Cannabis Sector on Fire This Week
While CBD Infused Products Becoming More Mainstream
Palm Beach, FL -- October 16, 2018 -- InvestorsHub NewsWire
-- Financialnewsmedia.com -- The Cannabis and legal marijuana
industry craze is poised to reach new heights this week days before
Canada legalization takes effect. It also has become apparent
that CBD is the driving force that has allowed cannabis to go
mainstream as a variety of big-name companies and investors
continue to dump millions into the development of CBD-based
products. The investment by large corporations, covered by media
outlets across the globe, has inspired confidence in the long-term
outlook of the cannabis industry. CBD-based beverages are garnering
all of the attention due to the recent headlines of Coca-Cola
potentially getting involved in the space, but the reality is there
are a number of CBD-based products that are already generating
consistent and strong revenues on a daily basis.
Already a $1 billion market, CBD has staying power and
is not anticipated to experience slowed growth at any point in the
near future. Active Companies from around the market with
current developments this week include: Puration Inc.
(OTC:PURA),
Cronos Group Inc. (NASDAQ:CRON)
(TSX:CRON),
Medical Marijuana Inc. (OTC:MJNA),
PotNetwork Holdings Inc. (OTC:POTN),
MedMen Enterprises Inc. (OTC:MMNFF)
(CSE:MMEN).
Puration, Inc. (OTCPK:PURA)
BREAKING NEWS: Puration today
announced a podcast interview of Puration CEO Brian Shibley
released by Goldman Small Cap Research. The interview provides an
in-depth overview of where the CEO sees Puration in the cannabis
infused beverage space as major beverage companies start to show
interest and move into the market. Hear the CEO discuss the
recent interest in Puration’s EVERx CBD Sports Water shown
by LA Libations, the key innovation partner of The
Coca-Cola Company. Coca-Cola owns a minority stake in LA
Libations. Also, here the CEO discuss Puration’s ongoing and
developing relationship with Europa Sports Products, the leading
distributor of nutritional sports supplements, sports drinks and
accessories in the United States.
To listen to the interview, along with reading associated
disclosures and disclaimers, visit http://www.goldmanresearch.com/201810151213/Opportunity-Research/puration-ceo-interview.html
Puration Interview Highlights – Puration,
Inc. is a leading Texas-based, CBD-infused beverage provider. The
Company’s flagship product, EVERx, which was introduced in 2017,
targets the sports nutrition market. Puration plans to introduce
new beverages as well as grow its product portfolio organically as
well as through targeted acquisitions. As of October 2018, the
Company spun off its cannabis cultivation segment to focus its
efforts exclusively on its high-growth core CBD-infused beverage
business.
According to Hemp Business Journal, the overall hemp-based CBD
market is forecast to grow from $820 million in 2017 to $1.9
billion in 2022 and given that the market remains fragmented,
fast-growing PURA is well positioned to capture market share very
quickly.
During the interview, Puration CEO Brian Shibley and Goldman
Small Cap Research founder Rob Goldman discussed recently
demonstrated interest in the CBD infused beverage market by top
tier beverage companies. These include Constellation Brands,
Coca-Cola, Heineken, and others. Shibley also noted discussions
Puration has recently engaged with an affiliate of Coca-Cola, LA
Libations, along with a leading distributor in the sports nutrition
market, Europa. Read this and more news for
PURA at: http://www.financialnewsmedia.com/news-pura/
In the industry developments and happenings in the market
this week include:
Cronos Group Inc. (NASDAQ:CRON)
(TSX:CRON)
recently announced that it has entered into a sponsored research
agreement with the Technion Research and Development Foundation of
the Technion – Israel Institute of Technology (“Technion”) to
explore the use of cannabinoids and their role in regulating skin
health and skin disorders. The preclinical studies will be
conducted by Technion over a three-year period and will focus on
three skin conditions: acne, psoriasis and skin repair. Research
will be led by Technion faculty members Dr. David “Dedi” Meiri,
Head, Laboratory of Cancer Biology and Cannabinoid Research and Dr.
Yaron Fuchs, Head, Laboratory of Cancer Biology and Cannabinoid
Research, two of the world’s leading researchers in cannabis and
skin stem cell research, respectively. Dr. Meiri heads the
Laboratory of Cannabis and Cancer Research with vast experience in
cannabis and endocannabinoid research. Dr. Fuchs heads the
Laboratory of Stem Cell Biology and Regenerative Medicine with
years of experience in the biology of the skin and its pathologies.
Development and implementation of the research will be conducted at
Technion’s Laboratory of Cancer Biology and Cannabis Research and
the Lorry I. Lokey Interdisciplinary Center of Life Sciences and
Engineering in Haifa, Israel.
Medical Marijuana Inc. (OTCPK:MJNA)
announced that an executive from its subsidiary HempMeds® Brasil
spoke on the benefits of cannabidiol (CBD) hemp oil at the Fourth
International Congress of Neuroscience at the Albert Einstein
Hospital in São Paulo, Brazil on Oct. 5, 2018. “Participating in
the International Congress of Neuroscience allows us to connect
with medical professionals throughout Brazil and offer important
education on the benefits of CBD,” said Medical Marijuana, Inc. CEO
Dr. Stuart Titus. “Supporting CBD research and education throughout
the world is one of our top priorities and we’re honored to be a
trusted resource for the Brazilian community.” The event venue, the
Albert Einstein Hospital, is one of the most modern private
hospitals in Latin America, boasting more than six thousand
registered doctors. It was the first health institution outside the
United States to be certified by the Joint Commission
International. HempMeds® Brasil Director of Medical Affairs Junior
S. Gibelli spoke during the event and educated doctors about CBD as
a supplement for both children and adults. Some of the most highly
regarded Brazilian doctors and healthcare professionals attended
and received new information about breakthroughs in cannabis
research during this presentation.
MedMen Enterprises Inc. (OTCQB:MMNFF)
(CSE:MMEN.CN)
opened the week by announcing additional detail related to the
binding letter of intent (the “Agreement”) for MedMen to acquire
all of PharmaCann’s outstanding equity interests. Under the terms
of the Agreement, PharmaCann units will be exchanged for equity
interests which will include the right to receive the Company’s
Class B Subordinate Voting Shares (“Shares”), and which on a
pro-forma basis will equal 25% of the then fully-diluted
outstanding shares of the Company (calculated based on the treasury
stock method) upon the closing of the transaction (the “Closing”).
The total transaction was valued at $682 million (USD) based on the
closing price of the Company’s Class B Subordinate Voting Shares on
October 9, 2018 (such value being subject to change based on the
daily closing price of the Company). No change of control to the
Company will result upon the Closing. The Shares are expected to be
subject to lock up agreements for a period of between 6-12 months.
The transaction is subject to regulatory approvals by various local
and state authorities in each of the U.S. states where PharmaCann’s
assets and licenses are held (the “Approvals”). The Closing is
expected to take 6-12 months based on the receipt of the Approvals.
In the event that certain Approvals are not obtained by the
Closing, a portion of the Share consideration, as determined by the
parties (but in no event more than 30% of the consideration), will
be held in escrow until the Approvals are received, and such
escrowed Shares shall be released to PharmaCann unitholders upon
the receipt of such Approvals. In the event that an Approval is not
able to be obtained within 24 months following the execution of
definitive documentation, the parties shall will use commercially
reasonable efforts to transition such license to a third party with
any such proceeds going to the Company and any related escrowed
shares released to PharmaCann unitholders.
PotNetwork Holdings, Inc. (OTCPK:POTN)
announced this week that it has filed a Registration Statement on
Form 10 with the U.S. Securities and Exchange Commission (SEC) to
register its common stock under the Securities Exchange Act of
1934, as amended (the Act) including its audited financial
statements for the year ended December 31, 2017 and unaudited
interim financial statements through June 30, 2018. POTN had
engaged PCAOB member firm Manohar, Chowdhry & Associates, in
July 2017 to replace its former auditor. The Company’s voluntary
filing of the Form 10 will make the Company subject to the periodic
reporting requirements of the Act which includes annual, quarterly
and current report filings. Additionally, the filing will enable
the Company’s management to move forward with its application to
OTC Markets to uplist to the OTCQB market tier.
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