According to research by the European investment bank Bryan, Garnier & Co., the legal global cannabis market is projected to grow more than 1,000% over the next decade and could reach USD 140 billion by 2027. Arcview Market indicated in a report that while California gets the media attention and Canada gets the investment dollars as the country expects to legalize cannabis for recreational use, it is the recent changes in European countries that are seen to be the big news of 2017, from a worldwide perspective. Germany’s move to make cannabis flower available for medicinal use in pharmacies is just one such example. Crop Infrastructure Corp. (OTC:CRXPF), Medical Marijuana, Inc. (OTC:MJNA), iAnthus Capital Holdings, Inc. (OTC:ITHUF), Terra Tech Corp. (OTC TRTC), Hiku Brands Company Ltd. (OTC:DJACF)
In the U.S, the potential financial benefits from legalization are important economically and politically. In a report by Benzinga, Viridian Capital President Scott Greiper points out that the cannabis market received USD 1.23 billion in investments in the first five weeks of 2018, up from USD 178 million a year earlier. Viridian Capital Advisors’ Vice President Harrison Phillips explained: “Investments in cultivation and retail this year have been driven predominantly by the Canadian player. This has been happening pretty consistently from late 2016 through 2017. This reflects the necessity to scale cannabis businesses, to get some kind of advantage, and to explore strategic opportunities, both through acquisitions and international expansion.”
Crop Infrastructure Corp. (OTC:CRXPF) also listed on the Canadian Securities Exchange under the Ticker (CNSX:CROP.CN). Last week the company announced that it, “has appointed David Weinkauf to the executive advisory board. Crop Infrastructure’s chief executive officer, Michael Yorke, stated: “We are very pleased to have David join the Crop advisory board at this active and exciting time for the company and the cannabis industry. David’s extensive real estate development experience will help guide Crop as we aggressively pursue the expansion of our operations portfolio globally.”
Throughout Mr. Weinkauf’s real estate career, he was involved in approximately $3-billion in transactions while developing around 3,000 acres of real estate. Mr. Weinkauf was recognized as Calgary’s top 40 under 40 in 2004 and was nominated for Canada’s top 40 under 40 in 2006 after graduating from the University of Calgary in 1993 with a bachelor of commerce focused on marketing and finance. Mr. Weinkauf’s volunteer work has been extensive, including sitting as a member of the board of directors of Children’s Wish Foundation of Alberta and the Northwest Territories and sitting as adviser to the president of the advisory committee to Calgary Economic Development.
Mr. Weinkauf commented: “As an entrepreneur at heart, with my first successful incorporated business at age 21, my life’s work has been growing small firms into bigger companies, working to promote good people and good products while having fun and success along the way. I look forward to providing my knowledge of real estate and my background in start-ups to Crop infrastructure Corp.’s team and their portfolio of greenhouse infrastructure and agricultural assets.”
Mr. Weinkauf’s full bio is available on Crop’s website. Furthermore, the company would like to announce that Alex Horsley has stepped down from his position on the board of directors of Crop Infrastructure. The company thanks Mr. Horsley for his time as a director and wishes him all the best in his future endeavours.
About Crop Infrastructure Corp. – Crop Infrastructure is engaged in the business of investing, constructing, owning and leasing megagreenhouse projects as part of the provision of turnkey real estate solutions for lease-to-licensed cannabis producers and processors offering best-in-class operations. The company’s portfolio of projects includes licensed greenhouse facilities in California and Washington State.”
Medical Marijuana, Inc. (OTC:MJNA) recently announced that the company applauds the United Nations World Health Organization’s Expert Committee on Drug Dependence (ECDD) for focusing its 40th Annual Meeting on reviewing cannabis and cannabis-related substances next week. In November 2017, Medical Marijuana, Inc. subsidiary HempMeds® President, Latin America Raul Elizalde spoke at the 39th Expert Committee on Drug Dependence meeting where he spoke about the therapeutic benefits of cannabidiol (CBD) and shared his story about how CBD helped his daughter Grace become seizure-free. The 40th meeting of the Expert Committee on Drug Dependence will be held in Geneva, Switzerland, June 4-7, 2018. Members of the committee, including many prestigious doctors, professors and researchers, will discuss and review the entire cannabis plant, cannabis resin, extracts and tinctures of cannabis, Delta-9-tetrahydrocannabidiol (THC) and isomers of THC. Areas of study will include the chemistry, pharmacology, toxicology and therapeutic use of these substances.
iAnthus Capital Holdings, Inc. (OTCQB:ITHUF) owns and operates best-in-class licensed cannabis cultivation, processing and dispensary facilities throughout the United States, providing investors diversified exposure to the U.S. regulated cannabis industry. Recently, the company announced its financial and operating results for the first quarter of 2018. The Company recorded $3.2 million of revenues in Q1 2018, compared to $0.3 million in Q1 2017. Total revenues include the Company’s inaugural cannabis revenues totaling $0.2 million, as the Company transitions to an owner and operator of licensed assets in the cannabis sector, in addition to $2.6 millionin fair value adjustment on biological assets, which represents results from the Company’s cultivation operations.
Terra Tech Corp. (OTCQX:TRTC) is a vertically integrated cannabis-focused agriculture company. The company pioneered the future by integrating the best of the natural world with technology to create sustainable solutions for medical cannabis production, extraction and distribution, plant science research and development, food production and Closed Environment Agriculture (CEA). On May 10, 2018, the company announced its first quarter 2018 financial results for the period ended March 31, 2018. Total revenues generated for the quarter ended March 31, 2018 were approximately $8.6 million, an increase of 26% from $6.8 million in the same period in 2017. This growth was primarily due to revenue generated by the Company’s dispensaries in California and Nevada and from revenue generated by Edible Garden from the sales of its produce and herbs. Terra Tech received State of California Temporary Authorization to cultivate, manufacture, distribute and retail cannabis to the adult-use market, following California’s legalization of adult-use cannabis sales effective January 1, 2018.
Hiku Brands Company Ltd. (OTC:DJACF) is focused on building a portfolio of engaging cannabis brands, unsurpassed retail experiences and handcrafted cannabis production. Recently, the company announced it has entered into a binding letter of intent with Oceanic Releaf Inc., a Newfoundland & Labrador-based late-stage applicant under the Access to Cannabis for Medical Purposes Regulations. Under the terms of the LOI, Hiku will invest up to $1,000,000 in cash and up to $2,000,000 worth of common shares of Hiku in exchange for 25% of the post-closing aggregate issued and outstanding shares of Oceanic on a fully-diluted basis. In connection with the Strategic Investment and pursuant to the LOI, Hiku and Oceanic intend to become licensed for up to five cannabis retail locations within the province, and will enter into a retail agreement governing the operation of these stores. The Strategic Investment will be contingent upon securing retail licenses from the Government of Newfoundland & Labrador allowing Hiku to operate stores within Newfoundland & Labrador.
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