NEW YORK, April 5, 2018 /PRNewswire/ --

According to a report by Ameri Research Inc., the global legal cannabis market was valued at $14.3 billion in 2016 and is estimated to grow at a CAGR of 21.1% between 2017 to 2024, while reaching a value of $63.5 billion by 2024. The market is going through a period of robust growth due to increasing legalization and decriminalization of cannabis products across North America. The state of California has legalized products for recreational use on January 1^st. The state is expected to play an important role in the growth of the industry. As a result, new businesses are expected to contribute to California's tax revenue. The LA times reported that, California is on the verge of creating a legal market for cannabis worth more than $5 billion that will help make the state a destination for pot-loving tourists. Helix TCS Inc. HLIX, GW Pharmaceuticals plc GWPH, Innovative Industrial Properties, Inc. IIPR, Canopy Growth Corporation TWMJF, 22nd Century Group, Inc. XXII

Editor-in-Chief at Arcview Market Research and Principal Analyst at BDS Analytics, Tom Adams, explained: "Our data shows positive indicators across the board for the legal cannabis industry, in North America and around the globe… The passage of the 2016 ballot initiatives and continued maturation of the existing Adult-Use markets are the primary drivers of the growth this year. That's nothing compared to what we can expect in 2018 and beyond from Nevada's tourism, and California and Canada planning to launch Adult-Use sales in 2018."

Helix TCS Inc. HLIX earlier this week announced record breaking news for its 2017 financial results, "For the fiscal year ending December 31, 2017, Helix generated revenues of $4,029,800, representing 90% growth over 2016 revenues of $2,121,600. Gross profit increased from $286,444 in 2016 to $1,152,776 in 2017, representing an increase in gross margin from 13.5% to 28.6%, respectively."

"In 2017, our second full year of operations, Helix continued to deliver on our strategic plan. Our revenue growth is greater than the industry's expansion rate, reflecting the reality of our significant and growing market share. Further, nearly doubling our revenue while more than doubling our gross margin is a clear indication of the quality of our operators and the robust nature of our business model," stated Helix CEO, Zachary L. Venegas. "Driving organic growth as well as completing the acquisition and integration of Security Grade Protective Services last year demonstrates that we have the internal capabilities to execute our strategy and continue to build real value for clients, employees, and shareholders. Our ability to offer an integrated operating solution to our clients will only continue to increase as we add services and expand into new states and countries in 2018."

Helix's CFO, Scott Ogur, CFA added, "We closed the Security Grade acquisition in early June and worked diligently on the seamless integration of its operations into the existing Helix security platform, which added significantly to Helix's revenue growth and gross margin expansion."

GW Pharmaceuticals plc GWPH is a biopharmaceutical company focused on discovering, developing and commercializing novel therapeutics from its proprietary cannabinoid product platform in a broad range of disease areas. On March 13, 2018, the company announced receipt of Notices of Allowance for five new Epidiolex® patent applications that will be listed in the Approved Drug Products with Therapeutic Equivalence Evaluations (commonly known as the Orange Book) if the NDA for Epidiolex is approved. Once issued, these patents are set to expire in 2035. One or more patents may be eligible for additional patent term through patent term adjustment and/or regulatory exclusivities.

Innovative Industrial Properties, Inc. IIPR targets medical-use cannabis facilities for acquisition, including sale-leaseback transactions, with tenants that are licensed growers under long-term, triple-net leases. Recently, the company announced results for the fourth quarter and year ended December 31, 2017, the fourth full quarter since the Company commenced real estate operations and completed its initial public offering in December 2016. The Company generated total revenues of approximately $2.3 million in the quarter. The Company recorded net income of approximately $284,000 for the quarter, or $0.07 per diluted share, and adjusted fund from operations of approximately $817,000, or $0.23 per diluted share. The Company acquired a medical-use cannabis cultivation and processing facility in a sale-leaseback transaction with a subsidiary of The Pharm, LLC in Arizona for total consideration of $18.0 million.

Canopy Growth Corporation TWMJF is a world-leading diversified cannabis and hemp company, offering distinct brands and curated cannabis varieties in dried, oil and Softgel capsule forms. In February, the company announced the signing of a definitive supply agreement with Sunniva Inc. Through the terms of this two-year agreement, Canopy Growth will purchase up to 90,000 kilograms of dried cannabis from Sunniva's wholly-owned Canadian subsidiary, Sunniva Medical Inc., a late-stage Access to Cannabis for Medical Purposes Regulations applicant, and sister company of Natural Health Services, the sector's largest non-Licensed Producer medical patient network with tens of thousands of active registrations in the ACMPR. The agreement will see Sunniva grow Canopy's existing line-up of award winning genetics as well as its own branded products, both for sale through Canopy Growth's extensive distribution network.

22nd Century Group, Inc. XXII is a plant biotechnology company focused on technology which allows it to increase or decrease the level of nicotine in tobacco plants and the level of cannabinoids in hemp plants through genetic engineering and plant breeding. In September 2014, 22nd Century's wholly-owned subsidiary, Botanical Genetics, LLC, entered into a worldwide license agreement with Anandia Laboratories Inc. Under the terms of the agreement, the company was granted an exclusive sublicense in the United States and a co-exclusive sublicense in the remainder of the world, excluding Canada, to patents and patent applications relating to the cannabis plant that are required for the production of cannabinoids, the major active ingredients in the cannabis plant. The Anandia sublicense continues through the life of the last to expire patent, which is expected to be 2035.

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