Officials Promote the Legal Cannabis Industry as Health Concerns Abate

NEW YORK, Oct. 30, 2019 /PRNewswire/ -- While the global cannabis industry has grown at a remarkable pace over the past several years, its growth has been hindered by burdensome regulatory challenges. As numerous countries have moved to either decriminalize cannabis for adult-use in the past decade, others have decided to legalize cannabis solely for medicinal purposes. Notably, countries such as the U.S. and Canada are thriving in the recreational market because of their large legal channels. However, recreational markets have come under intense scrutiny due to the influx of tainted products from the black market. In recent months, hundreds of medical cases have emerged related to vaping and the Centers for Disease Control and Prevention noted that THC vape products have played a major role in the outbreak. The CDC mentioned that vape products purchased from illicit vendors should be disposed of immediately and advised consumers to obtain their products from authorized retailers. New York health officials have confirmed that synthetic vitamin E is the main threat in tainted vape carts. Moreover, the U.S. Food and Drug Administration found traces of formaldehyde and pesticides in the carts as well. AS such, the data compiled by health officials has deterred many consumers from the market, including the legal industry. Research firm New Frontier discovered that nationwide vape sales even fell by 15% in the first week of September and saw no rebound through September 18th. Specifically, states such as New Mexico, Massachusetts, and Nevada witnessed their sales decline by a third, while California fell by 6%. In response to the epidemic, many industry experts have told consumers to purchase cannabis products from legal vendors, who explicitly mention the additives as well as the growing procedure of the product. And in light of recent events, consumers and federal officials alike are beginning to demand for more stringent research and better-regulated products. According to data compiled by Verified Market Research, the global marijuana market was valued at USD 42.20 Billion in 2016. Furthermore, by 2025, the market is expected to reach USD 466.81 Billion while registering a CAGR of 35.3% from 2018 to 2025. Pasha Brands Ltd. CRFTF CRFT, Tilray, Inc. TLRY, Aurora Cannabis Inc. ACB ACB, Harvest Health & Recreation, Inc. HRVSF HARV, Planet 13 Holdings Inc. PLNHF PLTH

Despite legalization efforts in certain regions, many consumers still tend to purchase their products from illegal vendors. In particular, one year after Canada fully legalized cannabis, 60% of Canadians still obtain their products from black market dealers or sources that are not entirely legal. However, the percentage has steadily fallen since Canada legalized cannabis back in October 2018. Currently, consumers purchase their products from the black market because it is typically much cheaper than obtaining goods from legal vendors. According to a study by Statistics Canada, legal cannabis now costs 65% more than black market products, increasing from 50% in the fourth quarter of 2018. And while legal cannabis may be expensive to most consumers, a study by Brightfield Group discovered that 43% of the respondents were willing to pay more for premium, while just 34% were reluctant to pay more for certified organic products. On the other hand, occasional users were more willing to pay for healthier methods of delivery. Consequently, certain consumers decided to turn towards "craft cannabis." Cultivating craft cannabis is the meticulous process of growing high quality and organic flowers, which can appeal to both spectrums of user demands. Specifically, craft cultivators avoid using any artificial products, such as pesticides and growth stimulants during the growing process. The use of additives can heavily weaken the cannabinoid content within strains and also create an inorganic product. In order to maintain a healthy and potent strain, craft cultivators tend to each and every individual plant to ensure it grows properly. "When it comes to retail, consumers will always pay more for premium-quality products. In the cannabis industry, that means top-shelf genetics cultivated in small batches will fetch higher prices," said Anne Forkutza, former Vice President of Strategic Partnerships and Brand Officer at Cova Software.

Pasha Brands Ltd. CRFTF CRFT is also listed on the Canadian Securities Exchange under the ticker CRFT. Yesterday, the Company announced that, "Between 2014 and 2018 global sales of legal cannabis more than tripled from $3.4 billion to $10.9 billion, according to the State of the Legal Cannabis Markets report from Arcview Market Research. BDS Analytics calls for a near-quadrupling from 2018 levels to $40.6 billion by 2024 at an annual growth rate of 21.9%. This has led many people to wonder, why the recent market downturn in the cannabis sector?

'Legal cannabis, particularly in Canada, has been struggling under the weight of burdensome regulations, poor supply-chain management, and quality issues,' said Jamie Shaw, Chief Communications and Culture Officer for Pasha. 'Coupled with that, companies in the sector were slow to deliver the results expected and were generally seen as overvalued. Share prices were determined at a time when there were relatively few licences that seemed to have a stranglehold on the regulated marketplace.'

While these challenges are most pronounced in today's market, for Pasha it has been an affirmation of its business plan. 'We never bought into the big-box mentality that's causing many of these problems," Shaw said. "Pasha has focused on small batch, craft producers, and has been meeting its goals at a quick pace, with the first micro-cultivation harvest expected in December.'

Pasha has been on-boarding brands and people that made legalization possible, including Baked Edibles, Earth Dragon Organics, and Beard Brothers Collective, and has acquired a Health Canada licensed facility on Vancouver Island. Pasha expects to be the first licensed, nation-wide, all-craft company to be operational by end of Q4 2019/early Q1 2020.

Of the first 5 micro-licences issued by Health Canada, Pasha has signed supply agreements with all of them. Pasha also has signed supply agreements with 60 more applicants currently in the CTLS queue with Health Canada, and another 40 navigating the licensing process with Pasha subsidiary, BC Craft Supply Co. Ltd. With 100 micro-cultivators each permitted to produce up to 500kg per year, Pasha could have the ability to bring up to 50,000kg per year of high-quality craft cannabis to Canadian consumers.

'The legal market has yet to see products with the same care and attention to detail that went into the highest quality, illicit products," said Patrick Brauckmann, Executive Chair of Pasha Brands. "Pasha is committed to bringing products to the marketplace that put the consumer first.'

Partnered with powerful distributors like Great North and developing innovative industry solutions like Craft Labs, Pasha looks to disrupt how people think of legal cannabis.

About Pasha Brands: Based in Vancouver, British Columbia, Pasha is a vertically integrated, prohibition-era brand house firmly rooted in BC's craft cannabis industry, which boasts an international reputation. With proven capabilities in cannabis cultivation, genetic research and development, product processing, and retail, Pasha is uniquely positioned in the new legal cannabis market through its network of hundreds of craft cannabis suppliers under the Pasha umbrella. Pasha subsidiary, Medcann Health Products Ltd., is a Health Canada licensed cultivator and processor with a licence to sell medical cannabis products in Canada. Pasha and BC Craft are also developing a craft cannabis campus, which is dedicated to bringing craft quality into the newly legal cannabis market in Canada. BC Craft is driven to assist craft growers in obtaining security clearance and licensing to grow as micro-cultivators, specializing in education and compliance to bring growers into the regulated cannabis supply market. Pasha's common shares trade on the CSE under the symbol "CRFT" and on the FSE under the symbol "ZZD". For more information, please visit www.pashabrands.com."

For our latest "Buzz on the Street" Show featuring Pasha Brands Ltd. recent corporate news, please head over to: https://www.youtube.com/watch?v=FlEwtMmB7fA

Tilray, Inc. TLRY is a global pioneer in the research, cultivation, production and distribution of cannabis and cannabinoids currently serving tens of thousands of patients and consumers in 13 countries spanning five continents. Tilray, Inc. recently announced that it had entered into a definitive agreement pursuant to which Tilray, through a wholly-owned subsidiary of High Park Holdings Ltd., will acquire all of the issued and outstanding securities of 420 Investments Ltd., an adult-use cannabis retail operator headquartered in Calgary, Alberta. FOUR20 provides adult-use cannabis consumers with a premium retail experience focused on high quality product selection, education and community. FOUR20 currently operates six licensed retail locations and has 16 additional high-traffic locations secured in desirable locations in Alberta, including Canmore, Calgary and Edmonton. Tilray and High Park will leverage FOUR20's retail expertise and brand and market knowledge to expand into other Canadian provincial markets where Licensed Producer retail ownership will be permitted in the future. "FOUR20 offers a premium retail experience for the mainstream cannabis consumer and builds on our broader retail strategy, which includes several minority investments in other leading cannabis retailers," says Tilray Chief Corporate Development Officer Andrew Pucher. "With FOUR20, we will elevate the retail experience for consumers by offering the best quality-tested products while preparing for the next wave of legalized product launches taking place by year's end."

Aurora Cannabis Inc. ACB ACB, headquartered in Edmonton, Alberta, Canada with funded capacity in excess of 625,000 kg per annum and sales and operations in 25 countries across five continents, is one of the world's largest and leading cannabis companies. Aurora Cannabis Inc. and CTT Pharmaceutical Holdings, Inc., recently announced the successful commercialization of CTT's cannabinoid-infused sublingual wafers. The new cannabis product line, a first of its kind, has been launched by Aurora in the Canadian medical cannabis market under the brand name "Dissolve Strips™". Aurora has an ownership interest in CTT of approximately 9%, with a warrant allowing it to increase its stake to 42.5%, and access to CTT's sublingual wafers drug delivery technology, which is patent protected or patent pending in multiple jurisdictions. "Aurora's Dissolve Strips™ provide unique advantages over other ingestible products due to their ease of administration, discrete nature and accurate dosage, that provides more rapid bioavailability of cannabinoids via sublingual use," said Terry Booth, Chief Executive Officer of Aurora. "This adds yet another innovative offering to our growing portfolio of high quality, medical products that we offer our patient base, and is testament to our industry leading ability to work with technology partners and regulators to bring new form factors to market rapidly."

Harvest Health & Recreation, Inc. HRVSF HARV, headquartered in Tempe, Arizona, is a multi-state cannabis operator (MSO) and vertically-integrated cannabis company. Harvest Health & Recreation, Inc. recently announced the opening of Harvest of Scranton, the third Harvest-affiliated Pennsylvania dispensary in Scranton. Since beginning operations in 2011, Harvest has become known for quality-driven retail experiences, top operational standards and unwavering commitment to serve the communities we enter. "We are thrilled to be expanding our presence in Pennsylvania," said Harvest Chief Executive Officer Steve White. "As our third Harvest-affiliated location in the state, the Scranton dispensary will bring our leading high-quality and trusted experiences to more Pennsylvanians."

Planet 13 Holdings Inc. PLNHF PLTH is a vertically integrated cannabis company based in Nevada, with award-winning cultivation, production and dispensary operations in Las Vegas. Planet 13 Holdings Inc. recently announced that it had launched a new beverage brand, Elysium, a refreshing THC-infused line of low-calorie flavored sparkling water. "Elysium marks our first step into the exciting THC beverage space. We've created and perfected a sparkling water beverage based on both customer demand and market trends. This low-calorie refreshing drink with zero added sugar was designed to be a fast-acting alternative without the guilt, the perfect micro-dosing beverage," said Bob Groesbeck Co-Chief Executive Officer of Planet 13. "Our expanded production facility will enable us to increase production of our top selling TRENDI line and begin production of Elysium and our highly anticipated edibles lines Dreamland Chocolates and HaHa Gummies. Customers will be able to watch these brands being manufactured behind glass. Increased sales of inhouse brands will drive margin expansion and ultimately shareholder value."

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

Followtalk 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. 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 pasha brands ltd. financial and corporate news dissemination, FinancialBuzz.com has been compensated five thousand dollars by the company. 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.

For further information:

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

Url: www.FinancialBuzz.com

SOURCE FinancialBuzz.com