NEW YORK, August 7, 2018 /PRNewswire/ —
According to data provided by Technavio, the legal cannabis market is projected to grow at a steady CAGR of about 24% by 2021. The increasing popularity of cannabidiol (CBD) oil products is one of the primary growth factors for the market. The growing impact of online retailers is also expected to contribute significantly to the legal cannabis market. The research indicates that modern customers prefer to pay using digital payment methods, thereby avoiding time-consuming journeys and billing queues. As a result, manufacturers’ attention towards the internet-savvy customer segment and new online retail formats is expected to shift. Crop Infrastructure Corp. (OTC: CRXPF), Kaya Holdings Inc. (OTC: KAYS), NightFood Holdings Inc. (OTC: NGTF), Golden Leaf Holdings Ltd. (OTC: GLDFF), Puration Inc. (OTC: PURA)
The medical applications of CBD, and the growing awareness of them, is what makes this segment of the industry so important to its overall growth. Technavio’s Research analysis on the global CBD oil market identifies that the demand for CBD oil is high in many different parts of the world because it can cure various ailments in the human body. “One of the benefits of CBD oil includes the protection from Alzheimer’s disease and has anti-inflammatory properties. It also helps in the treatment of epilepsy and mental health disorders. The adoption rate of cannabidiol oil is increasing because they help in drug withdrawal. CBD oil is highly recommended because it can suppress the growth of cancer cells to prevent cancer. Our market research analysts predict that this market will grow at a CAGR of more than 39% by 2021,” the research states.
Crop Infrastructure Corp. (OTC: CRXPF) is also listed on the Canadian Securities Exchange under the ticker (CSE: CROP). Earlier last week, the Company announced breaking news that, “the Company’s Joint Venture; Xhemplar hemp farm in Italy. The 25-acre property was planted less than 50 days ago, has now produced approximately 600,000 healthy hemp plants. The plants are expected to be harvested in the next 20 days.
Furthermore, the joint venture has erected three drying facilities in the preparation for saleable dried hemp biomass. The Company has also identified multiple locations for an extraction facility.
The Joint Venture’s high CBD hemp will be sold as biomass or processed into CBD isolate for international markets. The joint venture’s products will be branded under XHemplar and CROP brands Tiffany CBD and Hempire Italia.
According to Arcview Market Research and its partner, BDS Analytics, government-subsidized health care spending (worldwide market at USD 1.3-Trillion) is expected to make Europe among the fastest growing and largest medical cannabis markets in the world. Arcview expects Italy to be the second largest cannabis market in Europe by 2027 with USD 1.2 Billion in sales.
CROP Infrastructure Director & CEO Michael Yorke states, ‘The Company is extremely encouraged by the fast pace of our partners at XHemplar having advanced into production in Italy. CROPs portfolio of cannabis infrastructure assets now includes cultivation properties in California, Washington State, Nevada, Italy, Jamaica. CROP also holds minority interests in West Hollywood and San Bernardino dispensary applications. Management will continue to aggressively pursue new international opportunities and expand its portfolio of tenant growers and infrastructure assets in strategic jurisdictions.’
XHemplar Chairman and CROP Infrastructure VP of M&A, EMEA Andrea Castiglione states: ‘We’re looking forward to CROP building out the extraction facility and unlocking the true value of the hemp plant. In 2019 we will look to increase the scale of our operations and asset base in Italy with CROP Infrastructure.'”
Kaya Holdings Inc. (OTCQB: KAYS), through subsidiaries, produces, distributes or sells legal premium medical and recreational cannabis products, including flower, concentrates and oils, and cannabis-infused foods. Kaya recently reported that it has reached a preliminary agreement to purchase a 12,000 sq. ft. indoor marijuana grow and manufacturing facility in Eugene, Oregon, which has a current capacity to grow in excess of 800 lbs. of high quality medical and recreational cannabis annually. The seller also holds a production license for the manufacture of extracts, oils and edibles, as well as the machines and equipment necessary to begin production, which will be included as part of the real estate purchase. “Approximately 2 weeks ago we entered into a non-binding preliminary agreement to purchase the building and related grow and manufacturing assets USD 1.3 M in KAYS restricted stock from the seller,” stated Craig Frank, Chief Executive Officer of KAYS. “We believe that this acquisition, when successfully completed will expedite our ability to achieve a number of our objectives.”
NightFood Holdings Inc. (OTC: NGTF) is a snack food company dedicated to providing consumers with delicious, better-for-you, sleep-friendly choices for evening snacking. The Company recently reported that its direct-to-consumer gross sales for the month of July surpassed the previous high set in June by over 33%. The Company has set online sales records in consecutive months as it continues to refine and test various online marketing initiatives. June unaudited sales from Shopify plus Amazon were USD 30,424. July totaled USD 40,634. A growing number of orders are through the Amazon Subscribe & Save® program and subscription orders directly through Nightfood.com. “Seeing the sales, reviews, and feedback we’re getting on NightFood bars makes us more excited about the overall night snack category, and specifically NightFood ice cream,” commented Chief Executive Officer, Sean Folkson. “The popularity of better-for-you ice cream is booming, and we know a large percentage of ice cream is consumed in front of the TV in the hours before bed. We expect consumers to embrace NightFood ice cream as a sleep-friendly way to satisfy those nighttime cravings, without having to switch format from ice cream to nutrition bars.”
Golden Leaf Holdings Ltd. (OTCQB: GLDFF) is a Canadian company operating in multiple jurisdictions, including Oregon, Nevada and Canada, with cultivation, production and retail operations built around recognized brands. The Company recently announced that it has received its city regulatory license for its extraction facility in Portland, Oregon. This license, which was issued by the City of Portland, was the last leg of approval needed before the extraction equipment could be operated. The first step was obtaining state licensure approval, which the Company announced it received last week. “The next few days are important for our Company’s production team, as we substantiate our equipment performance. We have a good idea of what they are capable of producing, we just want the hard facts and data,” said William Simpson, Chief Executive Officer, Golden Leaf Holdings. “Once the verification process is complete, we will have stronger line of sight to production capacity that our sales team can rely on to make market penetration and competitive pricing decisions.”
Puration Inc. (OTC: PURA) has been a water purification company that designs, develops, engineers, produces, markets, and distributes personal and group systems that filter, purify, clean, extract or otherwise improve the quality of water on a cost-effective, affordable basis, with a minimum of environmental impact. The Company has recently announced plans to spin-off its cannabis cultivation business in an effort to concentrate all Puration resources on its proven cannabis-infused beverage business. The spin-off and beverage industry concentration is intended to optimize the shareholder opportunity to capture the booming cannabis-infused food and beverage market to include any opportunity that might arise from the growing interest of global food and beverage industry giants like Constellation Brands.
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