The Top Global Growth Story Creating a $146.4 Billion Cannabis Opportunity

PALM BEACH, Florida, Nov. 12, 2019 /PRNewswire/ -- The global cannabis market is still in the early innings of a multi-year boom.  Thanks in large part to growing acceptance of cannabis – including Canada's legalization in October 2018, further U.S. state approval, and the 2018 Farm Bill, the global market is expected to reach $146.4 billion by 2025, according to Grand View Research Inc. from $7.06 billion in 2016. In addition, the growing adoption of cannabis in medical applications such as cancer, mental disorders, and chronic pain is expected to propel revenue growth even more. That's leading to a wide range of opportunity for companies including Rubicon Organics Inc. ROMJ ROMJF, Cronos Group Inc. CRON, Aurora Cannabis Inc. ACB ACB, Planet 13 Holdings Inc. PLTH PLNHF, and Origin House OH ORHOF.

Rubicon Organics Inc. ROMJ ROMJF BREAKING NEWS: Rubicon Organics Inc. just announced that it successfully completed its first commercial-scale harvest of certified organic, high-quality cannabis at the Company's flagship 125,000-square-foot hybrid greenhouse facility in Delta, B.C. The initial harvest passed all microbiology and contaminant testing to be fully compliant with Health Canada standards and has enabled the company to submit its sales license amendment with Health Canada -- marking a significant milestone in the company's execution strategy as it moves towards brand launch in Canada. "The success of our first commercial-scale harvest is proof of concept that Rubicon Organics' proprietary cultivation methods – developed over years of research and development – can grow fully compliant, exceptional quality, certified organic cannabis at scale in Canada," stated Jesse McConnell, CEO of Rubicon Organics. "We are very proud of our dedicated cultivation team which has fully delivered against the design expectations and target yields of our hybrid facility in Delta. We are now moving down the path towards securing our sales license to bring high-quality, certified organic products directly to the market in the coming months."

Rubicon Organics' initial commercial-scale crop was plantmatued in mid-June and harvested from the end of September to mid-October, yielding high-quality flower in line with facility design capacity specifications. The crop has passed analytical testing to ensure safety and compliance with Health Canada standards, which places stringent limits on the presence of heavy metals, pesticides, microorganisms, mold and other contaminants. The crop has now been dried, bulk packaged and will be entering the final packaging stage in preparation for brand launch. 

Other cannabis-related developments from around the markets include:

Cronos Group Inc. CRON noted the separately announced closing of the AUD$20 million initial public offering of Cronos Australia Limited. Under the offering, Cronos Australia issued 40 million new shares at an offering price of AUD$0.50 per share. Cronos Australia expects to start trading on the Australian Securities Exchange on a deferred settlement basis on November 7, 2019.

Aurora Cannabis Inc. ACB ACB announced the voting results from its Annual General Meeting of Shareholders, held in Edmonton, Alberta, on November 8, 2019. The total number of shares represented by shareholders present in person and by proxy at the meeting was approximately 437.9 million, representing 42.6% of Aurora's issued and outstanding Common Shares. All of the matters put forward before shareholders for consideration and approval as set out in the Company's Management Information Circular dated September 17, 2019, were approved by the requisite majority of votes cast at the Meeting. The shareholders also approved the: (i) appointment of KPMG LLP as auditors of the Company for the ensuing year; and (ii) non-binding advisory resolution on the Company's approach to executive compensation.

Planet 13 Holdings Inc. PLTH PLNHF announced that it served an average of 1,923 customers per day in October at an average ticket of $94.48 from the Planet 13 Las Vegas Cannabis Entertainment Complex.  Planet 13 has provided monthly traffic updates for the first year of operations. Going forward, Planet 13 will provide traffic updates as part of its quarterly Management Discussion and Analysis. "The SuperStore opened a year ago, and in that time has grown to be a key part of the Las Vegas Strip experience. We've consistently averaged 9% of the state's total cannabis sales out of one location," said Larry Scheffler, Co-CEO of Planet 13. "We opened our Phase II expansion last week and are excited about delivering another year of growth and strong results for our shareholders."

Origin House OHORHOF announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, has expired with respect to the proposed acquisition of Origin House by Cresco Labs. The expiration of the waiting period under the HSR Act satisfies one of the remaining conditions to completing the Transaction. With the waiting period passed, the parties are now working towards closing the Transaction on terms that will be mutually agreeable to both parties. "We look forward to working through the remaining steps required to close the Transaction" said Charlie Bachtell, CEO and Co-founder of Cresco Labs. Marc Lustig, Chairman and CEO of Origin House, added "the expiration of the HSR Act waiting period is a significant milestone for this transaction and for the entire cannabis industry."

DISCLAIMER: FN Media Group LLC (FNM), which owns and operates Financialnewsmedia.com and MarketNewsUpdates.com, is a third- party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM expects to be compensated thirty five hundred dollars for news coverage of current press releases issued by Rubicon Organics Inc., by a non-affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

Contact Information:
Media Contact
email: editor@financialnewsmedia.com 
+1(561)325-8757

SOURCE FinancialNewsMedia.com