NEW YORK, May 3, 2018 /PRNewswire/ --

A report by Arcview Market Research indicates that consumer spending on legal cannabis in North America is outpacing previous estimates. The report highlights that retail cannabis sales will grow 33% from 2016, to about $10 billion this year. The data published projects that by 2021 the legal cannabis market will reach a value of $24.5 billion and at a 28% compound annual growth rate (CAGR). Arcview also pointed out that according to BDS Analytics' GreenEdge point-of-sale tracking service, the medical industry in California is already as big as the total markets in Colorado, Washington, and Oregon combined. Starting January 1st, California has started legal sales of cannabis products for recreational use. Scythian Biosciences Corp SCCYF, Zynerba Pharmaceuticals, Inc. ZYNE, Aphria Inc. APHQF, The Green Organic Dutchman Holding Ltd TGOD, Canopy Growth Corporation TWMJF

A report by CNBC quotes MedMen CEO and co-founder Adam Bierman, who explains the current state of the industry, "There is so much excitement now around legalization nationally coming in Canada. There is so much excitement about the fact that California, Nevada, Maine and Massachusetts all legalized recreational marijuana… The Canadian public markets offer access to a lot of capital, with a lot of certainty and a lot of speed, and there is this appetite among global investors to invest in a U.S. play… Specifically, global investors want to invest in a U.S. play that has California exposure. Now is the time where it makes the most sense."

Scythian Biosciences Corp SCCYF is also listed on the TSX Venture Exchange under the ticker (TSX-V: SCYB). Earlier today the company announced breaking news that, "Jamaica-based Marigold Projects Jamaica Ltd. ("Marigold"), a company that Scythian is in the process of acquiring a 49% interest in, has signed an exclusive sponsorship agreement with the world-renowned Peter Tosh Museum (the "Museum") in Kingston, Jamaica. Under the terms of the agreement, Marigold will become the exclusive cannabis dispensary partner of the Museum.

Marigold is set to establish its first medicinal cannabis dispensary and herb house at the Peter Tosh Square, home of the Peter Tosh Museum at the Pulse Centre in New Kingston. As the exclusive cannabis sponsor, Marigold will bring its brands of medicinal products to the facility which will be showcased prominently on various displays throughout the Museum.

The Museum opened its doors on October 19, 2016, and honours the life and work of Peter Tosh, Jamaica's global music legend and founding member of the critically acclaimed reggae group, The Wailers. The Museum is located at the Pulse Centre on Trafalgar Road in New Kingston and is a joint collaboration between The Peter Tosh Estate, Pulse Investments Ltd and Andrea Marlene Brown.

"We are honoured to provide the highest quality cannabis products to such a distinguished institution focused on recognizing a beloved Jamaican musician who championed the cause of legalizing cannabis," said Scythian CEO Rob Reid. "We look forward to helping his legacy live on through our commitment to furthering medical marijuana research and expanding access to cannabis in the future."

On March 22, 2018, Scythian announced that it had entered into a binding letter of intent ("Letter of Intent") to acquire Marigold Acquisitions Inc. ("Holdco"), a company that holds a 49% interest in Marigold. If the proposed acquisition is completed, Scythian will become a major stakeholder of Marigold. Marigold holds five conditional cannabis licenses from the Jamaican Cannabis Licensing Authority ("CLA") related to cultivation, processing, selling, therapeutic or spa services, and R&D activities.  Marigold is also working with the University of West Indies to develop and test products derived from high cannabidiol cannabis sativa strains to establish their efficacy in treating diabetes, hypertension, pain and other ailments. The proposed acquisition is subject to regulatory approval from the TSX Venture Exchange ("TSXV"). The proposed acquisition also remains subject to notification to the CLA. The opening of the herb house remains subject to CLA approval.

On April 18^th, Scythian Biosicences Corp. also announced that Argentina-based ABP S.A. ("ABP"), a pharmaceutical import and distribution company that Scythian is in the process of acquiring, has received its first purchase order (the "Order") of CBD oil, which is to be fulfilled under the supply agreement with Aphria Inc. APH ("Aphria"), a prominent Canadian producer of medical cannabis. The Order is for Aphria's renowned CBD oil strain, Rideau. ABP's first order will go to the Dr. Juan P. Garrahan Pediatric Hospital (the "Hospital"), a highly recognized and one of the most credible medical institutions in South America, to support a first of its kind clinical study focused on treating refractory epilepsy in children. The study, which will be conducted over 2.5 years, will also determine the product's pharmacokinetics in order to optimize the dosage of future treatments. The study will include the participation and guidance of some of the top neurologists and pediatric specialists in the country. Additionally, with the support of Scythian and ABP, a training program will be conducted during and after the study to train and educate a network of specialized doctors across multiple provinces in the country using Aphria's pharmaceutical grade medical cannabis."

Zynerba Pharmaceuticals, Inc. ZYNE is a clinical-stage specialty pharmaceutical company dedicated to developing and commercializing innovative pharmaceutically-produced transdermal cannabinoid treatments for rare or near-rare neuropsychiatric diseases with high unmet medical needs. Recently, the company reported new longer term open label clinical data in the Emerging Science session of the 2018 Annual Meeting of the American Academy of Neurology (AAN) in Los Angeles, CA. The key findings include that responses to ZYN002 in the STAR 2 open label extension, as measured by reductions in focal seizures from the baseline period of STAR 1, are associated with continued treatment with ZYN002. In addition, ZYN002 was shown to be well tolerated through 12 months of treatment in STAR 2. Zynerba's ZYN002 CBD gel is the first and only pharmaceutically-produced CBD formulated as a patent-protected permeation-enhanced gel and is being studied in children with Fragile X Syndrome, adult epilepsy patients with focal seizures and osteoarthritis.

Aphria Inc. APHQF, one of Canada's lowest cost producers, produces, supplies and sells medical cannabis. On April 24, 2018, the company announced that its first shipment of medical cannabis to its Australian-based partner Althea Company Pty Ltd. was received by Althea. The shipment is part of a previously announced agreement between Aphria and Althea, in which Aphria will provide the Australian Company with packaged co-branded cannabis oil and dried flower products for the Australian medical cannabis market. This is the first of four shipments Aphria will be making to Althea over the next 12 months, with each successive shipment expected to increase in volume. The initial shipment included a mix of cannabis oil products and dried flower, which Althea is making available for distribution to pharmacies for eligible medical cannabis patients in Australia.

The Green Organic Dutchman Holding Ltd TGOD produces Farm Grown, Pharma Grade Organic Cannabis. The Company grows high quality, organic medical cannabis with sustainable, all natural principles. TGOD's products are laboratory tested to ensure patients have access to a standardized, safe and consistent product. TGOD has a funded capacity of 116,000 kg and is situated on 175 acres of land between two of the most populated areas of Canada; Ontario & Quebec. TGOD owns one of the largest land packages in Canada with some of the lowest power rates in the country. The Company is building a combined 970,000 sq. ft. facility capable of producing 116,000 kg of premium, high quality, organic cannabis. TGOD is licensed under the Access to Cannabis for Medical Purposes Regulations ("ACMPR") to cultivate medical cannabis.

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. On April 17, 2018, the company announced the signing of a Memorandum of Understanding to create new experience-based learning opportunities for college students and graduates. This valuable partnership will also support the increased workforce demand at Canopy Growth facilities across Canada and generate joint research and community engagement opportunities for the Niagara region, an area the Company has proudly called home since June 2014. Canopy Growth and Niagara College will work together to foster learning in this rapidly growing industry while also supporting graduates searching for job opportunities. Internship and co-op opportunities will be available for students in the College's Commercial Cannabis Production, Horticultural Technician, Greenhouse Technician and Business programs, particularly at the Tweed Farms facility in Niagara-onthe-Lake, with additional placement opportunities available at Canopy Growth's 12 other facilities across the country. Tweed Farms is a wholly-owned subsidiary of Canopy Growth and was the first greenhouse licensed in the sector under the MMPR/ACMPR.

Subscribe Now! Watch us report LIVE https://www.youtube.com/FinancialBuzzMedia

Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz

Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz

Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/

About FinancialBuzz.com  

FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the 'Site') is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. Financialbuzz.com has not been compensated directly by any of the companies mentioned here in this editorial. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For scythian biosciences corp. financial news dissemination and PR services, FinancialBuzz.com has been compensated four thousand dollars by winning media. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.financialbuzz.com.

Media Contact:
info@financialbuzz.com
+1-877-601-1879

Url: http://www.FinancialBuzz.com

SOURCE FinancialBuzz.com