HOUSTON, TX / ACCESSWIRE / April 9, 2019 / Controversial or not, it’s tough to ignore the cannabis boom.
Just over the last two years, it’s been responsible for transforming multi-billion-dollar industries, including alcohol, health and wellness, pharmaceuticals, and tobacco.
All thanks to growing acceptance following Canada’s October 2018 legalization, and broad approval for its recreational and medicinal use throughout the U.S.
Over the last few months, Massachusetts, Michigan, and Vermont passed legislation to legalize adult-use cannabis. Michigan, for instance, could be worth up to $1.7 billion over the next several years, according to Marijuana Business Daily, given its existing medical cannabis program and high cannabis usage rates.
However, that’s just the start.
According to analysts at Cowen, U.S. cannabis sales alone could reach $80 billion by 2030 – an increase of $5 billion from earlier estimates, and a 4% compound annual growth rate.
As that story develops, some of top companies that could benefit from sizable industry growth include Captor Capital Corp. (CSE:CPTR)(OTC:CPTRF), Tilray Inc. (NASDAQ:TLRY), and Emerald Health Therapeutics Inc. (TSXV:EMH)(OTC:EMHTF).
Vertically integrated cannabis company Captor Capital Corp. (CPTR)(CPTRF) just entered into a Letter of Intent to form a Joint Venture Company with Green Buddha Group LLC, a company with significant cannabis assets in Michigan. Under the terms, Green Buddha will transfer licenses to operate 20 retail medical cannabis retailers, two licenses to operate a cannabis manufacturing, processing, and extraction facility, and eight licenses to operate a 325,000 sq. ft. cannabis cultivation facility to the joint venture.
”Our new joint venture with Green Buddha Group will allow us to strengthen our primary strategic focus of acquiring cannabis-based companies with great potential of profit and with top quality operations and an experienced management team,” said Captor Capital CEO John Zorbas. ” This will give Captor entry into the potentially lucrative cannabis market in the state of Michigan.”
For More Information on Captor Capital Corp., Click Here.
Tilray Inc. (TLRY) recently signed a letter of intent (LOI) with LiveWell Canada Inc. Under the terms of agreement, Tilray will buy hemp-derived CBD isolate sources in Canada and the United States. The CBD isolate that Tilray is buying from LiveWell Canada will be used for Tilray’s wellness and medical products in Canada and the U.S.
For More Information on Tilray Inc., Click Here.
Emerald Health Therapeutics, Inc. (EMH)(EMHTF) just signed a letter of intent to supply cannabis to the Société Québécoise du Cannabis (SQDC), Quebec’s sole legal distributor of recreational cannabis. Under the agreement, Emerald will supply cannabis to the SQDC from its Québec-based Saint-Eustache facility, Verdélite, as well as from its 50%-owned joint venture, Pure Sunfarms, in Delta, BC.
”Québec’s population of 8.4 million is a sizable market and we are pleased to be able to offer locally-grown, quality cannabis products to the adult-use consumers throughout the province,” said Dr. Avtar Dhillon, President and Executive Chairman of Emerald. ”Verdélite is now near completion of the build-out of its 88,000 square foot indoor cultivation facility and has been scaling up production in licensed areas of the operation. We expect to be in full production and to also have nationwide distribution for the recreational market in the months ahead.”
For More Information on Emerald Health Therapeutics Inc., Click Here.
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