CORAL GABLES, FL / ACCESSWIRE / January 29, 2019 / With the cannabis boom just getting underway, analysts at Piper Jaffray believe we could be looking at a market value of between $250 billion to $500 billion a year. ''We believe the long-term growth can be significant - both from transitioning illicit trade to legal sales, medical sales, and from transitioning sales in health [and] wellness categories to CBD-infused products,'' said the analysts, as quoted by MarketWatch.
Most notably, as millions of people living all over the world look to embrace the medicinal properties of cannabis, related companies are quickly gaining the attention of cannabis investors.
Some of those companies include Pure Global Cannabis Inc. (TSX.V: PURE) (OTC PINK: PRCNF), CannTrust Holdings Inc. (TSX: TRST) (OTC: CNTTF), and Canopy Growth Corporation (NYSE: CGC) (TSX: WEED).
Pure Global Cannabis' (PURE)(PRCNF) subsidiary, PureSinse Inc. has agreed to purchase all of the outstanding shares of SPRQ Health Group Corporation, otherwise known as SPARK, a Brampton-based cannabis clinic helping patients obtain safe access to medical cannabis with in-person nurse based consultation. PureSinse is also further expanding its patient reach through its partnership with HelloMD, offering convenient access to online telehealth medicine services, seven days a week.
''Through our acquisition of SPARK and our partnership with HelloMD, we are building a platform to enable personalized medical consultation, education and medical access to patients across Canada as part of our continued commitment to the health and wellness needs of medical cannabis patients.'' said Malay Panchal, CEO of Pure Global.
SPARK currently cares for over 2,500 active patients, with an average patient prescription of approximately 2 to 3 grams per day. With a leading-edge practice, SPARK offers personalized and innovative team-based care, leveraging clinical tools such as genetic testing in order to ensure that effective and safe cannabis strains with the appropriate dosage regimens are prescribed to patients. Physicians and pharmacists can refer patients to SPARK for consultations and specialized care involving medical cannabis at no cost.
For More Information on Pure Global Cannabis, Click Here.
CannTrust Holdings (CNTTF) (TRST) produces and distributes pharmaceutical grade medical cannabis products in Canada. It sells dried cannabis and oil extractions to the client based on the medication document provided by health care practitioner. It also serves up to 50,000 active patients at this time.
In addition, over the last few weeks, the company applied to list its shares on the NYSE.
"CannTrust has firmly established itself as one of the top licensed producers in Canada with a global platform rooted in trust, science and innovation," CannTrust CEO Peter Aceto said. "A listing on the NYSE is a natural step forward in our evolution as we look to broaden our investor base, increase the company's exposure and expand our business on an international scale."
For More Information on CannTrust Holdings Inc., Click Here.
Canopy Growth Corporation (CGC) (WEED) stock has been moving aggressively higher after Piper Jaffray analysts raised its price target by 50% and said the company is well-positioned in the growing markets for legal and medical marijuana.
In addition, the company also plans to invest between $100 million and $150 million in its New York operations ''capable of producing tons of hemp'' on an annual basis, notes CNBC.
According to analysts at Cowen, "We expect continued growth in newly established U.S. states, and more robust growth in Canada as more supply comes online and new form factors hit the market," analysts at Cowen noted. Among the likely beneficiaries, will be Tilray Inc. and Canopy Growth, which it believes will ''finally start to see the true benefits of adult use sales and the lapping of upfront investments made in calendar 2018 to scale up ahead of adult use.''
For More Information on Canopy Growth (NYSE: CGC), Click Here.
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