NEW YORK, October 18, 2018 /PRNewswire/ —
According to data compiled by Ameri Research, the global cannabis market was valued at USD 14.3 Billion in 2016 and is anticipated to reach USD 63.5 Billion in 2024. North America accounts for more than 49% of the total market shares. Currently, the U.S. is the largest market for legal cannabis, even though cannabis is still illegal under federal law. However, many states in the U.S. allow cannabis for either medical use or recreational use. 31 U.S. states have legalized cannabis for medical use, while the recreational use of cannabis is legal in 9 states and Washington D.C. The cannabis market in Canada is expected to grow rapidly as it became the second country to legalize recreational cannabis on October 17th. AmeriCann, Inc. (OTC: ACAN), Cronos Group Inc (NASDAQ: CRON), Green Thumb Industries (OTC: GTBIF), TerrAscend Corp. (OTC: TRSSF), GrowGeneration Corp. (OTC: GRWG)
The cannabis industry in other countries is also expected to emerge. According to a report from Prohibition Partners, the legal cannabis sales in Latin America are projected to reach USD 12.7 Billion by 2028. The report states: “With the forthcoming legalization of Canada’s recreational cannabis market, all eyes have been on North America, but actually it’s the Latin American region that has quietly been carving out industry firsts. Uruguay was the first country in the world to fully legalize cannabis and Jamaica was the first to legalize cannabis on religious grounds. Colombia has become one of the world’s most attractive cannabis markets as international cannabis companies take advantage of favourable export laws. We believe that the expansion of a Latin American market will significantly impact the global cannabis industry, undercutting producers and pricing worldwide.”
AmeriCann, Inc. (OTCQB: ACAN) earlier last week announced breaking news that it, “has released designs for Building 2 which includes 345,000 square feet of cannabis manufacturing and cultivation infrastructure at its 52-acre Massachusetts Medical Cannabis Center (MMCC) in Freetown, MA.
The configuration of Building 2 includes over 100,000 square feet of dedicated cannabis extraction, processing and product manufacturing space and approx. 245,000 sq. ft. of cultivation infrastructure. The dedicated cultivation facilities are designed to utilize AmeriCann’s proprietary greenhouse system called Cannopy. The design of Building 2 of the MMCC, which is 345,000 square feet, will include three distinct units:
Unit A: 184,720 square foot cannabis cultivation facility
Unit B: 40,178 square foot extraction and product manufacturing facility; and
Unit C: 118,580 square foot cannabis cultivation facility cannabis
AmeriCann will own and operate Unit B which is designed to provide extraction and product manufacturing support to the entire MMCC project, as well as to other licensed cannabis farmers throughout Massachusetts. In addition to large-scale extraction of cannabis plant material, AmeriCann plans to produce branded consumer packaged goods including cannabis beverages, vaporizer products, edible products, non-edible products and concentrates at the state-of-the-art facility. The Company has already commenced construction on the first phase of the 1 million square foot multi-phase MMCC project with a 30,000 square foot cultivation facility.
AmeriCann plans to replicate the brands, technology and innovations developed at its MMCC project to new markets as a multi-state licensed operator.
Infused products are becoming an increasingly larger segment of total cannabis sales in regulated markets. According to the Wall Street Journal, ‘Interest in cannabis as an ingredient in food and drinks in on an upswing; beer brewing giant Constellation Brands, Inc. (NYSE: STZ) recently took a $4 billion stake in Canadian marijuana grower Canopy Growth Corp., (NYSE: CPG) which makes cannabis infused drinks and other products.’
Industry experts believe that the pending Massachusetts adult-use market, in conjunction with its existing medical program will exceed $1 billion by 2020. As the first approved adult-use cannabis market on the Eastern US, Massachusetts has the potential to become the epicenter for cannabis innovation and research.
About Massachusetts Medical Cannabis Center – Massachusetts Medical Cannabis Center (MMCC), a one million square foot sustainable greenhouse facility in Freetown, Mass. The first phase of the facility is scheduled to open and be ready for cannabis cultivation, processing, and infused product production in the spring of 2019. Once fully developed, the MMCC design calls for a research facility, a training center, corporate offices, a quality-assurance laboratory, and a facility for manufacturing cannabis-infused food, nutraceuticals and consumer packaged cannabis goods. AmeriCann intends to open similar facilities in states in which cannabis is legal for medical and adult use.
About AmeriCann- AmeriCann is a publicly traded agricultural technology (Ag-Tech) company that is developing a new generation of sustainable, state-of-the-art cannabis cultivation and processing properties. AmeriCann uses greenhouse technology which is superior to the current industry standard of growing cannabis in warehouse facilities under artificial lights. According to industry experts, by capturing natural sunlight, greenhouses use 25 percent fewer light bulbs, and utility bills are up to 75 percent less than in typical warehouse cultivation facilities. As such, AmeriCann’s Cannopy System enables cannabis to be produced with a greatly reduced carbon footprint, making the final product less expensive. Additionally, greenhouse construction costs are nearly half of warehouse construction costs. The first publicly traded Certified B Corp in the cannabis industry, AmeriCann has proven its commitment to sustainable, clean cultivation of medical cannabis and to social and environmental ethics, transparency and accountability.”
For the latest AmeriCann Inc. corporate video news check out “Buzz on the Street” show: https://www.youtube.com/watch?v=gp9XYiHJncQ
Cronos Group Inc. (NASDAQ: CRON) is a globally diversified and vertically integrated cannabis company with a presence across five continents. Cronos Group Inc. recently announced that it has entered into a sponsored research agreement with the Technion Research and Development Foundation of the Technion – Israel Institute of Technology, to explore the use of cannabinoids and their role in regulating skin health and skin disorders. The preclinical studies will be conducted by Technion over a three-year period and will focus on three skin conditions: acne, psoriasis and skin repair. “We believe that the potential applications of cannabinoids to regulate skin health and treat skin disorders are vast, and we are excited to begin exploring these applications through our partnership with Technion,” said Mike Gorenstein, Chief Executive Officer of Cronos Group. “Using rigorous data to develop efficacious topical and transdermal formulations will be key to creating differentiated products that provide quality treatments to our consumers and strengthen our brand portfolio.”
Green Thumb Industries (OTCQX: GTBIF), a national cannabis cultivator, processor and dispensary operator, is dedicated to providing dignified access to safe and effective cannabis nationwide while giving back to the communities in which it serves. Recently, Green Thumb Industries Inc. and KW Ventures Holdings LLC welcomed the community to an open house on October 2nd at RISE York to tour the facility, to meet the RISE team and learn more about Pennsylvania’s medical marijuana program. This event occurred before medicine was stocked at the dispensary for the entire community, not just patient card holders, to explore the site. RISE York will be GTI’s fourth dispensary in Pennsylvania and its 14th dispensary in the nation. “We are thrilled to extend our retail footprint in Pennsylvania and to serve more patients in the state while offering additional choices for safe and effective medical marijuana,” says GTI Founder & Chief Executive Officer, Ben Kovler. “We believe access to medical marijuana is part of a comprehensive solution to curbing the opioid epidemic, a crisis which has affected the lives of so many in York. Unlike opioids, there is zero risk of overdose with marijuana.”
TerrAscend Corp. (OTC: TRSSF) is a biopharmaceutical and wellness company that is committed to quality products, brands and services for the global cannabinoid market. TerrAscend Corp. recently announced the unveiling of Haven Street, a premium cannabis brand for the Canadian adult-use market that was launched nationally on October 17th, 2018 with 48 unique SKUs in dry flower and pre-roll forms. The Haven St. brand will consist of twelve strains and multiple formats ranging from single and 5-pack pre-rolls to 1g and 30g dry flower formats. “We have taken a consumer-centric approach to developing the Haven St. brand while ensuring we deliver a mature, premium experience across all aspects of the consumer journey,” said Keith Gillespie, TerrAscend’s Adult Use, VP of Marketing. “We believe our premium quality Haven St. products will offer a distinctive brand that consumers can trust, ensure recognition at the point of sale, and will enable us to differentiate ourselves in the emerging adult-use cannabis market. Our unique street-like address system that ranges from 100 – 500 and categorizes our products from low THC to high THC creates a simple way for adults to explore our cannabis offering. Within the Haven St. neighbourhood, every address leads to a new experience. Wherever you’re going, Haven St. can take you there.”
GrowGeneration Corp. (OTCQX: GRWG) owns and operates specialty retail hydroponic and organic gardening stores. The Company’s mission is to own and operate GrowGeneration branded stores in all the major legalized cannabis states in the U.S. and Canada. GrowGeneration Corp. recently announced that it is forming GrowGeneration Canada for the purpose of acquiring retail and wholesale equipment and grow supply companies servicing the Canadian cultivator. The Company will initially operate out of Ontario and British Columbia and plans to finance this entity and its acquisitions independently from GrowGen USA. The Company has begun discussions with several acquisition targets, expected to total over USD 20 Million. Darren Lampert, Co-Founder and Chief Executive Officer, said, “As part of our expansion and growth strategy, GrowGen USA identifies emerging markets, like Canada and sets a plan in place to offer cultivators a one-stop operation for all of their grow supply needs. With over 11M sq. ft. of cultivation in place, plus laws that include home growing and micro-cultivation licenses, makes Canada a great new market opportunity for us. GrowGen Canada will seek to acquire profitable wholesale and retail hydroponic and grow supply businesses and access the Canadian public markets to finance these targeted acquisitions. Following our USA model, GrowGen Canada will deploy a knowledge- based direct sales team, of “Grow Pros” that will offer our one-stop shopping solutions and consultative services to the Canadian cultivators.”
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