Canadian #CannabisStocks and the Passage of Bill
C-45; Aphria (TSX: $APH.TO, USOTC: $APHQF), EVITRADE (CSE: $EVA.C), (OTCQB: $AXHLF), Canopy Growth (TSX: $WEED.TO),
(NYSE: $CGC),
CannTrust (TSX:
$TRST.TO)
“Canadians are
expected to spend as much as $7.17 billion on cannabis products in 2019”-
Deloitte
Point Roberts, WA, Delta BC – July 5, 2018 –
Investorideas.com, a global news source and investor resource covering cannabis
stocks issues a sector news alert on Canadian cannabis stocks following the Senate’s
recent passing of Bill C-45 to federally legalize cannabis.
Receiving royal assent, the bill is now officially
law and sales are expected to begin mid-October. Industry analysts are now
releasing new data and trying to predict what this new era of legalized
cannabis will add to the economy.
In a recent Deloitte report, A society in transition, an industry ready to bloom, “Canadians are
expected to spend as much as $7.17 billion on cannabis products in 2019 and
increase their overall consumption by up to 35 per cent once recreational
cannabis is legalized later this year, according to a new report by Deloitte.
Legal recreational cannabis sales could generate up to $4.34 billion in sales,
accounting for more than half of total cannabis sales, but the illegal market
could still be worth more than $1 billion a year.”
“Uruguay and Canada are leading the way on
adult-use legalization, and Germany broke barriers in 2017 on medical-use
availability. This means worldwide spending on legal cannabis should hit $32
billion by 2022,” said Tom Adams, Editor-in-Chief at Arcview Market Research
and Managing Director of BDS Analytics’ Industry Intelligence Division.
As industry and investors gear up for a brave new
world of cannabis in Canada, several companies weighed in on the historic event
and followed up with news demonstrating the momentum the sector is witnessing.
EVITRADE Health Systems Corp. (CSE:EVA) (OTCQB:AXHLF) issued commentary on June 20, 2018 saying,“The Senate overwhelmingly voted in
favour of the revised bill from the House of Commons which should create a
fully federally legal cannabis program for Canada within eight to twelve weeks.
This vote will provide a framework from which companies like ours can utilize
advanced scientific research and developments to operate successfully within
the cannabis market in Canada.”
Two days later EVITRADE Health Systems Corp. issued
follow- up news reporting they had signed a Letter of Intent to collaborate
with West Coast Medical Solutions Ltd. (WCMS). “WCMS together with their
partner Ecovita Packaging Ltd. intend to undertake a project to apply to become
a Licensed Dealer (LD) as issued by Health Canada for Class A precursors. The
Company will focus on uses regarding medical cannabis, THC and cannabidiol
(CBD). Ecovita maintains a relationship with Medtrica Canada which is privately
owned by one of the shareholders of WCMS. Medtrica holds a FDA and Health
Canada MDEL (Medical Device Establishment License) and is an ISO13485 medical
products manufacturer in British Columbia, Canada. Medtrica is also currently
building a brand new 40,000 sq. ft. state of the art manufacturing, processing,
and packaging facility with an estimated completion date in October 2018.”
“This latest agreement provides the manufacturing
capabilities and access to a fully accredited ISO13485 medical device
manufacturing facility; which will greatly strengthen our overall biotech
capabilities and provide a level of integration that will make us more
competitive and efficient." to become a certified Licensed Dealer, we will
be able to further our plans to develop and distribute medical grade products
that can potentially solve a series of ailments that plague the human
condition," said CK Cheung, CEO of Evitrade."
A well-known name on the playing field also issued
a statement following the passage of Bill C-45.
Vic Neufeld, CEO of Aphria (TSX: APH and USOTC: APHQF) said, "Today's passage of Bill C-45 through
the Senate is a historic milestone towards safe and legal recreational cannabis
in Canada. We applaud the government's drive to establish a rational regulatory
framework for adult-use cannabis that is designed to protect public health and
safety, restrict access to youth, and eliminate the black market. It is a
significant day that further cements Canada as the preeminent leader in the
global cannabis sector."
On June 29th Aphria announced that it
has signed a Supply Agreement with the Manitoba Liquor and Lotteries
Corporation to provide a portfolio of high-quality, branded cannabis and
cannabis derivative products for sale in Manitoba's adult-use market.
“Under the terms of the Agreement, the Company will
supply up to 2.7 million grams of cannabis and cannabis derivative products in
the first year of the agreement, including both Ontario and BC dried flower,
pre-rolls and cannabis oils. The wide range of products will be available for
sale at licensed retailers across the province. It is anticipated that
additional products currently being developed by Aphria, such as vapes and
edibles, will also be made available in Manitoba when authorized for sale under
the Cannabis Act.”
Recognized leader and first NYSE listed cannabis
stock, Canopy Growth Corporation (TSX: WEED) (NYSE:CGC) said,”We welcome the recently announced Cannabis
Regulations in support of the Cannabis Act, one of the final steps in the
progression towards a national system for the regulated production, sale and
consumption of quality-controlled cannabis in Canada.”
“The regulations, upon an initial review, present
an exhaustive and sophisticated system for production and marketing, and are
in-line with the Company's expectations. They represent the culmination of
years of experience gained through the medical cannabis system, and will serve
Canadian patients, adult-use consumers, producers and stakeholders well as the
country approaches the end of cannabis prohibition.”
Canopy announced on June 29th they also
had completed an agreement with the Manitoba Liquor and Lotteries Corporation
to supply the province with high quality cannabis products.
“Under the terms of the agreement, Canopy Growth
will supply the Manitoba market with up to 6,500 kilograms of cannabis products
over the next twelve months to meet demand from the adult use recreational cannabis
market set to open on October 17, 2018.”
Commenting on the royal ascent, CannTrust Holdings
Inc. (TSX: TRST) released news saying, “CannTrust is applauding
the granting of Royal Assent to Bill C-45, the Cannabis Act. With Royal Assent
received, the legislation legalizing cannabis for adult consumer use has now
passed its final official step, and retail sales are to commence on October 17,
2018, as announced by Canada's federal government.“
"While the federal government has recently
announced the commencement date for adult consumer use, CannTrust has been
working towards this date for a very long time. We are well positioned for this
rapid growth with our new product offerings, infrastructure, research and
development and staffing. At the same time we continue to lead the medical
industry through our customer support, innovative portfolio and most of all,
our trusted standardized products. Initial adult consumer use order discussions
with the Provinces have exceeded our preliminary estimates reflecting the
market's confidence in our abilities and the understanding of our consistent
quality. This truly is an exciting and momentous time for both our Company and
our nation", says Brad Rogers, President of CannTrust.
CannTrust is initially launching three recreational
brands of Cannabis in Canada – liiv, SYNR.G and Xscape. This trio of brands
will address the needs of three distinct target audiences: the knowledgeable
enthusiast, the social consumer and the experience seeker. Each of the brands
will include a set of carefully curated strains and the products will be
available in a variety of formats including dried flower, pre-rolls, oils and
capsules.
Sources –
Arcview
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