The Canadian cannabis market has been the most notable and widespread out of the cannabis industry for some time now, but the recent addition of recreational cannabis into the industry means that we may just now start to see the massive amount of growth take shape.
Companies in the industry have been posting revenues in the billions which is quite different from where the industry was just 5 years ago, but that isn’t stopping growth in any way. New companies have begun to come into the market to help fuel the ancillary industry of cannabis along with the financial services side of the market, and both continue to be extremely lucrative.
One of the companies that many people have been watching for some time now is the luxury cannabis retailer, MedMen (CSE:MMEN) MedMen as one report states “operates in its home state of California, exclusively in SoCal, and is one of ten licensed producers in New York, with operations in Nevada and a pending acquisition in Florida. CEO Adam Bierman and the company were prominently featured on CNBC’s The Profit last year. The company last raised capital at C$5.25 but has spent most of its brief trading history below that price. Sales in Q1 were over $7 million.” MedMen has been working to create ties to the Canadian market to help them fuel their massive enterprise and is continuing to look for growth in the near future.
Another company that is looking to secure ties in the cannabis market is the company 4Front. 4Front is not listed yet on any major exchange, but they have been looking for some time now to go public on the OTC listing. The company recently raised almost $14 million in capital which means that they too have their eyes set on massive growth for the future. 4Front is a leading consulting firm which has begun working in the cannabis industry to help develop companies potential.
Next on the list is the company Stanley Brothers Holdings. The company became famous several years ago after selling CBD products known as Charlotte’s Web, named after a child who was one of the pioneers of using CBD to treat seizures. The company recently just posted a preliminary prospectus which shows sales of over $40 million in 2017 alone. The company has already posted a Q1 earnings amount of around $13.1 million for this year, but they have stated that they expect sales to reach over $120 million by the end of the 2018 fiscal year.
Last on the list is the company known as Tilray Holdings. Tilray is majority owned by the parent of the news provider Leafly, Privateer Holdings. The company is a leading Canadian licensed producer of the cannabis plant and has been looking to go public on the NASDAQ for a few months now. With millions in revenue and a 55% growth during the first quarter of the year from its last year levels of C$7.8 million, Tilray looks to continue being a positive place to invest potentially for the coming future.
The cannabis market as a whole is still in the very early stages of growth which means that there is a long way to go before these companies can begin to reach their full potential. Over the course of the next few years, a combination of new legislation and the changing public sentiment, should all contribute to the massive growth of the industry. Only time will tell how these companies continue to grow during the growth period of the coming future.
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