North American Cannabis Market Growth Strengthens as Production Increases
A constant and continued growth of legal cannabis throughout North America is leading to expanded operations and production of new products, as well as solid stock performance as the industry continues to earn lofty revenue forecasts from analysts. ArcView, a leading research group for the legal marijuana industry, recently reported legal cannabis, hemp and marijuana sales soared in North America by 34% last year, and they're slated to grow by an average of 26% annually through 2021. That type of growth appears to be enough to attract investors to marijuana stocks such as: MYM Nutraceuticals Inc. (OTC: MYMMF) (MYM-Cse), Canopy Growth Corporation (WEED-T), Aurora Cannabis Inc. (ACB-T), Medical Marijuana, Inc. (OTC: MJNA), Terra Tech Corp. (OTC: TRTC).
MYM Nutraceuticals Inc. (MYM-Cse) is pleased to announce that the Laval Project is on schedule for completion on December 15th, 2017. MYM will then be submitting on confirmation of readiness video and Standard Operating Procedures for Cultivation to Health Canada. All underground plumbing is complete, HVAC installation is underway and next week the storage vault will be completed. All the walls of the production rooms are insulated and have the bullet proof windows installed. MYM has completed the grow equipment purchase order and was able to cut the projected costs in half. Grow equipment will arrive in 10 days to be installed. Read this and more news for MYM Nutraceuticals at: marketnewsupdates.com
In parallel, MYM's mega project 'Weedon' has been progressing rapidly with engineering land studies completed and the Health Canada application is progressing rapidly. The Weedon processing and packaging, distribution plant design has been completed and final implementation on the greenhouse design of the first phase of 300,000 sqft is close to completion. MYM is currently going through the process to acquire a 'Distribution and Dealers Import Export license' application with Health Canada, which will open up worldwide markets for MYM.
"Demand for cannabis is growing worldwide and with MYM actively investigating all opportunities in each sector of the cannabis industry, it will develop MYM into a complete Global seed-to-sale company," said Rob Gietl, Chief Executive Officer. "MYM is working to open up cannabis distribution channels globally to accelerate our growth. Our Weedon project alone has 329 acres to expand production on. As recreational cannabis opens in more markets and as global markets expand; we plan on being ahead of the curve and have supply chains ready."
In other industry news of note:
Canopy Growth Corporation (WEED-T) and Delta 9 Cannabis Inc. (NINE-V) ('Delta 9' or together, the 'Companies') applaud the framework this week announced by the Province of Manitoba regarding adult-use cannabis production, distribution, and retail. The decision by the Government of Manitoba to allow for private retail distribution of cannabis while ensuring that public safety and health concerns are the focal points of its cannabis policies is a strong and welcomed approach. As responsible existing cannabis businesses, Delta 9 and Canopy Growth plan to work collaboratively within the proposed Manitoba framework to bring locally produced products as well as the best variety from across the country to future cannabis consumers throughout the province.
Aurora Cannabis Inc. (ACB-T) announced this week that the Company has elected to exercise its right under the indenture (the 'Indenture') governing the Company's 8.0% unsecured convertible debentures due November 1, 2018 (the 'Debentures') to convert (the 'Conversion') all of the principal amount outstanding of the remaining Debentures and unpaid accrued interest thereon up to December 9, 2017 into common shares of the Company (the 'Common Shares'). Pursuant to the terms of the Indenture, the Company may force the conversion of the Debentures at the conversion price of $2.00 per Common Share when the VWAP of the Common Shares on the TSX Exchange (the 'Exchange') for 10 consecutive trading days equals or exceeds $3.00.
Medical Marijuana, Inc. (OTC: MJNA) announced yesterday that subsidiary Kannaway, LLC, the first hemp lifestyle network to offer cannabidiol (CBD) hemp botanical products, has introduced Kannaway® SuperGreens, a brand new way to take advantage of hemp's nutritional benefits. Kannaway® SuperGreens is formulated with more than 40 different superfood and nutrient dense ingredients, Kannaway® SuperGreens makes it easier to get the suggested daily intake of vitamins, minerals, fiber, protein, and other nutrients by using products such as wheat, barley, and alfalfa grasses, spinach, broccoli, kale, acai, carrot, beet, turmeric, flax and chia seeds, hemp flour, and Kannaway's exclusive Bi-Bong® herbal extracts.
Terra Tech Corp. (OTCQX: TRTC), a vertically integrated, cannabis-focused agriculture company, will release its Third Quarter 2017 results today - Thursday, November 9, 2017 after U.S. markets close. The company will also host a conference call on Thursday, November 9, 2017 at 4:30 PM Eastern.
- Dial-In Number: 1-857-232-0157
- Access Code: 422095
- Derek Peterson, Chairman and CEO of Terra Tech Corp., will be answering shareholder questions at the end of the call.
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