Latest Global Legal Cannabis Revenues Projected To Hit $16.9 Billion In 2019
Palm Beach, FL – April 23, 2019 – All over Canada, parts of the U.S. and other countries around the globe, the specter of the steady march towards legalization, is viewed as a “not IF but WHEN” scenario that seems to be inevitable. Canada and some other countries in both hemispheres have already pulled back the restrictions, and the revenue projections continue to rise. Where the global numbers will be after more legalization will surely exceed the constantly rising projections that the markets are seeing even now! The projections for the legal & CBD cannabis markets seem to get higher with every new arrival… and big box and brick & mortar retailers of all sizes have taken notice. The legal marijuana and CBD markets numbers are increasingly optimistic. Various articles and reports currently say: “Today, the U.S. is the epicenter of the legal cannabis market and it appears it will hold that position for the foreseeable future. By 2022, legal cannabis revenue in the U.S. market is projected to hit $23.4 billion… Add in the figures for the CBD markets: “Hemp-Derived CBD Will Outpace All Other Cannabis Markets, Projected to Hit $22 Billion by 2022” and it’s easy to see why retailers want ‘in’ on the market. Active Companies from around the market with current developments this week include: Leafbuyer Technologies, Inc. (OTC: LBUY), Terra Tech Corp. (OTC: TRTC), Aphria Inc. (NYSE: APHA) (TSX: APHA), CannTrust Holdings Inc. (TSX: TRST) (NYSE: CTST), Neptune Wellness Solutions Inc. (TSX: NEPT) (NASDAQ: NEPT).
And just recently, the well-respected industry research company, BDS Analytics, said that worldwide legal cannabis will grow to $16.9 Billion in 2019 alone. Its report said: “ Arcview Group now forecasts that spending growth will accelerate in 2019, jumping 38% to $16.9 billion, and continuing to $31.3 billion in 2022, growing at a 26.7% compound annual growth rate (CAGR) over the five-year frame from 2017.
Leafbuyer Technologies, Inc. (OTCQB: LBUY) BREAKING NEWS: Leafbuyer Technologies a leading cannabis technology platform, announced today the rollout of its cutting edge delivery technology to complement its order ahead mobile application.
This week’s preliminary beta launch includes dispensaries in California and other states with legal cannabis delivery laws. Dispensaries in states like California, Arizona, Nevada, and Washington can now add delivery to their list of offerings through the Greenlight mobile application. Consumers can place an order for cannabis products to be delivered from a participating dispensary much the same way a person can order a pizza through a mobile application. The market for delivery is expected to exponentially grow in the next two years.
“The addition of this new technology will allow us to monetize our consumer base through a fee generated from each transaction,” said Kurt Rossner, CEO of Leafbuyer. “We’ll be able to penetrate thousands of new dispensaries and delivery companies in legal markets by offering this delivery solution. Leafbuyer will not physically deliver the products, rather we will hand off the ‘last mile’ to our delivery and dispensary partners.”
The implementation of delivery and other regional initiatives will fall under the purview of recently-appointed West Coast Regional Director of Sales, Scott Tretsky.
With more than 15 years of sales and management experience in the software and services fields and a relentless plan-and-execute mentality, Scott has a proven track record of starting up and building successful sales and account management organizations.
“Scott’s hands-on approach to building and scaling sales teams will be instrumental as our plan for 2019 is to focus on the continued sales execution of West Coast markets while doubling the salesforce by this fall,” said Mark Breen, COO of Leafbuyer. Read this and more news for LBUY at: https://www.financialnewsmedia.com/news-lbuy/
In the industry developments and happenings in the market this week include:
Terra Tech Corp. (OTCQX: TRTC) a vertically integrated cannabis-focused agriculture company, recently announced it has secured a permit to manufacture cannabis for the adult use market at its 15,000 square foot extraction facility in Reno, which is 50% owned by NuLeaf, from the State of Nevada.
Terra Tech commenced IVXX® production activities for the medical market at its Reno, Nevada facility, co-owned by NuLeaf, in the late in the third quarter of 2018. Securing this permit allows it to further increase supply of its proprietary IVXX wholesale brand to meet the significant demand for cannabis products from adult users throughout Nevada.
Aphria Inc. (NYSE: APHA) (TSX: APHA) recently announced that its German subsidiary Aphria Deutschland GmbH (“Aphria Germany”) has secured the previously announced license for the domestic cultivation of medical cannabis from the German Federal Institute for Drugs and Medical Devices (“BfArM”), following the conclusion of a mandatory 10-day standstill period for public contracts. Aphria was granted a cultivation license for four of the nine total lots awarded by BfArM and is awaiting the completion of the tender process for the four remaining lots under review, one of which was provisionally awarded to Aphria Germany.
CannTrust Holdings Inc. (TSX: TRST) (NYSE: CTST) recently announced that it has commenced an underwritten public offering of an aggregate US$200 million common shares, which contemplates approximately 85% of the common shares to be sold in the offering by the Company and approximately 15% of the common shares to be sold in the offering by certain shareholders (the “Selling Shareholders”). In connection with the offering, the Company and the Selling Shareholders expect to grant to the underwriters a 30-day option to purchase up to an additional 15% of the number of common shares sold in the offering.
Neptune Wellness Solutions Inc. (TSX: NEPT.TO) (NASDAQ: NEPT) recently announce that its Solutions Business has begun offering turnkey product development solutions with hemp-derived ingredients to business customers in the United States. A U.S.-based supply chain of licensed hemp extract producers has been established, and initial purchase orders are now being processed.
Neptune boasts long-standing experience in the management of custom and white label turnkey product development solutions comprising a diverse array of product forms including softgels, liquids, topicals, emulsions, and water-dispersible powders. Branded ingredients and products that have contributed to Neptune’s success, such as MaxSimil® and ECSentialsTMformulations, could potentially be used in unique combinations with hemp ingredients, particularly as the U.S. regulatory framework around hemp extracts and cannabidiol (CBD) evolves.
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