The marijuana industry is expected to grow substantially over the next few years, with sales in the United States alone forecast to hit $23.4 billion by 2022, according to cannabis market research group Arcview. Presently, there are nine states, and the District of Columbia, that have legalized marijuana for recreational purposes and thirty states have given the green light for medicinal use.
In light of next month’s mid-term elections, four additional states will consider legalizing some type of marijuana use. Should all vote in favor of legalization, recreational marijuana will then become legal in eleven states and D.C, and in thirty-three for medicinal purposes.
Following the elections, the White House intends to tackle the federal marijuana reform, according to Rep. Dana Rohrabacher, R-Calif. Rohrabacher has stated that President Trump has spoken in support of legalizing medical marijuana on a federal level, while keeping the legalization of recreational marijuana in control of each state.
Next Green Wave is a vertically integrated seed-to-consumer premium medicinal and recreational cannabis company operating in California and has been awarded permits for nursery, cultivation, extraction, and distribution. The company has acquired over 15 acres of cannabis-zoned development land and is in the process of building out four planned sites. Next Green Wave announced today that first phase of construction on its $8M state-of-the-art indoor facility is now 90% complete.
Earlier this week, Next Green Wave completed a letter of intent to acquire Loud Seeds, a six-time Cannabis Cup winner which has spent 20 years developing a vast collection of award-winning strains. In addition, the company has built a strong distribution list throughout the state and formed relationships with many other well-known cultivators and breeding partners.
“Being able to bring one of the best seed banks in the world into our nursery continues to differentiate Next Green Wave from other cultivators,” said Next Green Wave Executive Chairman, Leigh Hughes. “We are excited to join an award-winning genetics portfolio with world-class breeding skills as the construction of our facility nears completion and begins cultivation.”
Cronos is a globally diversified and vertically integrated cannabis company, with a presence across five continents, which operates two wholly-owned Canadian ACMPR-licensed producers: Peace Naturals Project Inc and Original BC Ltd.
The company will announce its financial results and hold its Third Quarter 2018 Earnings Conference Call on Tuesday, November13,2018 at 8:30 a.m. EDT. Senior management will be available for questions from the investment community after prepared remarks.
Recently, Cronos and Aleafia Health Inc. (ALEAF) (ALEF) annouced entering into a joint medical cannabis study to improve the management and treatment of insomnia and daytime sleepiness and a sponsored research agreement with the Technion Research and Development Foundation of the Technion — Israel Institute of Technology to explore the use of cannabinoids and their role in regulating skin health and skin disorders.
MedMen is leading cannabis company headquartered in the U.S. with assets and operations across the country. Most recently, a binding letter of intent was announced to purchase medical cannabis provider PharmaCann LLC in a stock deal valued at $682 million. The acquisition doubles the number of states where MedMen has licenses to 12 and combined, MedMen and PharmaCann would be licensed for 66 retail stores and 13 cultivation and production facilities.
MedMen released earnings for Fourth Quarter and Fiscal Year 2018, highlights include: a US market position with 12 states, 67 retail stores and 14 factories with pending PharmaCann acquisition, Q4 2018 systemwide revenue increase of 1,317% and a fiscal year 2018 systemwide revenue increase of 1,390%. MedMen plans to release its financial results for the first quarter fiscal 2019 ended September 30, 2018 after market close on November 29, 2018.
Canopy Growth is a world-leading diversified cannabis and hemp company, offering distinct brands and curated cannabis varieties in dried, oil and Softgel capsule forms. The company’s focus, aside from servicing the Canadian market with its numerous brands has been on expanding globally, with operations throughout eleven counties on five continents. Canopy is most well-known for beverage tycoon Constellation Brands (STZ) $4 billion-dollar investment, and 38% stake, into the marijuana company to develop cannabis-infused beverages.
Most recently, the company announced that TS Brandco, an indirect wholly-owned subsidiary of Canopy, purchased 10% of the issued and outstanding Class A common shares of 10006215 Manitoba Ltd., bringing TS Brandco’s total ownership of ManitobaCo to 89.9%, further enhancing Canopy subsidiaries’ market share of retail operations in the Manitoba province. This news followed the announcement of entering into an agreement to acquire the assets of ebbu, Inc., an Evergreen, Colorado -based hemp research company. The transaction will complement and accelerate multiple core verticals operating under Canopy Growth’s group of companies.
This blog is an affiliate of Midam Ventures LLC. Pursuant to an agreement between a Midam Ventures LLC and Next Green Wave (NGW), Midam expects to be paid a total of $1,075,000 for a period of six (6) months from October 1, 2018 and ending on April 1, 2019. The cash compensation will be paid out in increments monthly from the company to MIDAM. As of 10/01/2018 MIDAM has been paid a total of $150,000 from Next Green Wave (NGW). As MIDAM is paid by Next Green Wave (NGW) this disclaimer will update. Midam may buy or sell additional shares of (NGW) in the open market at any time, including before, during or after the Website and Information, to provide public dissemination of favorable Information about Next Green Wave. Click here for full Midam disclaimer.