FinancialBuzz.com’s latest Buzz on the Street Show: Featuring Our Corporate News Recap on “Canopy Growth subsidiary and Canopy Rivers portfolio company Vert Mirabel now fully licensed by Health Canada.”
Les Serres Vert Cannabis Inc., a subsidiary of Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) and a portfolio company of Canopy Rivers Inc. (TSX-V: RIV) (OTC: CNPOF) has received its final cultivation licence from Health Canada. All 700,000 sq. ft. of operating space at Vert Mirabel is now licensed for cannabis production. Vert Mirabel was established in December 2017 between Canopy Growth, Canopy Rivers, and Les Serres Stéphane Bertrand.
Canopy Rivers is a unique investment and operating platform structured to pursue investment opportunities in the emerging global cannabis sector. Canopy Rivers works collaboratively with Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) to identify strategic counterparties seeking financial and/or operating support. Canopy Rivers has developed an investment ecosystem of complementary cannabis operating companies that represent various segments of the value chain across the emerging cannabis sector. As the portfolio continues to develop, constituents will be provided with opportunities to work with Canopy Growth and collaborate among themselves, which Canopy Rivers believes will maximize value for its shareholders and foster an environment of innovation, synergy and value creation for the entire ecosystem.
With the rise of the cannabis industry, well-known and influential public figures have begun entering into the marketspace. In particular, many are either creating their own brands or investing in specific companies. For instance, Ontario-based cannabis giant, Canopy Growth, has partnered with several celebrities such as Seth Rogen and Evan Goldberg in efforts to promote and sell the Company’s branded flower, softgels, and pre-rolled marijuana formats. Additionally, Canopy Growth had also already partnered with Martha Stewart to advise the Company in developing new products such as hemp-derived CBD products. However, under Canada’s regulations, the “use of testimonials and endorsements in promotions and on any promotion that invokes a specific way of life” to sell cannabis are prohibited even though licensed cannabis companies are allowed to enter into business relationships with celebrities, according to Marijuana Business Daily. Additionally, Health Canada has mentioned that having a celebrity as a business advisor is not prohibited under the Cannabis Act. Furthermore, public figures such as Melissa Etheridge and Snoop Dogg have already released their own branded products. Melissa Etheridge, an American songwriter, created her own line of products after she turned to marijuana while she was diagnosed with breast cancer back in 2004. Etheridge publicly highlighted the medical benefits of cannabis and belief that it will completely reshape the way the medical and healthcare industry approach the plant. Extensive research conducted by medical institutions and scientists has since discovered that cannabis can be effectively used to treat a variety of medical conditions such as symptoms associated with cancer, chronic pain, Alzheimer’s, Parkison’s, and epilepsy. Moreover, positive clinical trial results ultimately led the U.S. Food and Drug Administration to approve the first cannabis-based treatment for epilepsy patients. Overall, the growing support and adoption by influential public figures, as well as continuing clinical trials, position the cannabis industry to become an explosive scene. As the industry continues to grow, it is expected that more investments will pour in from public figures as well as from other public or private sectors. According to data compiled by Grand View Research, the global legal marijuana market is projected to reach USD 146.4 Billion by 2025 while exhibiting a CAGR of 34.6%.
The widespread normalization of cannabis highlights the increasing amount of people who support the legalization of cannabis. However, despite its propagation, the cannabis industry still suffers dearly due to advertising regulations it is saddled with. For instance, social media companies such as Facebook and Instagram have limited and kept track of cannabis advertising because the plant is still federally illegal. Nevertheless, the industry is constantly gaining awareness and support from consumers. Legalization efforts first began in the U.S. back in the early 1990s, when California was the first state to legalize the medical use of cannabis. Now, unlike other countries, the U.S. has given its states the jurisdiction to dictate whether cannabis is legal or not. As a result, movements for legalization had begun to thrive throughout the nation. In the beginning, cannabis legislation was primarily being adopted solely for medicinal cannabis. However, in 2012, Colorado completely changed the country’s perspective on cannabis after the state legalized its recreational use. Since then, recreational cannabis is legal in 10 states, including Washington D.C., while medical cannabis is legal in 33 states. Overall, the timeline of cannabis legalization highlights the sheer number of people who have accepted and understood the benefits associated with cannabis, whether it is economically or medically. In the U.S., over 62% of Americans support the legalization of cannabis entirely, almost double the amount in 2000, according to Pew Research Center. “As we continue to see the legalization of Marijuana grow in each state, there is no doubt that entrepreneurs, investors and venture capitalists are eager to break into the cannabis industry and start new businesses,” said Niki Romo, Creative Director for KronicSites.
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