HOUSTON, TX / ACCESSWIRE / April 17, 2019 / The bullish momentum in cannabis stocks has continued in 2019.
Related stocks have already exploded on news of Canadian legalization, U.S. states approving its medicinal or recreational use, and corporate America interest. The U.S. FDA approved the very first cannabis-derived drug, as well as the 2018 Farm Bill, which legalized hemp and hemp-based CBD. Even major retailers are jumping on board.
Better, Cowen analysts say U.S. cannabis sales could reach $80 billion in the next 11 years. Analysts at Piper Jaffray say the market could be worth as much as $50 billion a year in the U.S.
In addition, according to The General Social Survey conducted by NORC at the University of Chicago, 61% of those surveyed support legalization. That's up from 57% in 2016. A Gallup survey found that 66% of Americans are in favor of legalization. That's up from just 60% in 2016. A Pew survey found that 62% of Americans want to see cannabis legalization in the country, as compared to just 57% in 2015.
As the story heats up, likely beneficiaries include Lifestyle Delivery Systems Inc. (CSE: LDS)(OTCQX: LDSYF), iAnthus Capital Holdings Inc. (CSE: IAN)(OTC: ITHUF), and Harvest Health & Recreation Inc. (CN: HARV)(OTC: HRVSF).
Lifestyle Delivery Systems Inc. (LDS)(LDSYF) just announced that its flagship product, CannaStrips has been delivered to four new retailers, including Purple Star, Elevated, Redstone Delivery, and Fire Farms through Rise Distribution.
"We know Rise Distribution can move a large amount of product and this is really the beginning. The Rise Distribution sales team has solid relationships with retailers and combined with the affordable price of CannaStrips. Cannastrips will make this roll out beneficial for both parties," says Casey Fenwick, President of Lifestyle Delivery Systems Inc.
The company has also self-distributed its produce to Highway 33 and The Jet Room.
For More Information on Lifestyle Delivery Systems Inc., Click Here.
iAnthus Capital Holdings Inc. (IAN)(ITHUF), which owns, operates, and partners with cannabis companies in the U.S. just entered into an agreement with Urban Outfitters to place CBD for Life products on its e-commerce platform and top six retail locations in the country.
"Our partnership with Urban Outfitters represents a major step forward for CBD For Life, placing us in one of the United States' most successful retail chains that also serves as a tastemaker for the rest of the retail market," said Julie Winter, COO of CBD For Life. "With the backing of iAnthus, we look forward to further growing our footprint and making our products top of mind for consumers around the world."
It also recently announced it completed a private placement offering of $35 million of unsecured convertible notes and corresponding warrants to three investors. The proceeds from the offering will be applied to continue the build-out of facilities across the company's exposure in 11 states.
For More Information on iAnthus Capital Holdings Inc., Click Here.
Harvest Health & Recreation Inc. (HARV)(HRVSF) is involved in the cultivation, processing and possession, use, sale and/or distribution of cannabis specific to the medical cannabis space. Its goal is to become one of the largest cannabis players in the world.
The company recently announced it would acquire privately-held Verano Holdings for $850 million in an all-stock deal. Expected to be completed this year, the duo would hold 123 retail store licenses and about 200 total licenses in 16 states.
For More Information on Harvest Health & Recreation Inc., Click Here.
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