FinancialBuzz.com’s latest Buzz on the Street Show: Featuring Our Corporate News Recap on “Weekend Unlimited CEO Update to Shareholders”
President & CEO of Weekend Unlimited Inc. (OTCQB: WKULF) (CSE: POT), Paul Chu has issued an important update to shareholders recapping the actions taken by the Company over the past months.
Weekend Unlimited is capitalizing on its vast industry relationships to establish a lifestyle brand featuring premium products and delivering life’s highest moments. The company aggregates and scales small to medium brands, primarily in the categories of flower, extracts, and edibles.
The development of the cannabis industry has led to the introduction of a variety of products into the marketplace in recent years. Products such as strains, oils, creams, and tinctures have become popular among consumers. Predominantly, consumers are using these products for medical applications to treat conditions like cancer, migraine, and arthritis. Now, as the industry continues to mature, new products are emerging, chief among them edibles and beverages. While these products may be more popular in the recreational sector, some consumers are leveraging them for their therapeutic effects as well. Such as it is, the current emergence of wide-ranging products is diversifying and helping grow the overall cannabis industry. According to data compiled by Imarc Group, the North American legal cannabis market was valued at approximately USD 8 Billion in 2017. By 2023, the market is expected to reach USD 35 Billion, while exhibiting a CAGR of 28% throughout the forecast period.
Cannabis is continually gaining prominence around the globe, but particularly in countries like the U.S. and Canada. Canada has already moved to legalize cannabis nationally, but the U.S. has given states the authority to legalize cannabis, or not, for themselves. So far, only 10 U.S. states and the District of Columbia have legalized recreational cannabis use. Meanwhile, the ongoing research and development within the industry is expected to increase the number of countries which contemplate legalizing cannabis for either medical or recreational use. The industry, however, still remains in its infancy stage, meaning there is still opportunity awaiting investors and businesses alike. “2018 was a landmark year for the cannabis industry. The two largest legal adult-use markets in world opened, in California and Canada, and record numbers of medical patients and consumers gained legal access to cannabis across the world. As a result, cannabis consumers/patients, new and old, have been exposed to a plethora of brands, delivery methods and other options for consuming cannabis. While the global cannabis industry is still in its infancy, a number of interesting trends in consumer preference have emerged, which may signal patterns that reshape cannabis consumption as we know it,” according to Ello, a U.S.-based cannabis advisory firm.
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