Cannabis stocks were were mostly sharply higher monday across US and Canadian markets.
With legalization in Canada moving closer to the October 17th launch, many investors are watching cannabis stocks this month, the expected change in Canada’s law will be beneficial for publicly traded companies such as Wayland Group (OTC: MRRCF), Aurora Cannabis Inc. (OTC:ACBFF), Canopy Growth Corporation (NYSE:CGC) and Aphria Inc. (OTC:APHQF).
Recent reports indicate that the cannabidiol (CBD) market is estimated to grow by 700 percent by 2020, and a report by market intelligence firm Hemp Business Journal projects that the CBD market will grow to $2.1 billion by 2020, an astronomical jump in value compared to last year’s CBD market of $202 million.
Investor interest on CBD, a non-psychoactive component of marijuana, increased after the Drug Enforcement Administration said Thursday it now places FDA-approved drugs with CBD in “Schedule V,” defined as having the lowest potential for abuse, such as over-the-counter treatments for diarrhea and cough suppressants.
Countries across Europe are opening up their minds, their laws and their wallets to cannabis. While the legal status of cannabis is varied across Europe, many governments are taking a progressive approach. Today, medical cannabis is now legal in 22 countries in Europe, with six EU member states announcing legislation in the first half of 2018.
Shares of Wayland Group (OTC: MRRCF) rocketed after the company’s recent announcements:
- On September 27th announced that the Company will open its first retail location in Zurich, Switzerland in 2019 – serving the market with high quality cannabis products that contain a maximum THC content of 1 percent.
- On august 13th the company announced the official launch of MariPlant, the Company’s European nutraceutical line of business. MariPlant products will be available for sale in Germany through www.mariplant.de beginning on August 20, 2018, with strategic expansion planned throughout the European Union.
- On august 15th the company announced that it has successfully exported dry cannabis flowers to Germany. The recent shipment of dry cannabis flowers from its EU-GMP certified facility in Langton, ON Canada, was successfully exported from Canada and then imported to Germany.
- On August 28th the company announced that it has entered into a non-binding term sheet to form a strategic joint venture with San Martino S.S. (“San Martino”), a large scale agricultural company in the Piedmont Region of Italy, founded by Milan businessman Umberto Signorini.
- On September 14th the company announced its first shipment of Mariplant CBD capsules to German pharmacies. On September 12th, 2018 Maricann shipped the first batch of Mariplant CBD capsules to be sold in Munich and the Greater Munich region followed by a shipment on September 14th, 2018 to the Greater Cologne region.
As marijuana stocks wait for Canada to legalize, the fundamentals of the cannabis market are poised for a breakout year.
Wayland Group (OTC:MRRCF) is a vertically integrated producer and distributor of cannabis for medical purposes. The Company was founded in 2013 and is based in Burlington, Ontario, Canada and Munich, Germany, with production facilities in Langton, Ontario where it operates a medicinal cannabis cultivation, extraction, formulation and distribution business under federal licence from the Government of Canada. The Company also has production operations in Dresden, Saxony, Germany and Regensdorf, Switzerland. Wayland is currently undertaking an expansion of its cultivation and support facilities in Canada in a 942,000 sq. ft. (87,515 sq. m) and will continue to pursue new opportunities in Europe.