Legal Cannabis Sales Projected to Rise Across North America

(MENAFNEditorial) NEW YORK, December 26, 2017 /PRNewswire/ --

A recent report by Arcview Market Research indicates that consumer spending on legal cannabis inNorth Americais outpacing previous estimates. The report projects that retail cannabis sales will grow 33% from 2016, to about$10 billionthis year. The data published projects that by 2021 the legal cannabis market will reach a value of$24.5 billion and at a 28% compound annual growth rate (CAGR).The report also highlights the progress in statistics of several states. For example, according to BDS Analytics,California'smedical market is already as big as the total markets inColorado,Washington, andOregoncombined. Pivot Pharmaceuticals Inc.(OTC: PVOTF), Canopy Growth Corporation (OTC: TWMJF), Innovative Industrial Properties, Inc. (NYSE: IIPR), Vitality Biopharma, Inc. (OTC: VBIO), 22nd Century Group Inc. (NYSE: )

Tom Adams, Editor-in-Chief at Arcview Market Research and Principal Analyst at BDS Analytics explained, "Our data shows positive indicators across the board for the legal cannabis industry, inNorth Americaand around the globe... The passage of the 2016 ballot initiatives and continued maturation of the existing Adult-Use markets are the primary drivers of the growth this year. That's nothing compared to what we can expect in 2018 and beyond fromNevada'stourism, andCaliforniaandCanadaplanning to launch Adult-Use sales in 2018."

Pivot Pharmaceuticals Inc.(OTCQB: PVOTF) recently listed on the Canadian Stock Exchange under the Ticker 'PVOT'. Last week the company announced breaking news that, "its wholly-owned medical cannabis products division, Pivot Green Stream Health Solutions Inc. ("PGS" or "Pivot Green Stream"), are pleased to announce that Pivot has signed a binding letter of intent to establish aCalifornia-based entity ("PGS-California") in order to accelerate the monetization of the Ready To Infuse Cannabis ("RTIC") technology as previously announced onDecember 20, 2017. Pivot plans to build manufacturing facilities in legal cannabis markets throughoutNorth AmericaandEurope, obtain the necessary licensures, and launch products using RTIC technology which transforms cannabis oil into powder for infusion. The letter of intent is subject to customary conditions including regulatory approval, the negotiation of a definitive agreement and satisfactory completion of due diligence.

Pivot seeks to gain market share in the food and beverage segment of the cannabis industry in legal markets in the near term through in-house brand development and by providing co-packing services for other edible brands through strategic partnerships. Co-packing services are an underserved, high-demand segment of the cannabis industry on the B2B side and will help further the awareness and visibility of the "Made with Instant THC" & "Made with Instant CBD" brands.

Pivot will appointRoss FranklinandPatrick Rolfesto executive leadership roles within PGS-California to help execute its business strategy of conducting research, development and commercialization of cannabinoid-based products. Mr. Rolfes states that "Pat and I look forward to working with Pivot to monetize the RTIC patents. Our facilities will be able to produce a variety of food and beverage products such as capsules, K-Cups, stick packs, baked mixes, liquid shots, protein shakes, topicals, lotions, and bottle beverages."

Dr.Patrick Frankham, CEO of Pivot Pharmaceuticals stated that "Pivot continues to execute on its business strategy to upscale cannabis oils into premium healthcare and nutritional products. TheCaliforniacannabis market is estimated to be worth$7Bannually making it an attractive territory for Pivot's pipeline of products and technologies. We are also delighted to announce thatRoss Franklinwill join our Scientific Advisory Board. His extensive cannabis product development and commercial expertise will be a great asset to Pivot as we enter the US market."

Following the passing of Adult Use of Marijuana Act (Prop. 64), cannabis will be legal inCaliforniabeginningJanuary 1, 2018.California'smain regulatory agencies are the Bureau of Cannabis Control (BCC), Department of Food and Agriculture, Department of Public Health and Cannabis Regulatory Authority (CRA). PGS-California will apply for all necessary licenses with the appropriate agencies.

Canopy Growth Corporation (OTC: TWMJF) is a world-leading diversified cannabis and hemp company, offering distinct brands and curated cannabis varieties in dried, oil and Softgel capsule forms. Recently, the company and Canopy Rivers Corporation announced a definitive joint venture agreement to form a new company, Les Serres Vert Cannabis Inc., together with Les Serres Stéphane Bertrand Inc., a largescale tomato greenhouse operator in Mirabel, Quebec. Bertrand currently produces tomatoes and other vegetables under 700,000 sq. ft. of modern greenhouse, most of which was built in 2015. The entire greenhouse will be upgraded and retrofitted for cannabis production by April 2018. With the assistance and guidance of Canopy Growth, the application for this site has been submitted; and subject to Health Canada and other standard regulatory approvals, the Company anticipates being ready to begin production by May 2018.

Innovative Industrial Properties, Inc. (NYSE: ) is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated medical-use cannabis facilities. Recently, the company announced that it closed on the previously announced acquisition of the property located at 5900 West Greenhouse Drive in Willcox, Arizona, which comprises approximately 358,000 square feet of greenhouse and industrial space. The Pharm is one of the largest wholesalers of medical-use cannabis in the state of Arizona. Concurrent with the closing of the purchase, the Company entered into a long-term, triple-net lease agreement with a subsidiary of The Pharm, which intends to continue to operate the property as a medical-use cannabis cultivation and processing facility in accordance with Arizona medical-use cannabis regulations.

Vitality Biopharma, Inc. (OTCQB: VBIO) is dedicated to unlocking the power of cannabinoids for the treatment of serious neurological and inflammatory disorders. On October 19, 2017, the company announced additional positive preclinical efficacy results for the treatment of colitis. Vitality Biopharma has developed a new class of cannabinoid prodrugs, known as cannabosides, which upon ingestion can be targeted and limited to the gastrointestinal tract, thereby avoiding drug psychoactivity and unforeseen side effects. The Company has now successfully completed studies that demonstrate the efficacy of multiple different cannaboside drug formulations for treating preclinical models of colitis. Multiple different cannaboside drug formulations were able to reduce weight loss, decrease damage to the colon, and markedly improve gastrointestinal health compared to the placebo controls.

22nd Century Group Inc. (NYSE: ) is a plant biotechnology company focused on genetic engineering and plant breeding which allows the increase or decrease of the level of nicotine in tobacco plants and the level of cannabinoids in hemp/cannabis plants. In September 2014, 22nd Century's wholly-owned subsidiary, Botanical Genetics, LLC, entered into a worldwide license agreement with Anandia Laboratories Inc. Under the terms of the agreement, the company was granted an exclusive sublicense in the United States and a co-exclusive sublicense in the remainder of the world, excluding Canada, to patents and patent applications relating to the cannabis plant that are required for the production of cannabinoids, the major active ingredients in the cannabis plant. The Anandia sublicense continues through the life of the last to expire patent, which is expected to be 2035.

Subscribe Now! Watch us report from NYSE

Follow us on Twitter for real time Financial News Updates:

Follow and talk to us on Instagram:

Facebook Like Us to receive live feeds:

About, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, creates 100% unique original content. also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on (the 'Site') is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content),, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. receives fees for producing and presenting high quality and sophisticated content on along with other financial news PR media services. does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For this release, expects to be compensated five thousand dollars for financial news dissemination and PR services by pivot pharmaceuticals inc. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. will always disclose any compensation in securities or cash payments for financial news dissemination and PR advertising. does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security., members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use. Please visit: .

For further information:

Media Contact: , +1-877-601-1879




Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.