Consumers and investors are getting excited about cannabis. Many reports and articles have exposed the fact that it's no secret that pot has taken off like wildfire in terms of popularity over the last several years. An article in MarijuanaBreak pointed out : "… the monstrous impending demand for weed that's about to hit the U.S. and Canada in the coming months and years – millions upon millions of new pot users are soon going to be looking to buy cannabis products in legal dispensaries, and this is causing a little bit of a mild panic among the folks who are responsible for growing all that weed. Basically, they're starting to seriously wonder how they're going to supply such a whirlwind of a demand. To put the numbers in perspective, Canada only had about 180,000 medical marijuana patients to supply in 2017 (medical weed has been legal in Canada since 2001), and a grand total of only 45 legal growers. That works out to about 4,000 patients per grower, but even at such a low volume a lot of the medical dispensaries across the country found it tough to keep their shelves stocked – many would run out of product altogether on a fairly routine basis."
The article continued by asking how in the world are suppliers going to fill that massive "green void," if they've had trouble supplying less than 200,000 people with weed for the last 15+ years? They think that the supply will meet the demand, saying: "As it turns out, Canada is not alone in facing the overwhelming task of supplying millions of new people with quality weed. Colorado went through the exact same thing when they legalized recreational pot back in 2014, and they're only now starting to catch up to the supply-to-demand ratio.
Cannabis Strategic Ventures, Inc. announced the first round of product sales from the inaugural harvest of its
"We are excited to start selling product from NUGS FARM inaugural harvest. Booking our first round of sales is an exciting milestone for our Company and all stakeholders," said Simon Yu, CEO, Cannabis Strategic Ventures. "Our team is overwhelmed with the level of interest in NUGS FARM cannabis flower. We believed this a testament to the quality of our high-tech cultivation process and our commitment to quality, growth and infusing the California legal markets with exceptional cannabis flower and products."
NUGS FARM is a high-tech greenhouse operation located in an agriculturally rich region of California. NUGS FARM holds 19 cultivation, manufacturing and distribution licenses issued by the Bureau of Cannabis Control in the state of California. The combination of natural sunlight and high-tech mixed light greenhouses will allow NUGS FARM to harvest quality cannabis flower multiple times per year.
Recent industry figures from New Frontier Data estimate that overall sales within the legalized U.S. cannabis industry are expected to reach $13.6 billion throughout 2019, for a 32% increase over 2018 totals worth $10.3 billion. Cannabis Strategic Ventures plans to expand its operations within this burgeoning market by adding on-site processing and manufacturing for oils, extracts, pre-rolls and more.
Other recent developments and major influences in the cannabis industry include:
Terra Tech Corp. a vertically integrated cannabis-focused agriculture company, recently announced that it entered into an agreement to sell 100% of the assets of its Blüm Reno dispensary located at 1085 S Virginia St Suite A, Reno, NV 89502, including the building where the dispensary is located, for a purchase price of $15,000,000.
Terra Tech's Blüm Reno dispensary has been operational since January 2017 and provides cannabis products to the local medical and adult-use markets, including the Company's proprietary IVXX™ brand of premium medical cannabis, flowers, shatters, waxes and oils, among other high-quality cannabis products from a range of reputable providers of superior grade medical cannabis.
CV Sciences, Inc. recently announced further expansion of its industry-dominating PlusCBD™ Oil brand into the specialty retail channel with The Vitamin Shoppe, Inc. CV Sciences' expansion broadens distribution and availability of a broad assortment of the Company's best-selling PlusCBD™ Oil products. Distribution across The Vitamin Shoppe's national footprint includes both topical products, such as PlusCBD™ Oil Extra Strength Balm and recently launched PlusCBD™ Oil Roll-On, as well as PlusCBD™ Oil full spectrum hemp extracts including Gold Formula Softgels, Gold Formula Drops, and Total Plant Complex Sprays and Capsules. PlusCBD™ Oil products will be available beginning on September 22, 2019 at 383 Vitamin Shoppe stores in 30 U.S. states and Puerto Rico. This expansion brings CV Sciences' PlusCBD™ Oil distribution to more than 5,300 retail locations throughout the U.S.
MariMed Inc. has recently received a special permit to allow its Panacea Wellness™ dispensary in Middleborough to merchandise cannabis products under the Massachusetts adult use program. It will now proceed at the Cannabis Control Commission (CCC) for adult use final approval.
The dispensary has already received town approval for medical use. The state's Cannabis Control Commission is anticipated to give the go-ahead to open Panacea Wellness under the medical use program following the inspection of the dispensary earlier this week.
Panacea Wellness has worked with the Town of Middleborough to secure all necessary
KushCo Holdings, Inc. recently announced that Nick Kovacevich, Chief Executive Officer
It is recommended that investors pre-register and run the online system check to expedite participation and receive event updates. Recent Company Highlights - August 22, 2019 – Secured a $50 million credit facility from Monroe Capital LLC to be used for working capital, continued organic growth and potential acquisitive activities - August 20, 2019 – Bolstered Advisory Board with the addition of Pete Kadens, former CEO of Green Thumb Industries - August 6, 2019 – Launched Retail Services Division to connect CBD brands to national retail chains - July 8, 2019 – Announced filing of application to list on The NASDAQ Global Select Market.
In April 2020, My Green Network (MyGN) will launch a dynamic platform for the first, true cannabis coworking space to empower anyone from entrepreneurs to
Aurora Cannabis Inc., the Canadian company defining the future of cannabis worldwide, announced that it had closed its previously announced amended and
Capital raises in the cannabis industry may be roughly the same in terms of absolute numbers, but the data shows the amount being raised has grown
Canndescent, a Santa Barbara, Calif.-based cultivator of premium cannabis, raised $27.5m in Series C funding. The round was led by Green Acre Capital, with
Puration, Inc. announced the company has launched a pre-marketing campaign of its new CBD Infused beer, coffee, and tea beverages. PURA recently implemented
Over the past several decades, the retail industry has drastically changed due to the development and propagation of e-commerce. Today, many consumers tend to