The Growth in Legalized Cannabis States
NEW YORK, December 29, 2017 /PRNewswire/ --
According to a report by Ameri Research Inc., the global legal cannabis market is forecast to be valued at $63.5 billion by 2024, growing at a CAGR of 21.1% between 2017 to 2024. The market is going through a period of strong growth thanks to increasing legalization and decriminalization of cannabis products across North America and Europe. In the U.S, there are 28 states which have approved the use of cannabis for medical purposes. In major markets like Colorado, California, Alaska, Massachusetts and Nevada cannabis is also legal for recreational use. Earlier this year, the Canadian prime minister has introduced a bill to legalize cannabis for recreational use. The report indicates that the proposed bill mandates the legal age for consumption of cannabis at 18 years, and it provides clarity on the federal and state laws regarding the regulations on cultivation, storage and distribution of cannabis across the country. FinCanna Capital Corp. (CSE: CALI), Cannabis Wheaton Income Corp. (OTC: CBWTF), Liberty Leaf Holdings Ltd. (OTC: LIBFF), Friday Night Inc. (OTC: TGIFF), Future Farm Technologies Inc. (OTC: FFRMF)
The state of California alone is expected to play a significant role in the development of the industry. A report published by New Frontier Data projects that legal cannabis sales in California will reach $2.8 billion in 2017 and $6.6 billion by 2025, with a compound annual growth rate of 12% over the next eight years. Giadha Aguirre de Carcer, New Frontier Data CEO explained, "Significant changes are already underway in California for medical cannabis and adult use laws, which we see will have major implications for the cannabis industry, including ecommerce and delivery services in the state... As the largest state in the country - and the largest potential market for cannabis products - the implications for the growth of the industry because of California's adult use market cannot be overstated."
FinCanna Capital Corp. (CSE: CALI) today announced that it will commence trading on the Canadian Securities Exchange under the trading symbol "CALI". The company announced breaking news that, "FinCanna is supporting the greater medical use of cannabis while benefitting from the growth in the market by investing in top-tier licensed medical cannabis companies in California. In exchange for financing, FinCanna will receive royalties from these licensed medical cannabis and related operations.
To date, FinCanna has completed approximately $14M CDN in financing to support its flagship investment in Cultivation Technologies ("CTI"). Based in Irvine, California, CTI is developing a very significant, state-of-the-art medical cannabis project and has already secured permits to construct a fully-entitled, 111,500 sf. permitted medical cannabis facility on a six-acre property in Coachella, Southern California.
Andriyko Herchak, CEO & Director, states, "We are very excited to apart of the growing industry of medicinal cannabis and our public listing offers investors increasing access to growing cannabis operations in the United States, particularly California. While the legalization of recreational Cannabis is highly anticipated in California, we remain focused on our core competency of sourcing and financing ethical, medicinal and regulated cannabis businesses to leverage the paradigm shift in the industry."
FinCanna is initially focused on California since it is the sixth largest economy in the world and the largest medical cannabis market in North America. Analysts estimate the State's legal cannabis industry will grow at a 21.1% CAGR to $6.5 billion by 2020, and generate upwards of $1 billion in tax revenue. New laws that come into effect in January 2018 are expected to significantly change existing supply and demand dynamics."
Cannabis Wheaton Income Corp. (OTCQB: CBWTF) is the first cannabis streaming company in the world. Earlier this year, the company announced that it has entered an exclusive distribution alliance with the corporate owner of a national chain of independent pharmacies to develop and implement medical cannabis distribution and retail sale opportunities at all Pharmacy Group locations. Hugo Alves, President of Cannabis Wheaton stated, "We have been closely monitoring how the distribution of cannabis will play out in each of the individual provinces in Canada and how those provincial distribution systems may impact our streaming partners and our production yield allocations. Our goal is to ensure that Cannabis Wheaton and its streaming partners have opportunities to participate in distribution channels which allow them to maintain contact with customers and capture a portion of the retail margin from sales to those customers."
Liberty Leaf Holdings Ltd. (OTCQB: LIBFF) is a new Canadian-based, public company whose focus is to build and support a diversified portfolio of cannabis-sector businesses, including cultivation, processing, value-added CBD/THC pet products, and supply-chain products within this dynamic and fast-growing sector. On December 7, 2017, the company announced it has acquired a majority interest in Just Kush Enterprises, a company in the final stages of obtaining an Access to Cannabis for Medical Purposes Regulations (ACMPR) licence. As well, Just Kush owns complete control over a current Medical Marijuana Access Regulations (MMAR)-licensed production facility.
Friday Night Inc. (OTCQB: TGIFF) is a Canadian public company, which owns and controls cannabis and hemp based assets in Las Vegas Nevada. The company owns 91% of Alternative Medicine Association, LC (AMA), a licensed medical and adult-use cannabis cultivation and production facility that produces its own line of unique cannabis-based products and manufactures other third-party brands. Infused MFG, also a 91% owned subsidiary, produces hemp-based, CBD products, thoughtfully crafted of high quality organic botanical ingredients. FridayNight Inc. is focused on strengthening and expanding these operations within and outside of the state. Recently, the company and Body & Mind Inc. announced an all-stock acquisition valuing BAM at approximately CAD $115,000,000 based on the recent closing price of Friday Night.
Future Farm Technologies Inc. (OTCQB: FFRMF) is a Canadian company with projects throughout North America including California, Florida and Maryland. The Company's business model includes developing and acquiring technologies that will position it as a leader in the evolution of Controlled Environment Agriculture (CEA) for the global production of various types of plants, with a focus on cannabis. On December 21, 2017, the company announced it has signed a lease agreement for 100-acres in Maine, thereby doubling its previously announced purchase of 120-acres of a licensed industrial hemp farm. As part of the lease agreement, the Company has an option to lease up to an additional 1,000-acres from the Landlord. The Company also announces that it is preparing to set up a hemp cloning operation, which will use vertical farming technology pioneered by the Company to supply over 200,000 clones to the farm in 2018.
Subscribe Now! Watch us report from NYSE 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
About FinancialBuzz.com
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.
Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the 'Site') is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For this release, FinancialBuzz.com expects to be compensated five thousand dollars for financial news dissemination and PR services by fincanna capital corp. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.financialbuzz.com.
Media Contact:
info@financialbuzz.com
+1-877-601-1879
Url: http://www.FinancialBuzz.com
SOURCE FinancialBuzz.com
