NEW YORK, June 26, 2018 /PRNewswire/ —
According to Forbes, citing Brightfield Group, the global legal cannabis market is projected to hit USD 31.4 Billion by 2021. Currently, the global market is valued at approximately USD 7.7 Billion and will see growth at CAGR of 60%, as other countries begin to pass cannabis regulations. The biggest market drivers are attributable to reformed regulations, high tax rates as well as the increasing medical usage. The U.S. currently contributes to 90% of the global market sales but is projected to drop to 57% by 2021, largely due to Canada’s recent nationwide legalization of recreational cannabis, which is expected to close by the end of 2018. Most countries are legalizing cannabis on a medical scale, while only Uruguay, and now Canada, has legalized the plant entirely so far. Latin American and European countries are beginning to adopt medical cannabis use as well, and German political parties are considering legalization for recreational use. Khiron Life Sciences Corp. (OTC: KHRNF), United Cannabis Corporation (OTC: CNAB), GB Sciences, Inc. (OTC: GBLX), Terra Tech Corp. (OTC: TRTC), Golden Leaf Holdings Ltd. (OTC: GLDFF)
The recent progress, from both the political and technological grounds, has helped push the market in new directions. Editor-in-Chief at Arcview Market Research and Principal Analyst at BDS Analytics, Tom Adams, explained: “Our data shows positive indicators across the board for the legal cannabis industry, in North America and around the globe. The passage of the 2016 ballot initiatives and continued maturation of the existing Adult-Use markets are the primary drivers of the growth this year. That’s nothing compared to what we can expect in 2018 and beyond from Nevada’s tourism, and California and Canada planning to launch Adult-Use sales in 2018.”
Khiron Life Sciences Corp. (OTC: KHRNF) also listed on the TSX Venture Exchange under the ticker, (TSX-V: KHRN). Just announced breaking news this morning that, “a Canadian integrated medical cannabis company with its core operations in Colombia, announced today the appointment of Chris Naprawa as President, effective immediately. Mr. Naprawa, who will report to Alvaro Torres, CEO, will lead Khiron’s capital markets activities, including outreach to existing and potential shareholders in Canada and internationally. This appointment is expected to increase the Company’s visibility amongst institutional investors and provides greater depth of management expertise in corporate finance, investor engagement, and mergers and acquisitions.
Mr. Alvaro Torres, CEO of Khiron, stated, “Mr. Naprawa is a proven leader who brings outstanding execution strength to the Khiron team. His rare combination of skill sets, both as a capital markets professional and developer of growth companies, positions us with the ability to further focus our business activities. On behalf of our management team and board, I welcome Mr. Naprawa to our team.”
Mr. Chris Naprawa, President of Khiron, stated, “This is a remarkable time for the medical cannabis industry internationally, with regions such as Latin America representing a large addressable market potential. This is similar to the market potential of Canada 5-years ago. I personally look forward to deploying my decades of expertise and relationships into developing the capital markets activities of Khiron. I am delighted to take on this role and work with the accomplished team members of the Company.”
Mr. Naprawa brings extensive institutional capital markets experience to the Company. Prior to joining Khiron, Mr. Naprawa was Partner at Sprott Capital Partners, Head of Equity Sales at Macquarie Canada, Head of Equity Sales and Trading at Dundee Securities, and Managing Director at Primary Capital. He was also previously founder and CEO of Starcast Solutions, a company successfully sold to Bell Canada. Mr. Naprawa holds a Bachelor of Arts from Queen’s University. Khiron also announced the grant of 200,000 stock options to Mr. Naprawa pursuant to Khiron’s stock option plan, exercisable at a price of $1.40 per common share. The stock options have a term of 5 years and will vest in quarterly installments over a two-year period after shareholder approval of the Company’s stock option plan at its annual general meeting.”
United Cannabis Corporation (OTCQB: CNAB) is a biotechnology company dedicated to the development of phyto-therapeutic based products supported by patented technologies for the pharmaceutical, medical, and industrial markets. Earlier this year, the Company announced that Jamaica’s University of the West Indies’ Ethics Committee has reviewed and approved its proposal to conduct clinical trials on its Prana Bio Nutrient Medicinals P1 Capsules for the treatment of chronic pain. The study, titled, “An Open-Label, Phase 1, 2-Way crossover study evaluating the pharmacokinetics of Prana P1 THC activated capsules,” will be conducted in conjunction with Cannabinoid Research & Development (“CRD”), the Company’s Jamaican subsidiary, at the Centre For Cannabis Research at the University Of West Indies, Mona Campus, in Jamaica. Cannabinoid Research & Development (CRD), a subsidiary of United Cannabis, is a Jamaican based corporation pursuing local licensing to advance the use of medical cannabis therapies through biomedical research and development for the nutraceutical industry. CRD focuses on genetic restoration, cannabinoid isolation techniques, scientific research, educational programs, and promotes domestic job opportunities.
GB Sciences, Inc. (OTCQB: GBLX) is a diverse cannabis company, focused on standardized cultivation and production methods; as well as biopharmaceutical research and development. Recently, the Company announced that it has filed nonprovisional patent applications to protect its myrcene-containing complex mixtures for the treatment of chronic pain and heart disorders. These new U.S. and PCT international applications claim the benefit of GB Sciences’ provisional application previously filed on May 22nd, 2017, while supplying additional data from patch-clamp studies on individual cells that further support their claims. Novel pain treatments are a promising field of research and development, given the concerns regarding opioid usage and potential for abuse. The Company’s novel pain formulations are also substantially free of delta-9 tetrahydrocannabinol (“THC”), which minimizes their potential for abuse. Pain represents an estimated health burden of between USD 560 and 650 Billion for chronic pain and between USD 17 and USD 20 Billion for immunological/neuropathic pain in the US alone.
Terra Tech Corp. (OTCQX: TRTC) operates through multiple subsidiary businesses including Blüm, IVXX Inc., Edible Garden, and MediFarm LLC. Earlier this month, the Company announced that it has commenced cultivation at its new Sparks facility, following approval from the State of Nevada. Utilizing Terra Tech’s proven practices and procedures, the team has successfully begun cultivation of its first cannabis crop, planting the first seeds in early June. Terra Tech expects to distribute and sell cannabis grown at the Sparks facility from its first harvest throughout Nevada by the fourth quarter of 2018. Construction of the 30,000 square foot cultivation facility was completed during the first quarter of 2018, in conjunction with NuLeaf Sparks. The Sparks facility was built out using LED lights to increase efficiencies and reduce the cost of production. Terra Tech’s proprietary IVXX cannabis products will be grown and harvested at the Sparks facility under the safest and most beneficial conditions. All products will be thoughtfully produced, rigorously tested and certified to the highest standards of potency and purity. IVXX cultivated at the Sparks location will be sold at Terra Tech’s Blüm retail and medical cannabis dispensaries in Reno, Nevada and Las Vegas, Nevada, and to third-party dispensaries.
Golden Leaf Holdings Ltd. (OTCQB: GLDFF), a Canadian company with operations in multiple jurisdictions including Oregon, Nevada and Canada, is one of the largest cannabis oil and solution providers in North America, and a leading cannabis products company built around recognized brands. On May 31, 2018, the Company announced its financial results for the fiscal first quarter ended March 31, 2018, and a general business update. For the quarter ended March 31, 2018, net revenue was USD 3.2 Million, as compared to USD 2.3 Million for the same three-month period in 2017 (“Q1 2017”). The 42% year-over-year increase largely reflects the contribution from product sales as a result of the acquisition of Chalice Farms in July 2017, more than offsetting supply constraints of key products across the portfolio and a challenging wholesale market in Oregon.
Subscribe Now! Watch us report LIVE https://www.youtube.com/FinancialBuzzMedia
Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz
Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz
Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/
FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.