Emerging Business Opportunities Dramatically Increase as Canadian Cannabis Market Swells
PALM BEACH, Florida, November 1, 2018 /PRNewswire/ --
Financialnewsmedia.com News Commentary
The Canadian Cannabis industry is unsurprisingly on fire as it rides the wave provided by full-recreational legalization. Consumers have already dumped millions into the burgeoning marijuana economy to the north of the US border, and the growth is only forecasted to continue. According to a Brookings Institute Study, the market is projected to generate over $4 billion in sales revenue in just the first year. This has led to elevated competition levels in the Canadian cannabis market, forcing companies to expand operations in order to maintain their share of the market. Canada is the first G20 nation in the world to fully legalize cannabis and the implications are enormous as well as strong revenue generating opportunities. Active cannabis companies in the markets this week include PotNetwork Holdings, Inc. (OTC:POTN), Terra Tech Corp. (OTC:TRTC), Aphria Inc. (TSX:APH) (OTC:APHQF), Liberty Health Sciences Inc. (CSE:LHS) (OTC:LHSIF), MariMed Inc. (OTC:MRMD).
PotNetwork Holdings, Inc. (OTCPK:POTN) BREAKING NEWS: PotNetwork Holdings announced today that it is preparing to list its common stock on the Canadian Securities Exchange ("CSE") operated by CNSX Markets Inc. The Company has engaged Canadian securities counsel to assist with the listing process. A CSE listing will allow the Company's common stock to be dual listed in both U.S. and Canada.
The application for a listing on the CSE will follow the Company's transition to becoming a fully reporting Company with the SEC once its recent Form 10 filing becomes effective. The Company also intends to complete an uplisting to the OTCQB market tier on OTC Markets.
Kevin Hagen, CEO, stated, "Public attitudes around the world towards CBD are shifting as a result of people and regulators understanding the benefits of CBD. Cannabis-based products, in general, are experiencing explosive growth and we have begun an aggressive expansion of our business to further drive the growth of the Company into 2019. Integral to that expansion, is our decision that the time is right to list our stock on the Canadian market. The CSE already lists many companies in our industry, making this move an extremely logical choice that we believe will significantly benefit both the Company and its shareholders, across two countries instead of one." Read this and more news for POTN at: http://www.financialnewsmedia.com/news-potn
Other recent developments in the cannabis industry include and companies on watch:
Terra Tech Corp. (OTCQX:TRTC) recently 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 $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 has two pending applications for additional retail permits in Las Vegas.
Aphria Inc. (TSX:APH.TO) (OTCQB:APHQF) recently announced it officially introduced Dr. Jonathan Simone , PhD as the Company's Director of Research and Clinical Studies. Dr. Simone joined Aphria in July 2018 and serves as the primary liaison between the Company's science, technical and medical division teams and outside medical, academic and clinical centers. He is also spearheading Aphria's participation in various clinical studies. "As the post-legalization era unfolds, Aphria remains committed to supporting our patients and the advancement of medical cannabis around the world through much-needed clinical research studies," said Vic Neufeld, Chief Executive Officer of Aphria. "Jonathan is a rising star in the medical cannabis research community and we are pleased to welcome him to the Aphria family. He is uniquely qualified to accelerate Aphria's support for and participation in medical cannabis clinical research to further the Company's continued global leadership in medical cannabis."
Liberty Health Sciences Inc. (CSE:LHS.CN) (OTCQX:LHSIF) recently announced the planned opening this week of three of its newest Cannabis Education Center (CEC) dispensaries in Winter Haven, FL; Palm Harbor, FL, and Merritt Island, FL featuring free 24-hour delivery service throughout Florida. Opening for the Palm Harbor and Merritt Island locations are subject to DOH approval. The new dispensaries are located at 31486 US Highway 19 North, Palm Harbor, FL; 1285 1st Street, Winter Haven, FL, and 150 East Merritt Island Causeway, Merritt Island, FL. The dispensaries are open Monday through Friday, 10 a.m. to 7p.m., Saturday, 10 a.m. to 5 p.m., and Sunday 12 p.m. to 5 p.m. Currently, Liberty operates four dispensaries and six delivery hubs with 24-hour delivery to any resident in the state.
MariMed Inc. (OTCQB:MRMD) earlier this week announced it has finalized the acquisition of BSC Group, a highly respected cannabis firm headquartered in New Jersey that over the last three years has been engaged in competitive licensing, consulting and operations management across the country. BSC founders and managing partners, Brian Staffa and Amber Staffa, will join the MariMed leadership team, bringing under the MariMed umbrella their extensive cannabis expertise, resources, intellectual property and a vast network of highly specialized affiliates spanning regulated fields of commercial cannabis, food and beverage, commercial agriculture, pharmaceuticals, regulatory compliance, consumer psychology, and the applied sciences. Brian and Amber will help guide MariMed's strategy for new markets like New Jersey, where lawmakers inch closer to consensus on adult use legislation. New Jersey represents just one of the markets being eyed by MariMed as they aggressively pursue new opportunities across the U.S. and abroad with their added bandwidth.
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