NEW YORK, March 29, 2019
NEW YORK, March 29, 2019 /PRNewswire/ -- Following the recent spur of vocal movements leading to the legalization of cannabis, an increase in consumers using cannabis, or products deriving from the plant, has been widely reported. In 2017, a report by the United Nations estimated that nearly 238 million people had used cannabis, as the North American segment alone accounted for 22% of those users. Primarily, the North American segment dominates the global cannabis market because the U.S. is the biggest revenue driver for the market. Yet, the U.S. still has not federally legalized cannabis. Currently, only 33 states and the District of Columbia have legalized cannabis in some form. Canada also represents a major cannabis marketplace after the country passed legislation in late 2018 to legalize cannabis entirely. Several other nations have also moved to legalize cannabis for medical use, meanwhile, some have also decriminalized the plant, allowing for personal consumption in moderate amounts. Countries such as Australia, Argentina, Columbia, Chile, Germany, the Netherlands, and Spain have all implemented cannabis legislation. Now, as more countries begin to explore opportunities within the cannabis market, others may be influenced to do so as well. The cannabis industry still remains heavily restricted under international cannabis regulations, but the growing advocacy is overpowering and leading to an explosive global market. According to Verified Market Intelligence, the global cannabis market was valued at USD 42.2 Billion in 2017. By 2025, the market is projected to reach USD 466.81 Billion while growing at a CAGR of 35.3% during the forecast period from 2018 to 2025. Nerds On Site Inc. (OTC: NOSUF) (CSE: NERD), Auxly Cannabis Group Inc. (OTC: CBWTF) (TSX-V: XLY), Liberty Health Sciences Inc (OTC: LHSIF) (CSE: LHS), VIVO Cannabis Inc. (OTC: VVCIF) (TSX-V: VIVO), United Cannabis Corporation (OTC: CNAB).
Cannabis legalization continues to grow in popularity every single year. In 2018, 62% of Americans advocated for the legalization of cannabis, compared to approximately 30% in the early 2000s. Nowadays, many are supporting the use of medical cannabis due to the various health benefits cannabis is associated with. Notably, researches have concluded that cannabis can aid people suffering from medical conditions such as cancer, chronic pain, arthritis, Alzheimer's, Parkinson's, and epilepsy. By application, the medical segment controls approximately 67.2% of the global market share but the recreational market is expected to prevail in the future, due to U.S. states like California, Colorado, and Nevada. Specifically, California, Colorado, and Nevada all deliver over billions of dollars in revenue combined. Via Forbes, Scott Greiper, the President of Viridian Capital Advisors, said that the pace of legalization is accelerating around the world, not just in the U.S., and for both medical and recreational marijuana. Greiper highlights that the biggest drivers for creating a large consumer market are the lifting of the stigma of marijuana; globalization; more advanced technology for agriculture, genetics, biotechnology, and the extraction business coming into a mom-and-pop industry. "This is a very dynamic marketplace for investors and acquirers," said Greiper. "This is driving companies to become more efficient and more profitable operators."
Nerds On Site Inc. (OTCQB: NOSUF) (CSE: NERD) also listed on the Canadian Securities Exchange under the ticker (CSE: NERD). Yesterday, the Company introduced, "Cannabis IT in a Box, the "Go To" solution - delivered, installed and serviced for SME businesses in the cannabis industry.
'NERDS is perfectly positioned with its expertise and reach to be the largest solution provider to the burgeoning cannabis industry, with its thousands of retail operations launching across North America. We have seen an increase in demand and as a result have focused in on a scalable solution, Cannabis IT in a Box, designed to be the most comprehensive solution in the business. Systems, information, security, point of sale come together in a turn key solution that we install and service. We provide best practices and ensure regulatory compliance,' said Charlie Regan, CEO.
The Cannabis IT division of NERDS delivers the most experienced and agile IT solutions company, serving small and medium sized businesses, to new and existing operators in the Cannabis space. The turn key Cannabis IT in a Box solution is designed to get businesses up and running efficiently, in full compliance, and with instant access to the information they need to serve customers.
'With legalization across Canada and tremendous growth state by state in the US, the need and the opportunity in the cannabis industry for Cannabis IT in a Box marries with both our Canadian growth strategy and our US expansion trajectory,' added Mr. Regan.
About Nerds On Site: Nerds on Site, a company founded in 1995, specializes in providing cost effective, leading edge solutions to Small and Medium sized Enterprise (SME), serving as the complete SME IT solution specialists. Nerds on Site was established in London, Ontario with current annual revenues of approximately $10,000,000. The company services over 12,000 clients per year with a superb 96.5% customer satisfaction rating. NOS's business model is based on Nerds sub contracts in Canada and a Franchise model for USA expansion. NOS was hand-picked by Apple Inc. in 2016 to become its mobile enterprise partner, pilot project is ongoing."
For our latest "Buzz on the Street" Show featuring Nerds On Site Inc. recent corporate news, please head over to: https://www.youtube.com/watch?v=rFuEBDOjsqU
Auxly Cannabis Group Inc. (OTCQX: CBWTF) (TSX-V: XLY) is a vertically integrated cannabis company with diverse operations across Canada and Uruguay. Auxly Cannabis Group Inc. recently announced that the Company has signed a definitive agreement with 2368523 Ontario Limited (d/b/a) Curative Cannabis. The Company will acquire 46% of the common shares of Curative and enter into a long-term cannabis purchase and sale agreement to fund the construction and development costs of Curative's cannabis cultivation facility in Chatham-Kent, Ontario. The Facility is designed as a purpose-built indoor facility for the production of ultra-premium cannabis product. With an initial footprint spanning approximately 30,000 sq. ft., the first phase of the Facility is expected to yield approximately 2,900 kg of cannabis per annum. Curative anticipates bringing a unique ultra-premium cannabis product to Canadian recreational cannabis consumers through its proprietary genetics database of over 90 stable, and highly sought-after, cannabis strains. Hugo Alves, President and Director of Auxly Cannabis Group commented: "Curative is a highly valued partner to Auxly, having been a part of the Auxly family since the inception of the Company. That being said, we could not be more pleased to have reached this stage of the project and to be signing a definitive agreement with Curative. Curative's optimization of indoor cultivation combined with their unique genetics will provide a highly desirable product offering to the Canadian recreational cannabis markets and to the Auxly platform as a whole. We are pleased to be working with Dave, Scott and their team as they build out additional phases of this project and bring their product to market.
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 had received Florida Department of Health (DOH) approval to sell whole flower smokable products to patients in Florida, making it one of the first companies in the state to provide smokable medical marijuana in all of its dispensaries. The Company is awaiting DOH approval to provide pre-rolls to patients. Patients who receive medical marijuana from their doctor will now be able to smoke the substance legally under a bill (SB 182) signed into law last week by Governor Ron DeSantis revoking a ban on smoking medical marijuana. More than 70% of voters approved a ballot measure in 2016 legalizing marijuana for medical use, but the Florida Legislature passed a bill a year later that banned it in smokable forms. The new law provides patients the ability to access medicine in the form their doctor determines best for them, whether it's smoking medical marijuana or utilizing other delivery systems. "This is truly a historic moment not only for Liberty Health Sciences but for the State of Florida," said Victor E. Mancebo, interim Chief Executive Officer of Liberty. "Receiving DOH approval – the same week that Governor DeSantis signed SB 182 allowing patients registered under the Department of Health to smoke medical marijuana – is monumental for Liberty and its ability to offer patients an additional medicinal option. Patients in Florida have been eager for this bill to pass as there is a fundamental need for this medicine in all of its forms."
VIVO Cannabis Inc. (OTCQX: VVCIF) (TSX-V: VIVO), based in Napanee, Ontario, is recognized for trusted, high-quality products and services. It holds production and sales licences from Health Canada and operates world-class indoor cultivation facilities with proprietary plant-growing technology. VIVO Cannabis Inc. recently announced that the Company's wholly-owned subsidiary, Canna Farms Ltd., had received approval from Health Canada to begin cultivation in the expansion of its Yale Road facility in Hope, BC, resulting in a doubling of the Company's cultivation capacity in the province. equipment expected to be incorporated into the facility and brought on-line mid 2019. Cultivation in the expanded area is expected to commence in May 2019. "Today's approval of the Hope, British Columbia expansion is in addition to the Napanee, Ontario capacity increase approved by Health Canada yesterday," said Barry Fishman, Chief Executive Officer at VIVO. "With the additional cultivation from Hope, VIVO's current annual production capacity is now more than 8,000 kilograms with a goal to reach 11,000 kilograms later in 2019."
United Cannabis Corporation (OTCQB: 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. United Cannabis Corporation recently announced that it has entered into a Joint Venture with Blue Water Green Bridge, LLC (Blue Water) a South Carolina company, to establish an industrial hemp processing plant. The new venture is named Magnolia Botanicals LLC. Initially, Magnolia will provide industrial hemp extraction services for South Carolina farmers working under the 2018 Federal Farm Bill and the South Carolina Department of Agriculture's Industrial Hemp Pilot Program. The Company expects to expand the services offered to include purification, testing and processing, as well as packaging, fulfillment, and secure storage capabilities. Longer term, Magnolia intends to cultivate and grow industrial hemp in the State. Earnest Blackmon, Chief Executive Officer of United Cannabis, commented on the announcement, ''The Company's successful expansion into Colorado's industrial hemp sector was the impetus for us to seek other regions where market demand was not being met and our expertise could provide value. Working in conjunction with Blue Water not only gives us a foothold in the South East's burgeoning industrial hemp market, it also provides us with a strong financial partner.''
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