In the next five years, Europe is set to become the world’s largest legal cannabis market. With a population of more than double that of the United States and Canada combined, the market is ripe, and the industry has grown more in the last year than the last six combined, according to a new report. More than €500 million has been invested in the cannabis industry to date, and six countries have announced new legislation regarding the growth, sale, or consumption of cannabis.
The European market is on course to grow 400% over the next four years, according to the Brightfield Group. “CBD is just starting to take hold in Europe, with both product availability and consumer awareness still quite limited. This is a great opportunity for developed brands to enter and expand through Europe with far less competition than we’re seeing in the U.S.”
HEXO Corporation (NYSE:HEXO) (TSX:HEXO) has received a medical cannabis installation license. The license, issued by the Greek government, will allow HEXO MED to establish cultivation, processing and manufacturing facilities in the region of Thessaly, Greece. With HEXO Corp’s experience in the industry, HEXO MED is poised to become a leader in the European cannabis landscape. “This is a major step for HEXO as we continue to execute towards becoming a top three global cannabis company,” said Sebastien St-Louis, HEXO Corp CEO and co-founder. “Receiving licensing in Greece will allow us to bring know-how and brands powered by HEXO to the European market. The new facility will also drive value for current and future Fortune 500 partners by giving them access to licensed infrastructure internationally with the vision of capturing first-mover advantage in the burgeoning European cannabis market.”
American Premium Water Corporation (OTC: HIPH) recently entered into an agreement with Lynne Franks OBE, to produce women’s beauty and well-being product infused with CBD utilizing the Company’s proprietary formulation. The products to be produced included in the agreement are lubricants, facial revitalization sprays, healing lotions, and other products. The products will be sold under new brand that will be jointly developed between the Company and Ms. Franks. Testing will begin at the end of the month, with commercial sale targeted before the end of 2019.
APWC also announced the successful development of a CBD infused beer with the Company’s proprietary Hydro Nano formulation, in partnership with Hanlons Brewery (www.hanlonsbrewery.com). The beer will go to market derived from Hanlon’s Citra IPA flavor and will initially be sold in bottle form to wholesalers before a wider rollout to pubs and restaurants. Rollout is expected by the end of next quarter.
Today, the company announced that it is reaffirming its $1 million revenue guidance for fiscal year 2019. The projection is based on existing orders and future orders in the Company’s pipeline from its LALPINA CBD water, partnerships and co-branded product leveraging the Company’s proprietary Hydro-Nano technology, expanded distribution of Vanexxe, and other initiatives in the pipeline.
American Premium Water Corporation CEO, Ryan Fishoff, commented: “The Company is confident that it will achieve its $1million revenue guidance for the year. Our goal is to surpass this number and I believe we are on track to accomplish this. Despite the volatility in the market, nothing has changed; the Company remains committed to executing its business plan and achieving short and long term benchmarks. We have begun the two year audit with Weinberg & Co. and are working towards becoming fully reporting by the end of the year. There is a lot in the pipeline; management is working feverishly to get all these initiatives off the ground as investments that the Company has made in acquisitions, intellectual capital, and products are beginning to pay off. Aside from everything that’s been discussed in the public domain, there are other partnership and acquisition discussions that are currently underway. It’s a very exciting time for the Company; as progress is made, I look forward to updating shareholders on developments as soon as I’m able to.”
Aurora Cannabis Inc. (NYSE:ACB) announced plans for the highly-anticipated expansion of the consumer cannabis market into vapes, concentrates, and edibles. The Company is also preparing to launch a national public awareness campaign this fall, educating consumers, provinces and retailers about the safe usage and consumption of these new derivative products. Through a combination of new and enhanced facilities, Aurora intends to produce new, high-quality products across the country in a variety of product categories. Aurora recently entered into a supply agreement with PAX Labs Inc., a leading consumer technology brand in cannabis. With the PAX partnership, the Company will have the market leading PAX Era device to compete in the Closed Loop category and will also launch a new range of vape products, at various price points, targeted to all major consumer markets through both 510 thread cartridges and disposable single-use units.
Canopy Growth (NYSE: CGC) bought German medical cannabis firm C3, Spanish weed producer Cafina, and British skincare and wellness outfit This Works; Tilray cut the ribbon on its €20 million ($22 million) Portuguese research and cultivation campus; and Aurora took over Gaia Pharm (another Portuguese marijuana producer) while also winning a tender to produce and distribute the plant in Germany and commencing sales of cannabis oils in British and German pharmacies.