The global cannabis markets have been experiencing a rapid growth rate in the last few years and they are projected to rise even faster and further in the coming years. Sometimes, though, it's hard to get the experts agree to the numbers. But they do all agree that revenues will continue to rise. For example, a report from Green Entrepreneur forecasts $40 billion sales in the global cannabis markets by 2024. Another report from Grandview Research projected that the global legal marijuana market size is expected to reach $66.3 billion by the end of 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 23.9% during the forecast period. Increasing legalization and use of marijuana in medical as well as recreational applications is expected to promote the growth… and yet another report from Mordor Intelligence stated that the cannabis market was valued at USD $14.5 billion in 2018, and it is projected to reach $89.1 billion by 2024, with a CAGR of 37%.
Green Entrepreneur continued saying: "The U.S. remains to be the leader in terms of cannabis market size. The U.S. cannabinoid market is expected to soar, helped by a number of developments, such as the legalization of hemp via the 2018 Farm Bill. The 'State of Legal Cannabis Markets' report estimates that the total cannabinoid market in the U.S. -- which includes hemp-derived CBD -- will reach $44.8 billion by 2024. The largest share of this market will be allocated to dispensaries that should be present in all states and U.S. territories by that time, BDS and Arcview said. It is followed in size by sales of CBD in both retail brick-and-mortar and online settings."
Player's Network, Inc. (GLFI, Inc.) has been established to finance and manage international cannabis operations in Jujuy Argentina, has announced today that it will be conducting an initial first round capital offering of up to $4,200,000 in a private offering.
Previously announced, PNTV signed a Management Agreement with GLFI to operate, fund and expand International markets starting with 400 acres of prime farmland in Jujuy Argentina. PNTV filed a Form 8-K on August 6, 2019, which the reader is referred to, with the details of the Management Agreement between PNTV and GLFI.
GLFI was structured to not hold any US assets and by doing so is expected to provide two main benefits to PNTV shareholders. The first benefit of the structure will eliminate the restrictions that federally regulated institutional funding sources have on investing directly in US public cannabis companies, and secondly, by not holding US cannabis assets, the company will not be restricted from up-listing to a national exchange, like the Nasdaq Capital Market, once the Company meets the eligibility requirements to do so. (The Company has already reserved the symbol "GLFI" with Nasdaq, preparing the Company's first step of many to be eligible to list on a national exchange.)
The project in Jujuy, Argentina is the first of its kind and the only known partnership between a government and a private company to develop the cannabis industry. As mentioned above, a Form 8-K by PNTV was filed detailing the management agreement between PNTV and GLFI on the Jujuy project that is well underway and has already hit major milestones in the construction of its 20 greenhouse campus spanning 6 football fields, and its cultivation progress in Argentina that is expected, barring countervailing circumstances or a lack of capital, to harvest its first crop and have sales within 6 months.
Mark Bradley CEO of GLFI States; "Canadian cannabis companies such as Canopy Growth, Aurora Cannabis and Supreme Cannabis, to name a few, trade on US-listed national exchanges at market caps in the billions, and are able to be listed because they do not have any US cannabis holdings, which allows them to attract institutional investors who are prohibited from investing in US companies due to federal restrictions."
Bradley adds, "By positioning GLFI as an international management company with no US assets, our future plans are to be listed on a national exchange that should allow the same access to capital of these other companies, and give GLFI the ability to leverage its international opportunities structured to produce substantial revenues to qualify for a national exchange, which we believe will greatly benefit of our shareholders.
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