Cannabis Retail Sales are Expected to Expand as CBD-Infused Beverage Appeal Grows
NEW YORK, October 30, 2018 /PRNewswire/ --
According to a research report provided by Marijuana Business Daily, cannabis retail sales continued to grow year-over-year as new markets appeared and more states legalized medical and recreational cannabis products. Sales in 2018 are expected to increase by approximately 50% when compared to 2017. Additionally, sales value is on track to reach USD 8 Billion - USD 10 Billion by the end of this year. The report also indicated that by 2022, annual retail cannabis sales in the United States could surpass the USD 20 Billion mark, a 200% increase from 2017. As for the economic impact that the growing industry is set to have, the data predicts an estimated USD 28 Billion - USD 34 Billion of economic impact in 2018. American Premium Water Corporation (OTC: HIPH), Cronos Group Inc. (NASDAQ: CRON), Terra Tech Corp. (OTC: TRTC), Aleafia Health Inc. (OTC: ALEAF), Freedom Leaf Inc. (OTC: FRLF)
The increasing popularity of cannabidiol (CBD) oil products is one of the primary growth factors for the market. A major segment of the CBD market is represented by cannabis-infused beverages. This segment is expected to grow rapidly after mainstream beverage companies showed interests in the cannabis-infused drinks. According to Business Insider, analysts at Canaccord Genuity expect that the U.S. cannabis-infused beverages market could reach USD 600 Million in the next four years. Canaccord's Bobby Burleson and Jonathan DeCourcey wrote in a note: "While these trends represent a significant opportunity for US cannabis companies, they have not gone unnoticed by large mainstream beverage players looking to inject growth into their product portfolio."
American Premium Water Corporation (OTC: HIPH) yesterday announced breaking news that, "it has entered into an agreement with Canna Nano (http://www.cannanano.com ) regarding a prestigious collaboration to produce nano-infused cannabidiol (CBD) water. The Company will begin selling this product through all its distribution channels. In addition, the Company is in advanced discussions with Canna Nano regarding a long-term partnership, including potential acquisition structures of Canna Nano by the Company.
'I am excited to announce this collaboration with Canna Nano. Their brand aligns with American Premium's LALPINA brand. This collaboration we have created opens doors for both companies and sets the stage to open many more together down the road. Canna Nano is a great brand, and I am excited to be working with Ed and his team as we begin launching marketing and co-branding opportunities for this product,' commented American Premium CEO Ryan Fishoff.
'We are really stoked to be working with LALPINA and American Premium Water. This "prestigious" collaboration aligns Canna Nano with the great lifestyle brand LALPINA. The brand (LALPINA) encapsulates many of the core principles of Canna Nano, and I am very proud of the collaboration we have created here. There are so many possibilities that we can accomplish working with the two brands. I am really excited about the exposure that will be created and lead to additional distribution. I see this as the first step in a longer-term partnership between the companies,' stated Ed Serafin, founder of Canna Nano.
Canna Nano is based in Huntington Beach, California. Currently, the company manufactures, markets and distributes a variety of cannabis and CBD-infused products under its Canna Nano label as well as other brands, including CBD-infused creams, pipes, vaporizers and other related devices. Canna Nano currently has distribution online and in eight states: Arizona, California, Georgia, Louisiana, Kansas, Maryland, Nevada and New Jersey.
'Canna Nano has a robust distribution network across the country, and it will complement the geographic focus markets American Premium is in the process of building out. This collaboration is just the first step in the Company's growth strategy, including the development of more CBD- and THC-infused beverages. This collaboration will not only generate revenue for the Company, but it will also streamline our fulfillment, optimizing for a high level of efficiency for our customers. Canna Nano will be an instrumental part of our strategy going forward from a distribution and acquisition perspective. In addition to the discussions I have previously mentioned, we have been in talks with them for many months about a long-term partnership, and I am optimistic a structure will be created that will benefit both companies for the long term. As things develop and progress, I look forward to providing updates to the Company's shareholders,' added Mr. Fishoff."
Cronos Group Inc. (NASDAQ: CRON) recently announced that it has entered into a sponsored research agreement with the Technion Research and Development Foundation of the Technion - Israel Institute of Technology, to explore the use of cannabinoids and their role in regulating skin health and skin disorders. The preclinical studies will be conducted by Technion over a three-year period and will focus on three skin conditions: acne, psoriasis and skin repair. "We believe that the potential applications of cannabinoids to regulate skin health and treat skin disorders are vast, and we are excited to begin exploring these applications through our partnership with Technion," said Mike Gorenstein, Chief Executive Officer of Cronos Group. "Using rigorous data to develop efficacious topical and transdermal formulations will be key to creating differentiated products that provide quality treatments to our consumers and strengthen our brand portfolio."
Terra Tech Corp. (OTCQX: TRTC) is a vertically integrated cannabis-focused agriculture company. Recently, the Company announced it has completed its previously announced sale of 100% of the assets of its cannabis dispensary located at 1921 Western Avenue in Las Vegas, to Exhale Brands Nevada, for a total consideration of USD 6,250,000. The Company plans to use the proceeds from the sale to further develop its retail dispensary capabilities in new locations that have better proximity to major tourist attractions in Las Vegas. The Company already has a strong footprint in Nevada. It currently operates its Bluem, Desert Inn Road and Bluem, Decatur Boulevard dispensaries, both of which are located in Las Vegas, as well as its Bluem Reno dispensary, in Northwest Nevada. The Company also recently purchased a retail property in downtown Las Vegas, located at 121 North Fourth Street, which it plans to convert into a Bluem retail dispensary. As owners of medical and adult-use cannabis business licenses in Las Vegas associated with these dispensaries, Terra Tech has the ability to apply for additional licenses based on its grandfather status. The Company also has two pending applications for additional retail permits in Las Vegas.
Aleafia Health Inc. (OTCQX: ALEAF) is a vertically integrated, national cannabis company with major medical clinic, cannabis cultivation and R&D operations. Aleafia Health Inc. recently announced that it is formally launching a research, development and innovation division to be called Aleafia Labs. Aleafia Labs will leverage the Company's existing patient database and intellectual property to advance the development of proprietary cannabis products. R&D activities will focus on the development of cannabis products that may act as a replacement for addictive prescription opioids and sleeping aids. "Aleafia is uniquely positioned to develop intellectual property and commercial products following a data-driven approach," said President of Clinic Operations, Dr. Gary Goodyear. "While the relationship most cannabis companies have with their patients ends at the point of sale, our physicians closely monitor and track a patient's progress throughout the entire treatment cycle. This unique data will lead to the development of innovative cannabis products."
Freedom Leaf Inc. (OTCQB: FRLF) is a group of diversified, international, vertically-integrated hemp businesses concentrating on health, wellness, and education as well as cannabis media companies. Freedom Leaf Inc. recently announced that it has received a significant investment from cannabis private equity firm Merida Capital Partners to further expand its existing U.S. sales channels and accelerate its European hemp cultivation operations. Freedom Leaf and Merida have also agreed in principle to a strategic partnership by which Merida will provide certain operational resources and support for both Freedom Leaf's US hemp-based cannabidiol (CBD) sales efforts and their global cultivation operations. In connection with Merida's investment, Merida Senior Partner David Goldburg will be joining the Freedom Leaf Board of Directors. Clifford Perry, Chief Executive Officer of Freedom Leaf, commented on the investment and partnership, "Receiving an investment from a leading cannabis firm like Merida, which already has investments in key supply chain providers like KushCo, GrowGeneration and Emerald Scientific, should drive our US expansion and ensure we are building our CBD production business efficiently, while also giving us incredible support in our global expansion."
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