PALM BEACH, Florida, October 10, 2018 /PRNewswire/ --
Financialnewsmedia.com News Commentary
Despite already experiencing unprecedented growth, the legal cannabis market in the United States remains largely untapped with a mountain of potential. The industry produced $9 billion in revenue in 2017 according to BDS analytics, but this number could more than double in the next two years. The industry has the potential to make an immensely positive impact on the economy as a whole as it will create thousands of jobs and generate strong tax revenues. Another key trend to keep an eye on is how the United States monitors the situation north of the border, with full legalization of cannabis approaching in Canada. Active companies in the Cannabis markets this week include Cannabis Strategic Ventures, Inc. (OTC:NUGS), Terra Tech Corp. (OTC:TRTC), Innovative Industrial Properties Inc. (NYSE:IIPR), KushCo Holdings Inc. (OTC:KSHB), CV Sciencs Inc. (OTC:CVSI).
Cannabis Strategic Ventures, Inc. (OTCPK:NUGS) BREAKING NEWS : Cannabis Strategic Ventures today announces the appointment of Mr. Alan Tran to its board of directors. The addition of Mr. Tran as a director is the first of a series of steps to be taken by the Company in preparation for an uplisting on its common shares to a national exchange.
Mr. Simon Yu, CEO of Cannabis Strategic commented, "We are in process of implementing several important steps in preparation for an application to move the trading our of common shares to a national exchange. We are planning for aggressive growth over the coming years and believe a listing on a national exchange will give us superior access to capital and increased liquidity and transparency for common shareholders. The recent completion of our audit was an important step in our uplisting preparation. We welcome Mr. Tran to the NUGS family and are excited to have him on board. His expertise in finance and strategy will pay a crucial role in our organization. Today, we are taking an additional important step via the appointment of Mr. Tran to our board."
Mr. Tran brings strong financial and strategic skills to the board of directors of Cannabis Strategic Ventures. He has led several successful management, consulting and financial teams, not only within the cannabis, healthcare and technology market sectors, but also within leading Fortune 500 companies. As a Los Angeles native, Alan received a BS in Business Administration from the University of Southern California and is a current MBA Candidate at UCLA Anderson School of Management.
"It is an exciting time within the cannabis market sector with incredible growth being seen by numerous market participants," commented Mr. Tran. "I feel the opportunities at Cannabis Strategic are vast and it will be my pleasure to serve as a director of this Company." 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:
Terra Tech Corp. (OTCQX:TRTC) came to a close up 8.77% on Tuesday with over 950,000 shares traded on the day. The company recently announced that the City of Santa Ana has granted its East Dyer Road, East Carnegie Avenue and South Tech Center Drive locations vertically-integrated Phase I permits. These permits allow the Company to commence development of cultivation, manufacturing and distribution capabilities at these locations. Moreover, upon completion of the build-out of each location's facilities, they also confer upon the Company the right to apply for Phase II permits which are needed to commence commercial activities. The Company is expanding its presence in Southern California as the state's cannabis market continues its transformation from a black market economy into a multibillion-dollar, regulated market. By opening several locations across Santa Ana, each of which will benefit from vertical integration and will house the Company's recognizable 'Blüm' dispensary brand, the Company is positioning itself as a major supplier of medical and adult-use cannabis to all the surrounding cities, such as Irvine, Laguna Beach and Newport Beach, all of which currently suffer from a scarcity of existing cannabis dispensaries. When completed, the Company's expanded cultivation and extraction capabilities will allow it to ramp production of its proprietary IVXX™ cannabis products, which are grown and harvested under the safest and most beneficial conditions. All IVXX products are thoughtfully produced, rigorously tested and certified to the highest standards of potency and purity for sale at the Company's proprietary Blüm dispensaries as well as at third party dispensaries.
Innovative Industrial Properties Inc. (NYSE:IIPR) came to a close up 5.30% on Tuesday with a volume north of 740,000. On Tuesday, the company also announced the full exercise of the underwriters' option to purchase an additional 390,000 shares of common stock in connection with the Company's previously announced follow-on offering that priced on October 3, 2018. In total, the Company sold 2,990,000 shares of common stock in the offering, raising gross offering proceeds of $119.6 million. Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc., Compass Point Research & Trading, LLC and BTIG, LLC are acting as joint book-running managers for the offering. The offering of the Company's common stock is being made only by means of a prospectus supplement and the accompanying prospectus. Copies of the preliminary prospectus supplement, final prospectus supplement and the accompanying prospectus may be obtained by contacting Ladenburg Thalmann & Co. Inc., 277 Park Avenue, 26th Floor, New York, NY 10172, or by email at email@example.com; Compass Point Research & Trading, LLC at 1055 Thomas Jefferson Street, N.W, Suite 303,Washington, DC 20007, or by email at firstname.lastname@example.org; or BTIG, LLC at 825 3rd Avenue, 32nd Floor, New York, NY 10022, or by email at email@example.com.
KushCo Holdings Inc. (OTCQB:KSHB) closed up 4.38% on Tuesday with over 660,000 shares traded. Last week, the company announced it has signed an exclusive sales and innovation agreement with ExtractionTek Sales, LLC, dba. ExtractionTek Solutions ("ETS"), a leading provider of closed loop hydrocarbon extraction equipment, based in Colorado. The reciprocal agreement is designed to drive additional client expansion for both companies through their complementary operations. KushCo's Kush Energy division supplies the cannabis industry with tested, ultra-high purity solvents and hydrocarbons, which are essential in the extraction process for the production of products including oils, edibles and waxes. An outcome of partnering together and cross-training, will be the development for new innovative solutions and offerings to the market, further facilitating how customers are able to scale and grow as a result of working with Kush Energy.
CV Sciencs Inc. (OTCQB:CVSI) closed up 3.16% on Tuesday afternoon with a volume of more than 900,000. The company recently announced its feature on the Oct. 3rd episode of 'The Dr. Oz Show.' The segment showcased Dr. Oz and Dr. Sanjay Gupta, Chief Medical Correspondent for CNN, where both doctors agreed that CBD, "has legitimate medical benefits," and also stated that the varying milligram levels of CBD in products created different end-user experiences. "Our product appearance on The Dr. Oz Show further solidifies our position that independent analysis of PlusCBD Oil™ places us as an industry leader," stated Joseph Dowling, Chief Executive Officer of CV Sciences. "The exposure from appearing on The Dr. Oz Show allows us to introduce our product to a whole new segment of customers. Our leadership role in setting the standard for transparency across all media outlets will continue to be a focus of our Company."
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