HOUSTON, TX / ACCESSWIRE / February 11, 2019 / With the passage of the U.S. Farm Bill, hemp will be a significant catalyst for growth.
In fact, it'll allow for hemp cultivation and the transfer of hemp products across state lines for commercial and other purposes, notes Forbes. It may just create a $39.4 billion market, says Markets and Markets, a marked improvement from a $10.3 billion valuation in 2018.
Most notably, some of top companies that could realize its benefits, include Pure Global Cannabis Inc. (TSX.V: PURE) (OTC PINK: PRCNF), Tilray Inc. (NASDAQ: TLRY), and Canopy Growth Corporation (NYSE: CGC)(TSX: WEED).
Pure Global Cannabis' (PURE)(PRCNF) subsidiary, PureSinse Inc. and Emerald Plants Health Source just announced the companies have entered into a cannabis supply agreement where Pure Global will purchase 1,000kg of dried flower from EPHS. The total quantity will be shipped periodically throughout a 12-month period starting in July 2019.
Since obtaining its sales license, PureSinse has been focused on securing high quality, differentiated inputs in order to service its medical cannabis patients. The Supply Agreement will allow the Company to expand its product offerings to medical patients, support product demands from Spark Cannabis Clinic and diversify its consumer channel strategy with adult use products.
"We are continuously looking for ways to get the highest quality products for distribution to our clinics, patients, and our online customers. This collaborative, forward-looking arrangement between PureSinse and EPHS meets a shared goal and vision; to deliver outstanding cannabis products to the sector" says Malay Panchal, President and CEO of Pure Global. "We anticipate that EPHS' production method will produce wholesale supply that meet our quality policy."
For More Information on Pure Global Cannabis, Click Here.
Canopy Growth Corporation (CGC)(WEED) will make a significant investment of $100 million and $150 million to create a large-scale hemp production facility in New York over the next 100 days. It's currently looking at sites in the Southern Tier of the state, notes Bloomberg.
In addition, according Cowen, "We expect continued growth in newly established U.S. states, and more robust growth in Canada as more supply comes online and new form factors hit the market," analysts at Cowen noted. Among the likely beneficiaries, will be Tilray Inc. and Canopy Growth, which it believes will "finally start to see the true benefits of adult use sales and the lapping of upfront investments made in calendar 2018 to scale up ahead of adult use."
For More Information on Canopy Growth Corp., Click Here.
While Tilray Inc. (TLRY) has not yet made an announcement that it will establish operations in the U.S hemp market, it did just sign a letter of intent (LOI) with LiveWell Canada Inc. Under the terms of agreement, Tilray will buy hemp-derived CBD isolate sources in Canada and the United States. The CBD isolate that Tilray is buying from LiveWell Canada will be used for Tilray's wellness and medical products in Canada and the U.S.
For More Information on Tilray, Inc., 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.
For making specific investment decisions, readers should seek their own advice. Winning Media, which has a partnership with www.MarijuanaStox.com, is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement between Winning Media (partners of MarijuanaStox.com) and Pure Global Cannabis, Winning Media has been paid sixty thousand dollars for advertising and marketing services for Pure Global Cannabis. We own ZERO shares of Pure Global Cannabis. Please click here for full disclaimer.
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