MarketNewsUpdates.com News Commentary
The global cannabis industry is in a position to significantly expand and enhance operations as spending is projected to increase drastically over the next decade, according to a study conducted by Arcview Market Research. The study forecasts spending on legal cannabis to near $60 billion by 2027, thus necessitating bolstered operations as industry leaders aim to keep up with the steadily rising global demand. Canada's green rush is on building real excitement that may be attributed to the expected legalization of recreational marijuana in the Country by this coming summer. With expansion nearing, Canadian marijuana growers have been pouring growing amounts of operating cash flow and capital to expand production capacity. Active cannabis stocks in the markets include: Choom™ Holdings Inc.(CSE: CHOO) (OTC: CHOOF), Emblem Corp. (TSX-V: EMC) (OTC: EMMBF), MedReleaf Corp. (TSX: LEAF) (OTC: MEDFF), National Access Clinic Corp. (TSX-V: NAC) (OTC: NACNF), Invictus MD Strategies Corp. (TSX-V: GENE) (OTC: IVITF).
Choom™ Holdings Inc. (CSE: CHOO) (OTC: CHOOF) BREAKING NEWS: Choom™ has applied to Saskatchewan Liquor and Gaming Authority ("SLGA") for cannabis retail permits in 32 Zones across the province. The SLGA has made 51 cannabis retail permits available in 32 zones through a Request for Proposal process and is expected to award the permits via lottery by June, 2018.
Additionally, Choom™ has secured the rights to 16 retail locations in Alberta and British Columbia, in all cases, subject to all necessary governmental approvals being granted. This number is excepted to grow over the coming months as the Company is currently negotiating additional leases with the intention of submitting applications for retail licenses.
"This is a significant step towards delivering the Choom™ experience of 'good times with good friends' for Canadians across the country," states Choom's president and CEO, Chris Bogart. "We have now established a footprint to position Choom™ as a leading private cannabis retailer in Western Canada. We will continue to pursue retail licensing opportunities across the country and remain committed to serving all Canadians in the coming consumer cannabis market. Choom's vision of delivering an elevated customer experience through our curated retail environments, with the creation of modern, stylish storefronts is well underway." Read this and more news for Choom™ at: http://www.marketnewsupdates.com/news/choo.html
Additional industry related developments from around the markets:
Emblem Corp. (TSX-V: EMC.V) (OTC: EMMBF) and Durham College (DC), on behalf of its health and education subsidiary GrowWise Health Limited (GrowWise), are partnering to develop and launch the Cannabis Industry Specialization certification fall 2018. The first of its kind in Ontario, the part-time studies program will be delivered both in class and online via simulcast. It is designed to prepare professionals with business experience or who have already completed a diploma or degree in business to pursue a career in the rapidly growing cannabis sector. "The long-term success of Canada's cannabis industry will depend strongly on there being a skilled workforce to support and advance it," said Adam Saperia, president, GrowWise. "Together, GrowWise and Durham College are ensuring that the right education and training are available to those who are interested in entering this exciting field."
MedReleaf Corp. (TSX: LEAF.TO) (OTC: MEDFF) recently announced the appointments of Umar Syed as Senior Vice President of Corporate Development and Andy Duncan as Vice President of Engineering. In addition to these appointments, Eitan Popper has stepped down from his position as President of MedReleaf, effective immediately. These senior leadership team changes add depth and experience from the pharmaceutical industry as part of MedReleaf's global strategy. Mr. Syed brings over 27 years of experience in the healthcare and pharmaceutical industry and was most recently at Pharmascience Inc., among Canada's largest pharmaceutical companies with distribution in over 60 countries. Mr. Duncan has over 20 years of engineering and infrastructure development experience primarily at Apotex Inc., Canada's largest generic pharmaceutical company with a global operation and exports to over 115 countries.
National Access Clinic Corp. (TSX-V: NAC.V) (OTC: NACNF) and The Second Cup Ltd. ("Second Cup") (SCU.TO), Canada'ssecond-largest retailer of specialty coffee, recently announced that they have established a strategic alliance to develop and operate a network of NAC-branded recreational cannabis dispensaries initially across Western Canada , expanding to include additional provinces where legally permissible. NAC will apply for licenses to dispense cannabis products and upon receipt, work with Second Cup and applicable franchisees to leverage Second Cup's extensive Canadian retail footprint to construct retail stores carrying leading cannabis products, including products supplied by CannaRoyalty Corp. (CSE:CRZ) (OTC: CNNRF) ("CannaRoyalty"), California's largest legal distributor of cannabis products. Conversion of any Second Cup café to an NAC-branded recreational cannabis dispensary will be conditional on obtaining a retail license from provincial regulators and the approval of Second Cup and the applicable franchisee and landlord.
Invictus MD Strategies Corp. (TSX-V: GENE.V) (OTC: IVITF) recently announced that Acreage Pharms Ltd ("Acreage Pharms") has received 23 new strains, providing the Company with a broad cannabis cultivation profile including: strains that are high in CBD; strains that offer especially elevated concentrations of THC; and strains that capture a wide variety of terpenes and cannabinoids, increasingly sought after by cannabis consumers. "The Acreage Pharms team continues to produce more genetics through its selective breeding program to further improve its cultivation biodiversity - a key step towards ensuring the breadth and longevity of our lines for medical and recreational markets," said Invictus Chairman and CEO Dan Kriznic. "Cultivating a generous suite of high-quality cannabis is complex, demanding work. It requires savviness in fields like plant biology, irrigation and lighting, as well as an intimate understanding of pests and diseases and how to vanquish them naturally - no pesticides or herbicides. Acreage Pharms is taking so many smart steps, and of course the team led by Acreage Pharms CEO Trevor Dixon , continues to invest in new strains and will continue to do so across this historic year and beyond. It is thrilling.".
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