The Cannabis Industry Turns to Innovative Technologies to Preserve Growth

NEW YORK, July 24, 2019 /PRNewswire/ -- Last month, Illinois became the 11th state to legalize the recreational use of cannabis within the United States. The state's decision marks another high point in the movement that continues to sweep through the U.S. Specifically, Colorado, Washington and Oregon account for 42% of the total U.S. cannabis sales. Meanwhile, smaller markets such as Illinois, Massachusetts, Michigan, New Jersey, and New York only make up 11% of the total U.S. market, according to the Chicago Tribune. However, analysts from Brightfield believe that by 2023, the market share will flip, with eastern states accounting for 34% of the market, while western states drop by 20%. However, the market is still progressively maturing across the whole country, and even abroad. Furthermore, similar to other prominent global industries, the need for adaptation is prevalent within the cannabis market. The integration of technology has often made daily tasks for companies exponentially easier, further driving their financial growth. In the cannabis industry in particular, technology is being leveraged among cultivators, distributors, and retailers to create seed-to-sale blockchain ledgers. Seed-to-sale technology is a tracking and reporting system that the government and businesses both rely on. The technology keeps track of each and every single gram of cannabis from when it has been planted to when it is purchased by a consumer at the store. Moreover, throughout the process, the details are also relayed back to the government in order to ensure quality control and prevent mixture with illicit products. The advanced technology benefits both businesses and consumers by ensuring that products are delivered from a safe channel and are properly grown. Additionally, the regulatory matters that the government and businesses are implementing are further promoting the legal marketplace. And consumers who have access to information regarding where the cannabis was grown, what it was treated with, and where it has been before it was delivered will further drive sales growth. As a result, the global legal marijuana market is expected to reach USD 146.4 Billion by 2025 while registering a CAGR of 34.6%, according to data compiled by Grand View Research. Codebase Ventures Inc. BKLLF CODE, The Supreme Cannabis Company, Inc. SPRWF FIRE, MariMed Inc. MRMD, Aleafia Health Inc. ALEAF ALEF, Terra Tech Corp. TRTC

Aside from seed-to-sale blockchains, the cannabis industry has introduced a variety of innovative technologies. For instance, The Verge reported that advanced technological applications such as machine learning and automation are becoming increasingly popular within the cannabis industry. Specifically, a Massachusetts-based company, Bloom Automation, has developed a robot that can automate the cannabis trimming process, eliminating the need for humans. Furthermore, the potential integration of automated learning can develop into a more advanced system. In particular, cannabis startup Seedo has created an automatic cannabis farm system that has complete automated climate control, consistent yields, and automated hydroponic growth. By using machine learning, the systems can adapt and improve themselves to provide better results. Moreover, the integration of digital payments has also become increasingly popular within dispensaries. Similar to most retailers, many want to provide their customers with exceptional and speedy payment processing. However, due to federal regulations, many banks and payment institutions are either prohibited or have decided not to deal with businesses in the cannabis industry. Consequently, smaller payment processors have expanded their business and offered dispensaries and retailers high-speed and secure payment portals. Overall, the collective effort by tech entrepreneurs is further promoting the growth of the cannabis industry by accelerating operations and bolstering financials. "A lot of individuals nowadays are working on really advanced technologies to improve and optimize the formulation and delivery of cannabis. We are seeing new technologies that control how quickly you feel the effects, the consistency of effects, and the entire consumer experience. Tech innovation and ongoing R&D are ingredients that the industry needs to continue to mature and grow," said Michael Garbuz, Co-Founder and President of Materia Ventures and Founder of High 12 Brands.

Codebase Ventures Inc. (OTCQB: BKLLF) CODE is also listed on the Canadian Securities Exchange under the ticker CODE. Just earlier today the company announced breaking cannabis news that, "the formation of a subsidiary for its investment focus in the cannabis sector.

Codebase has formed a dedicated investment subsidiary named Code Cannabis Investments. The focus of the subsidiary will be on identifying cannabis industry assets and startups that require capital and expertise to accelerate their business models and scale to meet areas of demand in the market.

Highlights:

• Code Cannabis Investments subsidiary provides investment vehicle specific to the cannabis industry
• Code Cannabis Investments will be identifying early stage companies with significant growth potential
• Subsidiary business model aimed at delivering capital and expertise to bring innovative business models to market and generate revenues

"There are some highly talented entrepreneurs who are developing innovative and compelling business models in and as a result of the fast-growing legal cannabis sector," said Mr. George Tsafalas, President and CEO. "Our team has developed terrific relationships in the cannabis sector and the number of intriguing investment opportunities led us to form this subsidiary so that we have a laser focus on realizing the potential that exists to drive results for our shareholders."

About Codebase Ventures Inc. - The Company's mission is to make strategic investments in emerging sectors and markets, including cannabis and technologies such as blockchain and cryptocurrencies, where innovative business models and technologies have the potential to be transformative and deliver the greatest value to shareholders.

Codebase Ventures Inc. is a hands-on team of entrepreneurial and technology experts who invest early in great ideas. The Company operates from the understanding that emerging sectors including cannabis and technology are evolving rapidly, bringing early opportunities for strategic investments that can deliver the exponential returns to shareholders.

The Supreme Cannabis Company, Inc. SPRWF FIRE, is a global diversified portfolio of distinct cannabis companies, products and brands. The Supreme Cannabis Company, Inc. recently announced that it had entered into a definitive agreement under which Supreme Cannabis will acquire all of the issued and outstanding shares of privately-held Truverra Inc., to be effected by way of a three-cornered amalgamation between Truverra, Supreme Cannabis and a wholly-owned subsidiary of Supreme Cannabis. The Transaction is valued at 14.7 million common shares of Supreme Cannabis, giving the Transaction an approximate dollar value of CAD 20,000,000 as of the Company's closing price on July 16th, 2019. Located in Toronto, Truverra is a private cannabis company, serving the Canadian and international cannabis markets through its wholly-owned subsidiaries, Canadian Clinical Cannabinoids Inc. ("CCC") and Truverra (Europe) B.V.. "The recent introduction of Health Canada's amended cannabis regulations creates a distinct opportunity for Supreme Cannabis to establish a leading position in the cannabis extracts markets. With the acquisition of Truverra, we secure a Toronto-based facility equipped to extract our high-quality inputs for concentrates and vaping liquids in the near-term," said Navdeep Dhaliwal, Chief Executive Officer of Supreme Cannabis. "Truverra's operations also provide an additional entry point into Europe's CBD wellness market, where Truverra Europe has successfully launched multiple CBD products in various jurisdictions. Truverra's Canadian and European operations are managed by a senior leadership team with a wealth of experience manufacturing and launching products in highly-regulated industries such as life sciences and pharmaceuticals."

MariMed Inc. MRMD is dedicated to improving health and wellness with the highest quality hemp and cannabis products. MariMed Inc. recently announced that its MariMed Hemp subsidiary will acquire 70% of MediTaurus, LLC, owner of the international Florance™ brand of CBD health and wellness products and extensive intellectual property (IP) relating to cannabis formulations. The Florance™ brand is established in the U.S. and EU with online distributors, wholesalers, pharmacies and physicians. Terms of the transaction were not disclosed. This is the first acquisition for MariMed Hemp, which was formed to optimize MariMed's strategic investment in GenCanna Global, Inc., the Kentucky-based producer of compliant, quality CBD derived from hemp. Bob Fireman, Chief Executive Officer of MariMed Inc., noted, "This transaction is extremely important for MariMed for three reasons: First, from an operational standpoint, the Florance™ brand jump-starts our MariMed Hemp division with an established, premium line of CBD health and wellness products and formulas in the U.S. and the EU, global licensing of MediTaurus IP; and a network of established European relationships. Florance™ provides a ready platform for new product introductions, including diversity of the uses of hemp including food, food supplements and topicals. MariMed will help rapidly scale up production, distribution and licensing partnerships throughout the major U.S. markets where MariMed operates and sells; Second, with MediTaurus and its co-founders, including Dr. Žiburkus, comes a wealth of expertise and research experience into the benefits and function of compounds found in cannabis and hemp. Dr. Žiburkus will be both a trusted advisor and continue his key roles of needed scientific research and balanced education of the medical community on the benefits cannabinoids offer for a variety of health conditions; Finally, MediTaurus is a perfect fit with MariMed's mission, values and corporate culture to unlock and introduce the known and yet-to-be-discovered health benefits of cannabis and hemp."

Aleafia Health Inc. ALEAF ALEF is a leading, vertically integrated cannabis health and wellness company with four primary business units. Aleafia Health Inc. recently received multiple Export Permits from Health Canada, which allowed the Company to begin its first international cannabis product shipment. The Company expects to ship its branded medical cannabis oils in the next month, and will be distributed by Australian Licensed Producer CannaPacific Pty. Limited, which Aleafia Health owns a 10% equity stake in. The Permits allow specifically for the export of the Company's branded medical cannabis oils, including drops and sprays. As previously announced, the Company has already received the corresponding Permits to Import medical cannabis products from the Australian Government's Department of Health. "The receipt of Health Canada Export Permits enables Aleafia Health to sell high-margin, value-added cannabis products across international borders for the first time, representing a major milestone as we augment our global distribution platform," said Aleafia Health Chairman Julian Fantino. "We continue to prove the international viability of our highly differentiated cannabis health and wellness ecosystem with products, clinic operations, education and distribution. With among the largest cultivation and extraction footprints in Canada coming online, we will continue to look to new international markets."

Terra Tech Corp. TRTC operates through multiple subsidiary businesses including: Blüm, IVXX Inc., Edible Garden, and MediFarm LLC. Terra Tech Corp. recently announced that all of its currently operating California facilities have been issued a provisional license from the State of California, which is valid for one year and requires METRC compliance. The issuance of these licenses ensures that operations will continue in a lawful and uninterrupted manner for the next year. Licenses are issued only after an exhaustive review of operational and corporate documents that provide assurance to the State of California that lawful and transparent operations are being conducted and verify transparency of financial and ownership information. Terra Tech is migrating its entire existing inventory into the Marijuana Enforcement Tracking Reporting Compliance (METRC) system, bringing all licensed activities into compliant operations. Chief Executive Officer, Derek Peterson, said, "I would like to thank the State of California for recognizing our efforts to ensure transparency and regulatory compliance at all our locations, and for issuing these provisional licenses, including one for our recently renovated Oakland cultivation facility. We are proud to be using the METRC software system to record the inventory and movement of our cannabis products through the commercial supply chain; this system advances the State of California's objectives to promote a regulated, safe and conscientious cannabis market so that consumers can be assured that the products they're buying are safe."

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