NEW YORK, Nov. 14, 2016 /CNW/ - http://www.Financialbuzz.com - The elections last Tuesday were a major win for the legal cannabis industry in certain states. Medical use of cannabis has been making huge ground in recent years, but recreational cannabis use is now legal in California, Maine, Nevada, and Massachusetts. After Tuesday, 20 percent of Americans can legally use Cannabis. According to polls 60 percent of Americans support legalizing cannabis, up from 31 percent in 2000. The market for both recreational and medicinal cannabis is projected to grow to $22 billion by 2020 according to Arcview Group. Cannabix Technologies Inc. (BLO.CN), Maple Leaf, Green World Inc. (MGW.V), Mettrum Health Corp. (MT.V), Aphria Inc. (APH.V), Aurora Cannabis Inc. (ACB.CN).
The results this Tuesday may impact other states to seriously consider Cannabis reform. The recent victories last week has renewed debate within the states, and may even help lift the federal ban. The gap between states regarding cannabis legalization creates complications, both for the governments and the businesses involved. An example, considering this, the government is collecting new tax dollars from cannabis companies. However, because of the federal ban, these same companies often can't open bank accounts, thus complicating their operations.
The cannabis market is becoming diverse. Cannabix Technologies Inc. (CSE: BLO.CN) for example is a developer of the Cannabix Marijuana Breathalyzer for law enforcement and the workplace. After the market close Friday, the company announced it, "is pleased to release images of its Beta 2.0 Cannabix Marijuana Breathalyzer. New images of the device can be viewed at http://www.cannabixtechnologies.com.
Cannabix has been using a methodical iterative product development process to develop its marijuana breathalyzer. Using this method, the product is developed in several prototype stages with each stage used to advance the product to subsequent stages. Cannabix has systematically moved the development of the Cannabix Marijuana Breathalyzer from a concept stage to its Beta 2.0 prototype.
The Beta 2.0 prototype encompasses a robust detection system and components platform that will be used in an eventual finalized product for manufacturing. The Beta 2.0 prototype has provided excellent sensitivity in lab testing and will be utilized to conduct scientific studies with live marijuana users (smokers and edible consumers) to test the device for its accuracy and sensitivity using a controlled scientific testing protocol. The results of the scientific test will be used to prepare submissions for approval of the Cannabix Marijuana Breathalyzer as a court-approved device by the Minister of Justice in Canada and the National Highway Traffic Safety Administration (NHTSA) in the United States. In addition, law enforcement officials and regulators for the Minister of Justice and the NHTSA will be consulted regarding additional features, roadside protocol, ease of use, and to define a final housing design for a finished product.
Professor Richard Yost, Head of Analytical Chemistry at the University of Florida and Scientific Advisor on the FAIMS Cannabix Marijuana Breathalyzer states: "When Cannabix first approached our lab with the goal of building a device that could detect trace amounts of THC through exhaled breath, we were excited to face the challenge. We have been able to use our expertise and patent in FAIMS technology and build a device that achieves the required sensitivity and specificity but also will be a handheld portable device, similar to alcohol breathalyzers. We are extremely pleased and proud to be working on the design of a portable Cannabix Marijuana Breathalyzer that will be used by Law Enforcement to collect evidence of impaired driving and ensure safety on our roads as marijuana use becomes accepted in society and its use continues to grow."
Maple Leaf Green World Inc. (TSX-V: MGW.V) is focused on eco-agriculture and renewable energy in the environmental industry. The Company is looking for opportunities to attain a Marijuana for Medical Purposes Regulation License from Health Canada and medical marijuana business in California. Maple Leaf, along with its subsidiary, is engaged in exploring opportunities for its eco-agriculture nursery business, including medical marijuana in Canada and the United States, and its renewable energy business in China. The Company operates through the eco-agriculture segment. Golden State Green World LLC is the subsidiary of the Company.
Vertically integrated provider of cannabis products, Mettrum Health Corp. (TSX-V: MT.V) announced the renewals of its sales and production licenses at its two facilities located at Bowmanville. Mettrum's Company-wide overall licensed sales and production capacity stands at 5,600 kilograms per annum. "Our ample capacity to service the needs of our growing client base combined with the expansion of our Bowmanville South facility leaves us very well positioned for growth within this exciting accelerating medical cannabis market and prepared for the recreational cannabis market in the future," said Michael Haines, Chief Executive Officer of Mettrum.
Aphria Inc. (TSX-V: APH.V) produce and sells medical marijuana through retail sales and wholesale channels. It offers medical cannabis of various strains, including Kusawa, Tamaracouta, Panache, Churchill and Iroquois. 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 cannabis oil products will be offered in 60 milliliter bottles. 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.
Aurora Cannabis Inc. (CSE: ACB.CN) operating via its subsidiary, Aurora Cannabis Enterprises Inc., as a licensed producer of medical marijuana pursuant to the Marijuana for Medical Purposes Regulations. It operates nearly 55 thousand square foot expandable production facility in Alberta, Canada. Aurora Certified products have been considerately curated from other licensed producers to provide its clients with a unique small batch offering made up of a selection of rare genetics and classic favorites. As with all its dried flowers customers can trust that these products are lab-tested, gamma-irradiation free, and have received the Aurora seal of approval. All of Aurora's strains are currently offered at $8 per gram with $5 per gram.
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