NEW YORK, August 6, 2018 /PRNewswire/ --

According to recent data published by Arcview Market Research in partnership with BDS Analytics, the United States' legal cannabis market is projected to reach USD 11 Billion in consumer spending in 2018, then hit over USD 23 Billion by 2022. The data indicates that despite the Federal prohibition, the U.S. legal cannabis industry experienced 31% growth in 2017 as it reached USD 8.5 Billion. Arcview estimates that the continuing state-by-state roll-out of medical-use programs and adult-use (recreational) legalization, will bring nationwide spending in the U.S. to USD 23.4 Billion in 2022 all while growing at a 22% compound annual growth rate over that five-year forecast period. CLS Holdings USA Inc. CLSH, Tilray Inc. TLRY, Zynerba Pharmaceuticals Inc. ZYNE, Organigram Holdings Inc. OGRMF, Aphria Inc. APHQF

The cannabis industry is becoming highly competitive as businesses are exploring strategies to stand out from among the crowd. Lowering energy costs can be one factor to focus on. "Data is the basis to any business' ability to optimize, if not to measure efficiency and profitability. In the cannabis industry, where electricity is the second highest expenditure in a cultivation operation, lowering energy costs can make the difference in whether a business survives in this increasingly competitive environment. Wholesale pricing has now dropped by over 50% in most key markets across the United States; having the ability to manage cost could not be more timely for both new and existing businesses touching the plant," said Giadha Aguirre De Carcer, New Frontier Data CEO and Founder.

CLS Holdings USA Inc. CLSH recently announced the, "appointment of Frank Tarantino as Chief Financial Officer. Mr. Tarantino brings big four public accounting and private and public company management and financial expertise, which will be extremely beneficial in leading the Company through its next phase in organic growth and acquisitions.

Mr. Tarantino stated, 'I am pleased to join CLS post-acquisition of Oasis Cannabis and look forward to working with the executive team in its strategic transition into vertically integrated operations, and expanding its operations in Nevada and other key markets.'

Mr. Tarantino has more than 18 years of executive management experience in public and private companies and six years of experience in public accounting. Prior to joining CLS, Mr. Tarantino was the COO/CFO of Wild Things, an outdoor clothing manufacturer and retailer serving the US Military and foreign governments. Prior to Wild Things, Mr. Tarantino worked as the Vice President of Finance at Cornerstone Brands, an acquisition and holding company concentrating on high end, online and direct mail retailers. Mr. Tarantino was involved with several acquisitions and managed the Company's bank syndicated credit line, which peaked at USD 135 Million. Mr. Tarantino also worked on raising capital for both Wild Things and Cornerstone Brands. In the early stages of his career, Mr. Tarantino worked as an auditor for Coopers and Lybrand, now Pricewaterhouse Coopers, in the Boston office where he concentrated on auditing financial institutions, banks, broker-dealers and institutional investors.

Mr. Tarantino earned a BS in Accounting and Finance from Babson College, Wellesley, MA and earned his Certified Public Accountant Certificate from the State of Massachusetts."

Mr. Lamadrid has elected to resign due to personal considerations. CLS Chief Executive Officer Jeff Binder stated, "We thank Mr. Lamadrid for working with us as we expanded into vertically integrated operations, and seeing us through the entire process of acquiring Oasis."

Tilray Inc. TLRY is a global pioneer in the research, cultivation, production and distribution of medical cannabis and cannabinoids currently serving tens of thousands of patients in ten countries spanning five continents. The Company recently announced that a study featuring Tilray 2:100, a medical cannabis oil containing high amounts of cannabidiol (CBD) and conservative amounts of tetrahydrocannabinol (THC), has shown promising results for children with drug-resistant epilepsy (DRE) due to Dravet Syndrome. The findings of the Phase II trial, which was designed and conducted by researchers at The Hospital for Sick Children in Toronto (SickKids), were published today in the peer-reviewed medical journal Annals of Clinical and Translational Neurology. Tilray 2:100 contains the highest concentration of cannabis-extracted CBD in a medical cannabis product available through Canada's Access to Cannabis for Medical Purposes Regulations (ACMPR). Tilray 2:100 has a target concentration of 100mg/ml CBD and 2mg/ml THC for a total cannabinoid amount of 4,000mg CBD and 80mg THC in each 40ml bottle. As the first study of its kind to examine with rigor the dosing and tolerability of a mixed cannabinoid product containing both CBD and THC in children with DRE due to Dravet Syndrome, these results set the foundation for further work to advance successful treatment and outcomes for this population of children who until now, had little hope for better health outcomes.

Zynerba Pharmaceuticals Inc. ZYNE is the leader in pharmaceutically-produced transdermal cannabinoid therapies for rare and near-rare neuropsychiatric disorders. The Company recently reported its financial results for the second quarter ended June 30th, 2018 and provided an overview of recent operational highlights. As of June 30th, 2018, cash and cash equivalents were USD 43.1 Million, compared to USD 52.1 Million as of March 31, 2018. Research and development expenses for the second quarter of 2018 were USD 8.5 Million, including stock-based compensation of USD 0.8 Million. General and administrative expenses for the second quarter of 2018 were USD 3.4 Million, including stock-based compensation expense of USD 1.0 Million. Net loss for the second quarter of 2018 was USD 12.0 Million with basic and diluted net loss per share of USD (0.89). The Company initiated and is currently enrolling patients in CONNECT-FX (Clinical study of Cannabidiol (CBD) in Children and Adolescents with Fragile X), a pivotal, multi-national, randomized, double-blind, placebo-controlled study evaluating the efficacy and safety of ZYN002 in three to 17-year old FXS patients with full mutation of the FMR1 gene.

Organigram Holdings Inc. OGRMF is a TSX Venture Exchange listed company whose wholly owned subsidiary, Organigram Inc., is a licensed producer of cannabis and cannabis-derived products in Canada. The Company recently announced that it will provide funding to Mount Allison to support the University's efforts to ensure the new legislation is fully communicated on campus, and to implement appropriate harms reduction initiatives established by the University. The funding provided by Organigram and the RDC also enables the University to support harms reduction education programming through the addition of a Harms Reduction Educator. This new Mount Allison staff member will begin in August and will work directly with students, the campus community, other post-secondary institutions, and provincial agencies. The funding will also support and advance educational outreach campaigns targeted at key areas including mental health, addictions, and harms reduction for both residence and off-campus students. Mount Allison will work to facilitate communication and share best practices and policies with other New Brunswick campuses, with a provincial workshop planned for early fall.

Aphria Inc. APHQF is a leading global cannabis company driven by an unrelenting commitment to our people, product quality and innovation. Aphria recently reported its results for the fourth quarter and year ended May 31st, 2018, an eleventh consecutive quarter of positive Adjusted EBITDA from ACMPR operations. CAD 2.2 Million in adjusted EBITDA from ACMPR operations in the quarter and CAD 8.4 Million for the year, a 38% increase over the prior year; Improved cash costs to produce dried cannabis per gram to CAD 0.95, a decrease of CAD 0.01 in the quarter, remaining below CAD 1.00 for the second consecutive quarter; International operations and presence increased from Canada, US and Australia to also include Germany, Malta, Lesotho, Italy, Colombia, Argentina, United Kingdom and Uruguay. "We had a healthy fourth quarter and a solid year with many achievements we are proud of," said Vic Neufeld, Chief Executive Officer, Aphria. "We are excited and ready to hit the ground running on the first day of legal adult-use. It won't be without its challenges but we have a plan and the team in place to get it done. We continue to sign supply agreements with provinces and territories, and our Southern Glazer's sales network partnership is unmatched, ensuring our brands and products are available and represented by retailers across the country."

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