HOUSTON, TX / ACCESSWIRE / January 14, 2019 / The cannabis story arguably had its most impressive year in 2018.
Canada became the first country in the industrialized world to legalize recreational marijuana. More U.S. states approved its medicinal and recreational use. Corporate America quickly woke up the to the opportunity, and analysts are raising their estimates.
In fact, Cowen, U.S. cannabis sales alone could reach $80 billion by 2030- an increase of $5 billion from earlier estimates, and a 4% compound annual growth rate. Piper Jaffray believes the market for legal cannabis could be worth $15 billion to $50 billion a year, with global sales growing to $250 billion to $500 billion.
Nowadays, as cannabis just begins its cultural renaissance, several companies are experiencing sizable growth and opportunities, including Pure Global Cannabis Inc. (TSX-V: PURE) (OTCQB: PRCNF), Aurora Cannabis (NYSE: ACB), and Canopy Growth Corp. (NYSE: CGC).
Pure Global Cannabis'(PURE) (PRCNF) subsidiary, PureSinse Inc. was just awarded a Sales License under the Cannabis Act by Health Canada. Canadian medical patients will now be able to select from dozens of cannabis products offered by PureSinse. As part of the Sales License, the company can also sell products into the adult-legal consumer market through provincially licensed retailers, for which it is launching uniquely curated lines of consumer products tailored to specific market segments.
"This is a significant milestone for us and something we have been vigorously preparing for over the last several months," said Malay Panchal, CEO, Pure Global. "We feel the medical community has been underserviced with poor patient and physician education, and product offerings, areas we hope to be trail blazers in and make a significant contribution to in 2019.''
Pure Global Cannabis is also on track to increase production significantly in 2019 with PureSinse. Its Phase 2 facility expansion plans are expected to be completed by the first half of 2019. Phase 2 will increase the facility of 18,000 sq. ft with estimated production of 4,000 kg. per year. Phase 3, which is expected to be completed in the second half of 2019, will complete the company's research and development lab, expanding the facility to 41,000 sq. ft, increasing production to about 8,000 kg. per year.
For More Information on Pure Global Cannabis, Click Here.
Canopy Growth (CGC) is again attracting significant interest. Analysts at Piper Jaffray believes the long-term growth opportunities are significant, as the global cannabis market benefits from legal sales and its medicinal use. Analysts assigned a $40 price to the stock.
''We do believe the long-term growth opportunities are significant — both from transitioning illicit trade to legal sales, medical sales, and from transitioning sales in health & wellness categories to CBD-infused products,'' analysts said, as quoted by CNBC. ''Medical cannabis can replace a variety of products (e.g. pain relief, sleep aid, opioid replacement). CBD-infused products (with non-psychoactive properties) could gain share from food, beverage, and personal care categories.''
For More Information on Canopy Growth Corporation, Click Here.
Aurora Cannabis (ACB) is seeing sizable investor and attention after noting it anticipates revenue for the quarter ended in December 2018 of between $50 million and $55 million, compared to $11.7 million year over year. That implies growth of nearly 330% in a single year.
"Revenue growth for the quarter was driven by the Company's strong position in the adult consumer use market in Canada, continued shipments of medical cannabis to Aurora's expanding base of approximately 71,000 patients in Canada, and relatively stable, supply restricted shipments, to its growing international markets," according to the company.
In addition, with a great deal of acquisitions under its belt, the company may be on course to produce up to 700,000 kilograms of cannabis each year.
For More Information on Aurora Cannabis, Click Here.
Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from aressed or implied by such statements. Winning Media which has a partnership with www.MarijuanaStox.com is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release.
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