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Reports Pointing To Impressive Growth For Global Cannabis Industry

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Reports Pointing To Impressive Growth For Global Cannabis Industry
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Financialnewsmedia.com News Commentary

The global cannabis industry is enjoying explosive growth. Hemp-derived cannabidiol (CBD) alone could become a $22 billion market by 2022, according to Brightfield Group, while the marijuana market could one day reach $166 billion in annual sales, according to Bank of America (NYSE: BAC). Analysts at Piper Jaffray say we could be looking at a global market value of between $250 billion to $500 billion a year in the long term and to be worth $15 billion to $50 billion in the nearer term.“We believe the long-term growth can be significant — both from transitioning illicit trade to legal sales, medical sales, and from transitioning sales in health [and] wellness categories to CBD-infused products.”

Some of the top companies in the industry include RavenQuest BioMed Inc. (OTC: RVVQF), OrganiGram Holdings Inc. (NASDAQ: OGI), Harvest One Cannabis Inc. (TSX-V:HVT), The Green Organic Dutchman Holdings Ltd. (OTC: TGODF), and The Supreme Cannabis Company Inc. (OTC: SPRWF).

RavenQuest BioMed Inc. (OTCQB: RVVQF): RavenQuest BioMed Inc. just announced that it signed a Heads of Agreement with Norway’s Cannabis BioCare A to enter into a joint venture to construct cannabis production facilities using RavenQuest's Orbital Garden grow technology in certain geographic regions. It is anticipated that production facilities will be constructed within twenty-four months, with the capacity to produce up to 35,000 kilograms of cannabis annually.

“Our organization has quietly and patiently conducted research as a pre-cursor to entry into the global cannabis marketplace. Our due diligence process has been exhaustive and has involved conversations with several Canadian cannabis companies including five companies with market capitalizations in the billions of dollars. Ultimately, we chose to partner with one of the most scientific, innovative and fundamentally sound cannabis projects worldwide, namely RavenQuest BioMed,” said Cannabis Biocare founder, Gerhard Ludvigsen.

Read more news forRQB at rqbglobal.com

Other cannabis-related developments from around the markets include:

OrganiGram Holdings Inc. (NASDAQ: OGI) just announced that it applied to list its common shares on the NASDAQ Global Select Market. In advance of anticipated listing on the NASDAQ, Organigramwill filea Form 40-F Registration Statement with the United States Securities and Exchange Commission. The listing of the Company’s common shares ontheNASDAQ remains subject to the approval of the NASDAQ and the satisfaction of all applicable listing and regulatory requirements. The Company will continue to maintain the listing of its common shares on the TSX Venture Exchange under the symbol “OGI".

“As a management team we are seeing increased interest from investors in the U.S. and internationally and believe that having a listing on the NASDAQ will facilitate trading,” says Paolo De Luca, Chief Financial Officer of Organigram. “In addition, based on precedents in the cannabis space, we expect trading volumes to increase which should result in increased liquidity for all investors."

Harvest One Cannabis Inc. (OTCQX: HRVOF) just acquired 52% interest in Greenbelt Greenhouse Ltd. an Ontario private company located in Hamilton, Ontario.

This strategic acquisition will supply Harvest One with high quality greenhouse grown cannabis from Greenbelt’s 152,000 sq. ft. facility which will primarily be dedicated to Harvest One’s expanding cannabis-infused health, wellness, and self-care products under the Dream Water and Satipharm brands, and expanding products resulting from the recently announced acquisition of Delivra, following the closing of that transaction. The Transaction ensures that Harvest One remains a vertically integrated house of brands by controlling the production of cannabis through cultivation and extraction, and ultimately to packaged good for consumers.

The Green Organic Dutchman Holdings Ltd. (OTCQX: TGODF) just announced that it has obtained approval from Health Canada, under the Cannabis Regulations, to expand operations into its new building located in Hamilton, Ontario.The 20,000 square feet indoor facility is going to be used for cannabis cultivation; planting will start in the coming weeks.

“This is yet another important milestone forour team as we continue to ramp up production with a focus on executional excellence,” commented Brian Athaide, CEO of TGOD. “We have pioneered the concept of sustainably growing all-natural, certified organic cannabis at scale. The product we are able to offer Canadians is clean, pesticide-free and undeniably premium.”

The Supreme Cannabis Company Inc. (OTCQX: SPRWF) just announced that its wholly-owned subsidiary, 7ACRES obtained Health Canada approval for five additional flowering rooms totaling 50,000 sq ft of additional production space at its facility in Kincardine, Ontario. Total flowering room space at 7ACRES increases from 180,000 sq ft to 230,000 sq ft and 7ACRES’ annual production capacity estimate increases from approximately 26,250kg to 33,580kg. As noted previously, Supreme Cannabis expects to realize further production efficiencies following the licensing of all 25 flowering rooms, whereby 7ACRES’ potential capacity is anticipated to reach approximately 50,000kg.

“With five more flowering rooms at 7ACRES now approvedby Health Canada, the finish line is in sight,” said John Fowler, President and Founder of Supreme Cannabis.

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