Cannabis Legalization is Expected to Ramp Up Job Creation
NEW YORK, June 14, 2018 /PRNewswire/ --
According to data published by Ameri Research Inc., the global legal cannabis market was valued at USD 14.3 Billion in 2016 and is estimated to reach USD 63.5 Billion by 2024, growing at a CAGR of 21.1% during the forecast period. The cannabis market is experiencing a period of strong development due to increasing legalization and decriminalization of cannabis products across North America. The report also clarifies that legalization movements are succeeding in changing policies beyond the U.S. region. Arcview Market Research explains that growth of the legal cannabis industry is expected to re-accelerate in 2018, as adult-use sales ramp up in Canada, California, and Massachusetts along with first time medical sales in Florida. Khiron Life Sciences Corp. (OTC:KHRNF), Auxly Cannabis Group Inc. (OTC:CBWTF), MPX Bioceutical Corp. (OTC:MPXEF), mCig, Inc. (OTC:MCIG), Liberty Health Sciences Inc. (OTC:LHSIF)
Recent legislative victories for the cannabis industry are expected to have a highly positive impact on the economy. In states like California, for example, where new recreational cannabis laws went into effect on January 1st, 2018, the Arcview Group analysis is projecting that nearly 99,000 cannabis industry jobs will be created by 2021, about a third of all cannabis jobs nationwide, and 146,000 jobs overall when indirect and induced effects are considered. Troy Dayton, CEO of The Arcview Group explained, "The economic excitement around the legal cannabis industry is no longer just theory. Due to the giant impact adult-use legalization is already having in the United States, it's vital for key stakeholders to understand the full impact of legalization, beyond just retail sales numbers."
Khiron Life Sciences Corp. (OTC: KHRNF) also listed on the TSX Venture Exchange under the ticker (TSX-V: KHRN). Earlier today the company announced breaking news that it, "has formed an exclusive strategic alliance with Latin American Institute of Neurology and the Nervous System ("ILANS"), one of the most respected, fastest growing, and largest health service provider networks in Colombia and Latin America. ILANS represents an estimated 100,000 patients, with the majority of these patients being located in Colombia.
Alvaro Torres, Chief Executive Officer of Khiron, stated, "This exclusive strategic alliance with ILANS represents a significant increase in the size of the potential patient base for Khiron. From the beginning, Khiron's core focus has been to address the medical needs of patients by supplying high-grade medical cannabis products and forming strategic alliances to build and educate our patient base with the objective of developing and scaling recurring revenue streams.
In combination with the recently announced alliances with the Colombian Association of Internal Medicine (ACMI) and the Colombian Association of Neurology (ACN), we conservatively estimate that our distribution network can access over 500,000 patients, or 9% of the addressable 5.6 million total potential patients in Colombia (source: QuintilesIMS). We will continue to rapidly expand our patient network through these alliances and will evaluate further cultivation and production expansion based on the greater than initially forecasted market demand."
Commercial Terms - The alliance provides for research, technological product development, and evaluation and commercialization of products related to all aspects of medical cannabis. Key commercial elements of the alliance with ILANS include:
- Collaborative research projects, consultancies, and advice on medical, pharmacological and educational processes related to psychoactive and non-psychoactive medical cannabis.
- Referral arrangements for treatment of patients with chronic pain, epilepsy, post-chemotherapy nausea, sleep disorders, Parkinson's disease, Tourette's syndrome, and multiple sclerosis. The parties will also evaluate programs for additional diseases or pathologies.
- Sale and supply agreements for medical grade cannabis for patients by Khiron.
- ILANS has provided Khiron an exclusivity for eight years. The parties will have mutual access and ownership of all intellectual property created.
Liquidity Service Providers - The Company has retained Trapeze Capital Corp. ("Trapeze") and Integral Wealth Securities Limited ("Integral") both of Toronto, Canada to provide market-making services in accordance with the policies of the TSX Venture Exchange ("TSX-V"). Under the terms of their agreements, Trapeze and Integral will each receive cash compensation of $5,500 per month and will not receive any common shares or options of Khiron. Trapeze and Integral do not own any securities of Khiron. However, Trapeze and Integral and their clients may acquire a direct interest in the securities of Khiron. The parties are unrelated and unaffiliated entities. Trapeze and Integral are members of the Investment Industry Regulatory Organization of Canada, participating organizations of the Toronto Stock Exchange and members of TSX-V. The capital and securities required for any trade undertaken by Trapeze and Integral as principals will be provided by Trapeze and Integral. The agreement with Trapeze is for an initial term of 180 days, with automatic renewals for a further 180 days unless terminated. The agreement with Integral is for an initial term of 90 days."
Auxly Cannabis Group Inc. (OTCQB: CBWTF) on May 14, 2018, the company, (previously known as Cannabis Wheaton) announced that it has entered into a definitive licensing agreement with Dixie Brands, Inc. pursuant to which Auxly 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. Since the founding of the brand in 2009 Dixie has emerged as a leader in the U.S. cannabis industry through its quality products and education and advocacy initiatives. 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.
MPX Bioceutical Corp. (OTCQB: MPXEF) is a multi-state diversified cannabis company with operations focused in the U.S. in the adult use and medical cannabis markets. MPX Bioceutical Corporation announced on June 11th, 2018 that it has successfully completed the acquisition of 100% of the issued and outstanding shares of Canveda, as previously announced on April 17, 2018. Canveda is a Licensed Producer under Health Canada's Access to Cannabis for Medical Purposes Regulations having received its Cultivation License on June 12, 2017. Canveda's fully built-out 12,000 square foot facility, located in Peterborough, Ontario, is ready to commence its first production run and is capable of producing 1,000-1,200 kilograms of high quality cannabis flower annually. "With the acquisition of Canveda, MPX has established a foothold in Canada to develop a vertically integrated business from seed to sale," said Michael Arnkvarn, Executive Vice-President and Chief Marketing Officer. "The next phase will be to expand our relationship with Panaxia, a leader in the utilization of medical cannabis in pharmaceutical solutions, to include Canada and to finalize strategic alignments with existing marijuana business enterprises that will shorten our path to a sustainable and profitable Canadian presence."
mCig, Inc. (OTC: MCIG) is a diversified company servicing the legal cannabis, hemp and CBD markets. The Company recently provided an update on its 40-acre industrial hemp project in New York. This spring, NYAcres propagated 80,000 industrial hemp seeds with FarmOn! Foundation in Copake, NY, projecting 55,000 pounds of processable flower for CBD extraction. The Company plans to sell it as an ingredient for white label products demanding hemp oil and promoting its benefits. NYAcres is currently planting 40 acres of industrial hemp outdoors in certified organic fields focused on two varieties of CBD concentrated organic seed strains: Cherry Wine, and Berry Blossom, which yield 12-15 percent CBD concentration. These feminized-only seed strains are both 100% hemp and 100% organic and are registered with the Department of Agriculture. The U.S. Senate, without objection from any lawmaker of either party, adopted legislation on Tuesday recognizing "the growing economic potential of industrial hemp" as well as its "historical relevance." mCig CEO, Paul Rosenberg agrees strongly with the President of Vote Hemp Eric Steenstra's statement of praise, "We applaud Leader McConnell and Senator Wyden for acknowledging the fast-growing hemp industry during Hemp History Week. Their resolution highlights the need to pass the Hemp Farming Act and remove barriers facing farmers and businesses."
Liberty Health Sciences Inc. (OTCQX: LHSIF) is an investor and operator in the medical cannabis market, capitalizing on new and existing opportunities in U.S. where medical cannabis is legal. The Company recently announced the opening of its Cannabis Education Center, in Port St. Lucie, Florida. This is Liberty's fourth CEC to open in the state this year and advances the Company's mission to provide Florida's residents with convenient access to high-quality medical cannabis and patient-focused educational resources. Liberty's CEC is the first medical cannabis dispensary to open in Port St. Lucie, which is home to approximately 185,000 residents. "Liberty is proud to open Port St. Lucie's first dispensary as we continue to expand our network of patient-centric Cannabis Education Centers throughout Florida," said George Scorsis, Director and CEO of Liberty. "This is our fourth CEC to open its doors within the last five months, reflecting Liberty's commitment to advance our aggressive growth strategy to serve all of Florida's patients in need. The Port St. Lucie location is ideally situated to provide patients in the area with convenient access to our expanding portfolio of high-quality brands and products and the dedicated support of our Patient Care team."
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