Small Scale Cannabis Growers Carve Out a Niche in the Burgeoning Industry
As the cannabis industry continues to advance, competition among operators is becoming more and more fierce. In particular, the competition between growers has become much more prevalent when compared to retailers, according to Deepak Anand, a cannabis industry expert based in Vancouver. As of March 2019, statistics released by Health Canada indicated that the agency only received 150 applications for micro-cultivation or processing licenses. Generally, macro-cultivators tend to dominate the cultivation segment of the overall cannabis industry, as they are able to produce tons of cannabis each harvest. By mass-producing cannabis, macro-cultivators can wholesale their supply to distributors and retailers at a cheaper price. However, Anand noted that micro-cultivators have to wait for at least 18-months before getting approved for a license, which usually deters entrepreneurs from applying. As a result, many micro-cultivators find themselves working in gray markets while waiting for approvals. Nonetheless, numerous service providers within the industry have secured partnerships and contracts with companies awaiting such license approvals. For instance, companies have hired consultants to guide them throughout the process of receiving an approval. Moreover, some producers have inked agreements with companies to supply them with their own products in an effort to accelerate their approval time. Furthermore, according to data compiled by GlobalInfoResearch, the global legal marijuana market was valued at USD 7.97 Billion in 2019. And by 2024, it is expected to reach USD 35 Billion while registering a CAGR of 28% over the next five years. Pasha Brands Ltd. (OTC: CRFTF) (CSE: CRFT), Innovative Industrial Properties, Inc. (NYSE: IIPR), Aphria Inc. (NYSE: APHA) (TSX: APHA), HEXO Corp. (NYSE: HEXO) (TSX: HEXO), Green Thumb Industries Inc. (OTC: GTBIF) (CSE: GTII)
Green Thumb Industries (GTI) to Open Rise Hermitage, the Seventh Rise(TM) Cannabis Store in Pennsylvania, on September 19
Green Thumb Industries Inc. (GTI) (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods company and owner of Rise(TM) and Essence retail stores, today announced it will open Rise Hermitage, the seventh Rise(TM) retail location in Pennsylvania, on September 19.
Green Thumb Industries (GTI) Announces Conference Participation for September 2019
Green Thumb Industries Inc. (GTI) (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods company and owner of the Rise(TM) and Essence retail stores, today announced that its executive team will participate in the following conferences in September 2019: