OTC Markets Group Welcomes Valens Groworks Corp. to OTCQX
OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 10,000 U.S. and global securities, today announced Valens Groworks Corp. (TSXV: VGW; OTCQX: VGWCF), a vertically integrated provider of industry leading extraction products and services; including a diverse suite of extraction methodologies, next generation cannabinoid delivery formats and an ISO 17025 accredited analytical lab, has qualified to trade on the OTCQX® Best Market. Valens Groworks Corp. upgraded to OTCQX from the OTCQB® Venture Market.
The Cannabis ETF (THCX) Rebalance Further Diversifies Portfolio
Innovation Shares, a provider of thematic ETFs, announced it has completed the monthly rebalance of The Cannabis ETF (NYSE: THCX) and has added four companies to the portfolio: Valens GroWorks Inc. (TSXV: VGW), EnWave Corp. (TSXV: ENW), cbdMD Inc. (NYSE: YCBD) and Fire & Flower Holdings (TSX: FAF). Concurrently, three companies were removed from the portfolio: CannTrust Holdings (NYSE: CTST), Vivo Cannabis (TSXV: VIVO) and Innovative Industrial Properties (NYSE: IIPR).
Infused Drinks Offer Users a New Way to Enjoy Cannabis
The increasing acceptance of cannabidiol or CBD has pushed the overall cannabis industry into mainstream markets. Previously, CBD was listed as a Schedule 1 drug, meaning it was among one of the most heavily regulated substances in the world. However, through extensive research, scientists have concluded that CBD can actually have medical benefits. Researchers have praised the compound for its therapeutic benefits as it can be used as an alternative to traditional medicines. Moreover, clinical trials have also concluded that CBD does not cause psychoactive effects, unlike its THC or tetrahydrocannabinol counterpart. The positive outcome from CBD trials even led the U.S. Food and Drug Administration and the U.S. Drug Enforcement Administration to delist the compound from the Schedule 1 list. Additionally, the U.S. federal government signed the Farm Bill in 2018, which caused a widespread emergence of CBD-based products in stores throughout the nation. In particular, products such as tinctures, extracts, topicals, and beverages have been well received and are popular among consumers. Specifically, infused beverages became widely popular because they introduced a new method to consume cannabis aside from smoking or vaping. With the overall decline in smoking, as well as the increase in consumers seeking functional beverages, the CBD beverage industry has positioned itself to become a thriving market. Notably, the concept of self-care is causing the CBD beverage market to witness growth because consumers can easily purchase products at local stores or even on ecommerce platforms. Moreover, consumers are looking for a more natural product rather than the current commercialized health and wellness products that are packed with chemicals. However, despite the growing popularity of CBD beverages, there are still a multitude of people that are hesitant on trying them because of the legality matter revolving around cannabis. However, as cannabis continues to push into mainstream markets, the stigma imposed on the plant will eventually diminish. According to data compiled by Ameri Research, the global legal marijuana market was valued at USD 14.3 Billion in 2016. By 2024, legal marijuana global sales are projected to reach USD 63.5 Billion while exhibiting a CAGR of 21.1% from 2017 to 2024. BevCanna Enterprises Inc. (OTC: BVNNF) (CSE: BEV), Aphria Inc. (NYSE: APHA) (TSX: APHA), Valens GroWorks Corp. (OTC: VGWCF) (TSX-V: VGW), The Alkaline Water Company Inc. (NASDAQ: WTER) (TSX-V: WTER), Emerald Health Therapeutics Inc. (OTC: EMHTF) (TSX-V: EMH).