The market is seeing green.
Analysts at Cowen note the U.S. cannabis market could rocket to $16 billion by 2025.
Analysts at Piper Jaffray believe we could be looking at a global market value of between $250 billion to $500 billion a year. “We believe the long-term growth can be significant — both from transitioning illicit trade to legal sales, medical sales, and from transitioning sales in health [and] wellness categories to CBD-infused products,” said the analysts, as quoted by MarketWatch.
All as the global community wakes up to the idea of global legalization of medicinal and recreational cannabis. Some of biggest beneficiaries of the boom include Pure Global Cannabis Inc. (TSX.V:PURE) (OTC:PRCNF), Tilray Inc. (NASDAQ:TLRY), and Canopy Growth Corporation (NYSE:CGC)(TO:WEED).
Pure Global Cannabis’ (PURE)(PRCNF), operating through its wholly-owned subsidiary PureSinse Inc. just provided an operational and oils sales license update, for example.
Over the last week, the company received confirmation from Health Canada for its process inspection in preparation to sell cannabis oils to the Canadian market. In addition, Pure Global can now begin the production of cannabis oils at its Brampton, Ontario facility. The output of oils, capsules, vape pens, topicals, and sublingual-sprays are slated to be sold in both domestic and global markets.
Earlier this year, the company purchased high-throughput CO2 extraction equipment and completed construction of its extraction facilities. Pure Global now has the capacity to purify, formulate, extract and process to a volume of 10 kg of oil per day, up to 10,000 capsules per hour, 10,000 vape cartridges per hour, and 2,000 x 60ml tincture bottles per hour.
In addition, its updated cultivation infrastructure is nearing completion and awaiting additional Health Canada approvals to initiate cultivation. While the company awaits, it will continue to source a library of genetics, low-cost, high-quality CBD inputs, and develop differentiated products to service its medical patients and soon to be announced consumer brands.
For More Information on Pure Global Cannabis, Click Here.
Canopy Growth Corporation (CGC)(WEED) has also made significant progress recently.
For example, it’s making an investment of $100 million and $150 million to create a large-scale hemp production facility in New York over the next 100 days. It’s currently looking at sites in the Southern Tier of the state, notes Bloomberg.
In addition, the company just teamed up with Martha Stewart to produce a line of CBD products for people and their pets. "I am delighted to establish this partnership with Canopy Growth and share with them the knowledge I have gained after years of experience in the subject of living," Stewart said, as quoted by CNN.
For More Information on Canopy Growth Corp., Click Here.
Even Tilray Inc. (TLRY) is making major headlines after jumping into the U.S. CBD market. That’s after agreeing to acquire Manitoba Harvest for $317 million in cash and stock.
Manitoba Harvest CEO Bill Chiasson said the “current plan is to introduce a line of CBD-infused tinctures, a CBD spray and CBD gel caps,” as quoted by MarketWatch. ““We have retailers who have expressed a lot of interest in that, in states where it’s more friendly.”
For More Information on Tilray, Inc., Click Here.
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Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from aressed or implied by such statements. Winning Media which has a partnership with www.MarijuanaStox.com is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release.
For making specific investment decisions, readers should seek their own advice. Winning Media, which has a partnership with www.MarijuanaStox.com, is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement between Winning Media (partners of MarijuanaStox.com) and Pure Global Cannabis, Winning Media has been paid sixty thousand dollars for advertising and marketing services for Pure Global Cannabis. We own ZERO shares of Pure Global Cannabis. Please click here for full disclaimer.
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