said Executive Chairman Michael Feinsod.
Medical Marijuana Inc. (OTCPK:MJNA) recently announced that its subsidiary HempMeds® will be exhibiting its line of cannabidiol (CBD) hemp oil products at the Cannabis World Congress and Business Expo, taking place in Los Angeles from September 27-29. "As CBD continues to gain significant attention in the health and wellness community, we are proud to be at an event that is dedicated to spreading awareness of its benefits," said HempMeds® President Todd Morrow. "We are excited to help consumers understand CBD products and their numerous health and wellness benefits." The Cannabis World Congress and Business Expo is held three times a year in the largest media, financial and business markets: Los Angeles, New York and Boston. CBD will be a major topic at this year's conference in Los Angeles, as a new estimate from cannabis industry analysts The Brightfield Group estimates that the hemp-derived CBD market alone could hit $22 billion by 2022.
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