The Cannabis Market Continues to Grow as Support Reaches Record Numbers
FinancialBuzz.com News Commentary
NEW YORK, Feb. 8, 2019 /PRNewswire/ -- The number of cannabis users worldwide is tremendous, considering the number of countries that have yet to legalize it. A report by the United Nations estimated that nearly 238 million people used cannabis in 2017. Despite the vast global presence, the North American segment alone accounted for 22% of global users. The North American region dominates global cannabis sales, driven mainly by the U.S. alone. The U.S. has not federally legalized cannabis but has given states the right and jurisdiction to decide the legality of cannabis. Currently, the majority of U.S. states have passed medical usage, while a fifth of the country allows for recreational use. The economic impact of cannabis within the U.S. and Canada are expected to drive the industry as well as lead other countries to explore possibilities of legalization. According to data compiled by Cooked Research, the global legal marijuana market is expected to reach USD 4.69 Billion by 2022. And it is expected to grow at a CAGR 22.03% during the forecast period. Weekend Unlimited Inc. (OTC: WKULF), The Supreme Cannabis Company (OTC: SPRWF), Future Farm Technologies Inc. (OTC: FFRMF), Kaya Holdings, Inc. (OTC: KAYS), Freedom Leaf Inc. (OTC: FRLF)
Support for legislation to legalize cannabis has never been higher in recent years. In 2018, 62% of Americans advocated for the legalization of cannabis compared to approximately 30% in the early 2000s. Many are supporting the use of medical cannabis due to the various health benefits cannabis is associated with. By application, the medical segment controls approximately 67.2% of the global market share but the recreational market is expected to prevail in the future, due to U.S. states like California, Colorado, and Nevada. Via Forbes, Scott Greiper, the President of Viridian Capital Advisors, said that the pace of legalization is accelerating around the world, not just in the U.S., and for both medical and recreational marijuana. Greiper highlights that the biggest drivers for creating a large consumer market are: the lifting of the stigma of marijuana; globalization; more advanced technology for agriculture, genetics, biotechnology, and the extraction business coming into a mom-and-pop industry. "This is a very dynamic marketplace for investors and acquirers," said Greiper. "This is driving companies to become more efficient and more profitable operators."
Weekend Unlimited Inc. (OTC: WKULF) also listed on the Canadian Securities Exchange under the ticker (CSE: POT). Earlier this week the company announced breaking cannabis news that, "President & CEO, Paul Chu has issued this important update to shareholders as the Company solidifies its cross border, multi state operations (MSO) and launches its portfolio of lifestyle brands.
Dear Weekend Unlimited Shareholder: - 2019's momentum continues to accelerate for our company, we have solidified pillars of our brand portfolio including Canna Candys, Verve Beverage Company, the alliance in Washington State with Boggy Boon and Orchard Heights and our interest in Northern Lights Supply in Alberta, which just received its retail license to operate.
On February 1st we announced that Weekend Unlimited had won the iconic POT symbol lottery held by the Canadian stock exchanges. This lottery captured global attention, with coverage that spanned media entities including Forbes, Yahoo Finance, MarketWatch, The Globe and Mail, VICE Media, Financial Post, CTV, CBC, BNN Bloomberg, The Toronto Star along with extensive coverage within cannabis publications and networks. It has also generated exploratory partnership discussions with multiple entities.
The Canadian Securities Exchange, and Canada overall, have been beneficiaries of the attention - in addition to our Company - as it has served to highlight Canada's leadership position in cannabis legalization. We have been honored to have the opportunity to share our story so widely as a result, and to play a role in the growth of this burgeoning industry.
In the six weeks since becoming President and CEO, we have established a focused vision and are growing a team that is focused on an aggressive operational buildout. Allow me to share some highlights from that work:
- Weekend is a fast growing, multi-state operator committed to both wellness and recreational cannabis applications, and focused on developing lifestyle brands and experiences to define the future of the cannabis industry
- Our disciplined growth strategy centers upon defined CBD and THC business lines with a focus on brands that align with lifestyles for expansive retail distribution with CBD, and premium distribution in adult-use-legal markets.
- Weekend will launch and scale its own consumer packaged brands for CBD in states and international markets
- The Company is adding to its CPG experienced management team
With international interests in Canada and pending in Jamaica, Weekend will have a primary focus as a cross-border brand aggregator, bringing brands to market with CBD products and deploying the best practices of the consumer-packaged goods industry. We have a vertically integrated base of operations in California, the largest legal recreational cannabis market in the United States (CNBC), which will be leveraged to grow throughout the US. Here are some key points for your consideration:
- CBD provides the most lucrative opportunity to establish brand leadership for current and future expansion and sales
- CBD will pave the way for our brands in the THC space for future recreational legal markets
- Strong existing brand portfolio to accelerate distribution targeted to lifestyle applications
- In California we have vertical integration – extraction, production, distribution and ownership – with High Desert Group in Adelanto
- LIVE experiences to penetrate markets, facilitate adoption with tastemakers, and create demand
- NHL San Jose Sharks sponsorship – CHAMP athletic demographic to be scaled with an expanding line and spokespeople
- Overall, we are harnessing entrepreneurial talent and combining it with consumer-packaged goods best practices
Our position has only been strengthened with the recent support for the cannabis industry in the US, noting that new US Attorney General, William Barr has made a written pledge not to go after marijuana companies complying with state laws. As a multi state operator, this, combined with the Farm Bill passage has opened up opportunities in the US, the central focus of our business. In Washington, the Orchard Heights - Boggy Boon alliance is already shipping product to retail stores, Canna Candys shipments will begin in February and Verve Beverage Company will be shipping in March. A new SKU for Canna Gummies has been added to our product line, gummies are the top selling candy format, and we have pending distribution deals close to completion for high volume retail placement.
We have implemented a centralized service capability to reduce costs and streamline effectiveness from production through to sales and service. As we advance on these priorities, we will be able to share details and results with shareholders. In addition, we are in the final stages of moving our head office in New York City. This quarter will mark a tremendous period in the history of our Company as we launch our key brands into the marketplace and seize on the awareness that has resulted from the iconic POT symbol lottery - becoming a part of our story and the story of recreational cannabis legalization, forever.
To conclude, here is our renewed statement of purpose: Weekend Unlimited exists to serve people's desires for wellness and happiness by harnessing the properties of the cannabis plant by developing amazing products and experiences that enhance lifestyle choices."
For our latest "Buzz on the Street" Show featuring Weekend Unlimited Inc. recent corporate news, please head over to: https://www.youtube.com/watch?v=-WUlX79gIQE
The Supreme Cannabis Company (OTCQX: SPRWF) is a Canadian publicly traded company committed to providing premium brands and products that proudly reflect its consumers, people and uniquely innovative culture. The Supreme Cannabis Company, Inc. recently announced that the Company's wholly owned subsidiary, 7ACRES, has entered into a supply agreement with the New Brunswick Liquor Corporation to supply recreational cannabis to its retail stores and has been registered as a supplier in the province of Saskatchewan. "We're excited to announce that 7ACRES-branded products will be available for adult-use in eight Canadian provinces coast-to-coast," said Navdeep Dhaliwal, Chief Executive Officer of Supreme Cannabis. "In a short amount of time, 7ACRES has won multiple awards and received overwhelmingly enthusiastic consumer feedback. Our Company has made it a priority to expand 7ACRES' domestic distribution so that more Canadians will be able to experience our High-End CannabisTM products."
Future Farm Technologies Inc. (OTCQB: FFRMF) is a Canadian company with holdings throughout North America including California, Massachusetts, Florida, Maine, Puerto Rico and Newfoundland. Future Farm Technologies Inc. recently announced that it has reached an agreement with its Puerto Rico partner, TCG Investments, LLC, owner of the "Clínica Verde" brand, to expand its ownership interest in its Puerto Rico subsidiary, FFPR, LLC. Future Farm and TCG intend to purchase their former business partner's interest, resulting in Future Farm owning a 50% ownership interest and 60% economic interest. Future Farm previously held a 40% ownership interest and 50% economic interest in FFPR. "Puerto Rico is a strategic location for Future Farm expansion given its soaring patient population and increasing social acceptance of medical cannabis," added William Gildea, Chief Executive Officer of Future Farm. "We are excited to continue building out the Clinica Verde dispensaries to provide legal, quality flower, edibles and concentrates to patients residing on and visiting Puerto Rico at this time of island-wide restoration and growth."
Kaya Holdings, Inc. (OTCQB: KAYS), through subsidiaries, produces, distributes or sells legal premium medical and recreational cannabis products, including flower, concentrates and oils, and cannabis-infused foods. Kaya Holdings, Inc. recently launched a subsidiary called Kaya Worldwide to explore a number of international opportunities for the expansion of Kaya Medical and Recreational Cannabis Operations. The Company also issued an update on its U.S. operations and the scheduling of KAYS' Annual Shareholder Video and Conference call. The Company has formed a new subsidiary, Kaya Worldwide, to explore and secure opportunities that have been presented to KAYS to serve markets outside of North America, including the European Union, Asia, and Africa. "To date we have engaged foreign counsel and allocated manpower and resources to potentially secure participation in large-scale, cultivation-for-export opportunities in 2 separate countries," commented Craig Frank, Chief Executive Officer of Kaya Holdings. "We are exploring financing opportunities to fund these projects, and believe that the experience we have gathered in our five years of compliant operations provides us with the knowledge and track record to implement ambitious overseas projects of this magnitude. We promised an era of growth, and this new direction is part of our reinvigorated, reenergized effort."
Freedom Leaf Inc. (OTCQB: FRLF), is a group of diversified, international, vertically-integrated hemp businesses concentrating on health, wellness, and education as well as cannabis media companies. Freedom Leaf Inc. recently announced that it has entered into an LOI to acquire Hemp2o, a brand of hemp-infused beverages cofounded by San Francisco cannabis entrepreneur and rapper Gilbert Milam Jr., better known by his stage name Berner. Hemp2o, which offers eight flavors of organic hemp-infused beverages including top selling flavors "Sunset Sherbert", "Strawberry Watermelon", and "Blueberry Apricot", expects to generate over USD 2.0 Million of revenue in calendar 2018. The addition of Hemp2o to the Freedom Leaf family of CBD brands will expand the spectrum of Freedom Leaf products into virtually every delivery medium, adding beverages to its current SKUs of tinctures, vaporizers, and transdermal creams. The combined companies will also benefit from consolidated production operations and economies of scale on selling through both of the respective companies' sales channels. Freedom Leaf Chief Executive Officer Cliff Perry commented on the pending acquisition, stating: "We are excited to welcome Hemp2o into the Freedom Leaf family, and look forward to expanding our national footprint based on their success of established authorized accounts in some of the largest retailers in the U.S. We believe that our consolidated sales teams and expanded product selection will increase revenue through both of our respective channels."
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