NEW YORK, November 28, 2018 /PRNewswire/ —
Cannabis is currently being widely adopted around the world for medical purposes. More and more countries are exploring opportunities within the medical marijuana industry due to the plants versatility, for instance, countries are now considering cannabis as an alternative to opioids to treat certain medical conditions. Cannabis is primarily being used to treat conditions such as chronic pain, arthritis, Alzheimer’s, cancer, and migraines, among others. According to data compiled by Energias Market Research, the global medical cannabis market is projected to grow from USD 8.28 Billion in 2017 to USD 28.07 Billion in 2024. The market is also set to grow at a CAGR of 19.1% during the forecast period. The growing awareness and R&D initiatives are expected to increase demand, further propelling the market. As research continues, additional countries may begin to consider cannabis as a medical treatment alternative. CLS Holdings, USA Inc. (OTC: CLSH), KushCo Holdings, Inc. (OTC: KSHB), Neptune Wellness Solutions Inc. (NASDAQ: NEPT), Curaleaf, Inc. (OTC: LDVTF), Origin House (OTC: ORHOF)
Chronic pain is the largest segment within the medical cannabis market. In 2016, nearly 20% of U.S. adults dealt with chronic pain, while 8% had high-impact chronic pain, according to the National Center for Complementary and Integrative Health. Many adults who suffered from chronic pain conditions used opioids to suppress it and research by the National Institutes of Health showed that patients diagnosed with chronic pain linked to opioid dependency. Now, the National Institute of Drug Abuse has moved to provide funding to cannabis researchers to explore the therapeutic uses of medical cannabis to combat high costs of medical treatments and opioids. “Patients have been conducting their own self-experiments on a variety of street drugs for decades,” said Dr. F. Stuart Leeds, who practices and teaches family medicine at Wright State University. “They know more about what marijuana will do for their chronic pain and addiction problems than we do.”
CLS Holdings, USA Inc. (OTCQB: CLSH) earlier this month announced breaking news that, “it has loaned $5 million to In Good Health, a licensed medical dispensary in Brockton, Massachusetts with a significant market share.
CLS continues with its plans and looks forward to the opportunity to enter the rapidly growing Massachusetts market, which has been operating as a legalized medical jurisdiction since 2015 and has approved legalized recreational use.
In Good Health is located 25 miles south of downtown Boston and is one of the 38 licensed dispensaries in the state. The Brockton dispensary was the second licensed dispensary in the state and has been operational since September 2015, which has been medical only up until this time. In Good Health is currently servicing 17,000 registered patients and delivering to 1,700 homes with key product offerings of flower, concentrates, vapes, edibles, pre-rolls and tinctures.
Massachusetts has a population of 6.9 million people as compared to 5.6 million people in Colorado. Massachusetts is also centrally located to the dense population of New England with a less than 100-mile drive from Rhode Island, Connecticut, New York, New Hampshire and Vermont. In 2017, Colorado generated $1.5 billion in legalized marijuana sales and had over 500 licensed dispensaries and over 700 licensed cultivation facilities. Massachusetts currently has issued only 39 licensees.
Jeff Binder, Chief Executive Officer of CLS Holdings USA, commented, ‘We are pleased to have continued to move forward with In Good Health in a timely manner and are extremely excited to have the opportunity to enter the Massachusetts market. This opportunity fits into our stated objective of entering markets that have attractive characteristics and are on the cusp of implementing a robust adult use market.'”
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., the parent company of innovative industry leaders such as Kush Supply Co., Kush Energy, The Hybrid Creative, and Koleto Packaging Solutions, which provide a range of services and products for a variety of industries including the regulated cannabis and CBD industries, recently reported its financial results for its fiscal year 2018, for the period ended August 31st, 2018. Nick Kovacevich, Chairman and Chief Executive Officer, commented, “We are exceptionally pleased with the financial results we achieved during the fiscal year with revenues of USD 52.1 Million, representing 177% growth compared to approximately USD 18.8 Million in fiscal 2017. Our strong revenue growth was the result of dramatic growth in our most critical markets, with growing customer numbers, an increasingly diversified offering and expanded facility capabilities. Our growth was further supported by an expanded global presence with recently-opened offices in Canada and China. While we are disappointed with the impact our dramatic growth has had on margins, we believe they are short-term consequences and we’re pleased to have already implemented several initiatives to improve margins on a go-forward basis.”
Neptune Wellness Solutions Inc. (NASDAQ: NEPT) is a health and wellness products company, with more than 50 years of combined experience in extraction, purification and formulation of value-added differentiated science-based products. Neptune Wellness Solutions Inc. recently announced its financial and operating results for the 3-month period ended September 30th, 2018. Revenues increased at CAD 7.1 Million for the three-month period ended September 30th, 2018, versus adjusted revenues of CAD 6.0 Million for the three-month period ended September 30th, 2017. Quarterly revenues for 2017 were adjusted to take into account the sale of the krill manufacturing business on August 7th, 2017. “We are progressing through the cannabis licensing process with Health Canada, having submitted our Evidence Package. We are at the final stages of this process, and our Sherbrooke facility will begin operations shortly following the receipt of our Producers Licence pursuant to Cannabis Regulation (CR),” stated Jim Hamilton, President and Chief Executive Officer. “Our Phase II capacity expansion is moving ahead on time and is expected to be completed by March 2019, significantly raising our production capability to 200,000 kg of dried cannabis using advanced extraction techniques.”
Curaleaf, Inc. (OTC: LDVTF) is a leading vertically integrated cannabis operator in the United States. Curaleaf, Inc. recently announced the launch of Curaleaf Hemp, a line of premium hemp-based CBD products. Curaleaf Hemp was developed by an experienced team of scientists and product experts. The natural, non-intoxicating products meet the strictest quality standards and are derived from hemp farmed in the United States. Curaleaf Hemp’s products are made with simple, natural ingredients and are infused with essential oils such as lavender, lemon, jasmine, ginger and vanilla to add an additional layer of benefits for overall wellness. “Expanding our presence within the industry and entering the consumer goods marketplace with Curaleaf Hemp is an exciting step for the company,” said Joe Lusardi, President and Chief Executive Officer of Curaleaf. “Patients already trust and rely on Curaleaf for the highest-quality medical cannabis products and we have taken that same care with the development of Curaleaf Hemp. Supporting overall wellness, Curaleaf Hemp is a consistent and reliable line of hemp-based CBD products that consumers can trust. We expect this to become a significant economic contributor to our business in the years to come.”
Origin House (OTCQX: ORHOF) is a growing cannabis products and brands company operating across key markets in the U.S. and Canada, with a strategic focus on becoming a preeminent global house of cannabis brands. CannaRoyalty Corp. d/b/a Origin House recently announced that it has entered into a strategic partnership with boutique cannabis producer, Heritage Holding of California, Inc. d/b/a Henry’s Original. As part of a broader brand acceleration and community support initiative, Origin House, through its distribution subsidiary River Distributing Co., LLC (“RVR”), will purchase premium cannabis flower from local Mendocino County. Henry’s has agreed to repurchase all such cannabis flower from RVR, which will then be processed and packaged into jars and pre-rolls under the Henry’s Original brand. Commenting on the partnership, Afzal Hasan, President and General Counsel of Origin House said, “Our vision as Origin House is to become the home of premium cannabis brands and I’m excited to be able to leverage this unique opportunity with Henry’s Original as one of the first partnerships following our recent rebrand. This initiative allows us to financially support local Mendocino farmers while helping the growth of a unique flower brand. Partnering with local entrepreneurs such as Jamie allows us to be a responsible corporate citizen promoting growth of the California cannabis industry. This Agreement is one of a number of similar opportunities we’ve been exploring – we look forward to partnering with more passionate local California businesses to help bring their industry leading offerings to the world.”
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