FinancialBuzz.com News Commentary
NEW YORK, March 16, 2018 /PRNewswire/ --
According to a report by Ameri Research Inc., the global legal cannabis market was valued at $14.3 billion in 2016 and is estimated to grow at a CAGR of 21.1% between 2017 to 2024, while reaching a value of $63.5 billion by 2024. The market is going through a period of robust growth because of increasing legalization and decriminalization of cannabis products across North America. The report specifies that the legalization trend is moving beyond the U.S. region. Data by Arcview Market Research clarifies that growth of the legal cannabis industry are expected reaccelerate in 2018, as adult use sales ramp up in Canada, California, and Massachusetts along with medical sales in Florida. High Hampton Hldgs Corp. (HHPHF), American Cannabis Company, Inc. (AMMJ), GB Sciences, Inc. (GBLX), United Cannabis Corporation (CNAB), Kush Bottles, Inc. (KSHB)
While California is the largest market, Canada is projected to show strong sales as well. According to CBC, Canada is one of only two countries, together with the Netherlands - that currently exports cannabis, allowing firms in Canada to take instant benefit of recent medical cannabis legalizations in more than 20 countries. CBC reported that the, "offerings in today's Canada medical marijuana market differ little from those used recreationally - the smokable plant and, more recently, oil extracts. More than 70 companies have licenses from the federal drug regulator, Health Canada, to cultivate, produce and sell medical marijuana, with more than half those licenses granted in 2017 or 2018."
High Hampton Hldgs Corp. (HHPHF) also listed on the Canadian Securities Exchange under the Ticker (CSE:HC). Earlier today the company announced breaking news that, "that Paul Mann has joined the Company as Chief Operating Officer to support the next phase of aggressive business growth while building out its strategical California team.
David E. Argudo, CEO of High Hampton, commented: "I am very pleased to welcome Paul Mann to our team. As High Hampton is preparing to bring its CoachellaGro asset online, we are also actively pursuing potential acquisitions in our efforts of consolidating the California Cannabis market, and Paul will be instrumental in optimizing and streamlining this process.
On behalf of the entire team, I would like to express my sincere Thanks and appreciation to our interim COO Daniel Petrov who will continue to serve High Hampton with his extensive experience and knowledge in the Cannabis sector as a director on our board."
About Paul Mann - A successful serial entrepreneur, Paul Mann's experience and network spans the globe. He has managed and successfully exited nine start-ups on three continents including Cavio Corporation, Veridicom International, National Connect, The Pacific Business Development Corporation and Winsight Technology. Having raised venture funding for companies that he has owned, managed, mentored and consulted, Paul Mann's successful track record and established business network will be beneficial in aiding the Company's future business growth and acquisition processes.
About High Hampton Holdings - High Hampton Holdings is a cannabis sector investment company focused on opportunities in California. The Company's wholly owned subsidiary, CoachellaGro Corp., is a California corporation focused on the development of a 10.8-acre property situated in the proposed cannabis industrial park located in Coachella, California. CoachellaGro is in the application process for a conditional use permit for development of a full-service production facility in order to serve third party state licensed medical marijuana operators. The City of Coachella has been progressive in setting up city ordinance that sets aside over 90 acres within which will be a legal framework for the cultivation, production, extraction and transportation of cannabis. The complex is intended to contain all the necessary; security, infrastructure, equipment, labour and skilled management, supplies and ancillary services for a closed loop production process flow."
American Cannabis Company, Inc. (AMMJ) is a full-service business-to-business consulting solutions provider, and seller of ancillary products to the cannabis industry. On January 17, 2018, the company announced that it has secured a consulting contract with Cloud 9 Apothecary in the state of California. In conjunction with the consulting agreement, ACC will acquire an equity stake in Cloud 9's project that is currently non-operational and in the development stage. This project, to be built-out and completed in Desert Springs, California, will comprise a closed-loop greenhouse containing a 22,000 square foot canopy of premium cannabis cultivars. With the construction of this facility, Cloud 9 Apothecary's plans focus on wholesale cultivation and product manufacturing. Plans to shift into a fully integrated business model, complete with dispensing solutions, will be made in the near future as Cloud 9 plans to scale up operations organically.
GB Sciences, Inc. (GBLX) is a diverse cannabis company, focused on standardized cultivation and production methods; as well as biopharmaceutical research and development. Recently, the company announced their sponsorship of the 1stAnnual "Innovation in Medical Cannabis Therapies" Symposium in Las Vegas, Nevada, on Friday, June 1st, 2018. Top innovators in cannabis tech, biotech, nanotech, and metabolomics are invited to this collaborative discussion, which was designed to explore the necessary advances across multiple fields that are required for the development of safe and effective plant-based medicines. GBS Life Sciences is currently working with research scientists in seven locations to discover disease-modifying compounds that occur naturally in the cannabis plant and has organized this symposium to gather more like-minded innovators who will create both novel cannabis-based medicines to help the many patients who need therapeutic options, as well as the tech and biotech tools to manufacture and develop those plant-based medicines.
United Cannabis Corporation (CNAB) is a biotechnology company dedicated to the development of phyto-therapeutic based products supported by patented technologies for the pharmaceutical, medical, and industrial markets. Recently, the company announced that Jamaica's University of the West Indies' Ethics Committee has reviewed and approved its proposal to conduct clinical trials on its Prana Bio Nutrient Medicinals P1 Capsules for the treatment of chronic pain. The study, titled, "An Open-Label, Phase 1, 2-Way crossover study evaluating the pharmacokinetics of Prana P1 THC activated capsules," will be conducted in conjunction with Cannabinoid Research & Development ("CRD"), the Company's Jamaican subsidiary, at the Centre For Cannabis Research at the University Of West Indies, Mona Campus, in Jamaica. Cannabinoid Research & Development (CRD), a subsidiary of United Cannabis, is a Jamaican based corporation pursuing local licensing to advance the use of medical cannabis therapies through biomedical research and development for the nutraceutical industry.
Kush Bottles, Inc. (KSHB) provides unique products and services for both businesses and consumers in the cannabis industry. Founded in 2010 as a packaging and supplies company for dispensaries and growers, Kush Bottles has sold more than 100 million units and now regularly services more than 5,000 legally operated medical and adult-use dispensaries, growers, and producers across North America, South America, and Europe. On March 6, 2018, the company announced it has been selected by FunkSac, LLC to be the exclusive distributor for its line of flagship FunkGuard products. Under the terms of the agreement, Kush Bottles will distribute the line of FunkGuard products to FunkSac's existing customer base, as well as across Kush Bottles' national platform. FunkSac® will continue to implement its own sales and marketing initiatives in conjunction with the additional support from Kush Bottles.
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