NEW YORK, Sept. 26, 2019 /PRNewswire/ -- Throughout the evolution of the cannabis industry, savvy cultivators have designed innovative and refreshingly new strains for consumers. Cannabis has been prevalent for centuries and the earliest species of cannabis strains were known to grow around the mountainous Hindu Kush region of Pakistan. The region was deemed perfect for growing cannabis because of its environmental factors, but after years of adaptations, growers realized that cannabis grows much better in tropical climates. Predominantly, many cannabis cultivators grow their plants outdoors, however, with prohibition sweeping throughout the world, they were forced to retreat into indoor grow houses. And, beginning in the 1970s and 1980s, many cultivators began to grow cannabis underground or in indoor facilities that were powered by electrical lightings and hydroponic systems. Then, in the 1990s, cannabis legalization efforts began in the U.S. after California legalized cannabis for medical applications. Shortly after, more U.S. states and countries abroad began to adopt their own cannabis legislation. However, even after decades of legalization efforts, cannabis is still primarily grown within indoor facilities. Many cultivators tend to prefer indoor grow houses because it gives them full control over the environmental factors, thus allowing them to grow cannabis anywhere in the world regardless of climate. For instance, if a cultivator is growing a plethora of tall and bulky plants, they could easily dial up the irrigation system and amp up airflow throughout the facility. Overall, the total control of an indoor facility allows cultivators to produce a variety of different strains. And as cultivators bring forth potent and organic products, enthusiastic consumers are eager to try them. As a result, spending on legal cannabis in Canada is projected to grow at a CAGR of 44.4% from USD 569 Million in 2018 to nearly USD 5.2 Billion by 2024, according to data compiled by Arcview Market Research and BDS Analytics. Pasha Brands Ltd. /zigman2/quotes/212784086/delayed CRFTF +32.62% /zigman2/quotes/212657074/delayed CA:CRFT -12.50% , Neptune Wellness Solutions Inc. /zigman2/quotes/207537677/composite NEPT +4.42% /zigman2/quotes/203840062/delayed CA:NEPT +4.59% , Organigram Holdings Inc. /zigman2/quotes/209289540/lastsale OGI +5.51% /zigman2/quotes/202287350/delayed CA:OGI -0.44% , KushCo Holdings, Inc. /zigman2/quotes/209165034/delayed KSHB +2.24% , Acreage Holdings Inc. /zigman2/quotes/205165963/delayed ACRGF +1.37%
While many cultivators operate indoor facilities, several small ingenious growers have taken cultivation to another standard. "Craft cannabis" cultivators have become increasingly popular for their unique and potent strains. Overall, craft cannabis is an artisanal product, similar to craft beer or craft coffee, where producers take immense pride in their work. Craft beer and craft coffee producers select only the highest quality of ingredients to create a distinctive product. Similarly, craft cultivators strive to select high-quality strains and grow their cannabis in optimal environmental conditions. Typically, craft products are much pricier than generic standard products. However, many consumers have mentioned that they are willing to pay more for an organic product rather than a black market product. Notably, craft cultivators avoid using artificial byproducts to grow their cannabis. In particular, craft producers avoid chemicals such as pesticides or growth stimulants as they aim to grow their cannabis through a natural process. The use of pesticides or other growing chemicals can significantly damage the plant and its cannabinoid content, resulting in a weaker product. On the other hand, many large-scale licensed producers use pesticides to automate more of the process to reduce bug infestations and molding. However, craft cultivators constantly tend to each and every individual plant to avoid the possibility of such an outbreak. The tedious process in which craft cultivators undergo creates an uncomparable strain that stands out against generic commercialized products. "Craft cannabis is a vibrant and growing business that will continue to thrive," said Michael Camplin, Sales Manager for GGS Structures. "But the real reason craft cannabis will never die, is human beings want choice. We all want freedom of choice in our lives. This is the foundation that many of today's cannabis farmers started on, and this is the essential human spirit."
Pasha Brands Ltd. /zigman2/quotes/212784086/delayed CRFTF +32.62% /zigman2/quotes/212657074/delayed CA:CRFT -12.50% is also listed on the Canadian Securities Exchange under the ticker /zigman2/quotes/212657074/delayed CA:CRFT -12.50% . Yesterday, the Company announced that, "its wholly owned subsidiary BC Craft Supply Co. ("BC Craft") has signed a supply agreement with Canandia Bioceutials ("Canandia"), based in Delta, BC. This supply contract will add approximately 500kg of specialized craft cannabis to BC Craft's supply chain and brings the number of licensed micro-producers BC Craft has signed supply agreements with to four.
Canandia founder, Alon Amit, brings decades of cannabis growing experience with him to the legal marketplace with businesses operating in both Canada and Israel. As a master cultivator of cannabis for medical purposes under three previous regulatory regimes in Canada since 2001, Alon has a successful track record for producing high quality cannabis, and will now form a part of BC Craft's supply chain for both the medical and national recreational market. Alon's previous company has been selling dry medical cannabis directly to the Government of Alberta's Worker's Compensation Board under an exclusive contract to supply their claimants.
Canandia had applied under previous Health Canada rules to be a Licensed Producer. However, due to its size, they were given the option to amend their license to the newly created class of micro-cultivator on October 12, 2018. The micro-cultivator licence allows for a canopy size of 2,150 square feet which will typically generate approximately 500 kg of craft cannabis per year operating out of an indoor facility.
About Pasha Brands: Based in Vancouver, British Columbia, Pasha is a prohibition-era brand house firmly rooted in BC's craft cannabis industry and is developing a nation-wide network of craft cultivators to provide the nation with high grade quality craft cannabis. With proven capabilities in cannabis cultivation, genetic research and development, product processing, and retail, Pasha is uniquely positioned in the new legal cannabis market through its network of hundreds of craft cannabis suppliers under the Pasha umbrella. Pasha subsidiary, Medcann Health Products Ltd., is a Health Canada licensed cultivator and processor with a licence to sell medical cannabis products in Canada. Pasha and BC Craft are also developing a craft cannabis campus, which is dedicated to bringing craft quality into the newly legal cannabis market in Canada. BC Craft is driven to assist craft growers in obtaining security clearance and licensing to grow as micro-cultivators, specializing in education and compliance to bring growers into the regulated cannabis supply market. Pasha's common shares trade on the CSE under the symbol "CRFT" and on the FSE under the symbol "ZZD". For more information, please visit www.pashabrands.com "
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Neptune Wellness Solutions Inc. /zigman2/quotes/207537677/composite NEPT +4.42% /zigman2/quotes/203840062/delayed CA:NEPT +4.59% specializes in the extraction, purification and formulation of health and wellness products. Neptune Wellness Solutions Inc. recently announced that its Solutions Business had begun offering turnkey product development solutions with hemp-derived ingredients to business customers in the United States. A U.S.-based supply chain of licensed hemp extract producers has been established, and initial purchase orders are now being processed. Neptune boasts long-standing experience in the management of custom and white label turnkey product development solutions comprising a diverse array of product forms including softgels, liquids, topicals, emulsions, and water-dispersible powders. Branded ingredients and products that have contributed to Neptune's success, such as MaxSimil® and ECSentialsTM formulations, could potentially be used in unique combinations with hemp ingredients, particularly as the U.S. regulatory framework around hemp extracts and cannabidiol (CBD) evolves. "The U.S. market for hemp is developing rapidly and represents a significant opportunity for the consumer products industry. Neptune is now offering products and services to American brands that want to create a unique hemp-based portfolio, with products made exclusively in the U.S. for the U.S.," said Jim Hamilton, President and Chief Executive Officer of Neptune.
Organigram Holdings Inc. /zigman2/quotes/209289540/lastsale OGI +5.51% /zigman2/quotes/202287350/delayed CA:OGI -0.44% is a NASDAQ Global Select and TSX listed company whose wholly owned subsidiary, Organigram Inc., is a licensed producer of cannabis and cannabis-derived products in Canada. Organigram Holdings Inc. recently announced that effective September 6th, 2019, it had received Health Canada's approval for the licensing of 17 additional cultivation rooms under the Cannabis Regulations. The new cultivation rooms represent approximately 15,000 kg/yr1 of increased target production capacity. These are the first 17 rooms licensed within the Company's Phase 4B expansion and now brings the Company's Moncton facility to an annualized licensed capacity to a target of 76,000 kg. "Once again, we are pleased to receive licensing approval consistent with our expectations and the streamlined process we have experienced to date. Our Phase 4 facility expansion remains on schedule to meet growing demand and further contribute to efficiencies of scale," explains Greg Engel, Chief Executive Officer, Organigram.
KushCo Holdings, Inc. (otcqx:KSHB) ( www.kushco.com ) is the premier producer of ancillary products and services to the cannabis and hemp industries. KushCo Holdings, Inc. recently announced that it has partnered with C.A. Fortune, a leading full-service national consumer products sales and marketing agency focused on lifestyle brand partnerships, to provide viable CBD companies access to large scale, conventional retail channels. The groundbreaking partnership will be the first large scale go-to-market operation focused on helping compliant CBD brands achieve mass distribution across legal markets in the U.S. The combination of KushCo's extensive network of brands and specific hemp industry knowledge paired together with C.A. Fortune's industry-leading reach into all retail channels, will offer KushCo clients an additional avenue to activate their CBD products. "One of the challenges of building a national CBD brand is obtaining mass distribution into mainstream retailers across the U.S. and this partnership immediately upgrades the go-to-market plans for CBD brands," said Jason Vegotsky, Chief Revenue Officer and President of KushCo Holdings. "There is no better time to be a part of the KushCo ecosystem. In addition to our unrivaled ancillary product offerings, we are now expanding into value added services, none greater than this partnership, which puts our client's brands in position to dominate mainstream retail."
Acreage Holdings Inc. (otcqx:ACRGF) , headquartered in New York City, is the largest vertically integrated, multi-state owner of cannabis licenses and assets in the U.S. with respect to the number of states with cannabis-related licenses, according to the publicly available information. Acreage Holdings, Inc. recently announced that on April 17th, its subsidiary, High Street Capital Partners, LLC entered into an agreement to acquire 100% of Deep Roots Medical LLC, a vertically integrated cannabis operator in Nevada, for a total deal value of USD 120 Million to be paid in common units and cash. Deep Roots marks Acreage's entry into Nevada, increasing the company's total state footprint to 20 (including pending acquisitions) - the largest in the US cannabis industry. With a population of three million, and tourism that attracts 43 million visitors per year, Nevada is estimated to generate nearly USD 800 Million in legal cannabis sales by 2022, according to Arcview Market Research. Kevin Murphy, Founder, Chairman, and Chief Executive Officer of Acreage Holdings, Inc., commented, "We continue to deliver on our shareholder commitments to aggressively expand our presence in the West. We could not be more excited for what we believe will become a leading operation in the state of Nevada, one of the most important states in the cannabis industry."
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