Why More Retail Cannabis Dispensaries are Needed Now as Cultivation Season Begins
It's a marriage made in heaven in POT heaven that is. In both the U.S. and Canada, the consumer demand for cannabis products continues its steady growth but one obstacle could be the unmet need for more dispensaries. The consumer demand for cannabis products exceeded even the most optimistic projections there are just not enough retail dispensaries (with sufficient supplies also but that is for another time) and Mall owners have too many stores without a tenant so, Dispensaries and Mall owners are entering into a hopefully long and mutually rewarding relationship! An industry publication recently said that, in both Canada and the U.S. "The future is very bright for property owners in North America as cannabis companies are on the hunt for cannabis retail locations." The article said that, "Cannabis retailers aren't very widespread in Canada as most provincial governments are slow to roll out the licenses needed to open the stores. In the US, things are somewhat different. Seeing how cannabis is still illegal on the federal level, making deals with cannabis companies comes with a bit more risk. However, that didn't stop some of the biggest mall operators in possibly making millions of dollars in the states where cannabis is already legal, such as California. "Active companies in the cannabis industry includes: CROP INFRASTRUCTURE CORP. (CSE:CROP) (OTC:CRXPF), HEXO Corp. (NYSE: HEXO) (TSX: HEXO.TO), Canopy Rivers Inc. (TSX-V: RIV.V) (OTCPK: CNPOF), Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB.TO), Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF).
Kentucky Advances Their Medical Marijuana Bill for the First Time
With a total of 33 states so far approving medical marijuana, yet another state appears on the road to legal medical adoption. For the first time ever, the Kentucky legislative panel has advanced a medical marijuana bill.
Rapid Market Growth Leads Cannabis Companies to Security Firms
The mania revolving around cannabis has caused a large influx of cannabis-based companies to enter into the marketplace. Companies have filed initial public offerings within Canadian exchanges, but because the U.S. dominates 90% of the global cannabis market, many of those companies have already or are trying to list in the U.S. even though the U.S. has not fully legalized cannabis. Regardless, states like California, Colorado, and Nevada are all positioned to deliver immense growth. According to data compiled by Mordor Intelligence, the global cannabis market was valued at USD 7.7 Billion in 2016 and is expected to reach USD 65 Billion by 2023. Additionally, the market is set to grow at a CAGR of 37%. The market is also being propelled by various countries working to legalize cannabis for medical usage and U.S. states legalizing it for recreational use. 3 Sixty Risk Solutions Ltd. (OTC: PTVYF), Tilray, Inc. (NASDAQ: TLRY), Innovative Industrial Properties, Inc. (NYSE: IIPR), Charlotte's Web Holdings, Inc. (OTC: CWBHF), Canopy Rivers Inc. (OTC: CNPOF).