The cannabis story is growing like a weed.
So far, a large focus has been on developments in the U.S. and in Canada. For example, Canada just legalized cannabis throughout the country. Corporate America is quickly waking up to the opportunity, transforming multi-billion-dollar industries. U.S. states are approving the use of cannabis for recreational or medicinal use.
At the same time, the cannabis story is proving to be just as exciting in Europe.
In fact, according to Canaccord Genuity analysts, CBD can now be found in numerous consumer goods, pharmacies and health stores. The analysts note the CBD product market alone in Europe is valued at 750 million euros ($857 million) to 1 billion euros. That’s a considerable jump in valuation from 200 million euros, mid-2018.
It comes as no surprise that cannabis companies are quickly taking center stage, given sizable growth, including ICC International Cannabis Corp. (CSE:WRLD-U) (OTC:WLDCF), Canopy Growth Corporation (TSE:WEED) (NYSE:CGC), and Aurora Cannabis Inc. (NYSE:ACB).
ICC International Cannabis Corp. (WRLD-U)(WLDCF) for example is no stranger to strong growth, holding 155 metric tonnes of extraction-ready hemp stockpiles.
“International Cannabis is equipped with an unparalleled ability to supply the overwhelming demand for cannabis and cannabis extracts in Europe,” notes Eugene Beukman, CEO and Director of International Cannabis, stated: Our extraction-ready hemp stockpiles, deep-seated understanding of regional business practices, coupled with a vast Pan-European distribution footprint safeguards our ability to maximize opportunities in Europe’s emerging CBD market.”
In addition, the company recently entered into a letter of intent to acquire 49.9% of Wayland Group Corporation’s international assets and license portfolio, which includes 820,000-square-foot facility clean cultivation facility located in Dresden, Germany; German cannabis import license; indoor medical cannabis cultivation license application; annual production of over 2,400 kilograms of CBD isolate; 165 hectares of CBD cultivation operations; and a three-year agreement to supply medical cannabis to 2,200 pharmacies.
The 820,000-square-foot German facility has a replacement cost of 110 million euros.
Of the many applicants for German medical THC cultivation licences, only two have a completed facility, and of those that do, the largest is 14,000 square feet or 1.7% the size of the Ebersbach facility.
For More Information on ICC International Cannabis Corp., Click Here.
Canopy Growth Corporation (CGC)(WEED) is quickly expanding its business, as well.
Most recently, the company announced it would make a significant investment of $100 million and $150 million to create a large-scale hemp production facility in New York over the next 100 days. It’s currently looking at sites in the Southern Tier of the state, notes Bloomberg.
In its most recent earnings report, while the company did post a loss of C$0.38, as compared to expectations for a loss of C$0.16, investors are already drooling over the company’s net sales of C$83 million ($625 million) – a 283% jump year over year from C$21.7 million. Analysts had only anticipated C$81.1 million, almost $2 lower than expected.
Their numbers are likely to grow with further legalization and demand.
Plus, the company quadrupled its sales volume, which soared to 10,100 kg. year over year from 2,330. "Our successful first full quarter with recreational sales in Canada reinforces our long-held strategy of making meaningful investments early in order to secure market share,” according to co-CEO Bruce Linton.
For More Information on Canopy Growth Corp., Click Here.
Aurora Cannabis Inc. (ACB) is racing to new highs after announcing it made substantial progress on boosting its annual capacity. Production increased 57% quarter over quarter to 7,822 kilograms thanks to expansion projects at its Aurora Sky greenhouse.
In its most recent quarter, the company posted C$54.2 million in revenue, an 83% increase quarter over quarter. However, it also posted a loss of $237.75 million thanks to investments in other cannabis companies. The bulk of its revenue came from the 15,430 pounds of cannabis it sold, as compared to the 17,465 pounds of cannabis produced. Europe accounted for about 6% of Aurora’s net revenue in the quarter and Canada 92%.
For More Information on Aurora Cannabis Inc., Click Here.
MarijuanaStox.com is a leading web destination for all cannabis related companies. Investors can also find current marijuana-related quality financial, medical, legal and social news.
MarijuanaStox.com is a media agency in North America dedicated to the cannabis industry, helping companies that operate in the space to attract quality investors, working capital and real publicity. Since 2005, we have had public companies in the US and Canada have rely on us to grow and succeed.
Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media which has a partnership with www.MarijuanaStox.com is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release.
For making specific investment decisions, readers should seek their own advice. Winning Media, which has a partnership with www.MarijuanaStox.com, is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement between Winning Media (partners of MarijuanaStox.com) and ICC International Cannabis Corp., Winning Media has been paid four thousand dollars for advertising and marketing services for ICC International Cannabis Corp. We own ZERO shares of ICC International Cannabis Corp. Please click here for full disclaimer.