PALM BEACH, Florida, March 6, 2019 /PRNewswire/ -- Anyone who has been trying to keep abreast of where the cannabis markets are and where they may be going, revenue-wise, will have undoubtedly come across revenue projections in the headlines of almost every article. There is a reason for that. In fact, its because it seems that most, if not all projections, foreshadow all the ones that have come before. It seems as if every new report exceeds the projections from the previous report. Whether the numbers are right or wrong, they certainly paint a confident picture of future growth and more growth. One of the first such reports was discussed in The Rolling Stone, which said: "For years, experts have predicted that if the cannabis industry expands at its current rate, the American market will reach $20 billion by 2020. But it turns out that one market is spinning off into a mega-industry of its own: according to a new estimate from cannabis industry analysts, the hemp-CBD market alone could hit $22 billion by 2022. Active Companies from around the market with current developments this week include: Player's Network, Inc. (OTC: PNTV), Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB), The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTC: TGODF), Puration, Inc. (OTC: PURA), Namaste Technologies Inc. (TSX-V: N) (OTC: NXTTF).
A Forbes article, quoting another report, added: "…over the next 10 years, the legal cannabis industry will see much progress around the globe. Spending on legal cannabis worldwide is expected to hit $57 billion by 2027. The adult-use (recreational) market will cover 67% of the spending; medical marijuana will take up the remaining 33%. The largest group of cannabis buyers will be in North America, going from $9.2 billion in 2017 to $47.3 billion a decade later. The largest growth spread, however, is predicted within the rest-of-world markets, from $52 million spent in 2017 to a projected $2.5 billion in 2027."
Player's Network, Inc. (OTCQB: PNTV) BREAKING NEWS: Player's Network, is in the process of changing its name to Green Leaf Farms International, Inc. PNTV/GLFI, a rapidly growing company in the worldwide cannabis market and CBD industries, with operations in Nevada and now Argentina, announced today that together with its Argentina joint venture partner, Cannava, it has received approval from the Argentine government to import cannabis seeds from the United States into Jujuy Province, Argentina.
This is the first time the Argentine government has approved such a venture. PNTV previously announced approval of seeds from a security standpoint, this approval, by the highest government agencies, was given exclusively to the joint venture with the goal of establishing Jujuy Province as the world's leading supplier of cannabis oils, distillates, isolates, and biomass to a rapidly growing and underserved worldwide market.
As those knowledgeable of the industry know, there is an explosion of pharmaceutical, cosmetic, and health-related cannabis-infused products entering the global marketplace. At the present time most of these products are being introduced by small, start-up companies, although press reports indicate that the market demand is becoming so large and expanding so rapidly that a number of Fortune 500 companies in a wide range of industries including soft drink, adult beverage, cosmetic, pharmaceutical, and other health related industries are developing their own CBD-infused products.
This greatly increased demand for cannabis raw materials - CBD (and in some countries THC) Oils, Distillates and Isolates – will soon make these a commodity like other agricultural products. The company that dominates this market niche will be the one that establishes itself as the lowest cost, highest quality, reliable supplier. That supplier will be Green Leaf Farms International!
As previously announced, working in partnership with Jujuy Province, GLFI and its joint venture partner have negotiated a 99-year lease on 14,000 hectares or 34,600 acres (54 square miles) of prime agricultural land. The temperate climate near the equator allows virtually year-round growing conditions. In addition, working with the Argentine government, a tax-free trade zone has been established for the processing and worldwide distribution of the cannabis oils, distillates, isolates, and biomass grown on this land. Due to the quality of the land, ideal year-round growing conditions, low-cost agriculturally skilled labor force and, most importantly, absence of burdensome regulations and taxes, the company believes this joint venture with Argentina positions it to produce the highest quality, lowest cost raw materials that will enable GLFI to be the dominant player in this exploding worldwide market. Read this entire press release and more news for PNTV at: https://www.financialnewsmedia.com/news-pntv/
In the industry developments and happenings in the market this week include:
Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB.TO) this week announced that it has completed the acquisition of all the issued and outstanding shares of privately held Whistler Medical Marijuana Corporation ("Whistler"), in an all-share transaction (the "Transaction"), pursuant to the terms of an amalgamation agreement dated January 31, 2019 among Whistler , Aurora, and a wholly owned subsidiary of Aurora (the "Agreement").
Located in Whistler, British Columbia , Whistler has developed one of Canada's most iconic cannabis brands, built on quality, award-winning, organic certified BC bud. The Transaction provides Aurora with a premium and differentiated organic certified product suite, expanding both its medical and consumer offerings, and reinforcing Aurora's presence in the well-established west coast cannabis market.
The Green Organic Dutchman Holdings Ltd. (TSX: TGOD.TO) (OTCQX: TGODF) announced that it has received organic certification from Pro-cert Organic Systems Ltd. ("Pro-cert"). This is the second certification body to endorse TGOD's organic process at its Hamilton facility.
The Company is committed to the highest standards of organic cultivation of cannabis. TGOD cannabis is grown in soil, without synthetic fertilizers, herbicides or pesticides, and is never irradiated. Canadian consumers have stated that they prefer organic cannabis. In a recent study conducted by Hill & Knowlton, over 50% of recreational consumers stated it was important that their cannabis was organic. When the same question was posed of medical patients, that number increased to 63%.
"Certified-organic provides consumers with the best cannabis experience, and the entire TGOD organization is committed to that standard," said Brian Athaide, Director and CEO of TGOD. "The certification from Pro-Cert, along with the earlier certification from ECOCERT means that both leading organic certification bodies have approved our process. This is testimony to the work of David Bernard-Perron, Vice President, Growing Operations, and the entire cultivation and Operations team in Hamilton."
Puration, Inc. (OTCPK: PURA) On March 5 announced that it has scheduled an online presentation, this Thursday, March 7th, 2019 to review new orders, opportunities and partnerships stemming from the EVERx CBD Sports Water event this past weekend at the Arnold Sports Festival. EVERx CBD Sports Water debuted its all new formula and packaging at the world-renowned Arnold Sports Festival this week in Columbus, Ohio where EVERx launched for the first time ever in 2017. The presentation will include updates on PURA's work with Kali-Extracts (KALY) to formulate a 25 mg CBD infused beverage. The presentation will also include highlights on new cannabis infused products the two companies are working to develop.
Namaste Technologies Inc. (TSX-V: N.V) (OTCQB: NXTTF) in February announced that it had reached a mutually agreed upon settlement with Sean Dollinger resulting in Mr. Dollinger entering into an advisory relationship with Namaste providing transition support to the Company to ensure the best interests of the business and stakeholders are met (the "Agreement"). Pursuant to the Agreement, Mr. Dollinger has withdrawn his previously announced legal application against the Company and has agreed to step down from all formal roles with the Company, including as a director, which will also enable him to spend more time with his young family and pursue other opportunities. Meni Morim remains Interim Chief Executive Officer ("CEO") of Namaste.
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