Over the last year, Canada approved cannabis. More U.S. states are legalizing its recreational or medicinal use. Corporate America is using CBD and hemp oil in everything from lotions and pain balm to beverages. President Trump signed the 2018 Farm Bill into law. Even better, according to Arcview Market Researcher and BDS Analytics, global spending on cannabis is expected to rocket 38% this year to $16.9 billion up from $12.2 billion in 2018.
Along the way, cannabis has also transformed pharmaceuticals, tobacco products, health, and wellness products. Even the beverage market has seen a substantial impact. For example, Constellation Brands partnered with Canopy Growth Corporation. Molson Coors teamed with HEXO Corporation. Even New Age Beverages is producing and distributing a new line of Marley+ CBD drinks, including Mellow Mood, a relaxation tea with CBD. Some of the top companies in the industry include The Yield Growth Corp. (CNSX:BOSS.CN) (OTC:BOSQF), The Green Organic Dutchman (TSX:TGOD.TO) (OTC:TGODF), Green Thumb Industries (CNSX:GTII.CN)(OTC:GTBIF), Canopy Rivers Inc. (TSXV:RIV.VN)(OTC:CNPOF), and Liberty Health Sciences Inc. (CNSX:LHS.CN)(OTC:LHSIF).
The Yield Growth Corp. (CNSX:BOSS.CN)(OTCQB:BOSQF) BREAKING NEWS: The Yield Growth Corp. just engaged Cornerstone Strategic Branding (CSB) to complete a visual positioning study and subsequent creation of brand and packaging design for its new hemp and cannabis beverage lines. As Yield Growth and CSB work on these brand designs, the ownership company will be canvassing the market to secure a partner from the U.S.A. beverage industry and one multi-state operator to launch these beverages to bars and restaurants, and retail stores.
“The creation of powerful packaging and in-store communications programs is crucial for Yield Growth to successfully enter the competitive drinks market with its hemp and cannabis products,” says Penny Green, President & CEO of Yield Growth. “With CSB as an agency partner, we are confident their research, strategy and design expertise will combine with our exciting beverage options to quickly impress consumers in this market niche and generate sales throughout North America and internationally in time. We were impressed by the effectiveness CSB has shown for its beverage sector clients such as Poland Spring 100% Natural Spring Water, Coffee Mate, Nescafe Taster’s Choice Coffee and Seagram’s Escapes under the direction of Christopher Nunes, CEO.” For more information and additional news for BOSS, please visit: https://yieldgrowth.com/
Other cannabis-related developments from around the markets include:
The Green Organic Dutchman (TSX:TGOD.TO) (OTCQX:TGODF) is developing a distribution hub for beverage and edible products for Canada and abroad. “We believe that the beverage and edible market will be the largest single segment of the cannabis market. Cannabis, as the base ingredient, makes these products possible. The medicinal and recreational market for CBD and THC will only increase over time and starting with an organic input is the most important aspect to developing these higher margin products,” notes TGOD President Csaba Reider.
Green Thumb Industries (CNSX:GTII-CN.CN)(OTCQX:GTBIF) just announced that Rise Amherst will begin selling cannabis to adults aged 21 and over. The store will continue to offer exceptional care to medical cannabis patients with a separate consultation space, retail floor, checkout area and exit for people with a valid Commonwealth of Massachusetts medical card. “GTI’s mission is to empower the right to wellness by progressing the responsible adult use of cannabis through innovative branded products and people-first retail experiences while remaining committed to the community,” said GTI Founder and CEO Ben Kovler.
Canopy Rivers Inc. (TSXV:RIV-V.VN)(OTCPK:CNPOF) just announced that its portfolio company PharmHouse Inc. entered into a second offtake agreement with Canopy Growth Corporation for the purchase of cannabis from its 1.3 million square foot greenhouse facility upon licensing. The Agreement commits an additional 20% of PharmHouse’s flowering space to Canopy Growth for the next three years, in addition to the 10% that was originally committed in May 2018. The Agreement provides for the delivery to Canopy Growth of a minimum of 25,000 kg of cannabis per year and a maximum of 45,000 kg of cannabis per year.
“PharmHouse continues to show tremendous progress at the facility, and the joint venture is quickly developing as a key pillar for value creation and synergy within the Canopy Rivers portfolio ecosystem,” said Olivier Dufourmantelle, Chief Operating Officer of Canopy Rivers. “Thanks to the collaborative contributions of our joint venture partners, the ongoing support and guidance of Canopy Rivers, and the strategic insight of Canopy Growth throughout the licensing process, we are excited to announce an incremental supply partnership that mutually benefits all three parties.”
Liberty Health Sciences Inc. (CNSX:LHS-CN.CN)(OTCQX:LHSIF) just announced that it will open its 14th Florida dispensary in Cape Coral’s South Cape business district, subject to Florida Department of Health approval. This is the first medical facility to open in Cape Coraland Liberty’s second dispensary to open in Lee County. The 3,380 square-foot facility includes innovative shopping displays that engage and educate patients, two private consultation rooms and a large waiting room where patients, physicians and community members can learn about the benefits of medical cannabis. The dispensary is also equipped to offer drive-through services for its patients.
“We anticipate strong patient demand in the Cape Coral area, which is supported by a large population of potential patients living in Southwest Florida who can take advantage of our exceptional customer service and educational resources,” said Victor E. Mancebo, interim CEO of Liberty. “There are many retirees living in our service area who can benefit from our products and Cape Coral is also one of the fastest growing cities in Florida. Already patients and the city of Cape Coral are embracing our presence and we are excited to provide the community with our premium medical marijuana products.”
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