(MENAFN – Baystreet.ca) In October 2019, Canada is expected to legalize CBD again.A year after Canada legalized dried cannabis flower, oils, and sprays, the country is expected to legalize edibles, beverages, and topicals on October 17, 2019, creating sizable opportunity for growth.Interesting to note, according to analysts at Deloitte, up to 60% of Canadians would use cannabis edible products.
In addition, according to the Brightfield Group, the legal US CBD market is expected to grow from $618 million in 2018 to $23.7 million CBD market by 2023.That’s opening a wide range of opportunity for companies including The Yield Growth Corp. (CSE:BOSS) (OTC:BOSQF), Aurora Cannabis Inc. (NYSE:ACB)(TO:ACB), Canopy Growth Corporation (TO:WEED) (NYSE:CGC), Green Growth Brands Inc. (CSE:GGB)(OTC:GGBXF), and Tilray Inc. (NASDAQ:TLRY).
The Yield Growth Corp. (CSE:BOSS)(OTCQB:BOSQF) BREAKING NEWS: The Yield Growth Corp. just announced it licensed its patent pending proprietary technology for extracting key chemical compounds from hemp to its wholly owned subsidiary Yield Botanicals to establish a CBD extraction business in the U.S.The licensed patent pending technology shows early promise of significantly increasing the yield of valuable chemical compounds per kilogram of hemp root input during the extraction process, as tested by an independent lab.Yield Botanicals intends to use the same technology as part of the CBD extraction process to increase the yield of CBD from hemp. It also intends to conduct research and development using the technology to create a water-soluble CBD for beverages and to create a CBD nano-emulsion to enhance transdermal bioavailability of topical products. Yield Botanicals also intends to conduct further research regarding a non-toxic plant-based surfactant it has identified to enable creation of clean CBD products.
Other cannabis-related developments from around the markets include:
Aurora Cannabis Inc. (NYSE:ACB)(TO:ACB) just announced the completion of the previously announced plan of arrangement with Hempco Food and Fiber Inc. pursuant to which Aurora has acquired all of the issued and outstanding common shares of Hempco not already owned by Aurora, reflecting a valuation of approximately C$63.4 million on a fully diluted basis. Hempco is now a wholly-owned subsidiary of Aurora. The Hempco Shares will be delisted from the TSX Venture Exchange, and Aurora will apply to the relevant securities commissions for Hempco to cease to be a reporting issuer under Canadian securities laws. Hempco provides Aurora with access to low-cost, high-volume raw hemp material for the extraction of primarily cannabidiol and other cannabinoids, which is gaining recognition for potential health benefits across a wide range of applications. Aurora identified the potential of hemp-derived CBD early on, completing its first investment in Hempco in 2017, and has subsequently expanded its hemp-based infrastructure through targeted acquisitions and strategic partnerships, creating Aurora Hemp: an integrated operating unit executing the Company’s Global Hemp Strategy. With expertise across genetics, extraction, product development, brands and distribution, Aurora Hemp is an end-to-end offering across the entire hemp value chain.
Canopy Growth Corporation (TO:WEED)(NYSE:CGC) just announced that it has received a license from Health Canada for its KeyLeaf Life Sciences facility in Saskatoon, Saskatchewan. Including the Smiths Falls site and the recently licensed BC Tweed extraction site, Canopy Growth now operates three significant extraction assets to support the throughput required for large scale value-add product development. Canopy Growth recently retrofitted the now fully licensed KeyLeaf facility in Saskatchewan, a company with over 50 years of experience in the extraction industry. This facility is expected to be online in the Fall of 2019 and has the capacity to extract up to 5,000 kilograms of hemp or cannabis biomass per day. The application for the license was submitted under KeyLeaf’s previous name, POS Management Corp. and will be updated in due course. The newly licensed extraction platform is located in close proximity to Canopy Growth’s large-scale outdoor hemp and cannabis grow operations. The Company looks forward to the additional capacity increasing production efficiency, augmenting output volume, and ultimately reducing operational costs for value-add products set to be rolled out in the Canadian recreational and medical markets at the end of calendar year 2019. “With this milestone, we are executing against the vision of making strategic investments today in order to deliver results over the long term,” said Mark Zekulin, CEO, Canopy Growth. “This license will ensure we have the supply of extraction inputs for the medical, CBD, and recreational markets, especially the next generation of value-add, high margin cannabis products here in Canada.”
Green Growth Brands Inc. (CSE:GGB)(OTC:GGBXF) just announced that it will open 100th Seventh Sense Botanical Therapy mall-based shop. The first Seventh Sense shop opened in early February.”This is a huge milestone for Green Growth Brands and Seventh Sense,” said Peter Horvath, CEO of Green Growth Brands. “We believe we have created the largest and most valuable network of brick and mortar CBD shops in the country.” Seventh Sense shops retail high-quality botanical therapy CBD-infused personal care and beauty products at affordable prices. The product offering includes over 100 SKUs across bath, body, face, therapeutic, and sleep categories.
Tilray Inc. (NASDAQ:TLRY) just announced it has 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, Calgaryand 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.”
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