FinancialBuzz.com’s latest Buzz on the Street Show: Featuring Our Corporate News Recap on “Pasha Brands Signs Agreement with Great North Distributors for National Distribution.”
Pasha Brands Ltd. (CSE: CRFT) (OTC: CRFTF) (FSE: ZZD) , North America’s largest craft cannabis brand house, announced that it has signed an agreement with Great North Distributors, Inc. (“Great North“), Canada’s first national sales broker for legalized adult-use cannabis, to distribute Pasha’s craft cannabis products throughout Canada .
Based in Vancouver, British Columbia, Pasha Brands is a vertically integrated organization that is firmly rooted in BC’s craft cannabis industry, which boasts an international reputation. With proven capabilities in cannabis cultivation, genetic research and development, product, processing, and retail, Pasha is uniquely positioned in the new legal cannabis market through its network of hundreds of craft cannabis suppliers under the Pasha umbrella.
In recent years, the cannabis industry has witnessed immense support from countries across the world. Numerous national governments have their own unique perspective regarding the plant, however, most still have not moved to legalize cannabis because of the stigma surrounding its psychoactive nature. Nonetheless, cannabis has already tapped into several of the largest global markets. For instance, Canada became the first and only G-7 nation to legalize cannabis entirely in late 2018. Meanwhile, among the other G-7 nations, France, Germany, Italy, the United Kingdom and the U.S. have all adopted partial or full medical cannabis legislation. The only G-7 nation to not have adopted any form of cannabis legislation is currently Japan. Overall, many Asian countries enforce stricter regulations, which result in severe consequences if violated. As such, cannabis companies have not had much luck tapping into the Asian markets. However, South Korea and Thailand are two Asian nations that decided to take steps forward and dive into the cannabis industry. South Korea’s medical cannabis program launched in early March and paved the way for select THC and CBD-based medication imports. In particular, Canopy Growth Corporation is among the several Canadian multinational firms looking to enter the South Korean market. Similarly, Thailand has moved to legalize medical cannabis, with many expecting the legislation to be implemented next year after Thailand’smilitary-appointed National Legislative Assembly voted 166 to 0 in favor of legalizing medical cannabis. The profound movement stirring throughout Asia further highlights the impact that cannabis is making on a global scale. Moreover, ongoing international legalization efforts are expected to accelerate and further bolster the market in the near future. According to data compiled by MarketsandMarkets research, the cannabis market was valued at USD 10.3 Billion in 2018. By 2023, the market is expected to reach USD 39.4 Billion while registering a CAGR of 30.7% during the forecast period.
ArcView Market Research and BDS Analytics highlight that the entry of big tobacco and large beverage producers into the sector is attributable to the potential growth in consumer spending. Moreover, the firms also note that the passage of the U.S. Farm Bill is a key factor in the global market’s growth. Predominantly, the majority of the global cannabis revenue derives from the U.S. because of its early adoption. However, most of the large cannabis corporations are headquartered within Canada. At the end of 2018, the top five licensed producers in Canada reached a combined market capitalization of nearly USD 20 Billion. Notably, the five producers have all established international operations, supplying the various regions across the world with medicinal cannabis. Furthermore, as investments continue to pour in from other public or private sectors, licensed producers are expected to benefit greatly. Producers can use investment funds towards obtaining more licenses or expanding their facilities. In return, producers can obtain higher yields during each harvest. However, sometimes higher yields can interfere with the quality of the bud. As a result, more producers are using funds in order to tend to each individual plant to grow more potent and high quality strains as consumer demand continues to increase. In conclusion, Canadian consumers can expect cannabis supply to stabilize if licensed producers can overcome legal barriers. “If you look at the data from 2017, and you compare it to pace of production right now, you can see how licensed producers were stockpiling cannabis at a hectic rate,” Armstrong said. “Something’s definitely going on with getting supply to consumers, that’s one of the possibilities, but I’m pretty sure this will all eventually get resolved.”
For more information, please visit: Pasha Brands Ltd.
For more corporate news on Pasha Brands Ltd., check out the Buzz on the Street
About Buzz on the Street: One of FinancialBuzz.com’s latest corporate and financial news shows, covering the latest trending stock market news. Buzz on the Street looks to become a leader in corporate video news dissemination. Buzz on the Street is 100% original content, brought to you by Financial Buzz Media.