The U.S. recently held its midterm elections, where Missouri and Utah opted to legalize cannabis for medical use. Now, the U.S. has 32 states and the District of Columbia that have legalized medical cannabis. According to data compiled by Global Market Insights, the U.S. medical cannabis market is expected to exceed a market value of USD 8.0 Billion by 2024. The market is rapidly growing due to the preference to choose cannabis over opioids. Medical cannabis will be driven by its usage to treat various conditions such as chronic pains, neurological disorders, cancer, HIV/AIDS and arthritis. States that have already legalized medical cannabis have shown positive results in terms of demand and tax revenue, causing others to explore medical cannabis usage legalization. CLS Holdings, USA Inc. (OTC:CLSH), HEXO Corp. (OTC:HEXO), KushCo Holdings, Inc. (OTC:KSHB), Terra Tech Corp. (OTC:TRTC), Cronos Group Inc. (NASDAQ:CRON)
Research and Development is still ongoing within the U.S. to potentially normalize cannabis as an alternative for medical treatment. “Medical marijuana is an early sign of the change in the view of cannabis.” said Jordan Waldrep, portfolio manager for the USA Mutuals Vice Fund (VICEX). “Medical marijuana normalizes the social view of cannabis from a drug that is inherently dangerous to a medicine that is possibly safe for recreational consumption.”
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.”
HEXO Corp. (OTC:HEXO) creates and distributes innovative, easy-to-use and easy-to-understand products to serve the Canadian cannabis market. HEXO Corp. recently announced the closing of the acquisition of its interest in a large facility in Belleville, Ontario. This is the first facility that the Company has established outside of Quebec, further delivering on its national expansion strategy and allowing HEXO to create a centre of excellence for the development of advanced cannabis products. The centralized location, conveniently located along primary shipping routes in Ontario, will allow HEXO to process and distribute cannabis-based products to fulfil its commitments across Canada. “Closing the transaction and acquiring our interest in this facility is integral to carrying out our hub and spoke business strategy,” said Sebastien St-Louis, HEXO’s Chief Executive Officer and Co-Founder. “The space can be scaled up based on our future needs and provides HEXO with the infrastructure it needs to continue partnering with Fortune 500 companies and to create category-winning cosmetics, edibles, vapes and more.”
KushCo Holdings, Inc. (OTCQB:KSHB) is the parent company to a diverse group of business units that are transformative leaders across several industries. KushCo Holdings, Inc. recently announced it has formed a new Advisory Board to provide strategic advice and expertise to help accelerate growth, manage risk and enhance operational performance. Its first three appointments are Matthew Morgan, an entrepreneur and business consultant with leadership experience in the cannabis and other CPG industries, Eric Smith, an industry veteran in the Liquefied Petroleum Gas industry, and Ali Jahangiri, a digital publishing pioneer who has established and grown several businesses. The Advisory Board will have experts and influencers from various fields with diverse skills and networks related to the markets in which KushCo operates, and will aid in advancing KushCo’s strategy to become a leading provider of a diverse range of products and services across several industry verticals, both in the cannabis industry and beyond. “As we continue to expand the business, forming a well-rounded Advisory Board will serve as an additional resource to guide our rapid growth. We plan to add more experts to the Advisory Board, across a range of relevant industries over time, to provide diverse and complementary insights to the different areas of our business we service today, as well as how we will evolve in the future,” said Nick Kovacevich, Chief Executive Officer of KushCo. “Mr. Morgan, Mr. Smith and Mr. Jahangiri each bring a wealth of skills and experience to KushCo that will assist in positioning the Company for sustained, accelerated growth, both within the expanding cannabis market as well as the new markets we are targeting. Together, they provide a diversified set of skills, supported by strong networks, that will help us navigate the challenges we face as a rapidly growing public company and help better position us to achieve our lofty goals. I look forward to their close involvement in the next phase of the Company’s evolution.”
Terra Tech Corp. (OTCQX:TRTC) operates through multiple subsidiary businesses including: Blüm, IVXX Inc., Edible Garden, and MediFarm LLC. Terra Tech Corp. recently announced that on November 2, 2018 it signed a non-binding letter of intent (the “LOI”) to merge with Golden Leaf Holdings Ltd. (OTCQB:GLDFF), a cannabis company with cultivation, production and retail operations built around recognized brands. Under the terms of the letter of intent, a wholly owned subsidiary of Terra Tech will amalgamate with Golden Leaf, with the resulting amalgamated corporation being a wholly owned subsidiary of Terra Tech. Consummation of the transaction is subject to a number of conditions, including entering into a mutually agreed definitive arrangement agreement, completion of due diligence, the waiting period for the Hart-Scott-Rodino Act, state and local regulatory approvals, approval by the Ontario courts, Terra Tech board approval, Golden Leaf receiving a positive fairness opinion, Canadian Securities Exchange (the “CSE”) approval and Golden Leaf shareholder and board approval.
Cronos Group Inc. (NASDAQ:CRON) is a globally diversified and vertically integrated cannabis company with a presence across five continents. Cronos Group Inc. recently announced its financial results for the third quarter ended September 30, 2018. Third quarter 2018 revenues totaled USD 3.8 Million, as compared to USD 1.3 Million for the third quarter of 2017, representing an increase of USD 2.4 Million, or 186%. Kilograms of cannabis sold increased 213% in the third quarter from 164 kilograms in the third quarter of 2017 to 514 kilograms in the third quarter of 2018. The main drivers associated with the increase in revenues and the increase in kilograms sold are increased production capacity and increased volumes sold through the domestic medical and international channels, as well as initial shipments into the domestic adult-use recreational market. “We are encouraged with our third quarter results, which reflect the meaningful progress we are making on our strategic initiatives. In the quarter, we announced a number of landmark partnerships to expand our reach beyond the flower and beyond Canada and launched our second differentiated recreational cannabis brand,” said Mike Gorenstein, Chief Executive Officer of Cronos Group. “The recent legalization of cannabis sales for adult recreational use in Canada was a watershed moment for our industry and our Company. We are energized by the opportunities this creates for Cronos Group in Canada and look forward to leading the industry forward responsibly.”
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