NEW YORK, Nov. 16, 2016 /CNW/ - http://www.Financialbuzz.com - The share of Americans and Canadians that approve of legalizing the use of marijuana continues to grow. According to Mackie Research Capital Corp., the peak Canadian marijuana market size could to be over $2.5-billion in 2020, assuming full legalization down the road or sometime in 2017. Cameo Resources Corp. (CRU.V), Organigram Holdings Inc. (OGI.V), Mettrum Health Corporation (MT.V), Aphria Inc. (APH.V), Golden Leaf Holdings Ltd (GLH.CN)
In the United States 57% of adults say the use of cannabis should be made legal, while 37% say it should be illegal According to pewresearch.org. The shift in public opinion is expected to be the reason the legal cannabis market is forecasted to grow at a 30% annual growth rate by 2020. This is according to a research report which was jointly released by New Frontier and ArcView.
Cameo Resources Corp. (TSX-V: CRU.V) is engaged in the business of exploring mineral properties. Recently the company announced the board of directors and management team have been exploring multiple acquisition opportunities in the medical marijuana and CBD (cannabidiol) oil industry.
Cameo Resources Corp. just announced this morning that, "the company has signed a Letter of Intent with iWeedz.com of Henderson, Nevada." iWeedz.com is a technology platform that connects consumers with cannabis vendors and promotes local marijuana commerce. The Company will operate its technology platform through its website located at http://www.iWeedz.com and through its mobile application for Apple iPhone operating system (iOS) and Android operating systems. Consumers wishing to use iWeedz must create an account with iWeedz. Once an account is created, the member will be able to use iWeedz to locate local cannabis dispensaries to shop for cannabis products and to communicate with the dispensaries. As the member uses the iWeedz Website and application, the iWeedz technology will gather specific information about the member by tracking accessed content, liked items, purchased items and the member's profile. iWeedz will then use this information to match the member with the right cannabis vendor or to find deals that may be of interest to the member.
The signed letter of intent is for exchange of information with iWeedz.com. There is no definitive agreement signed and no compensation terms are stated in the letter. The letter is to ensure that confidentiality is maintained as Cameo continues to discuss future business opportunities with iWeedz.com.
"Recreational marijuana is now legal in California - and that's a game changer for public health. Though 25 other states have already legalized weed for medicinal purposes and four for recreational purposes, the size and population of California puts its decision in a different league and it could lead the way to figuring out policy around the drug. Current projections have Maine, Nevada, and Massachusetts voting to legalize recreational marijuana, while Arizona voted against legalizing recreational pot. Akash Patel, president of Cameo, remarks that: "Signing of this LOI does not shift the company's focus on its ongoing commitment to mineral exploration. However, we expect to complete our due diligence within the next 45 days and update our shareholders along the way."
Organigram Holdings Inc. (TSX-V: OGI) is a licensed producer of medical marijuana and regulated by Health Canada. Exponential growth in sales has led to the generation of positive adjusted EBITDA after only 7 operating quarters. The company focuses on Organic growing, the science of managing micro life enriched soil. The benefits of growing organic are many, including the lack of synthetic nutrients, pesticides, herbicides or additives, biodegradable source that has no negative impact on the environment, as well as important building blocks for odors, hormones, vitamins, pigments, resins, essential oils and cannabinoids.
With decades of combined expertise in the agri-pharma, distribution and technology industries, Mettrum Health Corporation (TSX-V: MT.V) has made educating and resourcing physicians and their patients in Canada a top priority. Mettrum is a licensed producer of medical cannabis. The company provides whole bud, non-irradiated medical marijuana, and actively upholds top practices for cultivation, harvest, cure, trim and packaging. The company offers guaranteed product availability, so that once a user is registered as a Mettrum client, they can look forward to an ongoing, stable supply of medical cannabis.
Aphria Inc. (TSX-V: APH.V) produce and sells medical marijuana through retail sales and wholesale channels. The company's factor of cannabis oil to dried cannabis is 6 to 1 and will be offered in 60 milliliter bottles. This means that every 6 milliliters of cannabis oil is equivalent to a gram of dried cannabis. The Company is engaged in the research and development, and commercial production of cannabis oil. Its cannabis oil products will include Champlain, Rideau and Capilano. Its subsidiaries include Pure Natures Wellness Inc., which also produce and sell medical marijuana, and Cannway Pharmaceuticals Ltd., which focusses in providing support services to veterans and first responders.
Golden Leaf Holdings Ltd. (CSE: GLH.CN) is a cannabis oil and solution provider in North America. The Company produces and distributes various types of products, such as cannabis flower and cannabis oils. In addition, Golden Leaf Holdings owns a dispensary through its subsidiary, Left Coast Connections. The company's recent financial report shows that revenues for the six months ended June 30, 2016 were significant increased, by 19%, over the comparable period of in 2015.
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