PALM BEACH, Florida, December 11, 2018
PALM BEACH, Florida, December 11, 2018 /PRNewswire/ --
Financialnewsmedia.com News Commentary
The CBD niche of the cannabis sector has been growing at a vociferous rate as CBD-based products rapidly gain popularity. While the potential uses of cannabinoids are vast and growing just about every day, Leading Cannabis companies are focusing on the key to successfully bringing cannabinoid-based products to market is in creating reliable, consistent and scalable production of a full spectrum of the roughly 100 cannabinoids, not just THC and CBD. As the cannabis in the U.S. remains federally illegal, the U.S. market opportunity is quite sizable, according to an Cowen analyst, with the current illicit market valued at around $40 billion to $50 billion. Sixty-six percent of survey respondents now support legalizing marijuana, according to the latest Gallup poll. That's a record high and was the third consecutive year that support for legalization has increased to record levels. Active cannabis companies in the markets this week include Earth Science Tech, Inc. (OTC:ETST), Cronos Group Inc. (NASDAQ:CRON) (TSX:CRON), Pyxus International Inc. (NYSE:PYX), Aphria Inc. (NYSE:APHA) (TSX:APHA), MariMed Inc. (OTC:MRMD).
Earth Science Tech, Inc. (OTCQB:ETST) BREAKING NEWS : Earth Science Tech, an innovative biotech company focused on the cannabidiol (CBD), nutraceutical and pharmaceutical fields, medical devices, and research and development, today announces that as the Company is now an "OTC reporting issuer" in the Province of Québec, Canada, its board of directors is considering a dual listing of its common shares on the Canadian Securities Exchange (CSE).
Earth Science intends to file an application with the CSE in early 2019. Listing could happen as early as in the third quarter of the Company's current fiscal year and would require certain regulatory approvals that would allow Earth Science to market and sell its common shares to Canadian investors.
"The Canadian Securities Exchange has seen significant increases in trading, particularly in the cannabis and CBD space. We feel that by listing on the two exchanges we will attract more investors in both the U.S. and Canada, creating further liquidity and increasing our ability to raise capital in a different market. With our R&D operations conducted in Canada and our CEO residing in Canada, considering a listing on the CSE makes the most sense," states Earth Science president, director and Chairman Nickolas S. Tabraue.Read this and more news for ETST at http://www.financialnewsmedia.com/news-etst
Other recent developments in the cannabis industry include:
Cronos Group Inc. (NASDAQ:CRON) (TSX:CRON) came to a close Monday up slightly with a volume north of 19.9 million by the market close. Late last week, Cronos announced it has entered into a subscription agreement with Altria Group, Inc. (MO) pursuant to which Altria has agreed to make an approximately C$2.4 billion equity investment in Cronos Group (the "Transaction") on a private placement basis in exchange for common shares in the capital of the Company (the "Shares"). Altria will also receive Warrants of Cronos Group (the "Warrants"), that if fully exercised, would provide the Company with an additional approximately C$1.4 billion of proceeds. The Shares issuable to Altria pursuant to the Subscription Agreement will result in Altria holding an approximately 45% ownership interest in Cronos Group (calculated on a non-diluted basis), exercise of the Warrants would result in incremental ownership of 10% for a total potential ownership position of 55%. This strategic partnership provides Cronos Group with additional financial resources, product development and commercialization capabilities, and deep regulatory expertise to better position the Company to compete, scale and lead the rapidly growing global cannabis industry.
Pyxus International Inc. (NYSE:PYX) recently announced that its joint venture, Criticality, an integrated North Carolina-based industrial hemp company operating under North Carolina's industrial hemp pilot program, has launched "Korent," its new line of cannabidiol (CBD) oil products. Korent's full-spectrum oil drops are available in Vanilla Mint and Grape flavors, in multiple sizes and concentrations. Flavors were custom designed for hemp products in partnership with Purilum, LLC, a leading flavor manufacturer and Pyxus-affiliated company. "Criticality's science-based approach to the extraction, refinement and formulation of high-quality CBD products makes it well positioned in the market and presents a huge growth opportunity for both Criticality and Pyxus," said Pieter Sikkel, Pyxus' president, CEO and chairman of the board.
Aphria Inc. (NYSE:APHA) (TSX:APHA) recently announced its Board of Directors has appointed a special committee (the "Special Committee") of independent directors to review the Company's previously completed acquisition of LATAM Holdings Inc. (the "Acquisition"), which closed on September 27, 2018 , and confirm the Company's belief that it conformed with all Company policies and generally accepted corporate governance practices. The Company's Board reiterated its confidence in the process leading to the Acquisition, as well as in its Latin American operations and strategy. However, in the face of inaccurate and misleading accusations by certain short-sellers, whose sole interest is in profiting from a decline in the Company's shares, it is undertaking a comprehensive review, led by a Special Committee of independent directors of these, and any other, allegations in the interest of protecting Aphria shareholders.
MariMed Inc. (OTCQB:MRMD) recently announced that Navy Capital Green Fund, LP, made a $14.725 million investment in MariMed in November 2018. Navy Capital is the first US-based Long/Short Equity Hedge Fund dedicated solely to the legal cannabis industry. MariMed currently distributes its branded products in select states and is expanding licensing and distribution to numerous additional markets encompassing thousands of dispensaries. MariMed Inc. is one of the 17 top-performing public cannabis companies in the U.S. tracked on the U.S. Marijuana Index.
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