HOUSTON, TX / ACCESSWIRE / March 11, 2019 / For most of 2018, cannabis stocks exploded on news of Canadian legalization, U.S. states approving its medicinal or recreational use, and corporate America interest. We even saw the U.S. FDA approved the very first cannabis-derived drug, as well as the 2018 Farm Bill.
However, that's just the start.
According to analysts at Cowen, U.S. marijuana sales alone could reach $80 billion by 2030 - an increase of $5 billion from earlier estimates, and a 4% compound annual growth rate.
Globally, Piper Jaffray believes the market for legal marijuana could be worth $15 billion to $50 billion a year, with global sales growing to $250 billion to $500 billion. All thanks to growing acceptance and legalization in countries around the world.
Some of the top companies benefiting from the cannabis boom, include Blissco Cannabis Corp. (CSE: BLIS)(OTCQB: HSTRF), Canopy Growth Corporation (NYSE:CGC)(TO:WEED), and HEXO Corporation (NYSE:HEXO)(TO:HEXO).
Blissco Cannabis Corp. (BLIS) (HSTRF), a Canadian wellness cannabis brand based in British Columbia and a multi-licensed cultivator, processor, and distributor of premium cannabis, just as shipped its initial order to the British Columbia Liquor Distribution Branch (BCLDB).
The BCLDB's initial order includes a variety of whole flower products from Blissco's collections that include the strains AC/DC from the Blissco 'EASE Collection'; a CBD dominant, evenly balanced Sativa and Indica hybrid pre-roll, with a Beta-Pinene and Beta-Caryophyllene terpene profile; Green Cush, from the Blissco 'GO Collection'; a THC dominant, Sativa hybrid whole flower and pre-roll, with a well-balanced Pinene and Beta-Caryophyllene terpene profile; and Cold Creek Kush, from the Blissco 'CONNECT Collection'; a THC dominant, Indica hybrid whole flower and pre-roll, with a Beta-Pinene terpene profile.
"I have a long history of working with the BCLDB in my previous role as a Managing Partner of JAK's Wine, Beer and Spirits, a fourth-generation family operated company. I am excited to see that relationship continue as we provide the province with our premium cannabis products," said Damian Kettlewell, Blissco CEO. "We are building the foundation for what we anticipate to be a fruitful and long-term partnership. We will continue to innovate and refine our product offerings, while we enter new domestic markets in the coming months."
For More Information on Blissco Cannabis Corp., Click Here.
Canopy Growth Corporation (CGC) has also made headlines in the alcohol industry.
In fact, Constellation increased its stake in Canopy Growth by $4 billion. Constellation's investment in Canopy Growth, the biggest known deal in the marijuana industry, shows just how far traditional alcoholic beverage companies are willing to go to find growth.
"We believe the emerging cannabis space represents one of the most significant global growth opportunities of the next decade, and frankly, our life time," said CEO Bill Newlands. "An opportunity that is opening up much more rapidly than originally anticipated."
Constellation Brands notes that Canopy Growth is likely to reach $1 billion annual sales by 2020 and that its investment in CGC could be accretive to its earnings as early as fiscal 2021.
For More Information on Canopy Growth Corporation, Click Here.
HEXO Corporation (HEXO) is in a joint venture with heavyweight, Molson Coors to create non-alcoholic, cannabis-infused drinks, as well.
"Canada is breaking new ground in the cannabis sector and, as one of the country's leading beverage companies, Molson Coors Canada has a unique opportunity to participate in this exciting and rapidly expanding consumer segment," said Frederic Landtmeters, president and CEO of Molson Coors Canada.
For More Information on HEXO Corporation, Click Here.
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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.
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