North America is by far the leader of the cannabis industry, as it is not only the fastest growing region but also possesses the largest market share. Canada became the first G7 nation to legalize adult-use recreational cannabis and the influx of United States legalizing one form or another of cannabis as well the passing of the 2018 US Farm Bill, which legalized hemp, is driving the growth of the sector. The two countries, together, command the global cannabis industry, which is forecast to hit $146.4 billion across the globe by 2025, with a compound annual growth rate of 34.6%, according to a Grand View Research report.
The increased legalization of cannabis along with the growing utilization in several medical applications are key factors for driving the growth of the industry. As the cannabis industry continues to evolve, there are several marijuana stocks making headlines.
Leafbuyer Technologies, Inc. (LBUY) announced that the number of Greenlight platform users has reached nearly 80,000, further to its recent release announcing Leafbuyer’s launch of the Greenlight app in Colorado and Oklahoma. The platform permits consumers to order cannabis products ahead, earn loyalty points, and cut the line to pick up and pay at participating dispensaries. Presently, the number of Leafbuyer dispensary clients with capabilities has grown to a total of 60, located throughout the states of California, Colorado, Oklahoma, and Michigan.
“The rapid geographic implementation of the Greenlight technology and the large number of users is encouraging. Developments are under way to bring new features to the platform that are expected to be a catalyst for continued revenue growth,” said Kurt Rossner, CEO of Leafbuyer. “We plan to expand the footprint further and optimize this technology to make it a staple in every legal market across the country.”
This news followed the announcement that Leafbuyer and Greenlight now integrate with Flowhub’s point of sale and compliance technology, giving customers have access to immediate, up-to-date menu information regarding product availability in dispensaries using Flowhub API and Leafbuyer platforms.
Curaleaf Holdings, Inc. (CURLF) (CURA.CN) on its recent earnings conference, company executives said CVS Health Corp (CVS) will start offering its Curaleaf Hemp lotions and transdermal patches in around 800 stores across the U.S. Today the company annouced the opening of its 23rd Florida dispensary as it continues to expand rapidly throughout the state. Curaleaf has the largest cannabis dispensary footprint in the US, now with 43 dispensaries across the country.
“As Curaleaf continues to deliver on its expansion strategy, we are well positioned to improve the quality of patients’ lives by providing access to safe top-quality cannabis products,” shared Joe Lusardi, Curaleaf CEO.
The dispensary includes the community’s first medical marijuana drive-thru. Curaleaf was the first in the state to introduce and test the drive-thru concept at its Palm Harbor dispensary and since has launched a second drive-thru in Orlando. Today, Curaleaf also announced it will celebrate its grand opening on Thursday, March 21 from 3pm until 7pm at its Gainesville dispensary.
Canopy Growth Corporation (CGC) (WEED) announced it has acquired AgriNextUSA, a hemp enterprise led by CEO Geoff Whaling, to accelerate Canopy Growth’s entry into key American jurisdictions. As previously mentioned, Canopy Growth is on track to build the first Hemp Industrial Park in the Southern Tier of New York State, after receiving a state license to produce and process hemp. Canopy growth committed to invest $100M to $150M into a hemp operation as well as the production of high-quality CBD products.
“The United States is the next stop on Canopy Growth’s desired path to becoming a leading, revenue-generating company focused on all aspects of cannabinoids and their potential,” said Bruce Linton, co-CEO and Chairman. “Our significant investments, acquisitions and compilation of talented leaders such as Geoff will position us for swift expansion throughout the United States. By collaborating with a pioneer like Geoff, who has been involved with our team since our earliest days in 2013, we will aim to turn hemp supplied by American farmers into a wide range of products.”
This news followed Canopy’s announcement earlier this week of a two-year processing and extraction agreement Wednesday with HollyWeed Manufacturing & Extracts Inc. The agreement entails that HollyWeed will process Canopy-supplied dried cannabis flower in its and in turn, HollyWeed will supply Canopy with oil and resin extracted from the source material. The companies expect the first shipment of product for extraction will take place in fall of 2019.
This blog is an affiliate of Midam Ventures, LLC. Pursuant to an agreement between Midam Ventures LLC and Leafbuyer Technologies Inc., Midam is being paid $50,000 for a period of 30 days beginning November 1, 2018 and ending November 30, 2018. Midam has been paid an additional $50,000 and 40,000 common restricted shares of Leafbuyer Technologies, Inc. extending the contract another 30 days ending December 31, 2018. Midam has been compensated an additional $50,000 by Leafbuyer Technologies and has extended its period of coverage to January 31, 2019. Midam has been compensated an additional $50,000 by Leafbuyer Technologies and has extended its period of coverage to March 1, 2019. Midam has been compensated an additional $50,000 by Leafbuyer Technologies and has extended its period of coverage to April 1, 2019. Midam owns 77,000 shares of Leafbuyer Technologies. Midam may buy or sell additional shares of (LBUY) in the open market at any time, including before, during or after the Website and Information, to provide public dissemination of favorable Information about Leafbuyer Technologies Inc. Click here for full Midam disclaimer.