Countries Around the Globe Soften Their Stance on Cannabis use

Countries Around the Globe Soften Their Stance on Cannabis use

PR Newswire

NEW YORK, Feb. 22, 2019

 

FinancialBuzz.com News Commentary

NEW YORK, Feb. 22, 2019 /PRNewswire/ -- Countries all over the world such as Canada, Uruguay, Australia, and South Africa have already moved to fully legalize cannabis for medical use, as the topic continues to draw debate. Currently, cannabis is predominately being used to treat chronic pain among patients as an alternative to opioids. However, cannabis is also being leveraged to treat maladies like cancer, epilepsy, Alzheimer's, and various mental conditions. The beneficial health effects of cannabis have even prompted South Korea to legalize certain medicinal cannabis treatments, making it the first East Asian country to allow the plant's medical use in some form. The legalization in South Korea marks a major milestone for the global industry, considering the harshly enforced regulations in East Asian culture. According to data compiled by Mordor Intelligence, the global cannabis market was valued at USD 7.7 Billion in 2016 and is expected to reach USD 65 Billion by 2023. Additionally, the market is projected to register a robust CAGR of 37% during the forecast period as well. The market is predominately being accelerated by the widespread legalization efforts currently ongoing around the globe. Mainly, countries are exploring opportunities within the medical sector, however, other nations like the U.S. and Canada are expected to dominate the recreational sector. Weekend Unlimited Inc. (OTC: WKULF) (CSE: POT), Liberty Health Sciences Inc (OTC: LHSIF) (CSE:LHS),  VIVO Cannabis Inc. (OTC: VVCIF) (TSX-V: VIVO), Nightfood Holdings, Inc. (OTC: NGTF), Baristas Coffee Company Inc. (OTC: BCCI)

The matter of legality revolving around cannabis in Asia is uncertain, however, multiple countries in Europe and South America have already legalized, or are moving to, legalize cannabis on some level. Many are beginning to understand the beneficial and therapeutic effects of cannabis, which is prompting countries to consider the plant as a legitimate medical treatment. As research and development continue to progress, more nations are projected to move to legalize cannabis. However, certain regions view medical cannabis through different lenses, varying on their tolerance of flower and oil use or which medical condition the plant can be used to treat. Despite the restrictions, the broad adoption of medical cannabis is allowing the industry to grow gradually. "The vast majority of [medical marijuana programs] look completely different from the U.S. You can't go in and buy a gummy bear and have that be considered medicine. The Canadian approach to regulation and product differentiation is much more reflective of what we're likely to see internationally," said Bethany Gomez, Director of Research for Brightfield Group, via Forbes, "Every country is going to be cautious about legalizing a drug that has been demonized for so many years," she said.

Weekend Unlimited Inc. (OTC: WKULF) (CSE: POT) is also listed on the Canadian Securities Exchange under the ticker (CSE: POT). Yesterday, the Company announced, "the signing of a definitive agreement on 13 February 2019 to acquire R&D Pharma's Jamaican interests, has completed the arms-length acquisition of R&D Pharma.

'We are thrilled to join the tremendous team at Weekend Unlimited under Paul Chu's leadership. With our Tier-3 cultivators license, our active focus is on medical tourism in Jamaica, having designed and constructed the first of our 'Ganja Café's' within a short tour bus ride from the cruise ship terminals in Ocho Rios,' said Richard Bailey, President of R&D Pharma.

'We just completed a harvest last week on our 98-acre property to stock the Ganja Café for first tourism visits beginning on May 15th. The Ganja Café will be stocked with branded Jamaican strains, extracts, and infused products that will serve as a precursor to our future wholesale distribution in Jamaica and internationally,' added Mr. Bailey

Weekend issued 80 million shares at a deemed price of $0.25 as well as making available 25 million warrants to the shareholders of R & D Pharma. Each warrant entitles the holder to acquire an additional share for $0.35 for a period of 2 years. Approximately 49 million shares are subject to a voluntary escrow agreement that sees 20% released at closing and the balance in 6 equal instalments over 3 years.

About Weekend Unlimited Inc: Weekend Unlimited is capitalizing on its vast industry relationships to establish a lifestyle brand featuring premium products and delivering life's highest moments. The company aggregates and scales small to medium brands, primarily in the categories of flower, extracts and edibles. Weekend Unlimited brands have best of class operations, distribution and strong revenue trajectories, making them ideal candidates for the deployment of capital and expertise through access to technologies, infrastructure and centralized systems. Learn more at www.weekendunlimited.com"

For our latest "Buzz on the Street" Show featuring Weekend Unlimited Inc. recent corporate news, please head over to: https://www.youtube.com/watch?v=HN3RdDnhkYM

Liberty Health Sciences Inc (OTCQX: LHSIF) (CSE: LHS) is the cannabis provider committed to providing a trusted, high quality cannabis experience based on our genuine care for all cannabis users and a focus on operational excellence from seed to sale. Liberty Health Sciences Inc. recently announced that it held a grand opening celebration on February 19 for its new dispensary opening in North Miami, and increasing the number of the Company's dispensaries in Miami to two, and in the state of Florida to nine. Located at 10795 Biscayne Blvd., Miami, FL., the new dispensary will be open Monday through Friday, 10 a.m. to 7 p.m., Saturday, 10 a.m. to 5 p.m., and Sunday 12 p.m. to 5 p.m. Strategically situated in a high traffic area, the new dispensary is located on the main corridor (Biscayne Blvd.) that connects downtown Miami and midtown between North Miamiand Aventura. The store will also service the neighboring cities of Edgewater, Little River, and Miami Shores, and is located near potential customers living in Magnolia Park, Bay Point, Morningside, Bayside, Belle Meade, Shorecrest, and Palm Grove. "Liberty continues to fulfill its promise to provide our Florida customers with access to the highest-quality medical marijuana throughout the state, including increasing our capacity to provide premium quality products developed at our Liberty 360 Innovation Campus in Gainesville, where we expect to add an additional 160,000 square feet of cultivation space this year," said George Scorsis, Chief Executive Officer of Liberty. "Our new North Miami location will offer the community state-of-the-art waiting and consultation rooms for medical marijuana educational meetings and provide access to Liberty's line of superior cannabis products in a 4,270 square-foot modern and safe environment to which our customers have become accustomed."

VIVO Cannabis Inc. (OTCQX: VVCIF) (TSX-V: VIVO), based in Napanee, Ontario, is recognized for trusted, high-quality products and services. - VIVO Cannabis Inc. recently announced that the Company's subsidiary, ABcann Medicinals Inc., has received approval from Health Canada for its most recent license amendment request allowing for the sale of cannabis oil.  The cannabis oil sales license allows the Company to significantly expand its product lines for medical cannabis patients and adult-use consumers. ABcann's high-quality oil products are expected to be a core component of the Beacon Medical™ and Lumina™ brands, in addition to the cannabis oil already offered by the Company's Canna Farms™ brand. "We believe that cannabis oil will be the preferred method of treatment for medical cannabis patients and adult-use consumers with specific wellness objectives," said Barry Fishman, Chief Executive Officer of VIVO. "The addition of cannabis oil products to our premium medical and adult-use brands will provide consumers with medical-grade products of the high-quality VIVO customers have come to expect. Looking forward, the sales license is expected to accelerate product innovation, leading to a broader product offering for our customers."

Nightfood Holdings, Inc. (OTCQB: NGTF), owns Nightfood, Inc. and MJ Munchies, Inc.  MJ Munchies, Inc., a subsidiary of Nightfood Holdings, Inc. and Global Consortium, Inc. (OTC: GCGX), have recently announced that the parties have entered into a Letter of Intent whereby Global Consortium subsidiary Infused Edibles would receive an exclusive license to manufacture and distribute marijuana and CBD-infused products under the Half-Baked™ mark owned by MJ Munchies. With commercial brands in the marijuana space increasingly frustrated by restrictive government advertising policies, both companies believe having the right brand name provides a distinct competitive advantage at retail in this rapidly-growing market. "We're excited to work with a company that shares our vision for national awareness and distribution," added MJ Munchies Chief Executive Officer Sean Folkson. "They have a track record of success in manufacturing and distributing a varied line of products that succeed at retail.  We've been working on this for some time, which is why we have not been commenting publicly about the MJ Munchies side of our company.  Now, the broad strokes are in place, and we're going to work together to quickly finalize the agreement."

Baristas Coffee Company Inc. (OTC: BCCI) is a national Coffee Company that is recognized throughout the US. Recently, Baristas launched new "EnrichaRoast Canamo" Hemp coffee targeted directly to Spanish speaking communities that are seeking to use high-quality full spectrum hemp derivative CBD. Hispanic/Latinos are reportedly the second largest ethnicity among CBD users. Barry Henthorn Chief Executive Officer stated: "With over 40 million Spanish speaking residents in the US and reportedly 527 million speakers worldwide, coupled with a product with the potential to benefit consumers throughout the globe, Baristas is committed to making its products accessible to as many people as possible. By marketing directly to the Spanish speaking populations in the US and beyond we will be able to reach a much broader market."

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