USA Cannabis Market Projected To Reach Over $23B by 2022
TORONTO, April 10, 2019 /CNW/ - Cannvas MedTech Inc. ("Cannvas" or the "Company") (CSE:MTEC.CN - News) (Frankfurt: 3CM) (OTCPK:CANVF - News), a leading digital cannabis education and analytics company, is pleased to establish a working partnership with US Cannabis Pharmaceutical Research and Development ("US Cannabis"), a resource for organizations seeking to normalize, legalize and develop medicinal cannabis. The deal positions Cannvas as an exclusive, leading provider of cannabis education and analytics to US Cannabis and its vast network of clients.
"As the global cannabis industry grows and the need for an arm's length third-party organization to provide unbiased education and information around all aspects of cannabis becomes more apparent, we're proud to partner with US Cannabis as their leading source of trusted cannabis-related learning," said Shawn Moniz, Chief Executive Officer, Cannvas MedTech. "This deal is structured to further our growth plans for 2019 while significantly expanding the reach of our educational and analytics platforms into the United States, a projected $23.4 billion market for recreational cannabis by 2022 and $8 billion for medicinal by 2024 according to BDS Analytics."
A key partnership for both organizations, Cannvas and US Cannabis will work together to deliver cannabis education to potential and active cannabis consumers through the Cannvas.Me digital learning resource. Cannvas will reinforce US Cannabis' goal of normalizing and developing medicinal and therapeutic cannabis through US Cannabis' vast partner network across the United States. Both companies believe educating the public about the investment, business and job opportunities around cannabis legalization will complement strengthened education on the plant's potential health benefits, and the Cannvas.Me platform is well-positioned to meet that challenge.
"Over the next 5 years, the global cannabis industry will grow faster than any other industry in the world," says Michael Patterson, CEO of US Cannabis. "Accurate data analytics and education from a trusted source are critical to the development of global standards of this new legal industry. Cannvas provides the best platform to use with our clients in the United States and abroad to facilitate consistent training, increased compliance with local, state, and federal laws, and create awareness of the consumer base locally and globally. We are proud to work with Cannvas to develop the gold standard for cannabis operations and compliance."
US Cannabis provides services to help an array of clients - from startups to seasoned investors, established operations to Native American tribes and government agencies. Cannvas will support these efforts through the licensing of educational software, the use of cannabis data and analytics to better understand key industry trends and drivers for the businesses with whom US Cannabis works closely, placement of Cannvas educational kiosks in existing US-based dispensaries and clinics, and other elements designed to elevate the level of learning Americans experience around cannabis. With more than a dozen states expected to pass new cannabis laws by 2025, according to New Frontier Data, the projected growth of the American cannabis market will provide many more opportunities for US Cannabis and Cannvas to work together as this partnership evolves.
About US Cannabis Pharmaceuticals
US Cannabis serves as a resource for organizations seeking to normalize, legalize and develop medicinal cannabis by engaging in commerce, marketing, regulatory reform and product/process development. Its mission is to move society forward through legalized cannabis. It believes the most powerful form of advocacy is commerce and the best way to promote cannabis is by working together to create a robust industry. US Cannabis seeks to achieve these objectives by helping clients ensure they meet licensing requirements, comply with regulations and effectively manage their operations to ensure success for all stakeholders. For more information, please visit www.uscprd.com.
About Cannvas MedTech Inc.
Cannvas MedTech is a leading digital cannabis education and analytics company providing accessible and evidence-based education while harnessing the power of cannabis data and analytics to deliver deeper insights into consumer behaviour and paint a clearer picture of cannabis consumption across Canada.
No stock exchange or securities regulatory authority has reviewed or accepted responsibility for the adequacy or accuracy of this release.
Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Issuer's future plans, objectives or goals, including words to the effect that the Issuer or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis and other disclosure filings with Canadian securities regulators, which are posted on www.sedar.com.
SOURCE Cannvas MedTech Inc.
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