Bruce Linton: WEED and CRON Can Handle COVID-19 Storm
On April 6, Bruce Linton, the co-founder and former Co-CEO of Canopy Growth, . He said that Canopy Growth (NYSE:CGC)(TSE:WEED) and Cronos Group (NASDAQ:CRON) are better equipped to withstand the COVID-19 storm. Linton, the current executive director of Vireo Health International, said that both of the companies have billions of dollars to spend. As a result, the companies have solid footing. However, he said that even Aphria's financial position looks strong.
International Players Aid in the Cannabis Market's Expansion
Capital investments in the cannabis industry reached USD 10.4 Billion in 2010, which is a 40% increase from 2018. Yet, according to Marijuana Business Daily, the previously hot investment activity has cooled in recent months and is now running at what one analyst called a more "normal" pace of growth. This strong growth in investments can be explained by analyzing several recent developments which suggest that the cannabis industry is constantly growing around the world. For example, Australian health regulators expect the number of medical cannabis prescriptions to climb to at least 70,000 in 2020, which is more than double the 30,000 approvals through the end of 2019. Additionally, Germany imported 6,714 kilograms (14,802 pounds) of medical cannabis flower, primarily for pharmacy dispensing in 2019, according to fresh data from the nation's medical regulatory agency. That is more than double of the total for 2018, when about 3 metric tons were imported. In the United States, expectations are high for several states to expand their medical cannabis programs this year through new laws or regulatory policies, opening the door to additional business licenses as well as more sales for existing cannabis operators and new business. And, the global cannabis market size was USD 10.60 Billion in 2018 while it is projected to reach USD 97.35 Billion by the end of 2026 while exhibiting a CAGR of 32.9296 in the forecast period 2019 to 2026, according to Fortune Business Insights. Global Payout, Inc. (OTC: GOHE), HEXO Corp. (NYSE: HEXO), iAnthus Capital Holdings, Inc. (OTC: ITHUF), Planet 13 Holdings Inc. (OTC: PLNHF), KushCo Holdings, Inc. (OTC: KSHB).
iAnthus to Commence Operations at New Jersey Cultivation Campus, Marks Tenth State in Operating Footprint
iAnthus Capital Holdings, Inc. ("iAnthus" or the "Company") (CSE: IAN) (OTCQX: ITHUF), which owns, operates, and partners with best-in-class regulated cannabis operations across the United States, is pleased to announce it has received approval to commence operations at its Pleasantville, NJ cultivation campus. MPX New Jersey, an affiliate of iAnthus, is the ninth Alternative Treatment Center (ATC) in the state to receive a cultivation permit. This marks the tenth state in iAnthus' operational footprint.
iAnthus to Present at 2020 ICR Conference in Orlando, Florida
Chief Executive Officer, Hadley Ford, to provide company update and outlook on Tuesday, January 14 at 3 p.m.
iAnthus to Resume Vaping Sales in Massachusetts in Accordance with New Regulations
iAnthus Capital Holdings, Inc. ("iAnthus" or the "Company") (CSE: IAN) (OTCQX: ITHUF), which owns, operates, and partners with best-in-class regulated cannabis operations across the United States, is pleased to update the market on the status of cannabis vaping product sales by its Massachusetts subsidiary, Mayflower Medicinals, Inc.
iAnthus Subsidiary CBD For Life Continues to Expand National Reach for Holiday Season
CBD For Life (the "Company"), a subsidiary of iAnthus Capital Holdings, Inc. ("iAnthus") (CSE: IAN), (OTCQX: ITHUF), which owns, operates, and partners with best-in-class regulated cannabis operations across the United States, is pleased to announce it has now reached over 2,600 retail stores in the United States with its leading CBD-infused wellness and self-care products.
Shifting Regulations Open New Doors for the CBD Industry
The U.S. cannabidiol market burgeoned after the passage of the Farm Bill in 2018. The Farm Bill legalized the commercialization of CBD-based products as long as they do not contain any more than 0.3% THC levels. Federal regulators decided to legalize the use of CBD after researchers undermined misconceptions that the cannabinoid causes psychotropic effects. Extensive research ultimately proved that CBD offers a plethora of health and therapeutic benefits for consumers, with none of the hallucinogenic properties associated with THC. Notably, most people are using CBD as more of an over-the-counter treatment to alleviate minor medical conditions such as headaches or pain. Moreover, CBD is also known to provide consumers with many beneficial nutrients such as protein, fiber, and essential fatty acids. Additionally, CBD provides consumers with amino acids, vitamins A, C, E, and B complex. Furthermore, studies have also indicated that CBD can be used to treat serious life-threatening conditions such as cancer, multiple sclerosis, HIV/AIDS, Alzheimer's, and Parkinson's. However, to note, there is no evidence that CBD cures or prevents diseases, even as researchers have boasted that CBD can help relieve some symptoms associated with some medical conditions. For instance, many conditions such as cancer or Parkinson's can lead to chronic pain, which can affect daily life activities such as movement or even sleep. CBD is known to relieve inflammation and pain as well as stimulate relaxation. Over the past year, CBD products have rapidly emerged throughout the U.S. and now consumers can easily find CBD products such as tinctures, topicals, oils, and even vapes at their local convenience store, pharmacy, and online. The widespread availability of CBD also highlights the massive expansion of the industry despite it being an underdeveloped market. Nevertheless, research and clinical trials are continuing to promote the benefits of CBD. And as a result, the U.S. CBD market is anticipated to deliver total sales of over USD 20 Billion by 2024 while expanding at a CAGR of 49%, according to data compiled by BDS Analytics and Arcview Market Research. Amarantus Bioscience Holdings, Inc. (OTC: AMBS), Auxly Cannabis Group Inc. (OTC: CBWTF) (TSX-V: XLY), United Cannabis Corporation (OTC: CNAB), GB Sciences, Inc. (OTC: GBLX), iAnthus Capital Holdings, Inc. (OTC: ITHUF) (CSE: IAN)
iAnthus Reports Significant Progress in Massachusetts Adult-Use Market
Receives approval to commence construction on its first adult-use store in Worcester, Massachusetts' second largest city; continues to scale cultivation and production capacity
Recreational Cannabis Sales Expand to Michigan
Over the weekend, Michigan kicked off its recreational cannabis sales, becoming the first state in the Midwest to legalize adult-use. Michigan voters backed the legalization of cannabis back in 2018, marking the 10th state to fully allow the use of both medical and recreational cannabis. State officials issued 18 licenses in total on the first day, including to growers and processors, according to Vox. Additionally, officials also allowed medical dispensaries to shift 50% of their medical supply to recreational if the products have been in inventory for at least 30 days. During the first day of legal sales, Michigan accumulated a total of USD 221,000 in sales, according to The Detroit News, with most of the sales stemming from Ann Arbor. The state stipulates that adults 21 years or older can purchase and possess cannabis. Additionally, residents are legally allowed to possess up to 2.5 ounces in person or up to 10 ounces at their homes. And while recreational cannabis sales might seem minuscule, Michigan's medical segment has been booming. The Detroit News reported that between October 1st, 2018 to November 22nd, 2019, Michigan generated a total of USD 269.5 Million in sales. And according to mlive, Michigan budget planners are anticipating the recreational market to reach upwards of USD 1 Billion and deliver revenues of USD 1.43 Billion by 2022. In combination with other legal recreational states such as California, Colorado, Nevada, and Washington, the states are collectively delivering billions in revenue. According to data compiled by MarketsandMarkets, the global cannabis market was valued at USD 10.3 Billion in 2018. And by 2023, the market is expected to reach USD 39.4 Billion while exhibiting a CAGR of 30.7% during the forecast period. Global Payout, Inc. (OTC: GOHE), Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB), KushCo Holdings, Inc. (OTC: KSHB), The Green Organic Dutchman Holdings Ltd. (OTC: TGODF) (TSX: TGOD), iAnthus Capital Holdings, Inc. (OTC: ITHUF) (CSE: IAN)