NEW YORK, March 4, 2019 /CNW/ -- The development of the cannabis industry has led to the introduction of a variety of products into the marketplace in recent years. Products such as strains, oils, creams, and tinctures have become popular among consumers. Predominantly, consumers are using these products for medical applications to treat conditions like cancer, migraine, and arthritis. Now, as the industry continues to mature, new products are emerging, chief among them edibles and beverages. While these products may be more popular in the recreational sector, some consumers are leveraging them for their therapeutic effects as well. Such as it is, the current emergence of wide-ranging products is diversifying and helping grow the overall cannabis industry. According to data compiled by Imarc Group, the North American legal cannabis market was valued at approximately USD 8 Billion in 2017. By 2023, the market is expected to reach USD 35 Billion, while exhibiting a CAGR of 28% throughout the forecast period. Weekend Unlimited Inc. (OTC: WKULF) (CSE:POT), Emerald Health Therapeutics, Inc. (OTC:EMHTF - News) (TSX-V:EMH.V - News), General Cannabis Corp. (OTC:CANN - News), Aleafia Health Inc. (OTC:ALEAF - News) (TSX-V:ALEF.V - News), Leafbuyer Technologies, Inc. (OTC:LBUY - News)
Cannabis is continually gaining prominence around the globe, but particularly in countries like the U.S. and Canada. Canada has already moved to legalize cannabis nationally, but the U.S. has given states the authority to legalize cannabis, or not, for themselves. So far, only 10 U.S. states and the District of Columbia have legalized recreational cannabis use. Meanwhile, the ongoing research and development within the industry is expected to increase the number of countries which contemplate legalizing cannabis for either medical or recreational use. The industry, however, still remains in its infancy stage, meaning there is still opportunity awaiting investors and businesses alike. "2018 was a landmark year for the cannabis industry. The two largest legal adult-use markets in world opened, in California and Canada, and record numbers of medical patients and consumers gained legal access to cannabis across the world. As a result, cannabis consumers/patients, new and old, have been exposed to a plethora of brands, delivery methods and other options for consuming cannabis. While the global cannabis industry is still in its infancy, a number of interesting trends in consumer preference have emerged, which may signal patterns that reshape cannabis consumption as we know it," according to Ello, a U.S.-based cannabis advisory firm.
Weekend Unlimited Inc. (OTC: WKULF) (CSE:POT) is also listed on the Canadian Securities Exchange under the ticker (CSE:POT). Earlier last week, the Company announced, "the following executive appointments, Mr. Ese Roberts, Director of Operations, and Mr. Clint Pyatt, Director of Revenue Generation
"The Company is advancing quickly as it integrates the teams, infrastructure, production, overall product mix and development from its strategic acquisitions. It is imperative that we have strong leadership for operations and revenue generation. Ese and Clint bring a wealth of experience that will be focused upon productization, sales and operations," said Mr. Paul Chu, Weekend President and CEO.
Mr. Ese Roberts, a first-generation Samoan-American entrepreneur. He the owner of a California State license as an engineering contractor who has extensive experience with both cultivators and extractors in the cannabis and hemp space. This includes property acquisition, preliminary design, permitting and final tenant improvements required for issuance of cannabis CUP and certificate of occupancy. Ese's experience in the cannabis and hemp industry also includes the following roles, CEO of 333 Custom Spectrum Inc (Los Angeles permitted hemp extractor/manufacturer), the Secretary/General Mgr. for High Desert Group Inc. (a Type 6 licensed CA cannabis extractor/manufacturer) and the President of Canna Candy's, a THC / CBD infused edible candy brand in the Weekend family of brands.
Mr. Clint Pyatt, Director of Revenue Generation, has over 8 years working in the cannabis and hemp markets. His experience includes the design, development and implementation of manufacturing, extraction and proprietary delivery methods for cannabis in eight states. Clint is a USMC veteran with multiple commendations for service in Iraq, Somalia and throughout the Middle East. Mr. Pyatt's experience also includes a decade in the financial sector with a focus on mortgage backed securities. Clint has launched multiple cannabis brands in California, with extensive knowledge and experience in licensed distribution channels and revenue centers within cannabis vertical markets.
"Weekend's brand portfolio is about more than products; the team we are building is essential to our strategy and achieving our goal set. We are accelerating the integration of our brands with collaborative teams coming together under the right leadership. With recent appointments of Karl Schmieder and Tom Wisniewski, and now Ese and Clint, we can manage each subsidiary and harmonize the overall Company to leverage assets, including talent, so that we can maximize brand development, production and sales in multiple markets," added Mr. Paul Chu.
About Weekend Unlimited Inc: Weekend Unlimited is capitalizing on its vast industry relationships to establish a lifestyle brand featuring premium products and delivering life's highest moments. The Company aggregates and scales small to medium brands, primarily in the categories of flower, extracts and edibles. Weekend Unlimited brands have best of class operations, distribution and strong revenue trajectories, making them ideal candidates for the deployment of capital and expertise through access to technologies, infrastructure and centralized systems. Learn more at www.weekendunlimited.com"
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Emerald Health Therapeutics, Inc. (OTCQX:EMHTF - News) (TSX-V:EMH.V - News) is a Canadian licensed producer of cannabis. Emerald Health Therapeutics, Inc. recently announced the launch of Verdélite Sciences Inc., a wholly-owned, Québec-based production subsidiary licensed by Health Canada. Formerly known as Agro-Biotech, Verdélite currently produces high-grade dried cannabis for medical and adult-use purposes. Emerald is nearing completion of its over USD 100 Million investment to secure and expand its multi-purpose facility to 88,000 sq. ft. and enable the complete cycle of indoor cultivation, product development and automated packaging of cannabis products. Upon reaching full production levels in mid-2019, Verdélite projects it will have created approximately 140 jobs. "We're delighted to see our Québec-based Saint-Eustache facility coming online and adding to our capability to deliver high-quality adult-use and medical cannabis products," said Dr. Avtar Dhillon, President and Executive Chairman of Emerald. "The Verdélite team has been working tirelessly to bring to fruition one of the core assets in Emerald's national and international development strategy."
General Cannabis Corp. (OTCQX:CANN - News) is the comprehensive national resource for the highest-quality service providers available to the regulated cannabis industry. General Cannabis Corp. recently announced that it is expanding its footprint into the national retail space with the opening of its first CBD concept store on Long Island. Planned for a March 2019 open date and adjacent to one of New York's most notable cycling stores, Brickwell Cycling and Multisports, this new project will be headed by Brickwell's founder and owner, Andrew Motola. The store will focus on CBD wellness products for athletes, health-conscious consumers and those who simply want to be at their physical best no matter their level of athleticism. In addition, the store's line of curated CBD products will be available online as well. Brickwell Cycling and Multisport is Long Island's go-to place for all cycling enthusiasts, conveniently located in the heart of a fitness-minded community on Northern Blvd in Greenvale, NY. General Cannabis' new CBD concept store will be located directly adjacent to the cycling store, and within minutes of several gyms, fitness shops and multi-modal training facilities, serving as a one-two punch for those looking to elevate their fitness game. "At General Cannabis, we have been watching, supporting and researching the CBD space for several years," said Michael Feinsod, Chairman and Chief Executive Officer of General Cannabis. "In the course of that research, we recognized that while there was great innovation occurring in the products space for CBD, there were no retail environments conducive to serving athletes and others who are serious about maintaining peak fitness and/or mobility with the healing properties of CBD-which meant there was an opportunity to establish a strong position in this rapidly evolving, hemp-derived CBD market. The approach to research, education and product curation will also drive our e-commerce platform which will be available nation-wide."
Aleafia Health Inc. (OTCQX:ALEAF - News) (TSX-V:ALEF.V - News) is a vertically integrated, national cannabis health and wellness company with major medical clinic, cannabis cultivation and R&D operations. Aleafia Health Inc. recently announced its global expansion with the closing of its previously announced investment in CannaPacific Pty Limited, a federally licensed Australian medical cannabis company located in New South Wales, Australia. CannaPacific aims to supply the Australian medical cannabis patients with pharmaceutical grade medical cannabis products. "This transaction will place Aleafia at the epicentre of what we expect will be a major growth centre in the global medical cannabis market," said Aleafia Chief Executive Officer Geoffrey Benic. "Aleafia will soon boast global distribution networks in Germany (upon completion of the Emblem acquisition) and Australia, complementing our cannabis cultivation, clinics and adult-use retail in Canada."
Leafbuyer Technologies, Inc. (OTCQB:LBUY - News) is a multi-platform cannabis technology company connecting consumers with dispensaries and product companies through online, loyalty, print, and in-person initiatives. Leafbuyer Technologies, Inc. recently announced that the Company has signed up more than 50 licensed medical dispensaries within the Oklahoma market. The statement closely follows a February 12, 2019, release announcing 31 dispensary client signups. Oklahoma voters passed medical marijuana legislation in June 2018. Patients can register for medical marijuana and be authorized for any condition a doctor deems appropriate. As of February 25, more than 50,000 patients have been approved. "Our success within the Oklahoma market is a direct result of aggressive marketing and sales initiatives," said Kurt Rossner, Chief Executive Officer of Leafbuyer. "We plan to replicate the strategies we used in Oklahoma within other emerging markets, boosting revenue and expanding our national footprint."
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