NEW YORK, May 14, 2020 /PRNewswire/ -- While cannabis legalization is rapidly spreading, the plant is still considered a Schedule 1 controlled substance under federal regulations. And despite medical breakthroughs, there is still concern over the broad use of cannabis. Regulators are worried about the potential abuse of marijuana, which is a plant within the cannabis family. There is greater concern with the marijuana counterpart mainly because of its main active ingredient: THC or tetrahydrocannabinol, which is typically known to cause psychoactive effects on its consumers. However, with ongoing clinical trials and research, health officials have begun to realize that cannabis can be used as a potential medical treatment. Following the emergence of the legal cannabis market, the number of users steadily began to rise. Principally, most consumers are medical patients using cannabis to ease symptoms related with cancer, HIV/AIDS, multiple sclerosis, epilepsy, Alzheimer's, Parkinson's, and chronic pain. As a result, the global marijuana market is expected to grow from USD 42.20 Billion in 2017 to USD 466.81 Billion by 2025 while registering a CAGR of 35.3%, according to data compiled by Verified Market Intelligence. World High Life Plc (OTC: WRHLF) (AQSE: LIFE), Cronos Group Inc. (NASDAQ: CRON), Aleafia Health Inc. (OTC: ALEAF) (TSX: ALEF), Trulieve Cannabis Corporation (OTC: TCNNF), Planet 13 Holdings Inc. (OTC: PLNHF)
Overall, there are hundreds of studies being conducted to evaluate the efficacy of CBD. Notably, researchers are advancing studies to further promote the use of CBD for Parkinson's treatment. Currently, the research on CBD for Parkinson's is very limited and most studies are likely small-scale trials. However, the handful of studies that have been conducted suggest that CBD can have positive effects when dealing with nonmotor symptoms. For example, Rachel Dolhun, MD, Vice President, Medical Communications at The Michael J. Fox Foundation for Parkinson's Research explained that "the work to date on marijuana and cannabinoids has given promising but conflicting signals on potential benefit for motor and non-motor symptoms as well as levodopa-induced dyskinesia. This therapy may represent a future treatment option for PD, but the correct dose and formulation are not clear, full side effects and drug interactions are unknown, and benefits have not been rigorously determined. Future studies should be large and well designed to provide clear data on the safety and efficacy of marijuana and cannabinoids in Parkinson's."
World High Life Plc (OTCQB: WRHLF) (AQSE: LIFE) just announced breaking news that it,"congratulates Georges St-Pierre on the announcement of his induction into the UFC Hall of Fame.
Georges St-Pierre serves as brand ambassador for World High Life and its wholly owned subsidiary Love Hemp Ltd. Mr. St-Pierre has been inducted into the UFC Hall of Fame as a member of the Class of 2020.
'Georges St-Pierre is a globally recognized icon, his success in mixed martial arts is legendary for two reasons, his winning record and his incredible commitment to preparation,' said Mr. David Stadnyk, World High Life Founder and CEO. 'We congratulate him for this honour he has earned - having his championship pedigree and commitment to excellence on our team is inspiring as we continue to grow the business with him, aimed at achieving the highest standards.'
3-time UFC World Champion (2 time Welterweight and 1-time Middleweight), Georges St-Pierre holds a record of 26-2-0 in his professional fight career, avenging both losses. He will enter the UFC Hall of Fame's "Modern Wing," honouring fighters who debuted in the era of unified rules post November 2000, and who are at least 35 and have been retired for a minimum of one year."
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Cronos Group Inc. (NASDAQ: CRON) announced last September that it had closed itspreviously announced acquisition of four Redwood Holding Group, LLC operating subsidiaries. The transaction provides Cronos Group with a leading U.S. hemp-based products platform, including hemp-derived cannabidiol infused skincare and other consumer products that are sold online and through retail and hospitality partner channels in the United States under the brand, Lord Jones™. Mike Gorenstein, Cronos Group's Chairman, President and Chief Executive Officer, said, "this acquisition is one of a number of new growth opportunities that is differentiating our company and our strategic direction. We are pleased to have completed this acquisition and look forward to working closely with Rob and Cindy to further build on their record of innovation and fully capitalize on the platform they have created.
Aleafia Health Inc. (OTCQX: ALEAF) (TSX: ALEF) wholly owned subsidiary Emblem Cannabis Corp. announced last week that it had secured a Health Canada Licence Amendment for its Paris Facility's 30,000 sq. ft. Phase II expansion, entirely dedicated to the extraction, production, packaging and distribution of finished cannabis products. "The Phase II expansion, our crown jewel, permits an exponential increase in our ability to produce and sell high-margin cannabis health and wellness products in the medical, adult-use and international markets," said Aleafia Health CEO Geoffrey Benic. "The Paris Facility's state-of-the-art expansion, purpose built to meet EU-GMP standards, creates a unique competitive advantage with significant barriers to entry. Coupled with our ultra-low-cost outdoor cultivation, it sets us apart in the cannabis industry. This means greater breadth of formats, greater scale and automation, and ultimately higher margins as we utilize cannabis grown outdoors through our integrated production ecosystem."
Trulieve Cannabis Corporation (OTCQX: TCNNF) announced earlier in April the launch of a new product, Blue River™ Rosin Cart, through the successful partnership with Blue River™. Blue River™ Rosin is a strain-specific, full-spectrum, solvent-less hash oil. The Blue River™ Rosin Cart offers patients a safe, convenient, and controlled way to vaporize in a strain-specific solventless manner. Using advanced mechanical separation techniques, Blue River™ can naturally preserve a higher concentration of full-spectrum cannabinoids and terpenes without the use of water, chemical solvents, or other additives. "Trulieve is excited to extend our partnership with Blue River, adding to their award-winning terpene extracts, THCa and other trademark branded products on Trulieve's shelves for Florida's growing patient base," said Trulieve's Chief Marketing Officer, Valda Coryat. "Blue River's Rosin Cart adds to our innovative focus, delivering more effective and enhanced experiences for our Truliever community."
Planet 13 Holdings Inc. (OTCQX: PLNHF) announced last month that following the announcement on April 13th, 2020 that it had terminated a definitive agreement to acquire a cannabis sales license and lease for a dispensary in Santa Ana, California from Newtonian Principles, Inc., it has renegotiated the terms of Acquisition and has entered into an amendment to the Initial Definitive Agreement. "We've evaluated hundreds of locations in California and continue to believe that our Santa Ana location is the best suited for a Planet 13 style dispensary," said Bob Groesbeck Co-CEO of Planet 13. "While we can't forecast how COVID-19 might affect our timeline, we've negotiated an agreement that reduces the upfront capital invested, gives us control over the timing of fixed costs and provides flexibility on dispensary buildout. We de-risked the transaction substantially while securing the next stage of growth for Planet 13."
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