According to a report published by Coherent Market Insights, the global medical cannabis market was valued at USD 3.5 Billion in 2017 and is projected to grow at a compound annual growth rate (CAGR) of 24.4% to surpass USD 20.17 Billion by 2025. The report indicated that the increasing clinical trials and approvals of medical cannabis products will drive the growth of the market. Medical cannabis is used to develop drugs that will enhance the treatment for diseases such as epilepsy and various types of cancers. Additionally, the growing acceptance of the mobile application, e-commerce and digital media is projected to fuel the growth of the medical cannabis market during forecast years. MariCann Group Inc. (OTC:MRRCF), MariMed Inc. (OTC:MRMD), TerrAscend Corp. (OTC:TRSSF), Leafbuyer Technologies, Inc. (OTC:LBUY), Emblem Corp. (OTC:EMMBF)
On June 19th, Canada had legalized cannabis on a national level and became the first G20 country to do so. A research by PwC specifies that more than 100 licensed producers (LPs) are already in use in Canada’s cannabis industry, with hundreds more awaiting government approval. Most LPs are in startup mode, despite being operational for a few years. Darren Henderson, Partner at PwC Canada’s Technology, InfoComm, and Entertainment & Media consulting explained, “The cannabis industry is blossoming. With the upcoming legalization of cannabis for recreational use by the Federal Government, the sector is expected to grow as producers, manufacturers, and companies from across the value chain embrace opportunities in both the recreational and medical markets.”
MariCann Group Inc. (OTCQB:MRRCF) is also listed on the Canadian Securities Exchange under the ticker (CNSX:WAYL.CN). Yesterday, the Company announced, “receipt of accreditation for its proprietary education program for pharmacists from the Canadian Council on Continuing Education in Pharmacy (the CCCEP).
The Company has identified that pharmacists are the most accessible and one of the most trusted health professionals in the Canadian healthcare system which makes them a critical component in the provision of patient care. In cooperation with the Company’s joint venture pharmacy partners, Wayland developed cannabis education programs, including this comprehensive online education platform to raise the standard of care across Canada. These programs will be available to pharmacists in over 2,100 pharmacies, coast to coast.
Wayland believes that there is a national need for education and more importantly practical guidance for medical cannabis therapy, assessment, dosing and monitoring to ensure safe and appropriate use for patients. As many cannabis patients present with comorbidities and take multiple medications, which require appropriate management to help avoid adverse side effects.
The Wayland program incorporates online learning tools including, webinars, educational events and educational resources specifically for pharmacists and clinicians. The Educational Program, which launched on October 1, 2018 – is accredited by the CCCEP for pharmacists on the clinical and practical application of cannabinoid therapy. In addition, it includes practice guides, instructional videos, dosing protocols and patient support materials which can be used by physicians and the full circle of care.
‘We’re proud to elevate the standard of care provided to patients through an expert led educational platform that provides pharmacists and physicians the ability to become experts in cannabis and share this with their patients to enhance their quality of life,’ said Ben Ward, CEO. ‘We’re taking this platform now to other countries to help medical professionals understand cannabis, so they can speak in plain language to their patients regarding potential benefits.’
Maricann Group Inc., through its subsidiaries, is operating under the Wayland Group name. For further details see the press release dated September 24, 2018.”
MariMed Inc. (OTCQB:MRMD) is a multi-state professional cannabis organization that develops, owns and manages cannabis facilities and branded products lines. MariMed, Inc. recently announced that it had consummated its strategic investment in Sprout, an all-in-one CRM and marketing software company for marijuana dispensaries and cannabis brands. This completes the previously announced MariMed LOI for investment in Cannabis Venture Partners, parent company of Sprout. “The cannabis industry needs a comprehensive software solution which integrates a full featured CRM engine and platform for marketing, education, and analysis for brands, dispensaries, educators, and researchers,” said MariMed Chief Executive Officer Robert Fireman. “The Sprout platform has the foundation for these functions and more. MariMed will work with the Sprout team to make this software the best for the cannabis industry. This product enables MariMed to provide a bundled technology solution for its brands, facilities, and strategic partnerships incorporating both B2B and B2C communications.”
TerrAscend Corp. (OTC:TRSSF) is a biopharmaceutical and wellness company that is committed to quality products, brands and services for the global cannabinoid market. TerrAscend Corp. recently announced that the Company has entered into an agreement with the MDM Insurance Services Inc. to establish a program for medical cannabis coverage and a framework for research on cannabis and medication utilization. “TerrAscend and Solace Health Network represent opportunity and choice for patients that may benefit from cannabinoid therapy. Working with MDM on a program to provide patient education, assessment, reimbursement and additional services, will facilitate the appropriate integration of medical cannabis as an option to aid patients,” shared Dr. Michael Nashat, TerrAscend’s President & Chief Executive Officer. “Additionally, we are looking forward to establishing a credible body of evidence to guide innovation and the future of medical cannabis.”
Leafbuyer Technologies, Inc. (OTCQB:LBUY) is one of the most comprehensive online sources for cannabis deals and information. Leafbuyer works alongside cannabis businesses to showcase their unique products and build a network of loyal patrons. The Company recently announced that yearly sales rose 42% in the fiscal year ending June 30th, 2018. The increase reflects the cash sales booked in the year versus the previous year. The Company reported that sales in new markets have been steadily increasing as marketing efforts have taken hold and sales staff have been put in place. “Our overall strategy of broadening our platform to become a true comprehensive marketing solution has allowed us to attract many new customers and upsell current ones. The average monthly spend for new customers has increased more than 50% in the last six months as we continue to offer a wider basket of solutions. We have also been investing heavily in development (online ordering, loyalty and block chain) and are starting to see the results in sales numbers. We are very excited about what is happening right now in the industry. Canada will be legalizing this month; the U.S. elections are a month away and we are rolling out great product enhancements across our network. Building and broadening the platform while scaling in new markets across the country is our ongoing focus,” said Mark Breen, Chief Operating Officer and Vice President of Sales of Leafbuyer.
Emblem Corp. (OTCQX:EMMBF), through its wholly-owned subsidiary Emblem Cannabis Corporation, is a fully integrated licensed producer and distributor of medical cannabis and cannabis derivatives in Canada under the Access to Cannabis for Medical Purposes Regulations (ACMPR). Emblem Corp., along with Canntab Therapeutics Limited, recently announced that they have achieved a milestone with regards to the development of a patent-pending oral extended release formulation for cannabinoids. “Emblem’s strength in the medical market is further solidified by achievement of this major milestone. We believe the oral extended release formulation will be a game-changer in the medical cannabis market and that Emblem, through its license agreement with Canntab, is at the forefront of this development,” said Nick Dean, Chief Executive Officer. “Precise, dose-controlled cannabis medications are critical to the acceptance of cannabis among prescribers and patients. Emblem has long been a medical-first LP and our first and foremost commitment is to our patients. Innovative cannabis products for both the medical and adult-use space are fundamental to our long-term strategy, alongside brand building and distribution.”
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