FinancialBuzz.com News Commentary
According to a research report provided by Marijuana Business Daily, cannabis retail sales continue to grow year-over-year as new markets emerge and more states legalize medical and recreational cannabis. Sales in 2018 are expected to surge by approximately 50% compared to last year, meaning sales value is on track to reach USD 8 Billion – USD 10 Billion by the end of this year. The research also estimates that by 2022, annual retail cannabis sales in the United States could top USD 20 Billion, a 200% increase from 2017. As for the economic impact that the growing industry is set to have, the data predicts an estimated USD 28 Billion – USD 34 Billion of economic impact in 2018. High Hampton Hldgs Corp. (OTC: HHPHF), Golden Leaf Holdings Ltd. (OTC: GLDFF), Medical Marijuana, Inc. (OTC: MJNA), Freedom Leaf Inc. (OTC: FRLF), PotNetwork Holdings, Inc. (OTC: PINK)
As a result of the strong sales figures across the industry, investments in cannabis are piling up. A report by Business Insider indicates that ‘Venture-capital investors from around the world spent USD 355 Million on 100 marijuana-industry deals in 2017, and 2018 is on pace to break last year”s record. By the end of February, there were 19 venture-backed deals in the industry worth USD 176 Million alone, and that doesn”t factor in the money investors have poured into hedge funds set up to take advantage of the budding industry.’
High Hampton Hldgs Corp. (OTC: HHPHF) is also listed on the Canadian Securities Exchange under the Ticker (CSE: HC). Just earlier today the company announced that, ‘it has appointed key personnel to the board of directors and management team to help assist the Company in its aggressive growth cycle. C Suite executive Robert Allen has accepted his appointment to High Hampton”s board of directors, and private and public sector veteran Thomas Sykes joins the Company as Senior Human Resources Manager.
David E. Argudo, CEO of High Hampton, commented: ‘We continue to complement our management and board with professionals who can best accommodate High Hampton in the various stages of growth and as we evolve to become a prominent player in the California cannabis market. I am happy to welcome both Robert and Tom to our team and look forward to benefit from their wealth of knowledge and experience in their respective fields. On behalf of the entire team, I would like to express my sincere thanks and appreciation to our interim board member Fiona Fitzmaurice who will continue to serve High Hampton in the capacity of CFO.’
Robert Allen commented on his appointment as follows: ‘This is an exciting time both for the Company and the industry. In High Hampton I feel that we have the skills, knowledge and resources to execute and capitalize on this opportunity. I look forward to working with the team, helping them to provide returns to shareholders.’
Tom Sykes added: ‘I am excited about the future of High Hampton, and I am looking forward to overseeing the HR compliance and best practices of High Hampton and its acquisitions.’
About Robert Allen – Robert Allen, CA, is an investor, entrepreneur, C Suite Executive with 20 plus years of experience building, leading, and advising both public and private corporations through complex restructurings, acquisitions/divestitures, and capital market transactions. He currently is engaged as a ‘turn around’ agent where he provides strategic advisory services to Boards and Management which include the establishment of Boards and their associated Governance and policies, strategic refreshes including restructuring, and instilling accountability for results. He has also been a principal investor and participated in the startup of three Companies of which he helped take two public. Earlier in his career Robert acted as both CFO and CEO to large public corporations (Ainsworth Lumber 2003-2009, TimberWest 2009-2012), both with revenues in excess of $1 billion. In these capacities, Robert led all facets of the businesses including, operations, marketing and transportation, business development, finance and accounting, human resources, and IT. He led the sale of TimberWest ($1.06 billion) and transitioned Ainsworth Lumber from a family-owned ($2 billion) Company. Mr. Allen”s experience also includes Skeena Cellulose, a private organization with forestry holdings that included a pulp mill, three sawmills and associated timber holdings. Beginning in 1994 as a business analyst, he exited Skeena in 2001 as the CEO. Mr. Allen holds a Bachelor of Science in Agriculture and a Master”s degree in Accounting from the University of British Columbia.’
Golden Leaf Holdings Ltd. (OTCQB: GLDFF) a leading cannabis oil solutions company and dispensary operator built around recognized brands, recently announced that it has opened its sixth Chalice Farms dispensary in Happy Valley, Oregon. The Happy Valley facility is the seventh dispensary under Golden Leaf”s umbrella. The new location is situated on the corner of two large state highways (OR-212/OR-224) and is surrounded by other thriving cities and communities. Beyond the growing number of Chalice Farm”s dispensaries, GLH has had a marked impact on the state of Oregon and its local Portland communities. ‘We are excited to introduce our brands to additional communities in and around suburban Portland and we see Happy Valley as a natural fit for Chalice Farms, as it is one of the fastest growing cities with one of the highest median family incomes in Oregon. The community has welcomed us with open arms and we are excited to do business there,’ said William Simpson, CEO, Golden Leaf Holdings.
Medical Marijuana, Inc. (OTC: MJNA) is the first publicly held company vested in the cannabis and industrial hemp space in America. announced the historic authorization of its Real Scientific Hemp Oil-X™ (RSHO-X™) cannabidiol hemp oil product for import into Argentina. Argentina”s National Administration of Medicines, Food and Medical Technology (ANMAT) has approved the product for import. In Argentina, CBD products are sold for compassionate use and must be prescribed by a licensed physician. A patient is allowed to import as much as a six-month”s supply and import is currently only allowed for the indication of refractory epilepsy. Medical Marijuana, Inc. CEO Dr. Stuart Titus, said, ‘In recent years, our company has been a leader in providing several Latin American countries with access to CBD and we”re happy to add this very important country to our roster.’
Freedom Leaf Inc. (OTCQB: FRLF), a group of diversified, international, vertically-integrated hemp business and cannabis media companies, consummated its previously-announced acquisition of the Irie CBD Product Line, including virtually all: assets, trademarks, formulating equipment, formulas and products. Irie boasts a large inventory of more than 25 different products and recorded approximately USD 1.5 Million of revenue in 2017and net profits in excess of USD 200,000. Irie also leases a full manufacturing and processing facility in Oakland, California. The acquisition also includes the product lines, websites and other assets of: Earth Born, Inc., a California corporation; Earth Born, Inc., a Delaware corporation; Irie Living, a California nonprofit mutual benefit corporation, and Genesis Media Works, LLC. Clifford Perry, CEO and Co-Founder of Freedom Leaf, commented: ‘The acquisition of the Irie CBD product lines adds another level of integration to our already vertically-integrated business model – increasing our revenues and margins.’
PotNetwork Holdings, Inc. (OTC: PINK) acts as a holding company for its subsidiaries, First Capital Venture Co., the owner of Diamond CBD, Inc., the maker of Diamond CBD oils. The Company recently announced that its subsidiary, Diamond CBD, Inc. continues its record-breaking trend with online sales results jumping 639% higher than the year before. According to the report, over half a million dollars in overall sales revenues were generated exclusively online for the first 27 days of May. Compared with the corresponding period in 2017, May 2018”s online revenues represent a year over year increase surpassing 1000% representing a critical driver of the overall May results.
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NEW YORK, June 18, 2018 /PRNewswire/ —