NEW YORK, Aug. 8, 2019 /PRNewswire/ -- Consumers are starting to demand more from their cannabis companies as the market continues its expansion across the world. During the early stages of legalization in regions such as Colorado and California, dried cannabis flower dominated overall cannabis sales. However, after each year, dried cannabis sales continued to dwindle as secondary products such as extracts filled the gap. Overall, consumers have been shifting noticeably from dried cannabis flower to extracts and concentrates because of their potency and short delivery time. Typically, most cannabis users say that extracts and concentrates usually last longer and provide more THC or CBD content per dollar spent compared to traditional flower. Moreover, extracts and concentrates are highly potent, containings upwards of 90% THC levels. Meanwhile, flower generally contains THC levels lower than approximately 35%. However, both extracts and flowers are not always solely THC dominant. Certain products can be CBD dominant and as such, will not cause any psychoactive effects on users. In general, in order to create CBD or THC-rich products, the producer needs to carefully select a high-quality strain. For instance, if a producer was looking to create a highly potent THC oil, he or she would need to use a THC dominant strain and then extract its cannabinoids to produce the oil. On the other hand, if a producer wants to make a mild CBD oil, then he or she would most likely avoid using THC rich strains, but instead create a pure CBD product or a mixture of CBD and THC to their desired ratio. Typically, before the rise of legal channels, consumers mostly purchased their cannabis supply from unknown sources via the black market. The major concern was that consumers would have no idea how potent the product was and where it originated from. Nowadays, consumers have endless choices when it comes to legal vendors and can choose from pure THC or CBD products, or even a combination of both. According to data compiled by Ameri Research, the global legal marijuana market was valued at USD 14.3 Billion in 2016. By 2024, legal marijuana global sales are projected to reach USD 63.5 Billion while exhibiting a CAGR of 21.1% from 2017 to 2024. Pasha Brands Ltd. (OTC: CRFTF) (CSE: CRFT), Canopy Growth Corporation (NYSE: CGC) (TSX: WEED), Tilray, Inc. (NASDAQ: TLRY), Cresco Labs Inc. (OTC: CRLBF) (CSE: CL), Origin House (OTC: ORHOF) (CSE: OH)
While extracts are rapidly becoming popular among consumers, there is still a large demand for dried flower. Moreover, cultivators are still aggressively competing against one another to obtain licenses for cultivation approval and there is still a large demand for dried flower within the medical segment of the cannabis industry. And even though some research has shown medical patients are also turning to alternative delivery methods, dried cannabis still required to create most extracts and concentrates. For example, a simple form of a concentrate is kief, which is composed of trichomes that broke away from the flower. Depending on the flower's cannabinoid content, the kief will have its own specific potency and properties. Furthermore, a more complex method of extraction involves using CO2 to separate cannabis components from the plant. Using high pressure and heat, producers can separate certain components of the plants from one another, allowing them to obtain desirable cannabinoids. And similar to the kief, extracts using a CO2 method would also require a high quality strain in order to obtain a high potency. The demand for high quality and premium cannabis is still large, which is why "craft cultivators" have become widely popular within the marketplace. Craft cultivators are generally small-scale growers who strive to produce top shelf quality cannabis through a tedious and meticulous process. Throughout the growing phases, craft cultivators carefully inspect and examine each plant to ensure it is growing correctly and that it is maintaining its cannabinoid content. While the procedure can be automated, craft cultivators believe that tending to each individual plant and catering to its needs can produce an overall higher yield and stronger potency among the plants. "The art of cannabis has come a long way from the days of the dime bag, when you had no idea where your cannabis came from, what kind of pesticides or growing methods produced it, or even what strain it was. These days, in the legal cannabis marketplace, you have your choice of the best of the best of "craft cannabis," said Lisa Rough, former Associate Editor at Leafly.
Pasha Brands Ltd. (OTC: CRFTF) (CSE: CRFT) is also listed on the Canadian Securities Exchange under the ticker (CSE: CRFT). Yesterday, the Company announced breaking news that, "the Company has secured eligibility by the Depository Trust Company (DTC) for its shares on the OTC Markets.
The DTC is a subsidiary of the Depository Trust & Clearing Corporation (DTCC), which manages the electronic clearing and settlement of publicly traded companies in the United States. Securities that are eligible to be electronically cleared and settled through the DTC are considered DTC-eligible. Pasha's common shares are now fully DTC-eligible, and trade under the symbol "CRFTF" on the OTC Markets. This electronic method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for investors.
'We are very pleased to have obtained DTC eligibility,' said Patrick Brauckmann, Executive Chairman of Pasha Brands. 'This status will make the process of trading our stock in the United States much easier. We expect that this will make our shares available to a larger percentage of the investment market, which should improve the liquidity of our shares and therefore benefit Pasha and our shareholders.'
Established in 1973 under the incorporation laws of New York for trust companies, the DTC has grown to one of the largest securities depositories in the world holding securities valued at upwards of $54 trillion (2017).
About Pasha Brands: Based in Vancouver, British Columbia, Pasha is a vertically integrated, prohibition-era brand house firmly rooted in BC's craft cannabis industry, which boasts an international reputation. With proven capabilities in cannabis cultivation, genetic research and development, product processing, and retail, Pasha is uniquely positioned in the new legal cannabis market through its network of hundreds of craft cannabis suppliers under the Pasha umbrella. Pasha subsidiary, Medcann Health Products Ltd., is a Health Canada licensed cultivator and processor with a license to sell medical cannabis products in Canada. Pasha and BC Craft are also developing a craft cannabis campus, which is dedicated to bringing craft quality into the newly legal cannabis market in Canada. BC Craft is driven to assist craft growers in obtaining security clearance and licensing to grow as micro-cultivators, specializing in education and compliance to bring growers into the regulated cannabis supply market.
Pasha's common shares trade on the CSE under the symbol "CRFT" and on the FSE under the symbol "ZZD". For more information, please visit www.pashabrands.com.
For our latest "Buzz on the Street" Show featuring Pasha Brands Ltd. recent corporate news, please head over to: https://www.youtube.com/watch?v=A-Re7xyxt-s
Canopy Growth Corporation (NYSE: CGC) (TSX: WEED) is a world-leading diversified cannabis, hemp and cannabis device company, offering distinct brands and curated cannabis varieties in dried, oil and Softgel capsule forms, as well as medical devices through Canopy Growth's subsidiary, Storz & Bickel GMbH & Co. KG. Canopy Growth Corporation recently announced that it has received a new licence from Health Canada permitting it to grow cannabis at an outdoor site in northern Saskatchewan. Hours after receiving the licence, the first cannabis cuttings were planted at a 7 million sq. ft. (160 acres) secure cultivation field in the province. The new licence expands Canopy Growth's diversified Canadian footprint and complements its existing indoor and greenhouse facilities to provide a leading balance of facilities to produce low cost input materials for value-add products, while ensuring more sophisticated growing operations for in-demand flower products. "Our team has outdoor, at-scale cannabis expertise gained from over a decade of hemp farming experience, including Canopy's 4,000-acre hemp operation executed last year, the extract of which is bolstering our CBD supply for the medical and recreational markets," said Mark Zekulin, President and Co-Chief Executive Officer, Canopy Growth. "At this stage in the summer planting season we view this as a pilot and ramp up project for outdoor cannabis cultivation, though the team will do everything it can to deliver low cost yields this year."
Tilray, Inc. (NASDAQ: TLRY) is a global pioneer in the research, cultivation, production and distribution of cannabis and cannabinoids currently serving tens of thousands of patients and consumers in 13 countries spanning five continents. Tilray, Inc. recently announced that its wholly-owned subsidiary Tilray Portugal Unipessoal Lda. has signed a Definitive Agreement with Esporão, adding 20 hectares of outdoor cultivation space in Alentejo, Portugal, in addition to its existing 5 hectares of indoor and outdoor cultivation and 6,500 sq. m. of manufacturing, processing and research space at its European Union (EU) Campus in Cantanhede, Portugal. "We're proud to be expanding our capacity to produce high-quality medical cannabis products in Europe using innovative outdoor growing methods." says Sascha Mielcarek, Tilray's Managing Director, Europe. "We look forward to supplying patients in need in existing and new markets with Tilray's medical cannabis products, proudly produced in Europe."
Cresco Labs Inc. (OTCQX: CRLBF) (CSE: CL), based in Chicago, is a leading U.S. cannabis company with experienced management, access to capital and a demonstrated growth strategy. Cresco Labs Inc. recently unveiled Sunnyside, a new dispensary brand created to accelerate industry growth and shift people's expectations and perceptions around shopping for cannabis from intimidation and doubt to curiosity and acceptance through a new retail and marketing approach. Sunnyside is more than a dispensary—it's a wellness-based retailer offering a holistic experience for anyone who considers, or would consider, cannabis to be an integral part of their personal wellness program. It aims to educate today's diverse users on cannabis' many positive benefits and provides one of the widest ranges of cannabis brands. A more sophisticated and familiar shopping destination that combines high-end design from healthcare, retail and hospitality, Sunnyside elevates the value dispensaries can add to a community with a bright, welcoming aesthetic and convenient shopping whether in-store or online. "To unlock the full potential of the U.S. cannabis industry, we must evolve the retail experience to delight both current and prospective users," said Cresco Labs' Chief Executive Officer and Co-Founder Charlie Bachtell. "Many of today's dispensaries service the needs of traditional cannabis consumers. As the cultural landscape progresses, we're building a modern, yet familiar store environment built on wellness, education and customer service to rapidly bring in new users and welcome them to cannabis."
Origin House (OTCQX: ORHOF) (CSE: OH) is a growing cannabis brands and distribution company operating across key markets in the U.S. and Canada, with a strategic focus on becoming a preeminent global house of cannabis brands. CannaRoyalty Corp. d/b/a Origin House recently announced that it has closed the previously announced acquisition of Cub City LLC, a licensed premium craft cannabis producer based in Sonoma County, California for total consideration of US 5.3 Million. Cub City's 24,600 sq. ft. Santa Rosa facility has an annual production capacity of up to 1,400 kg of ultra-premium flower, along with pre-roll production capabilities. As previously disclosed, Cub City holds a provisional state indoor cultivation license and a local minor-use permit for cultivation, non-volatile manufacturing, processing and distribution. "Access to bespoke cannabis production capacity and related expertise is valuable not just to new cannabis brands but also to heritage, established brands. The addition of Cub City to our cultivation roster strengthens our infrastructure and team in California, making us the partner of choice for brands across the spectrum," commented Marc Lustig, Chairman and Chief Executive Officer of Origin House.
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