Positive political developments as well as growing investment from established corporations are just some of the things that are aiding the marijuana market in its growth. Below are some of the companies to keep an eye on as this market continues its stellar growth. According to data compiled by Genesis Market Insights, the global marijuana market was valued at USD 17.18 Billion in 2017 and is projected to reach USD 58.90 Billion by 2023. It is also projected to grow at a CAGR of 22.91% during the forecast period. Marijuana, also known as cannabis, is rapidly expanding globally. In large, the growth is due to the widespread legalization of the plant for either medical or recreational uses. However, the recreational market remains limited due to restrictions, which is causing the medical segment to hold the majority of the overall market value. Despite the recreational market being limited legally, it is still booming due to the influx of new products being introduced, as well as the growing number of U.S. states legalizing cannabis. Recently, during the U.S. midterm elections, Utah and Missouri opted to legalize medical cannabis while Michigan passed to legalize recreational usage. The U.S. alone held over 90% of the global market even though cannabis is not legalized nationwide. Additionally, the North American segment will continue to hold the largest market value and witness the fastest growth globally.
CLS Holdings, USA Inc. (OTC:CLSH), Emerald Health Therapeutics, Inc. (OTC:EMHTF), The Supreme Cannabis Company (OTC:SPRWF), Lexaria Bioscience Corp. (OTC:LXRP), General Cannabis Corp. (OTC:CANN)
Although the cannabis market still remains in its infancy stage, it is still positioned for strong growth as more countries begin to explore opportunities. Canada just recently legalized cannabis entirely, joining Uruguay as the only two countries to do so. Currently many countries, especially in Europe, are looking to legalize medical cannabis, while other countries globally, such as Peru and Australia, recently legalized medical cannabis. “The industry is at about 5 percent of what it will be someday,” concurs Tyler Stratford, Director of Client Operations for cannabis consulting firm Canna Advisors. “Even if the path forward isn’t straight, we’re certainly on a path forward. The tide has changed, and there’s no turning it back now.”
CLS Holdings, USA Inc. (OTCQB:CLSH) earlier this week announced breaking cannabis news that, “Meet the City Trees Team at Booth #3913 City Trees Products Available in 35 Nevada Dispensaries City Trees Considers Expansion Beyond Nevada, its Nevada wholesale brand, City Trees, will be an exhibitor at the 2018 Marijuana Business Convention “MJ Biz Con” in Las Vegas from November 14 to the 16. CLSH also announced the City Trees product line is now being sold in over 35 dispensaries throughout Nevada and it is considering expanding the brand beyond the Nevada market.
Visitors to the booth at MJ Biz Con will have the opportunity to meet the City Trees team and learn about the product line. CLS Nevada, Inc. Chief Operating Officer Don Decatur commented, “We are excited to showcase the City Trees product line at MJ Biz Con this year as we consider expanding the brand beyond the Nevada market.” MJ Biz Con attendees will find the City Trees team at booth #3913, adjacent to the conference registration area.
City Trees added 5 new wholesale customers in the last 30 days. Its line of disposable vapes, cartridges, tinctures, and capsules can now be purchased in over half of the dispensaries in Nevada. Decatur explained the growth, “Our dedication to premium quality, competitive pricing, and the team’s focus on excellent customer service all contribute to the continued success of City Trees.”
About Oasis Cannabis (http://oasiscannabis.com) – Oasis Cannabis has operated a cannabis dispensary in the Las Vegasmarket 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. In August 2017, the company commenced wholesale offerings of cannabis in Nevada with the launch of its City Trees brand of cannabis concentrates and cannabis-infused products. An expansion of its cultivation and production facility is currently underway and is expected to be completed during the fourth quarter of 2018.
Lexaria Bioscience Corp. (OTCQX:LXRP) has developed and out-licenses its disruptive delivery technology that promotes healthier ingestion methods, lower overall dosing and higher effectiveness of lipophilic active molecules. Lexaria Bioscience Corp. recently announced the launch of ChrgD+, a water-soluble, ready-mix hemp supplement powder packet formulation designed to be added to any drink, in any location, creating many innovative-use applications. “This new delivery format is truly unique in its performance,” said Chris Bunka, Chief Executive Officer of Lexaria Bioscience. “It’s a simple way to add a multi spectrum powdered hemp supplement to your favorite beverage at any time and enjoy its fast-acting, non-altered taste with no oily residue. Lexaria’s ChrgD+ product format is being evaluated by others for use in their psychoactive cannabinoids products sector as per our proven track record as a technology provider to the industry.”
General Cannabis Corp. (OTCQX:CANN) is the comprehensive national resource for the highest-quality service providers available to the regulated cannabis industry. General Cannabis Corp. recently announced it is expanding its presence on the East Coast with the opening of a New York office. The New York office provides General Cannabis a strategic location to better serve existing East Coast clients while also attracting new talent and partnerships as the cannabis market in the eastern U.S. continues to develop. Further, the opening of the New York office provides a hub for current clients looking for East Coast expansion opportunities. “Given our growing list of East Coast clients and the steps that states like Massachusetts and New Jersey have taken toward launching adult-use sales, this is the ideal time for General Cannabis to further invest and establish itself in the region,” said Michael Feinsod, Executive Chairman of the Board for General Cannabis. “The growth potential for the market in this region is unparalleled. An East Coast office is perfectly suited to cater to this territory as General Cannabis continues to expand its presence nationwide. We plan on expanding our security, operations and marketing segments aggressively throughout the East Coast. In addition, we will be utilizing this office to expand and enhance our corporate, marketing and mergers and acquisitions teams.”
Emerald Health Therapeutics, Inc. (OTCQX:EMHTF) is a Canadian licensed producer of cannabis. Emerald Health Therapeutics, Inc. recently announced that it has completed its first shipments of adult-use cannabis, fulfilling its initial supply scheduling, product, and volume commitments in British Columbia and Newfoundland and Labrador – an important milestone for the Company as it significantly ramps up production and sourcing of cannabis and cannabinoid products. Emerald products have been available in these provinces since October 31st. “It has always been important to us to ensure we fulfill the supply commitments we made to our provincial cannabis distribution customers. We are pleased that our initial deliveries have met this obligation and that we have the ability to provide consistent and increasing contracted shipments of Emerald products,” said Paul Dillman, Emerald’s Executive Vice President, Global Sales & Marketing. “With proprietary market research, differentiated products based on unique plant genetics, a recognizable, trusted brand, significant marketing expertise and bandwidth, and a growing sales team across Canada, we are aiming for a significant ramp-up in sales every quarter from these initial deliveries forward.”
The Supreme Cannabis Company (OTCQX:SPRWF) is a Canadian publicly traded company committed to providing premium brands and products that proudly reflect its consumers, people and uniquely innovative culture. The Supreme Cannabis Company, Inc. recently announced that it had entered into a definitive agreement to acquire leading communications and stakeholder relations firm Bayfield Strategy, Inc.. Bayfield’s Chief Executive Officer, Founder and Shareholder, Riyaz Lalani, will be appointed to the position of Chief Corporate Officer (“CCO”) of the Company where he will help shepherd the Company through its next stage of growth as a leading premium cannabis producer in the world. Bayfield’s employees will enter into employment agreements with Supreme Cannabis and assume a variety of roles in corporate operations and stakeholder relations. “I am excited to welcome the Bayfield team to Supreme Cannabis. We have worked closely with Bayfield and have come to trust their advice, work ethic, and values. As we enter an exciting growth stage for the Company and the global cannabis industry, we will benefit from the infusion of skills and experience brought by the Bayfield team. Supreme’s acquisition of Bayfield and our retention of Riyaz Lalani as our new CCO, will support our growth efforts for Supreme’s businesses in Canada and internationally,” said Navdeep Dhaliwal, Chief Executive Officer of Supreme Cannabis.
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