NEW YORK /PRNewswire/ -- According to a report by Grand View Research, the global medical cannabis market is projected to reach a value of USD 55.8 Billion by 2025. After the 2016 elections, the District of Columbia and 28 states have legalized cannabis for medical practices. The growing number of states and countries gaining approval for its use in therapeutic applications is one of the vital aspects in the market development, driving demand over the coming few years. Grand View indicates that several regulatory frameworks such as the Medical Marijuana Regulation and Safety Act will require persons or businesses related to the industry, such as growers, retail operators, and makers of processed pot products, to obtain permission and an annual state license beginning in 2018. FinCanna Capital Corp. (OTC: FNNZF), The Green Organic Dutchman Holdings Ltd. (OTC: TGODF), Cannabis Wheaton Income Corp. (OTC: CBWTF), CannaRoyalty Corp. (OTC: CNNRF), Indoor Harvest Corp. (OTC: INQD)
The recent developments, both from the political and technological arenas, helped propel the market in recent years. 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."
FinCanna Capital Corp. (OTC: FNNZF) also listed on the Canadian Securities Exchange under the trading symbol (CSE: CALI). Earlier today the company announced breaking news that, "Cultivation Technologies Inc., (CTI) its first investment in California, has achieved US$1 million in cumulative revenue since it commenced commercial operations in late January 2018. FinCanna announced previously this week that CTI has expanded its network of dispensaries carrying Coachella™ Premium brand of cannabis concentrates and vape cartridges which features all the major concentrate types, including diamonds, sauce, shatter, batter, and sugar, with an ongoing list of strains, to ten locations including premium dispensaries across California.
"We are very pleased to see the sales performance of CTI which has translated into its first US$1 million in revenue at only a fraction of its capacity," said Andriyko Herchak, President and CEO of FinCanna Capital. "With its sales team in place building out an ever-expanding distribution footprint, and it's manufacturing ramping up we see a bright future as we move into the second half of 2018."
CTI is working to maximize the commercial potential of its extraction facility, which can process an estimated 6,000 pounds of biomass per month, which translates to approximately 3.7 million grams of raw cannabis oil annually. FinCanna is entitled to receive 50% of the profits from this extraction facility.
CTI, through its subsidiaries, Coachella Manufacturing and Coachella Distributors, has helped pioneer cannabis "Extraction-as-a-Service" or "Contract Manufacturing" which it provides to brands, cultivators, manufacturers and distributors who require licensed Butane Hash Oil ("BHO") processing for their biomass or contract manufacturing services for various products. With divisions that fulfill the various levels of procurement of cannabis products, including distribution to retail dispensaries, CTI has been at the forefront of this developing industry - including meeting the complex standards required to be fully-licensed within the state.
Coachella Manufacturing is one of the first companies to operate a legal solvent extraction facility for cannabis in California. In support of safe manufacturing practises, CTI, has been actively engaged in sponsoring state legislation AB2679, which sets the standards and institutional best practises for cannabis extraction using solvents.
"We're quite encouraged about the revenue growth CTI is experiencing in just a few short months since launching operations," said Miguel Motta, President & CEO of Cultivation Technologies, Inc. "We've learned a lot about the market and expect to build upon our initial success in 2018 and beyond."
The Green Organic Dutchman Holdings Ltd. (OTC: TGODF) is a research & development company licensed under the Access to Cannabis for Medical Purposes Regulations to cultivate medical cannabis. It was recently announced that the Company has entered into an exclusive agreement with Stillwater Brands to license RIPPLE SC (Soluble Cannabinoids) ingredient technology, and other proprietary beverage and food technologies and formulations related to cannabinoid-infused consumer packaged goods including micro-dose and full-dose tea sticks within Canada and certain international jurisdictions outside of the USA. RIPPLE SC is a proprietary, patent-pending suite of low-calorie, fast-acting, water-soluble ingredient products that allows consumers or commercial manufacturers to simply and easily infuse cannabinoids into beverage and food products. RIPPLE SC has already proven its value in Colorado, where its consumer variant (marketed as Ripple Dissolvables) is among the fastest-growing products in the edibles category. RIPPLE SC technology also powers other high-end consumer brands such as Stillwater Tea and Whitewater Tea. "We believe that soluble cannabinoids and the consumer benefits they enable represent the future of functional foods," said Justin Singer, CEO of Stillwater Brands. "TGOD's emphasis on organic, high-quality consumer products makes the Company an ideal partner to carry our vision into the Canadian and international markets."
Cannabis Wheaton Income Corp. (OTCQB: CBWTF) is a collective of entrepreneurs with a passion for the cannabis industry past, present and future. Our mandate is to facilitate growth for our partners by providing them with financial support and sharing our collective industry experience. The Company recently announced that it has entered into a definitive licensing agreement with Dixie Brands, Inc. pursuant to which Cannabis Wheaton will have the exclusive license to Dixie's intellectual property, product branding and formulation methodologies related to over 100 cannabinoid-infused products in Canada and Mexico. Based in Denver, Colorado, Dixie specializes in developing intellectual property related to a variety of cannabinoid-infused products ranging from beverages to pet treat supplements. The Dixie IP has been used by third-party licensees to produce some of the cannabis industry's most innovative, safe, reliable and effective cannabis products, including premium cannabinoid-infused drinks, chocolate bars, mints, tinctures, balms and bath soaks. Chuck Smith, CEO of Dixie, stated, "This is an exciting time for Dixie. For nearly a decade, our team has worked passionately to develop safe, consistent, and innovative products under a brand that consumers have come to know and trust."
CannaRoyalty Corp. (OTCQX: CNNRF) is an active operator and investor in the global cannabis industry, with a strong focus on California, the world's largest cannabis market. The company recently announced that it has partnered with Posh Green Collective delivery, a California-based licensed cannabis delivery service. Posh Green's business model focuses on making the most innovative and premium products in the regulated market available to cannabis connoisseurs and local high-end clientele. Posh Green currently purchases products at wholesale from one of CannaRoyalty's distribution companies, Alta Supply and sells to retail delivery customers at a significant markup, demonstrating the large business opportunity for on-demand delivery businesses in California. As the state transitions to a full recreational adult-use market, the prospects for businesses focused on the sale and delivery of medical and recreational cannabis products is growing stronger.
Indoor Harvest Corp. (OTCQB: INQD) through its brand name Indoor Harvest®, is a technology company focused on enabling the production of biopharma grade cannabis for research and development of true pharma grade personalized medicines. The Company has a pending applicant under the Texas Compassionate Use Program and is planning to develop facilities in Arizona and Colorado. In August 2017, the Company completed a reverse triangular merger with Alamo CBD, exchanging 7,584,008 shares of Indoor Harvest's common stock, thus making Alamo CBD a wholly-owned subsidiary of the Company. Alamo CBD is a pending applicant to produce cannabis in Texas, placing 16th out of 43 applicants, under the Texas Compassionate Use Program. So far, three applicants have been awarded approvals to produce cannabis under the program. "We have our foot in the door with our pending application and have put into place some really great partnerships, both in science and technology. With the world's largest and most respected medical complex located in Houston, hosting both medical research and treatment facilities, the future of pharmaceutical development of cannabis in the state of Texas is quite promising," stated Dan Weadock, Indoor Harvest's Chief Executive Officer.
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