NEW YORK, March 3, 2017 /PRNewswire/ --
According to data published by New Frontier Data, the legal cannabis market was worth an estimated $7.2 billion in 2016, and is projected to grow at 13% CAGR through 2025. During the same period, adult use sales are projected to grow at a 25% CAGR, from $2.6 billion to $11.2 billion, assuming no additional states will pass legalization measures before 2025. The data also estimates that due the increasing popularity of cannabis product and legalization campaigns across the U.S, the market will create approximately 283,000 jobs by 2020. Invictus MD Strategies Corporation (OTC: IVITF) (CSE: IMH.CN), Cara Therapeutics Inc. (NASDAQ: CARA), Corbus Pharmaceuticals Holdings Inc. (NASDAQ: CRBP), Aurora Cannabis Inc. (OTC: ACBFF), Canopy Growth Corporation (OTC: TWMJF),
Giadha Aguirre De Carcer, Founder and CEO of New Frontier Data, said,"These numbers confirm that cannabis is a major economic driver and job creation engine for the U.S. economy. While we see a potential drop in total number of U.S. jobs created in 2017, as reported by Kiplinger, as well as an overall expected drop in GDP growth, the cannabis industry continues to be a positive contributing factor to growth at a time of potential decline. We expect the cannabis industry's growth to be slowed down to some degree in the next 3 to 5 years, however with a projected total market sales to exceed $24 billion by 2025, and the possibility of almost 300,000 jobs by 2020, it remains a positive economic force in the U.S."
Invictus MD Strategies Corporation (OTC: IVITF) (CSE: IMH.CN) is focused on three main verticals within the burgeoning Canadian cannabis sector. Last week Invictus MD announced that, further to its news release dated February 7, 2017, it has successfully entered into a definitive option agreement with a Late Stage Applicant ("OptionCo") under the Access to Cannabis for Medical Purposes Regulations ('ACMPR') to acquire 100% of the outstanding shares of OptionCo from its current shareholders (the 'Vendors').
OptionCo had its Pre-license from Health Canada in early January 2017 and expects to receive a license to cultivate under the ACMPR in short order. OptionCo has built 60,000 square feet of secured perimeter for its current production facility located on 150 acres (the 'Property') in the Province of Alberta. OptionCo has already submitted plans for additional buildings on the Property including a 30,000 square foot facility. Assuming OptionCo receives the requisite regulatory approval to cultivate, OptionCo has future expansion plans on the 150 acre Property to establish itself as a leader in the Canadian cannabis industry.
The Vendors stated, "OptionCo has built 60,000 square feet of secured perimeter for its current purpose-built production facility located on 150 acres. We have already submitted plans for additional buildings on the Property as part of our phase II plans, including a 30,000 square foot state-of-the-art production facility with the option to add an additional 20,000 square foot second floor. OptionCo has future phase III expansion plans for our 150-acre property, up to 3 million square feet of buildable property, which has a footprint larger than 60 football fields; OptionCo is focused on establishing itself as a leader in the Canadian cannabis industry."
"From day one, we have been very clear: to acquire production capacity under the ACMPR is a key driver to increasing shareholder value", said Dan Kriznic, Chairman and CEO of Invictus MD. "Given our ability to aggressively expand the commercial scale of the OptionCo property, we will make key capital investments that enable us to rapidly ramp up production capability. With OptionCo and our combined long-term capacity from our 33.33% stake in AB Laboratories Inc., a Licensed Producer under the ACMPR, and our 33.33% stake in AB Ventures and binding LOI with PlanC BioPharm Inc., now in the late stages of the application process, we are very well positioned to become one of the largest producers of cannabis in the Canadian sector."
Cara Therapeutics Inc. (NASDAQ: CARA) is a clinical-stage biotechnology company, focused on developing and commercializing new chemical entities designed to alleviate pain and pruritus, by selectively targeting peripheral kappa opioid receptors. The main naturally occurring ligands for this system, anandamide and 2-arachidonoylglycerol (2-AG), activate a number of cannabinoid receptors, including CB1 and CB2 receptors. CB1 receptors and associated ligands are mainly localized in the brain, whereas CB2 receptors are found mainly in peripheral tissues, particularly immune cells such as leukocytes and mast cells, which have shown to be involved in pain and inflammatory responses. Cara is developing lead molecules that selectively modulate peripheral CB receptors without targeting CNS cannabinoid receptors. Peripheral CB receptor modulators will be initially developed as a novel therapeutic approach for neuropathic pain, a condition currently without consistently effective therapies. Cara's most advanced CB compound, CR701, is in preclinical development.
Corbus Pharmaceuticals Holdings Inc. (NASDAQ: CRBP) is a clinical stage drug development company targeting rare, chronic, and serious inflammatory and fibrotic diseases with clear unmet needs. The company's leading product, Resunab, is a first-in-class, synthetic oral endocannabinoid-mimetic drug that targets chronic inflammation and fibrotic processes by triggering an endogenous pathway called "Resolution of Inflammation." Resunab is currently being evaluated in four separate Phase 2 clinical trials for the treatment of cystic fibrosis, diffuse cutaneous systemic sclerosis, dermatomyositis and systemic lupus erythematosus, four diseases in which inflammation and fibrosis drive morbidity and mortality. Resunab also has the potential to treat additional rare, inflammatory diseases.
Aurora Cannabis Inc. (OTCQB: ACBFF) unveiled the second generation of its popular mobile application, incorporating a number of enhanced features to provide a significantly upgraded user experience to new and existing clients of the Company. Coupled with Aurora's industry leading same-day and next-day delivery services, the app further expands the Company's e-commerce strategy, a key differentiator in the legal cannabis market. Aurora's wholly-owned subsidiary, Aurora Cannabis Enterprises Inc., is a licensed producer of medical cannabis pursuant to Health Canada's Access to Cannabis for Medical Purposes Regulations.
Canopy Growth Corporation (OTC: TWMJF) is a licensed producer of medical marijuana in Canada. Canopy Growth represented an ideal opportunity to conduct R&D and document the tangible benefits of its technology platform with cannabis. Canopy Growth has partnered with Indoor Harvest Corporation, that is involved both in the cannabis industry and in the wider agricultural industry. The Company believes it can then more easily go out and market the platform to countless other companies in the growing cannabis industry.
Please SIGN UP NOW at http://www.FinancialBuzz.com To Receive Alerts on Trending Financial News from all these companies. "The Latest Buzz in Financial News"
Subscribe Now! Watch us report from NYSE https://www.youtube.com/FinancialBuzzMedia
Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz
Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz
Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/
About FinancialBuzz.com
FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR branding, marketing and advertising for third parties for disseminating news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.
Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the "Site") is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. Financialbuzz.com has not been compensated directly by any of the companies mentioned here in this editorial. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions as we purely incorporate public market research along with financial and corporate news. FinancialBuzz.com only regurgitates financial or corporate news through our unique financial newswire and media platform. FinancialBuzz.com expects to be compensated a total of seven thousand dollars for financial news dissemination and PR services by a third party non affiliate for invictus md strategies corporation. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on the Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use. Please visit: http://www.financialbuzz.com
For further information:
Media Contact:
Email: [email protected] ,
Phone: +1-877-601-1879
Url: http://www.FinancialBuzz.com
SOURCE FinancialBuzz.com
Share this article