FinancialBuzz.com News Commentary
NEW YORK, Feb. 5, 2019 /PRNewswire/ -- Right now, cannabis is one of the latest growing interests revolving around Wall Street. Major investment firms are backing the industry, projecting that it will become the next prosperous market. And according to Business Insider, citing research by RBC Capital Markets analyst Nik Modi, the legal U.S. cannabis industry is projected to grow at a CAGR of 17% to as much as USD 47 Billion within the next decade. The analyst says that the growth in legal sales is mainly due to the burgeoning recreational cannabis use, specifically in products such as edibles and concentrates. For instance, in Colorado, the state has seen its flower sales drop by 70% to 46% as concentrates filled the gap. The investment bank also says investments from other large sectors such as the alcohol industry are also contributing to the growth of the cannabis market. Weekend Unlimited Inc. (OTC: WKULF), Emblem Corp. (OTC: EMMBF), AXIM Biotechnologies, Inc. (OTC: AXIM), Auxly Cannabis Group Inc. (OTC: CBWTF), Terra Tech Corp. (OTC: TRTC)
The cannabis industry is seeing an inflow of investments from other industries due to declining sales in their respective marketplaces. The investments are broadening the overall cannabis market, which Modi suggests that the illegal and legal cannabis sales are already approximately USD 50 Billion, which rivals sales of spirits and wines. Some are looking to integrate cannabis into their businesses by creating infused products, while others are just solely looking to have an asset related to cannabis. "We think this is exactly the type of move that more companies should be making (not in cannabis necessarily, but having the foresight to invest in future revenue streams, especially at a time when the core business is performing)," Modi said.
Weekend Unlimited Inc. (OTC: WKULF) also listed on the Canadian Securities Exchange under the ticker (CSE: POT). Yesterday the company announced breaking news that "it will begin to trade today on the CSE under the symbol POT. In addition, the Company is trading on the OTC Pink Open Market with ticker symbol WKULF.
The Company, which has just announced that it won the Canadian exchanges' lottery for the trading symbol POT, believes that the addition of the OTC Pink Open Market will provide enhanced investor benefits including easier access and greater liquidity in the United States.
"We anticipate that in addition to our new CSE symbol POT, trading on the OTC Pink Market will raise our visibility within the investment community and will help to broaden our shareholder base," said Mr. Brian Keane, Weekend Unlimited, Director."
About Weekend Unlimited Inc. - Weekend Unlimited is capitalizing on its vast industry relationships to establish a lifestyle brand featuring premium products and delivering life's highest moments. The company aggregates and scales small to medium brands, primarily in the categories of flower, extracts and edibles. Weekend Unlimited brands have best of class operations, distribution and strong revenue trajectories, making them ideal candidates for the deployment of capital and expertise through access to technologies, infrastructure and centralized systems. Learn more at http://www.weekendunlimited.com
For our "Buzz on the Street" Show featuring Weekend Unlimited Inc. latest corporate news, please head over to: https://www.youtube.com/watch?v=9yaSKyyZsbM
Emblem Corp. (OTCQX: EMMBF) is a fully integrated cannabis company focused on driving shareholder value through product innovation, brand relevance, and access to patient and consumer channels. Emblem Corp., through its wholly-owned subsidiary Emblem Cannabis Corporation, recently announced that Emblem-branded cannabis oils are now available online through Shoppers Drug Mart to patients with a valid medical authorization. "As a patient-first provider, Emblem is committed to helping provide patients access to our products through distribution channels that provide both care and convenience like Shoppers Drug Mart," said Nick Dean, Chief Executive Officer, Emblem Corp. "Accessing a variety of distribution channels also continues to be a critical factor in our business strategy as we remain focused on being a leader in the medical cannabis space."
AXIM Biotechnologies, Inc. (OTCQB: AXIM) is a world leader in research and development of cannabinoid-based pharmaceutical products. AXIM Biotechnologies, Inc. recently announced that the United States Patent and Trademark Office (USPTO) has issued a patent (US 10,172,786) on oral care compositions comprising cannabinoids, including cannabidiol ("CBD") and/or cannabigerol ("CBG"). The USPTO granted this patent from AXIM's patent application filed on Dec. 15, 2015. Products that AXIM could produce under this patent will be made using cannabinoids. The patented formula maximizes the presence of CBD in the oral cavity during brushing. Additionally, all formulations through this patent will include CBD, which contains fast-acting anti-bacterial properties. AXIM hopes to utilize this patent in development of products for the treatment of oral infectious disease, including peri implantitis, periodontitis, oral mucositis, and dental pain. "We are proud to extend AXIM's already robust portfolio of intellectual property with this new patent on oral care compositions comprising cannabinoids," said John M. Huemoeller, Chief Executive Officer of AXIM® Biotechnologies. "The company is focused on expanding its intellectual property portfolio as a part of its long-term strategy. This patent aligns with AXIM's strategic advantages in terms of adding additional proprietary delivery mechanisms for cannabinoid-based products and the company could benefit from its use in both our nutraceutical and pharmaceutical product development programs."
Auxly Cannabis Group Inc. (OTCQX: CBWTF) is a vertically integrated cannabis company with diverse operations across Canada and Uruguay. Auxly Cannabis Group Inc. recently announced that the Company has signed a definitive agreement with 2368523 Ontario Limited (d/b/a) Curative Cannabis. The Company will acquire 46% of the common shares of Curative and enter into a long-term cannabis purchase and sale agreement to fund the construction and development costs of Curative's cannabis cultivation facility in Chatham-Kent, Ontario. The Facility is designed as a purpose-built indoor facility for the production of ultra-premium cannabis product. With an initial footprint spanning approximately 30,000 square feet, the first phase of the Facility is expected to yield approximately 2,900 kg of cannabis per annum. Curative anticipates bringing a unique ultra-premium cannabis product to Canadian recreational cannabis consumers through its proprietary genetics database of over 90 stable, and highly sought-after, cannabis strains. Hugo Alves, President and Director of Auxly Cannabis Group commented: "Curative is a highly valued partner to Auxly, having been a part of the Auxly family since the inception of the Company. That being said, we could not be more pleased to have reached this stage of the project and to be signing a definitive agreement with Curative. Curative's optimization of indoor cultivation combined with their unique genetics will provide a highly desirable product offering to the Canadian recreational cannabis markets and to the Auxly platform as a whole. We are pleased to be working with Dave, Scott and their team as they build out additional phases of this project and bring their product to market."
Terra Tech Corp. (OTCQX: TRTC) operates through multiple subsidiary businesses including: Blüm, IVXX Inc., Edible Garden, and MediFarm LLC. Terra Tech Corp. recently announced that on November 2, 2018 it signed a non-binding letter of intent (the "LOI") to merge with Golden Leaf Holdings Ltd. (OTCQB: GLDFF), a cannabis company with cultivation, production and retail operations built around recognized brands. Under the terms of the letter of intent, a wholly owned subsidiary of Terra Tech will amalgamate with Golden Leaf, with the resulting amalgamated corporation being a wholly owned subsidiary of Terra Tech. Derek Peterson, Chief Executive Officer of Terra Tech, commented, "As new participants enter the cannabis industry the market is undergoing rapid consolidation. The companies that are vertically integrated with strong brands and multi-jurisdictional operations are best situated to achieve scale and retain market-leading positions. We are planning to merge with Golden Leaf's operations because its seed-to-sale business model is complementary to ours, encompassing both the Oregon and Canadian market which represent new markets for us, and touching Nevada where we are focused on gaining market share. Its 'Chalice Farms' retail dispensaries are well known and have an excellent reputation in Oregon, and the wholesale side of the business offers diverse, high quality cannabis products for all demographics, which are complementary to our existing wholesale product lines. This transaction, if completed, will create a combined company that will control 41 permits across cultivation, manufacturing, distribution and retail spanning Oregon, California and Nevada, in addition to 21 pending permit applications in multiple jurisdictions throughout the U.S."
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