- Americans
spending a growing amount of capital on cannabis concentrates, with
forecasts for $2.9 billion in sales this year
- Cannabis
Strategic Ventures recently announced the introduction of high-quality
concentrate line PureOrganix in California dispensaries
- PureOrganix
presence expected to gain national, international footing amid advancing
tide of cannabis legalization
Cannabis industry incubator Cannabis Strategic Ventures,
Inc. (OTC: NUGS) is working its way toward a national stock exchange uplisting
and growing its presence within the industry through a series of timely
business building ventures, including the introduction of PureOrganix, a brand
marketed by subsidiary Pure Applied Sciences as a California dispensary shelf
item that expects to blossom in a ready national and international market for
legalized plant products.
PureOrganix is a high-quality concentrate line composed of
organic and pure cannabis oils that conform to the U.S. Food and Drug
Administration’s Current Good Manufacturing Practices protocols. Under a
non-exclusive cannabis concentrate extraction services agreement with a U.S.
subsidiary of Sunniva Inc. (CSE: SNN) (OTCQX: SNNVF), Pure Applied Sciences
gets white-labeled ultra-purified cannabis extracts that the company then
develops through marketing and licensing efforts for distribution to retail
stores.
“Having our brand available to consumers is a huge milestone
for PureOrganix,” Cannabis Strategic Ventures CEO Simon Yu stated in a news
release about the product line (http://ibn.fm/HnTh0). “We have spent months refining our
formulation, branding and designing our product to appeal to our target
demographic… Concentrates are already revolutionizing the way cannabis is being
consumed. The PureOrganix brand has already captured a strong following.”
The company cites a September 2018 market report by Arcview
Market Research and BDS Analytics (http://ibn.fm/s2Efs) that Americans will spend 49 percent
more on concentrates this year than they did last year, boosting concentrates’
portion of the overall cannabis market to 27 percent of sales. The report
further predicts that spending on concentrates will grow from $2.9 billion this
year to $8 billion by 2022, less than five years from now, following a rise of
the overall market to more than $24 billion by 2021 (http://ibn.fm/RXjvl).
“Understanding this growing market segment is quickly
becoming an essential part of the strategic landscape for cultivators,
extractors, distributors, brands, retailers, and investors operating in the
cannabis space,” the report states.
More than half of U.S. states have provided some form of
legal framework for using cannabis medicinally, and the FDA’s approval of a
cannabis-based drug as an anti-seizure prescription medication led the U.S. Drug
Enforcement Administration to reclassify the chemical extract cannabidiol (CBD)
as a nationally legal drug in FDA-approved medications last month (http://ibn.fm/M2VQQ). Canada
legalized all medicinal and recreational uses of cannabis nationwide this month
under locally governed frameworks (http://ibn.fm/BW1i6).
The growing legalization landscape for cannabis portends
fertile ground for cannabis-related businesses. Cannabis Strategic Ventures
operates out of Los Angeles as a publicly traded entity committed to acquiring,
incubating, developing and partnering with companies in the startup and growth
stages worldwide. Its commitment of capital and expertise to the cannabis
sector and ancillary industries is in turn a vehicle for building a continually
expanding portfolio of brands and hard assets to which investors in vertically
integrated enterprises can turn.
For more information, visit the company’s website at www.CannabisStrategic.com
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