Sales Projections for Legal Cannabis Products Stay Positive
NEW YORK, December 27, 2017 /PRNewswire/ --
According to a report by New Frontier Data, the legal cannabis market was worth $6.6 billion in 2016 and is forecast to grow to $24.1 billion by 2025, registering a compound annual growth rate of 16 percent. By segment, the medical cannabis market was worth $4.7 billion in 2016 and is expected to grow to $13.3 billion by 2025. Recreational cannabis sales during the same period are projected to grow at a 21 percent CAGR, from $1.9 billion to $10.9 billion. The medical applications of cannabis products are growing in popularity, as they can be applied for various medical conditions. The report indicates that chronic pain, sleep disorders, post-traumatic stress disorder (PTSD), nerve pain, anxiety, glaucoma, chemotherapy induced nausea and vomiting (CINV), Tourette syndrome, and seizures/epilepsy, are conditions appointed by the National Academies of Sciences as being best treated by medical cannabis. Micron Waste Technologies Inc. (OTC: MICWF), Aurora Cannabis Inc. (OTC: ACBFF), Kush Bottles, Inc. (OTC: KSHB), American Cannabis Company, Inc. (OTC: AMMJ), Cannabis Wheaton Income Corp. (OTC: CBWTF)
State budget deficits may be solved as cannabis revenue could raise a substantial amount and provide state leaders with increased capacity in their budgets. New Frontier Data CEO Giadha Aguirre De Carcer said, "During this tough economy states are looking for any way to close their budget shortfalls and it appears that cannabis may hold an answer for them. New Frontier Data looked at the potential revenues that could be generated from state cannabis taxes and found that in this year alone, states could raise nearly $750 million and triple that number by 2020. These revenues will have a meaningful impact on state programs and provide governors with much needed breathing room in their budgets."
Micron Waste Technologies Inc. (OTC: MICWF) also listed on the Canadian Stock Exchange under the Ticker 'MWM'. On December 19th Micron, together with Aurora Cannabis Inc. (TSX: ACB) (OTCQB: ACBFF) announced, "The companies have signed a non-binding term sheet for Aurora to make a strategic investment in Micron, and for both companies to collaborate on the optimization of Micron's technology for the treatment of organic waste generated in the cultivation and production of cannabis products.
Micron has developed a new technology, based on aerobic digestion and subsequent treatment that converts organic waste into clean water that meets municipal effluent discharge standards. The effluent from currently available digester-based treatment systems of organic waste does not meet municipal discharge standards and requires costly further treatment. Many generators of organic waste elect, instead, to use municipal landfill sites for their organic waste, which is costly and has a negative impact on the environment. The merits of Micron's technology have been successfully demonstrated with a grocery supermarket chain located in British Columbia, Canada, and Micron has entered into an Memorandum of Understanding with the group to plan for additional installation of Micron's organic waste digester units at other locations in BC.
Under the terms of the agreement, which the companies anticipate finalizing soon, Micron will install its technology at one of Aurora's cultivation facilities, where both companies will work on optimizing Micron's digester technology to deliver a commercially-ready design specifically for the cannabis industry...Aurora shall have the option, upon successful completion of the optimization program and proven viability, to sign a definitive supply agreement with Micron for the purchase of Micron`s organic waste digestion solution for each of its cultivation facilities at a preferred pricing structure...In consideration of Aurora's participation in the optimization process, and pursuant to the terms of a royalty agreement to be entered into between the parties, Micron shall pay to Aurora a royalty equal to 4% of gross revenues generated by Micron from the sale, lease and/or support services agreement pertaining to digesters sold to companies in the business of cultivating or processing cannabis. Micron shall retain all intellectual property pertaining to its digestion system.
Under the terms of the agreement, once finalized, Aurora will have the right to subscribe for up to 6,000,000 shares of Micron at a subscription price of $0.34 per share for aggregate subscription proceeds of $2,040,000 million in accordance with the terms and conditions of a subscription agreement to be entered into among the parties, representing a 9% interest in the Corporation on a non-diluted basis immediately post-investment. Upon the first successful sale of a digester within the cannabis industry, Micron shall issue a further 2 million shares to Aurora... Aurora shall have the right to participate in any future offerings of equity or debt convertible into equity of Micron to allow Aurora not to be diluted in its ownership interest of Micron."
Rav Mlait, CEO of Micron, added, "We are delighted to partner with the cannabis industry's innovation leader and enter the remarkably dynamic, fast-growing cannabis sector. Furthermore, Aurora's investment provides additional funds to accelerate diversification into other sectors, such as supermarkets, quick-serve restaurants, agricultural operations and hotels, which are all faced with high organic waste disposal costs. While our goal has always been to deliver solutions that have a positive impact on the environment, the only way to truly make a difference is by having a value proposition that provides a strong commercial rationale for adoption. We have proven that we have such a solution through our demonstration project in Richmond, BC, and are well positioned to execute on our aggressive growth strategy."
Aurora Cannabis Inc. (OTCQX: ACBFF) is one of 35 licensed producers across Canada and the only one located in Alberta. On December 19, 2017, the company and Micron Waste Technologies Inc. announced that the companies have signed a non-binding term sheet for Aurora to make a strategic investment in Micron, and for both companies to collaborate on the optimization of Micron's technology for the treatment of organic waste generated in the cultivation and production of cannabis products. Micron has developed a new technology, based on aerobic digestion and subsequent treatment that converts organic waste into clean water that meets municipal effluent discharge standards.
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. Founded in 2010 as a packaging and supplies company for dispensaries and growers, Kush Bottles has sold more than 100 million units and now regularly services more than 4,000 legally operated medical and adult-use dispensaries, growers, and producers across North America, South America, and Europe. The company has facilities in the three largest U.S. cannabis markets and a local sales presence in every major U.S. cannabis market. On November 28, 2017, the company reported financial results for its fiscal year ended August 31, 2017. Revenue was up 129% Year-over-Year to $18.8 million; revenues included four months of sales from CMP Wellness which was acquired on May 1, 2017.
American Cannabis Company, Inc. (OTCQB: AMMJ) offers end-to-end solutions to existing and aspiring participants in the cannabis industry. On September 28, 2017, the company announced that its active client in New Brunswick has successfully submitted application materials and supporting documents for the purpose of acquiring business licenses to operate within the newly founded medical cannabis program that is to be regulated by the province and the Canadian government. This client will be constructing a custom 63,000 square foot warehouse featuring state-of-the-art cultivation and extraction technologies with a focus on lean manufacturing principles. ACC's client will also be placing a 50,000 square foot greenhouse on the roof of the warehouse, expanding the firm's overall output potential as they look to service the demand of the medical market as well as ramp-up and prepare for licensure and sales for Canada's upcoming 2018 recreational market.
Cannabis Wheaton Income Corp. (OTCQB: CBWTF) is a collective of entrepreneurs with a passion for the cannabis industry past, present and future. On December 21, 2017, the company announces that it has entered into a letter of intent with FV Pharma Inc., a licensed producer pursuant to the ACMPR having received its cultivation license on October 13, 2017. Under the terms of the agreement, the Company will develop all aspects of FV's cannabis cultivation facility in mutually agreed staged phases, creating the largest indoor cannabis cultivation and processing facility in the world. The FV Pharma state-of-the-art facility hosts an existing 620,000 square feet of building space and is famously known as the former KRAFT(R) food manufacturing facility. The Facility is ideally situated only one hour east of Toronto in Cobourg, Ontario, off of the 401 highway and has access by car or rail to Ottawa and Montreal.
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