NEW YORK, Nov. 11, 2016 /CNW/ - http://www.Financialbuzz.com - Four of the five states approved the proposal for legalization of cannabis for recreational use after elections this week. In California, Massachusetts, Nevada and Maine voters decided that recreational marijuana is now legal, as Arizona was the only state that rejected the proposal. This is a highly positive development for the legal cannabis industry, many reports are projecting that this approval will bring billions of dollars to the industry and to the states themselves. Canadian Zeolite Corp. (CNZ.V), Supreme Pharmaceuticals Inc. (SL.CN), Canopy Growth Corp (CGC.TO), Aphria Inc. (APH.V), Maple Leaf Green World Inc. (MGW.V)
A total eight states, plus the District of Columbia, recognizes recreational cannabis use as a legal practice for adults, while Arkansas, Florida, Montana and North Dakota passed ballot measures legalizing medical marijuana. California is of course the most populated state and the largest market for cannabis. California Lt. Gov. and former San Francisco Mayor Gavin Newsom, said the proposition could generate up to $1 billion a year in tax revenue, as well as $100 million in saved taxpayer money on an annual basis. Now Canada's efforts to pass marijuana legalization reform could be boosted by the move of U.S. states.
Canadian Zeolite Corp. (TSX-V: CNZ) is a exploration, development and production of the industrial mineral zeolite. The company explains the value of Zeolite, which is a naturally occurring mineral found in volcanic ash, and is unique notable in its crystalline structure perforated by microscopic pores. These pores allow zeolites to act as natural filters. As a result, Zeolites (microporous) are used across several industries for a variety of purposes, including water purification and radioactive waste containment. This is an environmentally friendly Green Tech business which well suited to today's economic environment.
Recently Canadian Zeolite Corp. announced that it will begin shipping the natural zeolite mineral to several medical marijuana growers in Canada and the United States. Currently, the company is developing zeoponics and zeoponic substrates specifically designed for growing of medical marijuana. The mineral allows the plant to absorb the nutrients and improve the plant quality. The mineral also helps to produce higher amounts in shorter period of time.
CEO of Canadian Zeolite Corp, Ray Paquette, explained in a press release "with the explosive growth of the medical marijuana industry, Canadian Zeolite is well-positioned to become a leading supplier of natural zeolite to this expanding market as well as becoming an innovator of new products to compliment the growing process."
Canopy Growth Corp. (CGC.TO) is a diversified cannabis company. Canopy Growth is engaged in the business of producing and selling legal marijuana in the Canadian medical market. On November 1st the company announced a Memorandum of Understanding with the Goldman Group to expand Canopy Growth's cannabis production capacity and geographic footprint. According to the Memorandum the agreed upon growth strategy will see the Goldman Group acquire new properties across Canada for the design and build of new Canopy Growth production facilities.
Supreme Pharmaceuticals Inc. (SL.CN) is a development company focusing on medical marijuana industry, with an emphasis on production and sale of medical marijuana as regulated by Marihuana for Medical Purposes Regulations. The company claims to own some of the most innovative greenhouse facilities, which are the first of their kind to be hybridized and modular, meaning they provide the best practices of indoor cultivation with the cost savings and sustainability of a greenhouse. Currently the company is focusing on scaling up their operations.
Aphria Inc. (TSX-V: APH) is a Canada-based company, which is engaged in producing and selling medical marijuana through retail sales and wholesale channels. The Company's retail sales are primarily sold through the Company's online store, as well as telephone orders. Back in September the company announced that its Board of Directors approved a fully funded $24.5 million capital project as the first phase of its Part III expansion. The project will increase the company's capacity under the Access to Cannabis for Medical Purposes Regulations from 100,000 square feet to 300,000 square feet. This project is expected to increase the growing capabilities from 5,500 kgs annually to 18,000 kgs annually.
Maple Leaf Green World Inc. (TSX-V: MGW) is focused on eco-agriculture and renewable energy in the environmental industry. The Company is seeking opportunities to obtain a Marijuana for Medical Purposes Regulation (MMPR) License from Health Canada and medical marijuana business in the State of California, the United States. On November 8th the company announced that it has signed a Letter of Intent with BioNeva Innovations of Henderson LLC to purchase a cultivation permit for 33,500 sq ft indoor facility issued by the State of Nevada, and located in the city of Henderson, Nevada, located 16 miles from Las Vegas.
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