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UWholesale cannabis pricing dichotomy between U.S. states widens. Recreational use far outstripping medical use in fully legalized markets. More players eyeing U.S. public markets for potential listing. Robust merger and acquisition activity continues in North American markets.
Colorado’s retail marijuana sales reach $908.8m for the nine- month period ending September 30, 2018 representing a 12% increase compared to the equivalent period in 2017. Conversely Colorado’s medical marijuana sales declined 22% to $249m according to data released by the Colorado Department of Revenue.Read full release here
Whole Foods Market’s published its most anticipated innovative food trends for 2019 sighting hemp-infused products to be among the food influences expected to take off in the next year. The report noted that there is “a new interest in the potential benefits stemming from other parts of hemp plants that has many brands looking to explore the booming cannabis biz. While CBD oil is still technically taboo (prohibited in food, body care and dietary supplements under federal law), retailers, culinary experts and consumers can’t miss the cannabis craze when visiting food industry trade shows, food innovators conferences or even local farmers markets.”Read full announcement here.
Flow Kana, the premier sustainable sun-grown cannabis provider embracing Northern California’s independent craft farm ecosystem, has commanded the number one selling cannabis flower brand position for three quarters in a row in California, according to data by BDS Analytics. In September alone, estimates by BDS Analytics showed that Flow Kana’s retail sales outpaced the competition by nearly three times. Flow Kana continues to gain aggressive market share in a fast moving industry, demonstrating that the California consumer has a growing preference for cannabis sungrown on small craft family farms from Northern California’s Emerald Triangle growing region. Read full press release here.
Ohio’s first harvested marijuana plants are expected to be processed, tested and on dispensary shelves in December according to the Ohio Department of Commerce. It is expected that these will be small amounts to be followed by large amounts that will be made available Ohio dispensaries starting early in 2019. Ohio approved a medical marijuana program in 2016 and targeted a September 2018 launch. But the program was beset by problems, including initial concerns that physicians would be reluctant to recommend medical cannabis.Read the full story here
The World Health Organization’s (WHO) Expert Committee on Drug Dependence (ECDD) met last week in Geneva to review evidence regarding the appropriateness of international control of five psychoactive substances including cannabis and cannabis-based preparations. The recommendations will be communicated to the UN Commission on Narcotic Drugs (CND) in early December 2018. Member States who are part of the CND will then vote on whether to accept these recommendations at the 62nd session of CND in March 2019. Read full story here
Canadian listed entity, Invictus MD Straregies Corp. (Invictus: TSXV: GENE; OTCQX: IVITF; FRA: 8IS1) has acquired 100% of the outstanding shares of 0989561 B.C. Ltd. (“Canandia”) as per the deal reached in May. Canandia features two properties in British Columbia. The first includes a cultivation, production and research facility, recently licensed under the Cannabis Act and Cannabis Regulations, and the second includes 32 acres of buildable land, expandable up to 1 million square feet of production capacity. Read full press release here
Invictus also announced that it has entered into a non-binding Letter of Intent with GTEC Holdings Ltd.(TSXV:GTEC) (OTC: GGTTF) (“GTEC”) for the acquisition of all of the issued and outstanding shares in an all-share transaction valued at approximately $100 million. Should this acquisition be completed it will create Western Canada’s largest indoor vertically integrated cannabis company.
35 Companies now qualify for inclusion in the Public Cannabis Company Revenue Tracker (PCCRT) managed by New Cannabis Ventures which ranks the top revenue producing cannabis stocks that generate industry sales of more than US$2.5 million per quarter. The top companies on the PCCRT are Aurora Cannabis, Canopy Growth and MPX Bioceutical. Read the full report here
Harvest Health & Recreation Inc. (“Harvest”), a vertically integrated cannabis company based in Arizona with one of the largest footprints in the United States, announced the acquisition of CBx Enterprises (“CBx”), whose technology is utilized by Evolab, CBx Sciences and CBx Essentials. Harvest now holds exclusive national rights to CBx’s intellectual property, including all technology, methodologies, trademarks and formulations.Read full press release here