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Widespread Global Cannabis Legalization is Expected to Drive Big Sales Revenues

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NEW YORK, June 26, 2018 /PRNewswire/ —

On June 19th, 2018, Canada had passed a nationwide legalization of recreational cannabis usage, following Uruguay to become just the second nation to do so. The U.S. had previously begun the process of cannabis legalization for the majority of the West Coast, while almost all states have medical use legalized to an extent. According to a report published by Hexa Research, the U.S. medical cannabis market size alone was valued at USD USD 5.44 Billion in 2016 and is anticipated to reach USD 19.48 Billion by 2024. Additionally, the industry is likely to witness strong growth during the forecast period due to the several medical benefits of cannabis products and the fast pace of legalization in the United States. WeedMD Inc. (OTC: WDDMF), GW Pharmaceuticals Plc. (NASDAQ: GWPH), Innovative Industrial Properties, Inc. (NYSE: IIPR), Kush Bottles, Inc. (OTC: KSHB), Vitality Biopharma, Inc. (OTC: VBIO)

While California is the largest cannabis market, Canada is projected to show strong sales as well. Deloitte’s report projects the Canadian market will be worth at least USD 5 Billion in sales in 2018. According to the New York Times, Tony Dean, the Senator who sponsored the bill in the Chamber, said that, “We’ve just witnessed a historic vote for Canada, the end of 90 years of prohibition. Now we can start to tackle some of the harms of cannabis.” Mr. Dean continued, “We can start to be proactive in public education. We’ll see the end of criminalization and we can start addressing Canada’s USD 7 Billion illegal markets.”

WeedMD Inc. (OTC: WDDMF) also listed on the Toronto Stock Exchange Venture under (TSX-V: WMD). Yesterday the company announced breaking news that, “a federally-licensed producer and distributor of medical cannabis, is pleased to announce that the first batch of cannabis plants have been transplanted to its modern greenhouse located in Strathroy, Ontario and are scheduled for harvest by September 2018.

“Our initial crop of plants successfully entered our recently-licensed Strathroy greenhouse last week and our first 10,000 sq. ft. grow room is now fully operational,” said Keith Merker, Chief Financial Officer of WeedMD. “With this hybrid, large-scale, modern greenhouse, we will be able to produce quality cannabis with maximum efficiency. This facility will be the prominent source of supply for our medical cannabis patients and for future adult-use consumers across Canada and emerging international markets. I want to acknowledge and thank our incredibly dedicated, passionate and experienced best-in-class cultivation team.”

Strathroy Greenhouse Facility Update: 

  • Secured Health Canada cultivation licence for the first four grow rooms at its Strathroy facility on June 11, 2018
  • Initial harvest expected by September 2018
  • Phase I, 220,000 sq. ft. retrofit is scheduled for completion this fall, with plans to progressively bring a total of 20 grow rooms online expanding annual production to more than 21,000 kg
  • Phase II fully-funded expansion is underway with an incremental 175,000 sq. ft. conversion representing additional potential annual yield of more than 12,000 kg, bringing the total to more than 33,000 kg by this year-end
  • Phase III involves retrofitting the remaining 215,000 sq. ft., bringing total square footage to 610,000 sq. ft, and total annual production capacity to more than 50,000 kg

For more information, access our investor presentation here and corporate video here.”

GW Pharmaceuticals Plc. (NASDAQ: GWPH) is a biopharmaceutical company focused on discovering, developing and commercializing novel therapeutics from its proprietary cannabinoid product platform in a broad range of disease areas. GW Pharmaceuticals plc, along with its U.S. subsidiary, Greenwich Biosciences, announced on June 25th, 2018, that the U.S. Food and Drug Administration has approved EPIDIOLEX®, an oral solution for the treatment of seizures associated with Lennox-Gastaut syndrome or Dravet syndrome in patients two years of age or older. EPIDIOLEX is the first prescription pharmaceutical formulation of highly-purified, plant-derived cannabidiol, a cannabinoid lacking the high associated with marijuana, and the first in a new category of anti-epileptic drugs. Product availability is pending rescheduling which is expected to occur within 90 days. LGS and Dravet syndrome, which develop in childhood, are rare, severe forms of epilepsy that are notoriously treatment-resistant. Most patients with LGS and Dravet syndrome require multiple seizure medications and the majority are resistant to currently approved AEDs. The day-to-day impact of these conditions is significant with high rates of early mortality. “Today’s approval of EPIDIOLEX is a historic milestone, offering patients and their families the first and only FDA-approved CBD medicine to treat two severe, childhood-onset epilepsies,” said Justin Gover, GW’s Chief Executive Officer. “This approval is the culmination of GW’s many years of partnership with patients, their families, and physicians in the epilepsy community to develop a much needed, novel medicine. These patients deserve and will soon have access to a cannabinoid medicine that has been thoroughly studied in clinical trials, manufactured to assure quality and consistency, and available by prescription under a physician’s care.”

Innovative Industrial Properties, Inc. (NYSE: IIPR) is a self-advised, Maryland corporation focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated medical-use cannabis facilities. Innovative Industrial Properties Inc. recently announced that it closed the acquisition of the property located at Lot 1, Hopping Brook Road, Holliston, Massachusetts, and entered into a long-term lease and development agreement with a subsidiary of PharmaCann LLC for an approximately 26,000 square foot industrial facility and an approximately 32,000 square foot greenhouse facility on the property. The purchase price for the property was USD 3.0 Million. The PharmaCann subsidiary is also expected to construct the two buildings at the property, for which the Company has agreed to provide reimbursement of up to USD 15.5 Million. Assuming full reimbursement for the construction, the Company’s total investment in the property will be USD 18.5 Million. PharmaCann operates two cultivation and processing facilities and four registered medical-use cannabis dispensaries in Illinois, one cultivation and processing facility and four registered medical-use cannabis dispensaries in New York, and one medical-use cannabis dispensary in Massachusetts. “We are very pleased to extend our relationship with PharmaCann and support their continued growth into new states,” said Paul Smithers, President and Chief Executive Officer of the Company. “We believe that PharmaCann’s highly skilled team of professionals sets a very high bar for operational excellence and quality, and we look forward to the continued expansion of their platform to reach more and more patients in need.”

Kush Bottles, Inc. (OTCQB: KSHB) is a dynamic sales platform that provides unique products and services for both businesses and consumers in the cannabis industry including CBD manufacturers. Kush Bottles recently announced that it has launched a new division, Koleto Packaging Solutions, that will bring new, FDA-compliant packaging solutions to the pharmaceutical and veterinary industries. The global pharmaceutical packaging market is expected to reach USD 158.8 Billion by 2025. Kush Bottles plans to utilize its expertise from its industry-leading cannabis-focused packaging business to supply packaging solutions to these two new markets. The new division will be run by Edd Pratt, Executive Vice President, and is expected to serve pharmaceutical companies and veterinary clinics across the United States. Kush Bottles’ CEO Nick Kovacevich, commented, “As a leading provider of packaging solutions to the cannabis industry, we have an unrivaled track record of creating products that are elegant, while remaining compliant with all of the various state and local regulations. This expertise makes us uniquely suited for scaling our institutional knowledge into other heavily-regulated industries. Virtually all of our products are related to other industries and we see important applications for our child-resistant containers that adhere to stringent FDA regulations, which we believe makes these products relevant to pharmaceutical and veterinary clients.”

Vitality Biopharma, Inc. (OTCQB: VBIO) is dedicated to unlocking the power of cannabinoids for the treatment of serious neurological and inflammatory disorders. The Company recently announced that it has received approval from both the U.S. Drug Enforcement Administration as well as the State of California Research Advisory Panel, which permits the Company to continue development of its novel cannabinoid pharmaceutical prodrugs. Vitality Biopharma’s operations are in compliance with federal controlled substance regulations and are enabling development of a novel class of cannabinoid prodrugs that avoid psychoactivity. The Company’s lead compound VBX-100 is a proprietary prodrug of THC that is targeted to the gastrointestinal tract, meaning it reduces or avoids entry of THC into the bloodstream or brain. VBX-100 is produced on-site using an enzymatic biosynthesis process and will be produced according to cGMP pharmaceutical standards for use within clinical trials across the United States. Despite cannabis attaining legal status within the State of California and in many other states across the U.S. for medical and recreational purposes, pharmaceutical research and development continues to be closely regulated by the DEA and the U.S. Food and Drug Administration (FDA). In addition, the California Research Advisory Panel, a part of the California Attorney General’s Office, also approved Vitality’s cannabinoid pharmaceutical development activities. Robert Brooke, CEO and Co-founder of Vitality Biopharma adds that, “Our team first pioneered a novel biosynthesis process for our cannabinoid prodrugs, and now they’ve successfully scaled it in a way that could enable widespread supply for clinical trials and even commercialization. This puts us in an enviable position within our industry, and we look forward to seeing what else can be achieved in the months and year ahead.”

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Sugarmade Inc. Featured in CannabisNewsWire Publication Discussing Huge Impact of Hemp Industry on Farming

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Original story can be found at: http://www.globenewswire.com/news-release/2019/08/23/1905984/0/en/Sugarmade-Inc-Featured-in-CannabisNewsWire-Publication-Discussing-Huge-Impact-of-Hemp-Industry-on-Farming.html?f=22&fvtc=5&fvtv=41223728

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MariMed Receives Certificate of Occupancy for Cannabis Facility in New Bedford, Massachusetts

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NORWOOD, Mass., Aug. 22, 2019 (GLOBE NEWSWIRE) — MariMed Inc. (OTCQX: MRMD), a premier cannabis and hemp multi-state operator focused on health and wellness, has received a certificate of occupancy from the city of New Bedford, Massachusetts for its new cannabis cultivation and manufacturing facility.
“ARL Healthcare, our Massachusetts cannabis licensed subsidiary, will now schedule its final state inspection to be cleared to commence full operations of its cultivation, production and dispensary,” said Bob Fireman, MariMed’s CEO. “The state inspection will also include our completed 10,000 sf dispensary located in Middleborough, Massachusetts.”The New Bedford manufacturing facility is part of a 137,000 sf building situated on 17 acres providing for future growth and expansion. This state-of-the-art cannabis production facility will open with 34,000 sf of canopy growing space, which will be processed in its GMP standard production laboratory and commercial kitchen. ARL Healthcare has already run local job fairs and commenced hiring and training some top individuals both in New Bedford and Middleborough, as part of its commitment to these municipalities. It intends to create over 100 new jobs in total in Massachusetts.MariMed will be introducing into the Massachusetts marketplace its top brands and products that have had great success in other state facilities under its management. This will include its flower brand Nature’s Heritage™ with its proprietary genetics and strains; its infused product brands Betty’s Eddies™, and Kalm Fusion™; and its exclusive licensed brands “The Healer,” “Binske,” “Tikun Olam,” “Lucid Moods,” “Dab Tabs” and others. These products will be made in the New Bedford facility and will be sold through company dispensaries as well as distributed to the wholesale market.“We are delighted to be entering into the Massachusetts market with its current shortage of supply,” noted Fireman. “ARL Healthcare is now a wholly owned subsidiary, as we work towards completing the consolidation of our managed licensed clients in multiple states. As such, the revenue from this operation will be reflected in our public company results.”ARL Healthcare under its RMD license, has three permits for dispensaries in Massachusetts. Middleborough will be first to open with the other two currently in the implementation process. The company intends to become one of the largest wholesale producers in Massachusetts to support both the medical and adult use markets and is positioned for great success in Massachusetts.About MariMedMariMed, a multi-state cannabis operator, is dedicated to improving the health and wellness of people through the use of cannabinoids and cannabis products. The company develops, owns and manages seed to sale state licensed cannabis facilities which are models of excellence in horticultural principles, cannabis cultivation, cannabis infused products and dispensary operations. MariMed has an experienced management team that has produced consistent growth and success for the company and its managed business units.The company is at the forefront of science and innovation through research developed by its lab technicians and medical advisors resulting in industry leading products and brands, including “Kalm Fusion” and “Betty’s Eddies.” These precision dosed products are focused on specific medical symptoms which are licensed and distributed across the country.In 2019, with the enactment of the 2018 US Farm Bill, MariMed formed MariMed Hemp, a wholly owned subsidiary, to leverage its seed to sale cannabis platform and experience into the emerging hemp-based CBD industry. The company acquired a significant stake in Kentucky-based GenCanna Global, a national and international leading cultivator, producer, and distributer of hemp and GMP quality CBD oils and isolates. With this strategic relationship, MariMed Hemp has developed and is marketing a portfolio of CBD brands and products to multiple retailers and direct to consumers both domestically and internationally. MariMed Hemp recently launched its Hemp Engine™ store-within-a-store distribution platform for retailers. It is also actively pursuing other hemp industry business opportunities with genetics, farming, biomass, and new and innovative technologies.For additional information, visit marimedinc.comFacebook: MariMedIncImportant Caution Regarding Forward Looking Statements
This release contains certain forward-looking statements and information relating to MariMed Inc. that is based on the beliefs of MariMed Inc.’s management, as well as assumptions made by and information currently available to the Company. Such statements reflect the current views of the Company with respect to future events including estimates and projections about its business based on certain assumptions of its management, including those described in this Release. These statements are not guarantees of future performance and involve risk and uncertainties that are difficult to predict, including, among other factors, changes in demand for the Company’s services and products, changes in the law and its enforcement and changes in the economic environment. Additional risk factors are included in the Company’s public filings with the SEC. Should one or more of these underlying assumptions prove incorrect, actual results may vary materially from those described herein as “hoped,” “anticipated,” “believed,” “planned, “estimated,” “preparing,” “potential,” “expected,” “looks” or words of a similar nature. The Company does not intend to update these forward-looking statements. None of the content of any of the websites referred to herein (even if a link is provided for your convenience) is incorporated into this release and the Company assumes no responsibility for any of such content.            
All trademarks and service marks are the property of their respective owners.Media & Investor Contact
Ronald Both or Jonathan Leuchs
CMA 
Tel (949) 432-7566
MRMD@cma.team
 

Original story can be found at: http://www.globenewswire.com/news-release/2019/08/22/1905643/0/en/MariMed-Receives-Certificate-of-Occupancy-for-Cannabis-Facility-in-New-Bedford-Massachusetts.html?f=22&fvtc=5&fvtv=41223728

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CO Gov Polis charts course for CBD and hemp innovation at sold-out AHPA Supplement Congress

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Denver, CO, Aug. 22, 2019 (GLOBE NEWSWIRE) —Colorado Governor Jared Polis rallied more than 200 hemp farmers, manufacturers, producers, retailers, and industry professionals during his keynote address to the American Herbal Products Association (AHPA) Hemp-CBD (cannabidiol) Supplement Congress held earlier this month.No stranger to CBD and hemp legislation, Polis called for action for an easier hemp licensing application process, which he says would strengthen agricultural communities.“We know what’s worked to grow our agricultural sectors, and it’s no different for hemp. It’s a big part of our rural economic initiative,” Polis said. “You came to the right place to learn about an industry that is very much, even in Colorado, still in our early days, but more mature than in other states.”Colorado is on the forefront of industrial hemp production thanks to innovative leadership and Polis outlined the newest public-private initiative called CHAMP (Colorado Hemp Advancement and Management Plan). The plan was created to provide in-depth knowledge and information about CBD to other governmental agencies. CHAMP consists of eight focus groups and concentrates on research, development and seed; cultivation; testing; transportation; processing; manufacturing; marketing; banking and insurance. Food and Drug Administration (FDA) and U.S. Department of Agriculture (USDA) officials also provided an update on efforts to implement hemp provisions in the 2018 Farm Bill.Cara Welch, FDA’s Acting Special Assistant to the Deputy Commissioner for Policy Legislation & International Affairs, stressed that the agency has well-established frameworks and regulatory tools for evaluating products under its jurisdiction and the same frameworks and tools are being applied to hemp.“We’re trying to be as transparent and informative as possible on these issues, and to resolve open questions quickly, efficiently, but also thoughtfully,” Welch said. USDA Hemp Program Chief Bill Richmond said that federal authorities are working to provide farmers and state and local regulators with a solution that simplifies interstate hemp commerce and the USDA is wrestling with the Farm Bill’s requirement for a national THC testing protocol.“Our goal is to provide a consistent, easy-to-follow regulatory framework around hemp production,” Richmond said.During the two-day AHPA Congress, hemp industry experts shared preliminary data showing rapid industry growth. Hemp-derived CBD sales ballooned to $238 million, an increase of 57% in 2018 over the previous year, according to Nutrition Business Journal. Hemp acreage under license across the U.S. increased nearly five-fold in the past year from 112,000 acres in 2018 to 480,000 acres in 2019, according to data gathered by advocacy group votehemp.com.“The overwhelming turnout for the first AHPA Hemp-CBD Supplement Congress demonstrates this emerging industry’s commitment to becoming a well-regulated industry in order to meet growing consumer demand for legal, safe and high-quality products,” said AHPA President Michael McGuffin. “The industry must navigate rapidly evolving legal, regulatory and financial landscapes and AHPA is taking what it has learned from the well-established herbal industry to provide companies with the expertise and resources needed to ensure the long-term success of this emerging sector of the herbal industry.”More than 100 attendees also participated in half-day workshops covering current good manufacturing practice (cGMP) requirements for dietary supplements and regulations for new dietary ingredients (NDIs) and generally recognized as safe (GRAS) ingredients for food and supplements.Additional HighlightsGetting to market and hemp supply chain managementA primer on FDA regulation of hemp-CBD supplementsHemp-CBD supplements from the retailers’ perspectiveMedia Coverage Colorado Biz Magazine, August 19, 2019: https://www.cobizmag.com/Trends/Governor-Polis-Establishes-Way-Forward-for-Colorado-Hemp-Industry/Westword, August 17, 2019: https://www.westword.com/marijuana/governor-jared-polis-outlines-colorados-hemp-strategy-11450725NUTRAingredients-USA, August 19, 2019: https://t.co/hegIjedPXW?amp=1 NUTRAingredients-USA, August 20, 2019: https://www.nutraingredients-usa.com/Article/2019/08/20/Brand-development-key-to-success-in-CBD-game###About AHPAThe American Herbal Products Association (AHPA) is the national trade association and voice of the herbal products industry. AHPA is comprised of more than 400 member companies, consisting primarily of domestic and foreign companies doing business as growers, processors, manufacturers and marketers of herbs and herbal products as foods, dietary supplements, cosmetics, and non-prescription drugs, and also including companies that provide expert services to the herbal trade. Founded in 1982, AHPA’s mission is to promote the responsible commerce of herbal products to ensure that consumers continue to enjoy informed access to a wide variety of herbal goods. www.AHPA.org
Attachmentsimage2pixilstudio-events2-286Haley Chitty
American Herbal Products Association (AHPA)
3015881171 ext. 104
communications@ahpa.org

Original story can be found at: http://www.globenewswire.com/news-release/2019/08/22/1905542/0/en/CO-Gov-Polis-charts-course-for-CBD-and-hemp-innovation-at-sold-out-AHPA-Supplement-Congress.html?f=22&fvtc=5&fvtv=41223728

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