Global Medical Cannabis Value set to Grow as Legalization Efforts Continue
NEW YORK, August 29, 2018 /PRNewswire/ --
According to research published by Oristep Consulting, the global medical cannabis market was valued at USD 12.67 Billion in 2016 and will reach USD 33.41 Billion by 2022 while expanding at a CAGR of 17.53% during the forecast period. The two main cannabinoids from the cannabis plant are THC and CBD, both of which are used for medical purposes for various conditions including lack of appetite, nausea, pain, inflammation (swelling and redness), as well as muscle control problems. As for recreational cannabis products, the continued legalization across North America is pushing market value projections to new highs. On June 19th, Canada had legalized cannabis on a federal level. Additionally, earlier this year, California began legal sales of cannabis products for recreational use. California is currently the largest market. CLS Holdings USA Inc. (OTC: CLSH), MYM Nutraceuticals Inc. (OTC: MYMMF), Emblem Corp. (OTC: EMMBF), India Globalization Capital Inc. (NYSE: IGC), Vitality Biopharma Inc. (OTC: VBIO)
A report by CNBC quotes MedMen CEO and Co-Founder, Adam Bierman, who explains the current state of the industry, "There is so much excitement now around legalization nationally coming in Canada. There is so much excitement about the fact that California, Nevada, Maine and Massachusetts all legalized recreational marijuana. The Canadian public markets offer access to a lot of capital, with a lot of certainty and a lot of speed, and there is this appetite among global investors to invest in a U.S. play. Specifically, global investors want to invest in a U.S. play that has California exposure. Now is the time where it makes the most sense."
CLS Holdings USA Inc. (OTCQB: CLSH) earlier last week, announced breaking news that, "Matthew Janz has joined the Company as VP of Marketing and Director of Operations at Oasis Cannabis. Mr. Janz, previously the Regional Marketing Manager at Apothecarium, will lead the new marketing initiative programs at Oasis Cannabis, with a focus in digital marketing and social media engagement, and with attention to creative tact. He will orchestrate and implement all SEO, SEM, E-mail, Social, and AdWord work.
Matthew Ganz, VP of Marketing and Director of Operations at Oasis Cannabis, stated, "I am excited to be a part of the Oasis Cannabis team. My expertise of creating innovative marketing solutions has been very successful in the cannabis industry with consistent conversions and building long-term growth. I'm looking forward to continuing that work with Oasis and helping improve their visibility, awareness and market penetration in the Las Vegas market."
Jeff Binder, Chief Executive Officer of CLS, commented, "I am pleased to welcome Matt to our CLS and Oasis team. Given his previous success at Apothecarium, we are confident in his marketing abilities and believe he will make key improvements in our marketing strategy. We look forward to the increased visibility for Oasis as we look to expand the growth opportunities for Oasis and CLS."
About Oasis Cannabis (https://oasiscannabis.com ): Oasis Cannabis has operated a cannabis dispensary in the Las Vegas market since dispensaries first opened in Nevada in 2015 and has been recognized as one of the top marijuana retailers in the state. Its location within walking distance to the Las Vegas Strip and Downtown Las Vegas in combination with its delivery service to residents allows it to efficiently serve both locals and tourists in the Las Vegas area. The company recently commenced wholesale offerings of cannabis in Nevada with the launch of its City Trees brand of cannabis concentrates and cannabis-infused products in August 2017. An expansion of its cultivation and production facility is currently underway and is expected to be completed during the fourth quarter of 2018."
MYM Nutraceuticals Inc. (OTCQB: MYMMF) is an innovative company focused on acquiring Health Canada licenses to produce and sell high-end medicinal cannabis supplements and topical products. The Company recently announced that it has entered into a partnership with the University of Sherbrooke to study the medicinal and industrial uses of cannabis and hemp. Researchers at the University of Sherbrooke will work with an on-site coordinator to create partnerships by targeting expertise in various faculties and training centers. During cannabis prohibition, research on its compounds and by-products remained very limited. This partnership aims to explore the benefits of the cannabis plant. Avenues of collaboration range from identifying the best alternative energy systems in greenhouses to the effects of cannabinoids on the nervous and immune systems. Research will also include industrial materials manufacturing, eco-materials, hemp fiber biofuels and opportunities created from the by-products of cannabis production.
Emblem Corp. (OTCQX: EMMBF) is a fully integrated licensed producer and distributor of medical cannabis and cannabis derivatives in Canada under the ACMPR. Emblem has recently established a working capital advance for Natura Naturals Holdings Inc. to support the completion of phase 1 construction while the two Companies complete due diligence and negotiation of a definitive agreement in connection with the previously announced acquisition of Natura by Emblem. After the completion of phase 1 in 2018, Natura expects to achieve an annual run-rate of 15,000 kgs. Natura expects to have its first harvest early in Q4. Once completed in 2019, the facility is expected to bring total annualized cannabis production capacity to approximately 70,000 kg per year.
India Globalization Capital Inc. (NYSE: IGC) has two lines of business, a legacy infrastructure business and a cannabis pharmaceutical business that has developed a lead product for Alzheimer's patients. The Company has recently announced that it has designated California as a priority market for Hyalolex, its lead cannabis-based supplement for treating and managing Alzheimer's patients. IGC's management team has been actively meeting with California-based manufacturers and distributors to assemble the requisite combination of partners to efficiently bring Hyalolex to dispensaries, patients and caregivers in California. "The cannabis market is showing explosive growth and we are aggressively moving forward with our vision of owning and marketing the leading brands for large medical indications such as Alzheimer's, Parkinson's, PTSD, pain, veterinary medicine and cancer.
Vitality Biopharma Inc. (OTCQB: VBIO) is dedicated to unlocking the power of cannabinoids for the treatment of serious neurological and inflammatory disorders. Vitality recently announced that during a recent in vitro safety pharmacological screening study, its lead drug candidate VBX-100 demonstrated no signs of adverse pharmacological effects, affirming its potential for widespread clinical use as a GI-targeted prodrug of THC. As a GI-targeted prodrug of THC, VBX-100 is intended to be functionally inert after ingestion and until it is activated in the lower gastrointestinal tract. Once the VBX-100 prodrug releases THC, it can exert therapeutic effects and data indicates there is minimal systemic absorption. As a result, there is minimal entry of THC into the bloodstream or brain, avoiding psychoactivity, while also avoiding the adverse systemic effects of currently marketed immunosuppressants.
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