Cannabis Revolution Picking up Steam with Introduction of Newest Products and Joint Ventures
8:30 am ET November 20, 2018 (PR Newswire)
As the cannabis industry continues to skyrocket behind recent legalization in Canada as well as enhanced legalization momentum in the United States, the number of the latest and greatest cannabis-based products continue to rise and gaining momentum. Companies are producing unique and innovative products to maximize profit margins with rising revenues as well acquiring or jumping into joint ventures. Cannabis trade shows are becoming a regularity, attracting thousands upon thousands of attendees as industry leaders exhibit their products and market to the masses, aiming to grab a piece of the billion dollar space. One step into the recent annual Marijuana Business Conference just held in Las Vegas and one was able to witness the massive growth of the industry.
Active Companies from around the market with current developments this week include:
Pyramidion Technology Group, Inc. (OTC
YTG), MariMed Inc. (OTC:MRMD), Neptune Wellness Solutions Inc. (NASDAQ:NEPT) (TSX:NEPT), Canopy Growth Corporation (NYSE:CGC) (TSX:WEED), Charlotte's Web Holdings Inc. (CSE:CWEB) (OTC:CWBHF).
MariMed Inc. (OTCQB:MRMD) and GenCanna Global Inc. recently announced that the companies have entered into an agreement whereby MariMed has invested $30 million in GenCanna, and the companies have created a strategic partnership, including a long-term supply agreement. The partnership expands MariMed's robust product development capabilities and strengthens GenCanna's position as a global leader in the Hemp CBD industry. MariMed, a multi-state operator that develops and manages cannabis facilities and branded product lines, intends to create a product and branding business unit focused on the development and distribution of Hemp CBD-derived products. GenCanna is deploying the proceeds of the investment to dramatically expand its production capacity, and extend its position as the global leader in high-quality hemp CBD production, with fully legal sales throughout the U.S. and internationally. In recent years, GenCanna has assembled top-quality genetics for cultivating hemp, and has established production processes that meet or exceed Good Manufacturing Practices (GMP) standards, as well as the highest FDA standards.
MariMed CEO Robert Fireman commented:
“The demand for CBD products is sky-high and increasing, with no end in sight because consumers are seeing and experiencing the positive health benefits from oils, topicals, edibles, drinks and more. GenCanna is one of the very few hemp CBD companies that can produce to the GMP standards or food safety standards," the CEO said.
"This partnership with GenCanna puts us in position to satisfy the demand, not only in the states where cannabis is legal, but across the U.S. with the anticipated passage of the Hemp Farming Act of 2018 that will enable hemp products to be transported across state lines."
That legislative development will ease the distribution of hemp CBD products and make economies of scale easier to achieve, as MariMed would no longer be required to have production facilities in each state, as is required with cannabis-derived CBD, Fireman said.
https://invest.ameritrade.com/grid/p/site#r=j...324p2449-1
8:30 am ET November 20, 2018 (PR Newswire)
As the cannabis industry continues to skyrocket behind recent legalization in Canada as well as enhanced legalization momentum in the United States, the number of the latest and greatest cannabis-based products continue to rise and gaining momentum. Companies are producing unique and innovative products to maximize profit margins with rising revenues as well acquiring or jumping into joint ventures. Cannabis trade shows are becoming a regularity, attracting thousands upon thousands of attendees as industry leaders exhibit their products and market to the masses, aiming to grab a piece of the billion dollar space. One step into the recent annual Marijuana Business Conference just held in Las Vegas and one was able to witness the massive growth of the industry.
Active Companies from around the market with current developments this week include:
Pyramidion Technology Group, Inc. (OTC
YTG), MariMed Inc. (OTC:MRMD), Neptune Wellness Solutions Inc. (NASDAQ:NEPT) (TSX:NEPT), Canopy Growth Corporation (NYSE:CGC) (TSX:WEED), Charlotte's Web Holdings Inc. (CSE:CWEB) (OTC:CWBHF). MariMed Inc. (OTCQB:MRMD) and GenCanna Global Inc. recently announced that the companies have entered into an agreement whereby MariMed has invested $30 million in GenCanna, and the companies have created a strategic partnership, including a long-term supply agreement. The partnership expands MariMed's robust product development capabilities and strengthens GenCanna's position as a global leader in the Hemp CBD industry. MariMed, a multi-state operator that develops and manages cannabis facilities and branded product lines, intends to create a product and branding business unit focused on the development and distribution of Hemp CBD-derived products. GenCanna is deploying the proceeds of the investment to dramatically expand its production capacity, and extend its position as the global leader in high-quality hemp CBD production, with fully legal sales throughout the U.S. and internationally. In recent years, GenCanna has assembled top-quality genetics for cultivating hemp, and has established production processes that meet or exceed Good Manufacturing Practices (GMP) standards, as well as the highest FDA standards.
MariMed CEO Robert Fireman commented:
“The demand for CBD products is sky-high and increasing, with no end in sight because consumers are seeing and experiencing the positive health benefits from oils, topicals, edibles, drinks and more. GenCanna is one of the very few hemp CBD companies that can produce to the GMP standards or food safety standards," the CEO said.
"This partnership with GenCanna puts us in position to satisfy the demand, not only in the states where cannabis is legal, but across the U.S. with the anticipated passage of the Hemp Farming Act of 2018 that will enable hemp products to be transported across state lines."
That legislative development will ease the distribution of hemp CBD products and make economies of scale easier to achieve, as MariMed would no longer be required to have production facilities in each state, as is required with cannabis-derived CBD, Fireman said.
https://invest.ameritrade.com/grid/p/site#r=j...324p2449-1
