FinancialBuzz.com News Commentary
According to a report published by research firm Cowen & Co., the U.S. legal cannabis industry is expected to reach USD 75 Billion in sales by 2030. The research clarifies that the increasing consumer backing of legal cannabis, and its wider access, is driving meaningful change at the state level. Moreover, Cowen expects to see ballot initiatives to legalize cannabis for adult-use in both Michigan and Illinois in the upcoming midterm elections. Furthermore, expanded access in Maine, Massachusetts and New Jersey might inspire other states in the Northeast to pursue legalization. WeedMD Inc. (OTC: WDDMF), Hiku Brands Company Ltd. (OTC: DJACF), Aurora Cannabis Inc. (OTC: ACBFF), Aphria Inc. (OTC: APHQF), INSYS Therapeutics, Inc. (NASDAQ: INSY)
The recent progress, from both the political and technological grounds, has helped push the market in new directions. Editor-in-Chief at Arcview Market Research and Principal Analyst at BDS Analytics, Tom Adams, explained: ‘Our data shows positive indicators across the board for the legal cannabis industry, in North America and around the globe. The passage of the 2016 ballot initiatives and continued maturation of the existing Adult-Use markets are the primary drivers of the growth this year. That”s nothing compared to what we can expect in 2018 and beyond from Nevada”s tourism, and California and Canada planning to launch Adult-Use sales in 2018.’
WeedMD Inc. (OTC: WDDMF) also listed on the Toronto Stock Exchange Venture under (TSX-V: WMD). Yesterday WeedMD Inc. and Hiku Brands Company Ltd. announced that ‘WeedMD has obtained an interim order from the Ontario Superior Court of Justice authorizing the holding of an annual and special meeting of WeedMD shareholders to consider the previously announced merger between Hiku and WeedMD.
As described in the joint Hiku and WeedMD press release dated April 19, 2018, WeedMD will be seeking WeedMD Shareholder approval for the Arrangement under the Business Corporations Act. The WeedMD Meeting to consider the Arrangement Resolution will be held on Wednesday, July 11, 2018 at 10:00 a.m. (Toronto time) at Fogler, Rubinoff LLP, located at TD Centre North Tower, Suite 3000, 77 King Street, Toronto, Ontario. WeedMD Shareholders of record as of the close of business on May 23, 2018 are eligible to vote at the WeedMD Meeting.
The information circular with respect to the WeedMD Meeting is in the process of being mailed out to the WeedMD Shareholders and will also be available under WeedMD”s profile on SEDAR at http://www.sedar.com.’
Hiku Brands Company Ltd. (OTC: DJACF) is focused on building a portfolio of engaging cannabis brands, unsurpassed retail experiences and handcrafted cannabis production. The Company recently announced its congratulations to the Ontario Progressive Conservative Party on their election victory on June 7th, 2018 in Ontario. Hiku is a proudly Canadian cannabis company with its head office in Ontario. With its portfolio of iconic cannabis brands, including our private sector retail store front Tokyo Smoke, featuring locations across the country with the highest concentration in Ontario, Hiku is looking forward to the significant work ahead to educate and enlighten Ontario cannabis consumers and non-consumers alike as the federal government moves forward with legalization of adult use cannabis. Hiku looks forward to working cooperatively with the new government, the Ontario Cannabis Store, and other regulatory bodies.
Aurora Cannabis Inc. (OTCQB: ACBFF) is a licensed producer of medical cannabis pursuant to Health Canada”s Access to Cannabis for Medical Purposes Regulations. The Company announced that they have signed a binding term sheet whereby Aurora intends to acquire all of the issued and outstanding common shares of privately-held Anandia in an all share transaction valued at approximately USD 115 Million on a fully diluted basis. Anandia”s intellectual property (‘IP’) includes the exclusive rights to a number of key genes in the cannabinoid pathway, as well as patents pending for genetic markers. The strength of Anandia”s expert staff, proprietary assets and know-how will provide Aurora with a very significant advantage in developing new cannabis cultivars. Combining with Aurora gives Anandia access to significant new market opportunities in Canada and internationally through Aurora”s global footprint. This is a transformative acquisition that expands our science capabilities in the upstream segment of the seed-to-sale cannabis value chain, significantly boosting plant-based innovations in cultivation, enabling accelerated product development, and, ultimately, enhancing our margin profile going forward,’ said Terry Booth, CEO of Aurora.
Aphria Inc. (OTC: APHQF) is one of Canada”s lowest cost producers, produces, supplies and sells medical cannabis. Located in Leamington, Ontario, the greenhouse capital of Canada, Aphria is truly powered by sunlight allowing for the most natural growing conditions available. The Company recently released a statement in response to the passage of Bill C-45, the Cannabis Act, in the Senate of Canada. ‘Today”s passage of Bill C-45 through the Senate is a historic milestone towards safe and legal recreational cannabis in Canada. We applaud the government”s drive to establish a rational regulatory framework for adult-use cannabis that is designed to protect public health and safety, restrict access to youth, and eliminate the black market. It is a significant day that further cements Canada as the preeminent leader in the global cannabis sector,’ said Vic Neufeld, CEO of Aphria.
INSYS Therapeutics, Inc. (NASDAQ: INSY), a leader in the development, manufacture and commercialization of pharmaceutical cannabinoids and spray technology, recently announced hat its investigational epinephrine nasal spray showed promise in an early clinical trial as a potential needle-free, non-invasive and easy-to-use alternative to intramuscular injection for the treatment of anaphylaxis. ‘If the results of the initial study are borne out in a subsequent trial, this epinephrine nasal spray may become a viable alternative for patients with food allergy, venom allergy or other causes of anaphylaxis who must be prepared to treat it rapidly and effectively when it occurs,’ said Dr. David Fleischer, an associate professor of pediatrics at the University of Colorado School of Medicine and Children”s Hospital Colorado who served as an advisory board physician. ‘Because epinephrine is the first-line treatment for anaphylaxis, having other effective delivery options, such as a needleless alternative, may be attractive to patients and healthcare providers, as well as parents, school nurses, first responders and emergency department staff.’
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NEW YORK, June 15, 2018 /PRNewswire/ —