NEW YORK, July 31, 2018 /PRNewswire/ —
According to a report provided by New Frontier Data, the legal cannabis market was worth an estimated USD 8.3 Billion in 2017 and is projected to grow at a compound annual growth rate (CAGR) of 14.7% and reach an estimated USD 25 Billion by 2025. The medical cannabis industry is projected to grow at a CAGR of 11.8% through 2025, as sales of products for recreational use are set to grow at an 18.4% CAGR, from USD 3.2 Billion in 2017 to USD 12.5 Billion by the end of the forecast period. New Frontier specifies that this data is based on the number of states that legalized cannabis for medical or recreational purposes as of January 2018 and does not include assumptions of additional states legalizing cannabis by 2025. Crop Infrastructure Corp. (OTC: CRXPF), Leafbuyer Technologies, Inc. (OTC: LBUY), GB Sciences, Inc. (OTC: GBLX), United Cannabis Corporation (OTC: CNAB), MPX Bioceutical Corporation (OTC: MPXEF).
Citing another report from Deloitte, nearly two-thirds of current cannabis consumers are likely to buy cannabis products from legal channels. Jennifer Lee, lead partner managing the Cannabis sector for Deloitte, said, “Most current and likely cannabis consumers want a variety of products offered at reasonable prices from suppliers who can vouch for the safety and origin of those products. Cannabis companies will need to have secure supply chains to protect the quality and integrity of their products, and retailers will need to meet consumer expectations, including providing a positive, engaging retailing experience and protecting the privacy of their customers, especially online.”
Crop Infrastructure Corp. (OTC: CRXPF) is also listed on the Canadian Securities Exchange under the ticker (CSE: CROP). Just earlier today, the company announced breaking news that it, “has entered in to a joint venture agreement whereby the company has a 49% interest in a zero-cost lease of a 217,000 sq. foot property ideally situated for future Cannabis production and extraction. The Five acres of prime agricultural land has been secured in the Westmoreland Parish, some of the most fertile land in Jamaica. The company is in the process of identifying a suitable tenant licensee for the project. The company plans to license the brand, ‘Hempire Jamaica’ to the tenant and has acquired the domain http://www.HempireJamaica.com.
CROP Director & CEO Michael Yorke states: “CROP continues to build its global footprint by securing this strategic joint venture in Jamaica. Many countries are now introducing new licensing and legislative regimes for CBD and cannabis and are prime entry points for our growing organization. Jamaica is of particular interest as its licensing regime allows for a full suite of genetics which will give our tenant growers the advantage of being able to provide buyers with a broad variety of CBD and THC end products.”
Jamaica has over 2.8 million residents and approximately three million visitors each year. In a report from the Jamaica Observer, Edmund Bartlett, the current Jamaican minister of tourism, estimated the global marijuana tourism market at $494 billion. With health and wellness tourism identified by Bartlett as an area of focus under the ministry’s plan to expand to five million annual visitors, expect the country to continue to cultivate its cannabis connections.
A 420intel.com article quotes Audley Shaw, Jamaica’s minister of commerce, industry, agriculture, and fisheries talking about exporting cannabis and creating an industry that will develop the pharmaceutical potentialities of the weed. The minister is not discounting the possibility of exporting recreational marijuana, as more and more countries legalize the substance. In the United States, 30 states and the District of Columbia have legalized cannabis for recreational or medical purposes and Shaw believes it is a trend that will eventually sweep the nation.”
Leafbuyer Technologies, Inc. (OTCQB: LBUY) is a leading cannabis technology platform. On July 19, 2018, the Company announced that sales growth has increased by over 50% from Q4 2017 to Q4 2018. This growth comes on the back of continued expansion into new markets as well as increased product offerings, such as online pre-ordering and the company’s loyalty program. John Valle, Director of Sales for Leafbuyer Technologies Inc. said: “Expansion plans started 9 months ago in Oregon, Washington, California, Nevada, and Arizona, and we are capitalizing on those markets. We are pleased with our growth, and with California continuing its transition from non-licensed shops to licensed shops, we believe we are in a great position to work with those companies from day one.”
GB Sciences, Inc. (OTCQB: GBLX) is a diverse cannabis company, focused on standardized cultivation and production methods; as well as biopharmaceutical research and development. On July 16, 2016, the Company updated the progress in their efforts to identify, cultivate and extract full spectrum hemp oil from proprietary hemp strains that contain desirable ratios of CBD, cannabinoids and terpenes to provide the necessary compounds to support both the Company’s medical Intellectual Properties portfolio and open a fresh revenue stream in the rapidly growing retail hemp market. The search for a full spectrum hemp oil product that matched the quality and consistency of their cannabis genetics led GB Sciences to The Colorado Hemp Project. CHP is a developer of best-in-breed genetics and recognized worldwide as a leader in the cultivation of hemp with the first legal hemp harvest in the United States. The revenue picture for production of hemp CBD is multi-threaded and bright. The revenue picture for production of hemp CBD is multi-threaded and bright. Current market prices put hemp flower yields at approximately 1000lbs. per acre with a retail value of between $100– $500 per lb. But GB will manufacture full spectrum oil and CBD Isolate from their grows yielding $30K – $50K and $32K – $64K in revenue per acre respectively.
United Cannabis Corporation (OTCQB: CNAB) is dedicated to the development of phyto-therapeutic based products supported by patented technologies for the pharmaceutical, medical, and industrial markets. On July 12, 2018, the Company provided preliminary, unaudited figures on revenues for the second quarter 2018 and offered guidance for the year. Revenues for the second quarter 2018 are $2 million, up 1400% as compared to the same period in 2017, and 800% over the first quarter 2018. This increase is primarily due to the launch of its industrial hemp-based processing facility. Management indicated that it expects to maintain this level of revenue going forward, forecasting a minimum of $10 million in revenue for 2018.
MPX Bioceutical Corporation (OTCQB: MPXEF) provides substantial management, staffing, procurement, advisory, financial, real estate rental, logistics and administrative services to three medicinal cannabis enterprises in Arizona operating under the Health for Life (dispensaries) and the award-winning Melting Point Extracts (high-margin concentrates wholesale) brands. Recently, the Company announced an agreement with Case Farms Collective, the largest cannabis processing facility in Southern California. Case Farms does business under the trade name ‘Oil Haus’ and operates 22,000 square feet of extraction, post processing and packaging space in Long Beach, California. The agreement with Case Farms represents the Company’s initial entry into the California market. The agreement is expected to significantly increase MPX’s distribution reach as Case Farms will distribute the MPX-branded cannabis concentrates to its network of licensed dispensaries throughout California. Case Farms has licenses in cultivation, manufacturing, processing and distribution of cannabis products.
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