Palm Beach, FL –February 5, 2021 – It seems as if every report on the future growth of revenues in the legal cannabis markets, recreational & medical, predict continued substantial growth through the next several years. Growing acceptance and adoption of legal marijuana for the treatment of chronic diseases like cancer, arthritis, and Alzheimer’s as well as neurological problems such as depression, anxiety, and epilepsy is a key factor driving the market. The increasing legalization of medical cannabis in the region to curb the black market and provide easy access to patients is also expected to spur market growth. A recent report from IMARC, an industry research organization, said that the North America legal cannabis market is expected to reach a value US$ 54.6 Billion by 2025. A report from Grand View Research had even higher projections, saying that the North America legal marijuana market size, which was valued at USD $30.1 billion in 2019 and $38.3 in 2020 is expected to grow at a compound annual growth rate (CAGR) of 15.5% from 2020 to 2027, reaching revenues of $104.9 Billion in 2027. Active Companies active today in the cannabis related markets include: Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB), THC Therapeutics, Inc. (OTCPK: THCT), Aphria Inc. (NASDAQ: APHA) (TSX: APHA), Sundial Growers Inc. (NASDAQ: SNDL), Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI).
The Grand View Report also stated “as the number of U.S. states legalization is increasing, the market is expected to witness lucrative growth over the forecast period. The U.S. is anticipated to be the fastest-growing country in terms of the market in 2019. This is majorly attributed to high product adoption and utilization owing to government approvals… Hence, increasing the support of U.S. citizens regarding the use of medical cannabis will fuel the market growth during the forecast period. Increasing investments in R&D are likely to expand the application in the medical field.”
THC Therapeutics, Inc. (OTCPK: THCT) Breaking News: THC Therapeutics, Inc. (THCT), a forward-thinking, publicly-traded technology company, whose mission statement is, “Better Health through the Science of Nature,” is pleased to announce that the company has joined the Las Vegas Medical Marijuana Association (LVMMA) – THCT plans to leverage the diverse membership of dispensary owners, production facilities, cultivators, labs and various companies to further the company’s growth strategy.
As mentioned in our previous press release, the company is moving forward with its financing plans by potentially raising up to $75 million via a Reg A+ offering. Investors that are interested in more information regarding the planned offering may contact the company at the email address below.
Parker Mitchell, the CEO of THC Therapeutics states, “I am excited that THCT is now a member of the LVMMA and is presently attending the meetings and events. We look forward to the opportunities that this association can provide. Through this partnership, and others like it, we will create a foundation for rapid growth.” Learn more about THCT at: https://thct.io/
In other active company news in the markets this week:
Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB), the Canadian company defining the future of cannabinoids worldwide, recently announced it has entered into a strategic agreement with MedReleaf Australia (“MedReleaf”). The companies have signed a five-year supply agreement, which provides for MedReleaf to act as the exclusive supplier in Australia of Aurora’s MedReleaf, CanniMed and Aurora brands. Products covered by the agreement will be EUGMP certified and include dried flower, oils, and soft gels, as well as future products employing new delivery mechanisms. The agreement does not require or include any capital investment by Aurora.
MedReleaf Australia, in which Aurora holds a 10% ownership stake, is a fully licenced, private company operating in the Australian medical cannabis sector since 2016. MedReleaf and Aurora currently supply products to the Australian medical cannabis system. This agreement will advance that offering and extend availability of high-quality, medical cannabis to patients. MedReleaf is one of the six founding members of the trade association Medicinal Cannabis Industry Australia (MCIA).
Aphria Inc. (NASDAQ: APHA) (TSX: APHA), a leading global cannabis-lifestyle consumer packaged goods company inspiring and empowering the worldwide community to live their best life, recently announced the addition of topicals to its award winning adult-use brand Solei®. Known for its occasion-based offerings, our Solei® Topicals will join a range of other formats currently available, including whole dried flower and pre-rolls, smoke-free oils, oral sprays, soft gels, and vapes.
Solei® is the first brand from Aphria’s portfolio to enter the topicals market with its lineup including three of its popular Moments: Unplug (Lavender), Balance (Orange Citrus), Free (Cucumber Mint) and Free Unscented. Solei® Topicals have been carefully formulated to provide consumers with the highest potency topical currently available in the Canadian market (500mg of cannabinoid per container) and a superior texture comparable to a premium non-infused cream – rich to the touch.
Sundial Growers Inc. (NASDAQ: SNDL) recently announced that it has closed a best efforts underwritten registered offering of 60,500,000 Series A Units, each consisting of one common share and one-half Series A Warrant, with each whole Series A Warrant entitling the holder to purchase one common share, and 14,000,000 Series B Units (and together with the Series B Units, the “Units”), each consisting of one pre-funded Series B Warrant (together with the Series A Warrants, the “Warrants”) to purchase one common share and one-half Series A Warrant, with each whole Series A Warrant entitling the holder to purchase one common share. Each Series A Unit was sold at a price of US$1.00 per Series A Unit and each Series B Unit was sold at a price of US$1.00 per Series B Unit, minus US$0.0001, and the remaining exercise price of each Series B Warrant is equal to US$0.0001 per common share. The Warrants are immediately exercisable and have a term of five years commencing on the date of issuance. Only whole Warrants are exercisable. The exercise price of the Series A Warrants is equal to US$1.10 per common share. All of the securities in the offering are being sold by Sundial.
Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI), the parent company of Organigram Inc. (together, the “Company” or “Organigram”), a leading licensed producer of cannabis, announced its results for the first quarter ended November 30, 2020 (“Q1 Fiscal 2021” or “Q1 2021”).
“We are pleased with our double-digit sales growth in the Canadian adult-use recreational market this past quarter as it reflects the success of many of our new product launches, particularly in the dried flower value segment,” said Greg Engel, CEO. “Now we look forward to our new higher margin Edison dried flower offerings contributing substantially to overall revenue with even more new products to come in the next few quarters. We believe our product portfolio revitalization combined with additional resources to ramp up production and achieve greater economies of scale as well as our relentless focus on increased automation and cost efficiency opportunities position us well to generate further top-line growth and significantly improve gross margins.”
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