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CHICAGO & LANSING, Mich.--(BUSINESS WIRE)--Cresco Labs Inc. (“Cresco Labs” or the “Company”) (CSE: CL) (OTCQX: CRLBF), one of the largest vertically integrated multistate cannabis operators in the United States, today announced that it has completed the most comprehensive portion of Michigan’s application process, being pre-qualified for a cultivation and processing license by the Department of Licensing and Regulatory Affairs Medical Marihuana Licensing Board. The pre-qualification represents the authorization of the entity to move forward with the licensing process for its intended facilities.
“We continue to execute well on our expansion strategy and leverage our professional, proven approach to win access to new markets,” said Cresco Labs CEO and Co-founder Charlie Bachtell. “Entering Michigan will add another large market opportunity to our growing footprint and increase our total addressable consumer base to more than 150 million people. Michigan is one of the largest medical cannabis markets in the country with an estimated patient population of nearly 300,000 patients and is steadily moving towards implementation of an adult-use program. Pre-qualification is the most significant regulatory hurdle in the Michigan licensing process. We expect to replicate the process that has enabled us to quickly and efficiently get operational in other markets and begin making our full suite of brands available to patients wanting to experience the positive medicinal benefits of cannabis.”
Cresco Labs has applied for a cultivation and processing facility to be located in a former 100,000+ square foot factory in Marshall, Michigan. The Company has been granted conditional local approval to build and operate the facility pending final approval of its state facility license application.
Michigan is the 10th largest state in the country with a population of nearly 10 million people and more nearly 300,000 registered patients in the state’s medical cannabis program. According to Arcview Market Research/BDS Analytics, the total cannabis market in Michigan – including both medical spending and future legalized adult-use spending – is projected to increase to nearly $1.4 billion by 2022 from $869 million in 2018.
VANCOUVER, March 25, 2019 /CNW/ - BLOCKStrain Technology Corp. (TSX:V: DNAX.V) (OTC: BKKSF) ("BLOCKStrain" or the "Company"), creator of the first blockchain-secured, fully-integrated IP tracking platform for the cannabis industry, announced its third quarter results for the three and nine months ended January 31, 2019. Prior to completion of its reverse takeover transaction on May 17, 2018, BLOCKStrain had only been incorporated since November 22, 2017 and therefore has comparative figures only for the three months ended January 31, 2019.
"We achieved a number of value driving milestones during and subsequent to the quarter's end that not only show the momentum our software suite is gaining in the market, but that we expect will also drive future growth," said Robert Galarza, Chief Executive Officer of BLOCKStrain. "We believe we will continue to gain even greater traction as companies of all shapes and sizes, from Licensed Producers to craft growers and makers of CBD and THC infused products, recognize the inherent value in being able to provide consumers with levelled assurance that their products are as labelled. In an industry rife with both quality control issues and competition for market share, the ability to ensure this level of integrity can create brand goodwill and also greatly reduce the opportunity for brand damage, which we believe will continue to drive market adoption of BLOCKStrain technology.
Financial and Operational Highlights:
DENVER, March 25, 2019 /CNW/ -- Surging hemp market growth has created huge demand for hydroponic supplies.
Hydroponic supplier Sugarmade Inc. (OTC:SGMD) (SGMD Profile) has been making swift moves to deal with this demand, acquiring other supply companies and outlets. Canadian company Tilray Inc. (NASDAQ:TLRY) has acquired the world's largest hemp foods company, giving it a strong position in a customer-facing part of the sector. Canopy Growth Corporation (NYSE:CGC) (TSX:WEED) has set up a new hemp-growing facility in New York state, using hydroponics to help it meet growing demand. Cronos Group Inc. (NASDAQ:CRON) (TSX:CRON) has received a large boost in investment thanks to interest in the surrounding sector, providing fuel for future growth. Aphria (NYSE:APHA) (TSX:APHA) is looking beyond North America, with the acquisition of a European distributor.
To view an infographic of this editorial, click here.
A Better Way to Grow Hemp
With the passing of the Farm Bill in December, the production of hemp for CBD, which was already on the rise, looks set to soar in the United States and beyond. Demand for CBD for health and wellness products keeps rising as more research focuses on its potential for relaxation, pain management and other benefits for living a healthy life. Farmers are grabbing the opportunity to invest in a new cash crop, one which has provided remarkable returns for some.
Ample Organics Inc. Introduces a Complete Seed-to-Sale Compliance Integration with Shopify to Serve the Canadian Legal Cannabis Market
TORONTO, March 25, 2019 /CNW/ - Ample Organics Inc., the leading cannabis seed-to-sale software platform used by the majority of Canada's licensed producers, is pleased to announce a complete seed-to-sale integration with Shopify, the leading commerce platform in the cannabis space.
This partnership with Shopify combines best-in-class compliance with best-in-class eCommerce, opening a new world of possibilities for licensed producers across Canada.
"Our clients have collectively shipped nearly two million medical cannabis orders to patients across Canada. The majority of these orders were made online. Our partnership with Shopify will further enhance and improve eCommerce for medical cannabis patients, delivering enhanced value to our licensed producer clients, and making medical cannabis even more accessible for those who need it most," said John X. Prentice, President and CEO of Ample Organics.
"Ensuring our customers can not only legally sell their products, but also track and manage those products from seed-to-sale is critical for the safe development of the medical and recreational cannabis industry," said Loren Padelford, VP and GM at Shopify. "That's why we're excited to partner with Ample Organics to offer their seed-to-sale tracking capabilities, integrated directly into Shopify for licensed sellers on our platform. Together, Shopify and Ample Organics will power the expansion of this exciting industry in Canada and beyond."
About Ample Organics: Founded in 2014, Ample Organics is adopted by more Canadian licensed producers than any other cannabis software solution. A complete ecosystem for cannabis businesses, the technology platform makes compliance easy by tracking individual plants from seed to consumer and reporting every detail of the growth, production, and sales processes. Our team of cannabis industry and technology experts designed the platform to facilitate compliance and transparency while enhancing overall business efficiency and organizational intelligence. The company has grown exponentially and continues to be the most trusted solution for cannabis producers, manufacturers, distributors, physicians, clinics, laboratories, retailers, and educators.
TORONTO, March 25, 2019 /CNW/ - The Green Organic Dutchman Holdings Ltd. (the "Company" or "TGOD") (TSX: TGOD) (US: TGODF) is pleased to announce that effective today sales of certified-organic cannabis have started with national distribution to medical patients. The Growers' Circle is a select group of patients across Canada now receiving TGOD's first certified-organic flower. The Growers' Circle launch is a limited production rollout of the Company's premium product, allowing TGOD to perfect its distribution ahead of its production ramp-up and scaled rollout this year.
"The launch of the Growers' Circle is another significant moment in TGOD's commercial story," said Brian Athaide, Director and Chief Executive Officer. "Our certified-organic cannabis is a premium experience for patients. We are proud of our product and excited to be sharing it with Growers' Circle members."
TGOD cannabis is grown in living soil without synthetic fertilizers, pesticides or herbicides. TGOD cannabis is certified-organic by ECOCERT and Pro-cert, pre-eminent global certification bodies. Hill & Knowlton consumer research confirmed that 60% of medical cannabis patients prefer certified-organic product. TGOD flower is packaged in recyclable glass jars and speaks to the Company's product quality, sustainability and regenerative philosophy.
TGOD is now shipping its Unite Organic strain to over 200 medical patients across Canada. "It's been a rewarding experience to get to this point, talking with consumers and understanding their needs, through to growing and cultivating organic product," said Csaba Reider, President of TGOD. "Growing organic requires patience, and we know that our cannabis was worth the wait."
TGOD Growers' Circle members will receive a state-of-the-art online and app experience that provides timely information on individual medical needs. "We have spent months talking with consumers about their preferred cannabis experience," said Andrew Pollock, Vice President of Marketing for TGOD. "We believe that through our website, the experience – from signup to follow-up, to ongoing care - will be the finest in the industry."
Up Cannabis Adds New Brunswick as Eighth Province for Distribution
TORONTO, March 25, 2019 /CNW/ - Newstrike Brands Ltd. (TSX-V:HIP) ("Newstrike" or the "Company"), is pleased to announce that Up Cannabis Inc. ("Up Cannabis"), its wholly-owned subsidiary, has entered into an agreement with Cannabis NB as a licensed producer to supply cannabis.
"We are very excited to announce this partnership with Cannabis NB," said Jay Wilgar, CEO of both Newstrike and Up Cannabis. "Being among the select group of licensed producers that will supply cannabis to the New Brunswick marketplace is a privilege, and we look forward to helping Cannabis NB achieve its goals of providing safe, reliable product to adult-use consumers."
With this announcement, Up Cannabis becomes one of only eight Licensed Producers that currently supplies Cannabis NB.
New Brunswick also marks the eighth Canadian province with which Up Cannabis has announced distribution. The company has also announced an arrangement with the Manitoba Liquor and Lotteries Corporation as well as the Prince Edward Island Cannabis Management Corporation. The Company has also formalized agreements with the Nova Scotia Liquor Corporation, the Ontario Cannabis Store and the Alberta Gaming, Liquor & Cannabis Commission. The Company has a signed Memorandum of Understanding with the British Columbia Liquor Distribution as well as having been approved as a supplier to the Saskatchewan Liquor & Gaming Authority.
Liberty Health Sciences Receives Approval to Dispense Flower Products; Pending Approval for Pre-Rolls
TORONTO, March 25, 2019 /CNW/ - Liberty Health Sciences Inc. (CSE: LHS) (OTCQX: LHSIF) www.libertyhealthsciences.com ("Liberty" or the "Company"), a provider of high quality cannabis, announced today that it has received Florida Department of Health (DOH) approval to sell whole flower smokable products to patients in Florida, making it one of the first companies in the state to provide smokable medical marijuana in all of its dispensaries. The Company is awaiting DOH approval to provide pre-rolls to patients.
Patients who receive medical marijuana from their doctor will now be able to smoke the substance legally under a bill (SB 182) signed into law last week by Governor Ron DeSantis revoking a ban on smoking medical marijuana. More than 70 percent of voters approved a ballot measure in 2016 legalizing marijuana for medical use, but the Florida Legislature passed a bill a year later that banned it in smokable forms. The new law provides patients the ability to access medicine in the form their doctor determines best for them, whether it's smoking medical marijuana or utilizing other delivery systems.
"This is truly a historic moment not only for Liberty Health Sciences but for the State of Florida," said Victor E. Mancebo, interim Chief Executive Officer of Liberty. "Receiving DOH approval – the same week that Governor DeSantis signed SB 182 allowing patients registered under the Department of Health to smoke medical marijuana – is monumental for Liberty and its ability to offer patients an additional medicinal option. Patients in Florida have been eager for this bill to pass as there is a fundamental need for this medicine in all of its forms."
The new law aligns with Liberty's long-term strategy as the Company continues to expand across the state. "We are excited to provide flower-derived products to our patients as we continue to educate the Florida community on the benefits of medicinal cannabis and how the DOH has provided safety measures to properly dispense medicinal cannabis related products," said Mancebo.
According to a survey from MJ Freeway and New Frontier Data, flowers are still the most popular way to consume cannabis with minimal processing. States that allow flower in their medical marijuana program see an increase in patients, and as flower is made available, the patient count in Florida is expected to grow more quickly. By the year 2020, Statista, a leading provider of market and consumer data, reports that medical marijuana sales in the U.S. is expected to reach between 4.9 and 6.1 billion dollars.
HAMILTON, ON, March 25, 2019 /CNW/ - McMaster University Continuing Education opened enrolment today for its new Science of Cannabis program – one of the first post-secondary programs in the country focused on the scientific study of cannabis and its therapeutic applications, risks and harms.
In partnership with the Peter Boris Centre for Addictions Research and the Michael G. DeGroote Centre for Medicinal Cannabis Research, the program offers an evidence-based approach to understanding the science behind the substance. As a 3-course academic certificate of completion, the program can be taken entirely online through McMaster Continuing Education and will be available to interested persons working in the health, education, public service, and social and community services sectors across the country.
Dr. James MacKillop, holder of the Peter Boris Chair in Addictions Research, Director of the Peter Boris Centre for Addictions Research, and Director of the Michael G. DeGroote Centre for Medicinal Cannabis Research, is responsible for overseeing the development of all course content and looks forward to sharing current research with participants.
"This program really takes advantage of a lot of faculty expertise," said MacKillop. "Students are going to have first-hand exposure to all different avenues of cannabis research that are being pursued within our centres."
To combat abundant misinformation about the substance, the Science of Cannabis program addresses the need for high-quality education in the field and provides students with the knowledge to separate fact from fiction.