2020 Election Results Signal Robust Revival for Cannabis Markets
Palm Beach, FL – November 10, 2020 – Just prior to the recent nationwide elections in the U.S. the global and U.S. cannabis markets have been growing over the past few years and given the results of the election, are projected to even intensify in the years to come. Before the election industry insider Marijuana Business Daily (MBD) opined that the adult-use marijuana legalization referendums in New Jersey and Arizona headline an election that has the potential to create new state cannabis markets that together could generate more than $2.5 billion in annual sales within a few years. It said that: “Tuesday’s upcoming election represents a major potential catalyst to the U.S. cannabis industry,” Wall Street investment bank Cowen noted in a research update distributed Oct. 29… The most near-term tailwind will come from adult-use ballot initiatives in AZ (Arizona) and NJ (New Jersey), the latter of which has the potential to result in a domino effect of legislatively driven adult-use legalization across the Northeast.” Active companies in the Cannabis market this week include Cannabis Strategic Ventures, Inc. (OTCQB: NUGS), Sundial Growers Inc. (NASDAQ: SNDL), Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB), Canopy Growth Corporation (NYSE:CGC) (TSX:WEED), MariMed Inc. (OTCQX: MRMD).
The article projected what the outcomes could be in certain states. It predicted that in ARIZONA, Projected first-year sales could reach $375 million-$400 million and projected 2024 sales could reach $700 million-$760 million. In MISSISSIPPI they projected first-year sales: $240 million-$265 million and 2024 sales of $750 million-$800 million. In MONTANA, the projected first-year sales were $217.2 million and 2024 sales could reach $234 million (source: University of Montana). In NEW JERSEY they projected first-year sales of $375 million-$400 million and projected 2024 sales of $850 million-$950 million and in SOUTH DAKOTA they projected first-year sales of $1.5 million-$2 million and projected 2024 sales: $10 million-$12 million*. (*Projections are for a medical marijuana market only.)
Cannabis Strategic Ventures, Inc. (OTCQB:NUGS) BREAKING NEWS: Cannabis Strategic Ventures Reports $6.4M in Sales for Three Months Ended Sept. 30, Up Nearly 100% Q/Q – Cannabis Strategic Ventures, an emerging leader in the U.S. cannabis marketplace, is excited to announce performance data for the three months ended Sept. 30, 2020, which featured robust growth and broad expansion in positioning within the rapidly growing California cannabis marketplace.
The Company booked over $6.4 million in total sales from cannabis during the three months ended Sept. 30, 2020, which compares with $3.3 million in total sales from cannabis during the three months ended June 30, 2020, a sequential quarterly increase of over 90%, and a year-over-year increase of over 800% compared to the three months ended Sept. 30, 2019.
“We saw a terrific quarter come to an end in September, but we are already turning our attention to expanding and executing in the months and quarters ahead,” commented Simon Yu, CEO of Cannabis Strategic Ventures. “Our $5 million 2020 annual revenue guidance has been left in the dust at this point. We are now seeing total sales accelerate toward a significantly higher mark as we continue to improve product quality, market reach and execution.”
Management notes that performance data trends in place for the Company reflect a combination of better product quality, better distribution relationships and better pricing coming together in a favorable environment with multiple tailwinds.
The Company continues to prioritize expansion of production and distribution as well as product refinement. Management believes that the rapid year-to-date growth in sales, in particular, has been driven by improved market positioning and product quality following the Company’s investments in improved cultivation standards, per-harvest production yield and total production capacity during a period when many competitors were downsizing earlier this year, creating an undersupplied marketplace that represented an important opportunity for Cannabis Strategic Ventures.
Yu added, “We hit the gas pedal when everyone else was hitting the brakes earlier this year, including on the execution side, which led to better product quality, which, in turn, has led to higher pricing in the market for our cannabis production on a per-unit volume basis. That trend continues to dovetail with our very positive trend in rising production capacity. In the process, we have nailed into place a growing footprint of strong distribution relationships by being a reliable source of high-quality products in an unpredictable context for end-market retailers.” For more information on NUGS, please visit http://www.CannabisStrategic.com
Other recent developments and major influences in the cannabis industry include:
Sundial Growers Inc. (NASDAQ: SNDL) recently announced that it has entered into a sales and distribution agreement (the “Agreement”) with local company Choklat Inc. (“Choklat”), a Health Canada licensed chocolatier company focused on offering decadent confections with high-quality flavour. The new collaboration between the two Alberta-based companies provides Sundial the opportunity to continue to expand its product portfolio and enter the edible market.
As part of the contractual arrangement, Sundial and Choklat will launch a cannabis-infused confectionary brand, offering a selection of chocolate bars, drinking chocolate and infused sugar, all containing 10 milligrams of THC, the highest amount legal to sell in a single edible serving in Canada. Both companies expect to scale the collaboration across the country with first product targeting to be in-stores ahead of the holiday season in Alberta.
Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB), the Canadian company defining the future of cannabinoids worldwide, recently announced its financial and operational results for the first quarter of fiscal 2021 ended September 30, 2020. “We continue to take the necessary steps to execute our plan and transform our business to achieve sustainable profitability, and ultimately positive cash flow,” stated Miguel Martin, Chief Executive Officer of Aurora Cannabis. “Our Q1 2021 results are transitional but do highlight successes across a number of diverse profit pools. We remain the leader by revenue in the high-margin Canadian medical market, our international medical business experienced more than 40% net revenue growth this quarter, and our CBD brand Reliva is #1 ranked by Nielsen in the U.S. CBD sector.”
“While we are not satisfied with our past performance in the growing Canadian consumer business, we have a sense of urgency in the execution of our tactical plan to grow profitable market share. Our efforts are directed at delivering the highest quality products, refocusing on our leading premium and ultra-premium brands, better allocating our sales and marketing spend, and executing key account partnerships at both the province and retail levels.”
Canopy Growth Corporation (NYSE:CGC) (TSX:WEED), a world-leading diversified cannabis, hemp, and cannabis device company, recently announced the launch of Quatreau, a new line of premium CBD-infused beverages. The naturally flavoured sparkling waters are Canopy Growth’s first CBD-infused drinks, with both CBD-only and “balanced” (CBD + THC) offerings available in Canada. Launched on the heels of incredible growth in sales from the Company’s THC-infused beverages, released earlier this year, Canopy Growth is uniquely positioned to win market share in the CBD beverage space.
“We are proud to debut our first CBD-infused beverage brand in Canada, where we already lead the cannabis-infused beverage category, at a price point that delivers both quality and value to consumers,” said David Klein, CEO, Canopy Growth. “We created Quatreau as an alternative to sugary, caffeinated beverages or even alcohol. With both CBD-only and “balanced” (CBD + THC) offerings in four natural flavours, Quatreau meets the needs of discerning cannabis consumers.”
With cold & flu season approaching, leading multi-state cannabis and hemp operator MariMed Inc. (OTCQX: MRMD) recently announced the release of the new Betty’s Eddies™ ElderBetty chews. This is the first THC-infused cannabis edible on the market in multiple states to include elderberry, vitamin D, and zinc.
“The Elderberry plant is packed with antioxidants and vitamins that many nutritionists believe enhance one’s immunity systems,” explained Jake Dean, Senior Food Scientist at MariMed. “As a company focused on innovation and wellness, we are excited to offer a new product that combines immune support with Betty’s Eddies delicious taste and reliable effects.”
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