HOUSTON, TX / ACCESSWIRE / April 25, 2019 / The cannabis boom is one of the most explosive.
More U.S. states have approved its use. Corporate America is just beginning to invest in it. Congress is pushing forward with new legislation. President Trump signed the Farm Bill into law. Cannabis M&A is picking up momentum. Even the global community has been quick to embrace medicinal cannabis.
We've even seen sales estimates soar. Arcview Research and BDS Analytics forecast 38% global growth in 2019 to $16.9 billion, for example.
As the story just begins to unfold, some of the top beneficiaries include Lifestyle Delivery Systems Inc. (CSE:LDS)(OTCQX:LDSYF),Cresco Labs Inc. (CSE:CL)(OTC:CRLBF), and Crop Infrastructure Corp. (CSE:CROP)(OTC:CRXPF).
Lifestyle Delivery Systems Inc. (LDS)(LDSYF) just announced the City of Adelanto reduced its cannabis tax down to 1% just last night. In fact, they voted to reduce the tax on Transportation, Distribution, Manufacturing, and Testing Lab cannabis businesses from 5% down to 1%. The city also reduced the cultivation tax from $5 per month per square foot to 5$ per year per square foot. They reduced dispensaries tax from 5% down to 3%. This comes in line with California voting to reduce the cannabis cultivation tax statewide. The reduction in city taxes will be a huge positive for cannabis businesses operating in Adelanto.
"We can appreciate the cities aggressive tax initiative and believe their decision to lower the taxes will be a benefit to both the city and local cannabis business. This will help invite more businesses into the community as well as rejuvenate the existing cannabis businesses in the area," says LDS CEO, Brad Eckenweiler.
For More Information on Lifestyle Delivery Systems Inc., Click Here.
Cresco Labs Inc. (CL)(CRLBF) is also betting big on the California cannabis market with a C$1.1 billion acquisition of Origin House. The deal will create a premiere distribution company that will serve the largest cannabis market in the world, California.
"[The deal] establishes Cresco Labs as the leading multi-state operator with one of the largest distribution platforms in California, which is projected to be a $7.7 billion cannabis market in 2022 by Arcview Market Research/BDS Analytics," said Cresco Chief Executive and Co-founder Charlie Bachtel, as quoted by MarketWatch. "Following the closing of this acquisition, Cresco brands will be in over 725 dispensaries across the country, giving us the largest and most strategic distribution footprint of any cannabis company in the United States."
For More Information on Cresco Labs Inc., Click Here.
Crop Infrastructure Corp.'s (CROP)(CRXPF) Humboldt Holdings tenant Hempire just acquired a 25% interest in a licensed distribution company with onsite non-volatile commercial cannabis manufacturing in California, with a right to acquire the license interest should federal law change in favor of cannabis-THC.
The manufacturer will carry the cost of processing cannabis flower, cannabis trim and biomass, getting 40% of the resulting oil sales and CROP and its tenant 60%. The facility is capable of not only processing Hempire's material but will also be utilized to bring in third party material for processing to develop further SKUS to be sold under the CROP brand portfolio.
The facility will also act as the company's packaging and distribution for all California operations outside of its previously announced distribution agreement giving the company brands exposure to hundreds of potential dispensaries and streamlining its manufacturing and sales process.
"This further vertically integrates CROP's tenant Hempire in preparation for continued sales in the California market, this will streamline the manufacturing, packaging and distribution of the brands reducing touch points and thus profitability and logistics of production for the California farms," says CROP CEO, Michael Yorke.
For More Information on Crop Infrastructure Corp., Click Here.
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