Financialnewsmedia.com News Commentary
PALM BEACH, Florida, May 17, 2019 /PRNewswire/ -- After years of prohibition, cannabis is taking center stage as legalization rolls across the U.S. and most of the global community. In fact, according to New Frontier Data there are about 272 million cannabis consumers globally, or 4% of the global population. Also, these consumers have spent upwards of $356 billion each year on cannabis.
"Cannabis legalization and decriminalization has not only occurred in nearly 60% of the United States; it is now being explored or adopted in over 60 nations around the world. Our data shows full federal legalization, specifically in the U.S., will drive material gains across key economic sectors, including federal revenue generation, national job creation, and reduced government healthcare spending and crime rates," said Giadha Aguirre de Carcer, Founder and CEO of New Frontier Data. That's great news for the cannabis retail industry. Some of the top companies in the industry include High Tide Inc. (CSE:HITI)(OTC:HITIF), Fire & Flower Holdings Corporation (TSX-V:FAF)(OTC:FFLWF), OrganiGram Holdings Inc. (TSX-V:OGI) (OTC:OGRMF), Harvest One Cannabis Inc. (TSX-V:HVT)(OTC:HRVOF), and Green Organic Dutchman Holdings Ltd. (TSX:TGOD) (OTC:TGODF).
High Tide Inc. (CSE:HITI)(OTCQB:HITIF) BREAKING NEWS: High Tide Inc. just announced that Canna Cabana has been granted membership into the Canadian Franchise Association ("CFA"). High Tide is now in possession of a Certificate of Membership for both the Smoker's Corner retail smoking accessories business and the Canna Cabana retail cannabis business, which is unique in Canada.
"With Canna Cabana becoming a CFA member, we can now offer potential franchisees the unparalleled choice between two CFA-approved cannabis-related businesses to purchase and operate," said Raj Grover, President and Chief Executive Officer of High Tide. "With a total of nine current franchisees between the Smoker's Corner and Canna Cabana businesses, franchising has been an integral part of High Tide's retail strategy since 2014."
According to the CFA, Canadian franchises contribute over $100 Billion per year to the economy, create jobs for over 1.9 Million Canadians and enable over 76,000 hardworking franchisees to be their own boss as the owner of their own small business.
Other cannabis-related developments from around the markets include:
Fire & Flower Holdings Corporation (TSX-V:FAF)(OTCPK:FFLWF) just announced that it entered into an agreement pursuant to which Fire & Flower will acquire certain assets of vendor, Prairie Sky Cannabis Inc. The Vendor currently operates four licensed retail cannabis shops in the province of Saskatchewan in the communities of Battleford, Estevan, Martensville and Moosomin, Saskatchewan under the name Jimmy's Cannabis Shop.
"The acquisition of four additional retail cannabis stores in the province of Saskatchewan is the first in Fire & Flower's aggressive acquisition strategy for 2019. In conjunction with our Open Fields wholesale distribution platform in the province, it cements our leadership position in this strategic market. Along with our existing portfolio of organic growth opportunities, the acquisition puts us in a good position to meet our growth goals for the year," said Trevor Fencott, CEO of Fire & Flower.
OrganiGram Holdings Inc. (TSX-V: OGI.V)(OTCQX:OGRMF) just announced that it applied to list its common shares on the NASDAQ Global Select Market. In advance of anticipated listing on the NASDAQ, Organigram will file a Form 40-F Registration Statement with the United States Securities and Exchange Commission. The listing of the Company's common shares on the NASDAQ remains subject to the approval of the NASDAQ and the satisfaction of all applicable listing and regulatory requirements. The Company will continue to maintain the listing of its common shares on the TSX Venture Exchange under the symbol "OGI".
"As a management team we are seeing increased interest from investors in the U.S. and internationally and believe that having a listing on the NASDAQ will facilitate trading" says Paolo De Luca, Chief Financial Officer of Organigram. "In addition, based on precedents in the cannabis space, we expect trading volumes to increase which should result in increased liquidity for all investors".
Harvest One Cannabis Inc. (TSX-V:HVT)(OTCQX:HRVOF) just acquired 52% interest in Greenbelt Greenhouse Ltd. an Ontario private company located in Hamilton, Ontario. This strategic acquisition will supply Harvest One with high quality greenhouse grown cannabis from Greenbelt's 152,000 sq. ft. facility which will primarily be dedicated to Harvest One's expanding cannabis-infused health, wellness, and self-care products under the Dream Water and Satipharm brands, and expanding products resulting from the recently announced acquisition of Delivra, following the closing of that transaction. The Transaction ensures that Harvest One remains a vertically integrated house of brands by controlling the production of cannabis through cultivation and extraction, and ultimately to packaged good for consumers.
The Green Organic Dutchman (TSX:TGOD) (OTCQX:TGODF) is developing a distribution hub for beverage and edible products for Canada and abroad. "We believe that the beverage and edible market will be the largest single segment of the cannabis market. Cannabis, as the base ingredient, makes these products possible. The medicinal and recreational market for CBD and THC will only increase over time and starting with an organic input is the most important aspect to developing these higher margin products," notes TGOD President Csaba Reider.
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