CannabisNewsWire
Editorial Coverage: The cannabis industry presents a rare
opportunity to profit from spectacular growth in a virtually
untapped market.
- Legal marijuana market projected to reach $146.4 billion.
- United States and Canada current epicenter of cannabis
growth.
- Brand recognition and retail reach imperative for market
share.
Capturing market share and creating long-term success in this
explosive market will require brand recognition and retail reach.
Shortly after posting its tenth consecutive quarter of increased
revenues, Wildflower Brands Inc. (OTCQB: WLDFF) (CSE: SUN)
(WLDFF
Profile) announced intentions to further expand its
footprint with the acquisition of premier licensed cannabis
retailer, City Cannabis Corp. A finalized accretive acquisition
will add significant revenues to Wildflower, providing access to
several valuable cannabis licenses in lucrative premium locations.
Other companies in the sector are looking to grow in the market
through other promising ways. Tilray Inc. (NASDAQ:
TLRY) recently acquired Natura Naturals Holdings, boosting
capacity to supply cannabis products across Canada. Canopy
Growth Corporation (NYSE: CGC) (TSX: WEED) bought hemp
company AgriNextUSA to accelerate entry into key American
jurisdictions. Medmen Enterprises Inc. (OTCQX: MMNFF) (CSE:
MMEN) announced the purchase of two vertically integrated
operations, which include retail locations and 25,000 square feet
of cultivation and production capacity. And only two weeks ago,
Curaleaf Holdings Inc. (OTCQX: CURLF) (CSE: CURA)
completed the acquisition of Eureka to provide access to
California’s wholesale market through a large greenhouse
facility.
To view an infographic of this editorial, click here.
Market Frenzy
The sweeping growth of the cannabis industry is rooted at least
in part from a groundswell of public support that has turned into a
tidal wave of acceptance. Fifteen years ago, only a third of
Americans supported federal legalization of marijuana. About
two-thirds of Americans now support
legalization, up from only 54% two years ago. Among adults
under age 35, a whopping 85% favor federal legalization. The
movement gained so much momentum so fast that the industry is
scrambling to keep up. As the cannabis industry and markets mature,
acquisition and consolidation deals appear to be all but
certain.
The global legal marijuana market, valued at $9.3 billion in
2016, is expected to reach $146.4 billion
by the end of 2025, an incredible 16-fold increase over nine years.
Legal cannabis markets are still a relatively new phenomenon, and
the market is nowhere near its total sales potential. An estimated
272 million global consumers use cannabis, equivalent to only about
4% of the world’s population. Growth trajectory is virtually
vertical. Perhaps nowhere is this hyper-growth more spectacular
than North America. Wall Street's top cannabis analyst
forecasts the U.S. market to grow to $80 billion by 2030
assuming national availability.
B.C. Center of Boom
Cannabis demand is even greater north of the border. The
industry has been struggling with cannabis supply shortages ever
since recreational cannabis was legalized across Canada. The
country’s westernmost province, British Columbia, is no exception.
The B.C. market registered a little over CA$19 million in legal
cannabis sales in 2018, but that number is
expected to explode to CA$722 million in annual sales by 2024 — a
mind-boggling 37-fold increase over six years.
Pegged to soar nearly
3,700% in the next six years, British Columbia is ground zero
for cannabis growth. Headquartered at the epicenter of this
upsurge, Wildflower
Brands Inc. (OTCQB: WLDFF) (CSE: SUN) has already
staked out an enviable market position and is further expanding its
retail footprint and product distribution in the province. The
company recently announced that it intends to acquire City Cannabis
Corp. in an all-stock deal.
Holding two of the three City of Vancouver licenses to sell
cannabis, City Cannabis is a premier cannabis retailer and the only
company with multiple licenses in British Columbia. The Letter of Intent looks to solidify Wildflower’s
position as a high-profile retail outlet of premium brands
generating millions in revenues right in the heart of the B.C.
cannabis boom.
“City Cannabis and Wildflower are the perfect combination of
premier products and a premier consumer retail experience,” said
Wildflower CEO William MacLean. “City Cannabis’ retail consumer
data and insight will help shape development of Wildflower’s
product line-up while the retail expertise of City Cannabis will
aid Wildflower in its retail expansion. The combination of
Wildflower and City Cannabis will form a truly global cannabis
company.”
Born in British Columbia, Wildflower now has a retail reach that
extends from Vancouver to Los Angeles and New York. Established in
2012, Wildflower Brands is constantly expanding development,
design, marketing and retail distribution of its branded products
in the cannabis sector. The company launched into Washington State
in 2016 and has been on a tear ever since.
Creating a Global Brand
Today Wildflower now markets its distinctive CBD+ products to
more than 300 retailers in the health and wellness space and
operates in regulated cannabis markets throughout North America in
accordance with jurisdictional regulations for THC and CBD+
products. Wildflower’s unique and holistic products are developed
and manufactured at the company’s U.S.-based GMP facilities, tested
by a third-party lab and backed by a 100%-satisfaction
guarantee.
Each Wildflower product is synergistically formulated to create
a unified global wellness brand. For example, Wildflower’s highly
recognized Wildflower Wellness brand offers a broad array of
hemp-based, full-spectrum, CBD-infused products from vaporizers and
capsules to tinctures, soaps and topicals.
The company’s King Recharge is on the cutting edge of cannabis
technology and delivery systems with its King Extracts, a sleek,
rechargeable vaporizer offering five popular CBD strains and a
unique pocket-sized charging and storage case.
Closely associated with select hospital oncology departments,
Exclusive is Wildflower’s Los Angeles-based dispensary of premium
cannabis products. Wildflower already owns 14 cannabis licenses in
California for recreational and medical cannabis cultivation,
manufacturing, distribution, retail and delivery. Activating all
these licenses could be a jackpot for the company, driving revenues
while minimizing risk.
Expansion into Canada with the acquisition of City Cannabis is
the next step in Wildflower’s global strategy. The thriving retail
outlet, with licenses for several more locations, provides
Wildflower with a high-profile presence in what may be one of the
greatest growth markets in the world. Wildflower plans to market
its enormously successful products through the outlet and launch
into the over-the-counter market with its CBD formulations and
accessories.
An Expanding Footprint
Wildflower’s U.S. footprint currently encompasses more than 200
retailers in Washington state and more than 20 retailers in New
York City. The company partnered with Retail Worx to establish
shop-in-shop retail locations in the nucleus of New York and open
its first Wildflower by Bridges General store.
The obvious next step for Wildflower in this partnership is a
rollout into other Bridges General’s stores in New York City and
San Francisco. Retail distribution in other major U.S. markets
includes over 80 wellness and healthcare practitioners and an army
of retail stores nationwide numbering more than 300. Wildflower is
aggressively expanding both brand recognition and retail reach.
Wildflower continues to capture ever-greater market share with
innovation, retail expansion and its growing family of popular
brands. The company’s strategic partnerships, acquisitions and
organic growth are all bolstered by the company’s marketing genius
focused on locking in loyal consumers.
Grabbing national and celebrity attention, Wildflower used
ingenious product placement during the 2019 Oscars by including its
CBD+ Healing Stick in each of the gift bags of the stars, and
Hollywood is embracing the product.
But Wildflower didn’t stop with the stars. To expand exposure
into a new target audience, Wildflower launched an infomercial
campaign in Phoenix promoting the company’s Wellness’ Cool Stick.
And across the country, the company has employed an innovative
pop-up store technique in SoHo, New York, to introduce its
Wildflower Wellness products. To make this happen, Wildflower
identified a compatible high-profile retail venue and struck a deal
with the outlet, then marketed its products with fanfare in the
upscale establishment for a limited time period, raising market
uptake and visibility.
Wildflower is on a mission to create a global cannabis
enterprise. With such rapid expansion of brand recognition and
retail distribution, Wildflower is carving out its slice of the
cannabis bonanza.
Buying Up Cannabis
And Wildflower isn’t alone in focusing on the booming cannabis
business. Several market leaders have announced recent moves
designed to strengthen their positions in the sector.
Tilray Inc. (NASDAQ: TLRY), a global leader in
cannabis research, cultivation and distribution, has announced
the closing of a definitive agreement to
acquire all of the issued and outstanding securities of Natura
Naturals Holdings Inc., the parent company of a licensed cultivator
of cannabis. The acquisition boosts the company’s capacity to
supply cannabis products across Canada. Natura’s facility will be
renamed High Park Gardens and be used as an additional cultivation
facility to serve the medical and adult-use market in Canada.
Canopy Growth Corporation (NYSE: CGC) (TSX:
WEED) acquired
AgriNextUSA. The acquisition will accelerate Canopy Growth’s
entry into key American jurisdictions. “The United States is the
next stop on Canopy Growth’s desired path to becoming a leading,
revenue-generating company focused on all aspects of cannabinoids
and their potential,” said Bruce Linton, co-CEO and Chairman of
Canopy Growth.
Medmen Enterprises Inc. (OTCQX: MMNFF) (CSE:
MMEN) recently purchased
two vertically integrated operations, which include both retail
locations and 25,000 square feet of cultivation and production
capacity. The company paid a combination of cash and stock valued
at an aggregate of $33.5 million. With the closing of the
acquisitions, MedMen will be licensed for three medical-use
cannabis dispensaries in Arizona.
Curaleaf Holdings Inc. (OTCQX: CURLF) (CSE:
CURA) completed the
acquisition of Eureka, which operates a cultivation facility
that is developing three dispensaries across California. Curaleaf
has the largest footprint of single-branded retail stores in the
United States. “The acquisition of Eureka cements our foundation in
California and positions us well in the largest cannabis
consumption market in the U.S.," said Joseph Lusardi, CEO of
Curaleaf.
Some have called the cannabis bonanza a once-in-a-generation
opportunity and predict that this is simply the start of a
decade-long cannabis bull market that’s only just begun. All
indications suggest those predictions may be correct.
For more information on Wildflower Brands, visit Wildflower
Brands Inc. (CSE: SUN) (OTCQB: WLDFF)
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