The global legal cannabis market is projected to hit $146.4 billion by end of 2025, according to research by Grand View Research. The legal cannabis industry is gaining traction worldwide due to high demand among consumers for recreational and medical products.
Recreational cannabis spending is projected to hit $35 Billion mark, while medical cannabis spending is anticipated to hit $19.1 Billion by 2027, according to Arcview Market Research and BDS Analytics. The North American market is projected to from $9.2 Billion in 2017 to $47.3 Billion by 2027.
At Market Exclusive, we are now tracking the major cannabis players and present a daily roundup of latest developments happening in the cannabis industry.
Cannabis News
Grown Rogue International (CSE:GRIN) has launched 3.5g nitrogen sealed flower jars that guarantee fresh connoisseur quality premium cannabis. The premium nitrogen fresh-sealed flower glass jars are an industry first and produce a noticeable “woosh†sound when opened, the company said in a press statement. Wooshing is reportedly an exciting thing, worthy of a press statement.
Cannabis branding and consulting company Medicine Man Technologies (OTCQX: MDCL) announced the unfortunate death of its co-founder and interim CEO Brett Roper. Roper co-founded Medicine Man Technologies in 2014 and led its development into one of the most respected branding and consulting partners to the cannabis market. “Brett was an extraordinary man,†Andy Williams, co-founder and chairperson of the board, said in a press statement, noting that “Brett was much more than a tremendous business partner, he was like a brother. He will be greatly missed.â€
1933 Industries (OTCQB: TGIFF), a licensed cultivator and producer of cannabis flower and concentrates and manufacturer of hemp/CBD products in Nevada, Colorado and California, has appointed Josh Taylor to the company’s business development division, He will be responsible for identifying and evaluating licensing and acquisition opportunities, establishing distribution networks for the company’s branded suite of products, and opening new markets for expansion in North America, according to the company.
Toronto, Canada-based Namaste Technologies (OTCMKTS: NXTTF) reported record-breaking gross revenue of more than $2.6 million across its global online platform, representing approximately 52% growth from October 2018 and approximately 30% growth year-on-year, excluding U.S. revenue derived during the month of November 2017. The company plans to import medical cannabis to the Canadian market through strategic supply agreements with Good Manufacturing Process certified international cultivators, subject to approval by Health Canada.
MYM Nutraceuticals (CSE: MYM) has signed a term sheet for a $25 million equity investment with New York-based private equity firm Alumina Partners. The investment, which MYM calls a key milestone for becoming a significant player in the cannabis space, will be used for the construction of both the Weedon and Laval projects in the province of Quebec and for general corporate purposes.
Australis Capital (CSE: AUSA) is investing $2 million in Quality Green by Australis in connection with Quality Green’s proposed going public transaction. Canfield, Ontario-based licensed cannabis producer Quality Green obtained its cultivation license in October 2017 with its first grow facility; expansion plans for a second facility are currently underway. With 385,000 square feet of production space, the company is poised to produce 35,000 kilos annually, and aligned to serve over 28,000 registered medical patients.
Aurora Cannabis (NYSE: ACB), which had received a license from Health Canada for the sale of cannabis softgel capsules, is set to begin shipping the capsules to both the Canadian medical and adult-use markets. The company expects to commence exports to international markets in early 2019.
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