NEW YORK, November 3, 2016 /PRNewswire/ --
http://www.FinancialBuzz.com - Cannabis legalization is on the ballot in nine states, and November 8th may become a major milestone for a long struggle to expand the legal cannabis market to more states. According to the State of Legal Marijuana Markets report, published by ArcView Market Research, the legal market sales are expected to surpass $22 billion by 2020. America's views in marijuana have change dramatically over the last couple of years, and continue to evolve still, meaning that legalization has a far better chance than in previous years. Finore Mining Inc. (FIN.CN), Aurora Cannabis Inc. (ACB.V), Organigram Holdings Inc. (OGI.V), Aphria Inc. (APH.V), Canopy Growth Corp (CGC.TO)
The states in focus this election are Arizona, California, Maine, Massachusetts and Nevada, which will decide whether to legalize recreational marijuana for adults, and Arkansas, Florida, Montana, and North Dakota, which will decide on legalizing medical marijuana. Supporters have confidence that the measures will pass in California and Florida, and possibly several other states, which will be a big win for America's legal cannabis industry.
It is not surprising that the legal cannabis industry is attracting entrepreneurs and businesses. Finore Mining Inc. (FIN.CN) recently announced that it has signed a letter agreement dated October 27, 2016 to acquire KushTown USA LLC. According to the agreement Finore Mining will acquire all of the issued and outstanding securities of Kushtown. As the transaction is being completed, the trading symbol in Canada to be changed to KSH, and Finore Mining will restructure its management team with a focus towards developing Kushtown USA product lines into a national retail brand.
Kushtown USA LLC is a California based leading liquid edibles company that specializes in cannabis infused medicated water, sodas, hot sauces and barbecue sauces. Since 2000, Kushtown has been one of the leaders in marijuana beverages and edible products in California, with sales to over 200 medical marijuana dispensaries. The company offers 20 different varieties of medicated sodas on its website. The sodas and drinks come in varieties of carbonated and non-carbonated beverages, with flavors like Cherry Cola, lemonade, fruit punch, and lemon lime, all infused with a medical marijuana THC oil tincture.
The creator of Kushtown USA, Peter Moret, started the company in 2000, after researching cannabis's medical effects, he created a Medical Marijuana tincture, which helped Moret's mother who was suffering from breast cancer at the time. The tincture dealing with the aches and pains from the cancer and also increased her appetite and activity. After seeing the benefits and results on his own mother, Peter began to manufacture and distribute the Kushtown sodas to the public.
Organigram Holdings Inc. (TSX-V: OGI) is a licensed producer of medical marijuana and regulated by Health Canada. Exponential growth in sales has led to the generation of positive adjusted EBITDA after only 7 operating quarters. The company focuses on Organic growing, the science of managing micro life enriched soil. The benefits of growing organic are no synthetic nutrients, pesticides, herbicides or additives, biodegradable source that has no negative impact on the environment, as well as important building blocks for odors, hormones, vitamins, pigments, resins, essential oils and cannabinoids.
Aurora Cannabis Inc. (TSX-V: ACB) is a licensed producer of medical marihuana pursuant to the Marihuana for Medical Purposes Regulations. It operates an approximately 55 thousand square foot expandable production facility in Alberta, Canada. Earlier this September the company announced that it has surpassed 7,700 active registered patients, just under eight months after the Company's first sale of product. On November first the company has completed the brokered private placement of 8.0% unsecured convertible debentures of the company with a syndicate of investment dealers, led by Canaccord Genuity Corp. for gross proceeds of $25 million.
Aphria Inc. (TSX-V: APH) is engaged in producing and selling medical marijuana through retail sales and wholesale channels. The Company is also engaged in the research and development, and commercial production of cannabis oil. Its cannabis oil products will include Champlain, Rideau and Capilano. On October 7th Aphria reported quarterly EBITDA of $1 million, which is 102% increase quarter over quarter in EBITDA, and 72% quarter over quarter increase in kilograms sold.
Canopy Growth Corp (TSE: CGC) is a diversified cannabis company. The Company, through its subsidiaries Tweed Inc. (Tweed), Bedrocan Canada Inc. (Bedrocan) and Tweed Farms Inc. (Tweed Farms), is engaged in the business of producing and selling legal marijuana in the Canadian medical market. On November 1st the company announced that it has acquired ownership of Vert Médical, a Quebec-based ACMPR applicant. Canopy Growth has also acquired the lease and the right to acquire 90 acres of land and a 7,000 square foot indoor growing and office facility located in Saint-Lucien, Quebec.
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