NEW YORK, Oct. 8, 2019 /PRNewswire/ -- Prescription drugs range from depressants and opioids to stimulants and are generally known to be highly addictive and capable of causing severe harm to the heart, brain, and liver with repeated use. Consequently, if patients abuse prescription drugs, it can ultimately prove to be life-threatening. Now, the concern over the growing epidemic of prescription drug abuse has led medical institutions and professionals to reconsider what patients are prescribed. Notably, in regions where cannabis is legalized for medical purposes, more and more patients are beginning to use cannabis as an alternative to pharmaceutical medications. Specifically, Canada has witnessed its medical patient user base grow significantly over the past several years. There were 296,702 patients registered under Health Canada's Access to Cannabis for Medical Purposes Regulations (ACMPR) program as of March 2018. Compared to the same period a year prior, the number of registered patients grew by 76.9%. The robust growth reflects how rapidly the user base is growing as more people turn to cannabis as a medical alternative. Moreover, the global user base is projected to continually grow as well as more countries begin to implement medical cannabis programs. And according to data compiled by MarketsandMarkets, the global cannabis market is projected to grow from USD 10.3 Billion in 2018 to USD 39.4 Billion by 2023. Furthermore, the market is anticipated to grow at a CAGR of 30.7% during the forecast period. Newleaf Brands Inc. (OTC: NLBIF) (CSE: NLB), The Supreme Cannabis Company, Inc. (OTC: SPRWF) (TSX: FIRE), Auxly Cannabis Group Inc. (OTC: CBWTF) (TSX-V: XLY), Planet 13 Holdings Inc. (OTC: PLNHF) (CSE: PLTH), Harvest Health & Recreation Inc. (OTC: HRVSF) (CSE: HARV),
Despite the growing global presence of the cannabis industry, the U.S. is a major factor in its growth. The U.S. alone accounts for a majority of the global market share and is expected to continue its dominance even though cannabis is still federally illegal within the U.S. Nevertheless, the U.S. Federal government has previously granted states the authority to legalize cannabis, or keep its illegal status based on their own accord. As a result, 46 states allow some form of cannabis use, though the majority allow only medical and CBD use, which itself is often used medically. Additionally, advocates are citing recent research into and the development of CBD-based products, rallying to reclassify CBD from the broader cannabis classification. As a result of the strong demand for CBD legalization many government agencies, such as the U.S. Food and Drug Administration and U.S. Drug Enforcement Administration, have been forced to reconsider CBD and its status. "Some of those ingredients get re-looked at through a different lens. It becomes a little less taboo," said Perteet Spencer, a Principal in the Brand Growth Solutions division at SPINS. "You're seeing massive legislative shifts that are going make a lot of things that were once completely off-limits a little more acceptable."
Newleaf Brands Inc. (OTC: NLBIF) (CSE: NLB) is also listed on the Canadian Securities Exchange under the ticker (CSE: NLB). Yesterday, the Company announced that, "it has successfully manufactured and fulfilled its first large shipment of its white labeled 500mg disposable vaporizer pens for its client, Denver Marketing Co, LLC ("Denver Marketing").
As previously announced on September 9, 2019, Kured and Denver Marketing entered into white label agreement, whereby Denver Marketing has agreed to purchase Kured's white labeled products for distribution under Denver Marketing's trademarks and trade names. The three pens will be available in Pineapple Express, Strawberry Diesel and a new terpene profile Blue Dream.
Benjamin Martch CEO of Kured and CMO of NewLeaf Brands Inc. commented, 'These white label agreements have proven to be a great move for Kured and the clients that we work with. Kured's white label division offers custom vaporizer products of all different types utilizing our cutting-edge processes and formulations while keeping the ability for custom terpene profiles, look and feel open to the customer's desires. We are able to fill orders of any size or liking in an incredibly short amount of time due to our large in-house manufacturing capacity. We look forward to not only working with existing clients, but also assisting a number of future clients to fulfil their CBD needs.'
ABOUT NewLeaf Brands: NewLeaf Brands, Inc. is an innovative Cannabidiol ("CBD") lifestyle Company. Through the Company's wholly-owned subsidiaries We are Kured, LLC, Drink Fresh Water, LLC, ReLyfe Brand, LLC and TeaLief Brand, LLC the Company's main business activities encompass the development, marketing, and distribution of CBD products (including vaporizer pens/cartridges, hot/cold tea, softgel capsules and beverages) throughout North America, South America, and Europe. In addition, NewLeaf Brands, Inc. has extensive retail and cultivation land investments in Oregon, USA."
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The Supreme Cannabis Company, Inc. (OTCQX: SPRWF) (TSX: FIRE), is a global diversified portfolio of distinct cannabis companies, products and brands. The Supreme Cannabis Company, Inc. recently announced the launch of Supreme Heights, an investment platform based in London, U.K. focused on opportunities in the U.K. and Europe's CBD health and wellness space. Supreme Heights intends to make strategic investments in and provide support services to differentiated high-growth health and wellness businesses with focused brands and premium CBD offerings. Supreme Cannabis has launched Supreme Heights as a separate entity that will solely address opportunities in the U.K. and Europe's CBD health and wellness market. Supreme Heights will benefit from Supreme Cannabis' regulatory, product commercialization, supply chain, marketing and capital markets expertise and corporate support services. Supreme Cannabis' management team has immense experience supporting health and wellness companies operating in Canada and international markets. Supreme Heights will draw on the Company's experience launching premium brands. "The rapidly evolving CBD markets in the U.K. and Europe present compelling investment opportunities given the promising environments for new health and wellness companies to establish differentiated brands and capture meaningful market share. Supreme Heights is positioned to quickly act on attractive opportunities and establish an early mover advantage in the space," said Navdeep Dhaliwal, Chief Executive Officer of Supreme Cannabis. "Supreme Heights will benefit from our experience launching some of the most premium cannabis brands in Canada and from the strong leadership and the deep industry connections of our UK partners. We look forward to driving value for Supreme Cannabis shareholders through this investment platform."
Auxly Cannabis Group Inc. (OTCQX: CBWTF) (TSX-V: XLY) is an international cannabis company dedicated to bringing innovative, effective, and high-quality cannabis products to the medical, wellness and adult-use markets. Auxly Cannabis Group Inc. recently announced that it had entered into a hemp cultivation and purchase agreement pursuant to which the Company has agreed to act as the financial sponsor for the development of a hemp farming co-operative consisting of six individual hemp license holders pursuant to the Cannabis Act, located in Prince Edward Island. "We are very excited to partner with experienced farmers in the province of PEI," said Hugo Alves, President of Auxly. "I'm proud of our Dosecann team for finding this opportunity and being able to demonstrate our continued support for Atlantic Canada. This project ensures our ability to meet the growing market demand for wellness and adult-use cannabidiol (CBD)-based products, and enhances our commitment to bringing innovative, branded derivative cannabis products to Canadian consumers."
Planet 13 Holdings Inc. (OTCQX: PLNHF) (CSE: PLTH) is a vertically integrated cannabis company based in Nevada, with award-winning cultivation, production and dispensary operations in Las Vegas. Planet 13 Holdings Inc. recently announced that it had begun construction of a 2,000 sq. ft. Event Space, a part of the Phase II expansion of the Planet 13 Cannabis Entertainment Complex. After successfully hosting VR Fest during the Consumer Electronics Show ("CES") Planet 13 has fielded a substantial number of requests to host various other events, including corporate events, conferences, and weddings. The Event Space will have the capacity to host up to 200 people and have the ability to expand capacity utilizing the coffee shop and bistro to host fully catered events for up to 350 people. "During the two days that we hosted VR Fest, we had over 3,000 people in the SuperStore each day. Las Vegas brings people from all over the world together to attend unique events and personal celebrations each year. By building-out our Superstore footprint to host a selection of these gatherings in a super-premium environment centered around a holistic cannabis experience, we will give these visitors lasting memories, generate additional revenue and accelerate our brand extension efforts both nationally and internationally," said Larry Scheffler, Co-Chief Executive Officer of Planet 13. "We view each event we host as an opportunity to showcase our brands and create a lasting memory. There is nothing like our Superstore anywhere in the world, and as our reputation has grown, we have experienced growing demand for a premium event space, located within walking distance of the Las Vegas Strip, to host everything from weddings to smaller conferences. We guarantee that you'll remember your event, the Superstore and the TRENDI vape that was with you the whole time."
Harvest Health & Recreation Inc. (OTCQX: HRVSF) (CSE: HARV), headquartered in Tempe, Arizona, is a multi-state cannabis operator (MSO) and vertically-integrated cannabis company. Harvest Health & Recreation, Inc. recently announced the signing of an agreement to bring its popular Colors, CBx Essentials and Harvest-branded CBD product lines to more than 10,000 retail stores, including convenience stores and gas stations across the country. The multi-million dollar partnership, which will roll out to the Asian American Trade Associations Council retailer network brings leading CBD products with significant demand to a system of every day strategic markets in small towns and major metropolitan regions. "This exclusive partnership enables a massive advance in distribution for Harvest-owned CBD brands and follows our strategic path of expanding the scale of our wholesale and retail distribution nationally," said Harvest Chairman Jason Vedadi. "Demand for CBD is unprecedented and by delivering leading products in 10,000 accessible locations gives us an unparalleled reach to consumers."
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