• Legal Cannabis Market on the Rise as Canada and California Impact Sales

    • May 10, 2018
    • Posted By : admin
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    Data provided by Energias Market Research, indicates that the global medical cannabis market is anticipated to grow significantly from USD 8.28 billion in 2017, to USD 28.07 billion in 2024 and at a CAGR of 19.1% from 2018 to 2024. There are several factors that drives the market. Including advances of the medical cannabis and increasing recognition of medical benefits, stronger demand for cannabis in the treatment of various diseases, and rising number of research and development activities. Sales of cannabis products for recreational use are also expected to increase, as California’s new recreational cannabis laws went into effect earlier this year. While California is the largest market, Canada is projected to show strong sales as well. Deloitte’s report projects the Canadian market will be worth at least $5B in sales in 2018. Crop Infrastructure Corp. (OTC: CIICF), Cronos Group Inc. (NASDAQ: CRON), MedReleaf Corp. (OTC: MEDFF), Namaste Technologies Inc. (OTCQB: NXTTF), Supreme Cannabis Company, Inc. (OTC: SPRWF)

    According to CBC, Canada is one of only two countries, together with the Netherlands – that currently exports cannabis, or allowing firms in Canada to take instant benefit of recent medical cannabis legalizations in more than 20 countries. CBC reported that the, “offerings in today’s Canada medical marijuana market differ little from those used recreationally – the smokable plant and, more recently, oil extracts. More than 70 companies have licenses from the federal drug regulator, Health Canada, to cultivate, produce and sell medical marijuana, with more than half those licenses granted in 2017 or 2018.”

    Crop Infrastructure Corp. (OTC: CIICF) also listed on the Canadian Securities Exchange under the Ticker (CSE: CROP). Just earlier today the company announced breaking news that, “it has entered into a Membership Purchase Agreement dated May 7th 2018 (the “Agreement”) with HUMBOLDT HOLDINGS LLC (“Humboldt“), a limited liability company incorporated under the laws of State of California, whereby the Company has agreed to advance up to US$2,000,000 to Humboldt for land and equipment purchased and the development of a 30,000 square foot greenhouse project intended for lease and brand licensing by Humboldt to licensed cannabis tenant growers (each, “Tenant”) in return for a 30% interest in Humboldt.

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