Business

How Cannabis Investment is Spreading Across the Globe

Published

5 years ago

October 3, 2019

Investment in cannabis has no borders, and cannabis companies like World High Life PLC (NEX: LIFE), GreenStar Biosciences Corp. (CSE: GSTR) and Veritas Farms Inc. (OTC: VFRMD) prove it

As the cannabis business develops, investors are establishing new frontiers and expand to new markets. These include the U.S., Europe and South American countries, such as Colombia that recently hosted the first medical cannabis investment summit in Latin America.

The Cannabis Summit that took place on September 12-13 in Bogota, seeked to raise investments of 20-40 million dollars and invited 150 investors and 70 businessmen.

This is not the first time that multimillion-dollar medical cannabis businesses have been made in Colombia. Just in March this year, an analysis was published about how this industry moves in the country. The analysis presented Plantmedco, a national company that attracted the attention of foreign investors, who were willing to inject a juicy capital close to US$40 million.

Hence, the estimate of 20 or 40 million dollars that were expected to be raised in investment during the summit in Bogota is not something new. What is news is that investors The Arcview Group and Muisca Capital Group presented the event as the first medical cannabis investment summit in Latin America, the “Cannabiz Latino Hub – Impact Investment Summit & B2B Expo”.

Thus, Bogotá consolidates itself as the first city in Latin America to hold such a summit. According to Muisca Capital Group CEO Carol Ortega, this translates into an opportunity for the region to consolidate a venture capital community that will help propel Latin legal cannabis companies to the next level, allowing them to compete internationally.

Figures managed by Muisca Capital Group show that by 2028 this industry is expected to reach 13 billion dollars, and that by 2019 its growth in the world market will increase by 38%.

“The positive socio economic impact that the legal cannabis industry is bringing to Latin America is undeniable and we are pleased to help the region move forward by connecting global capital with business opportunities,” said Troy Dayton, CEO of investor group The Arcview Group.

Data collected by El Espectador, according to advanced talks with companies immersed in this business, show that the medical cannabis industry can generate jobs where the lowest paid employee receives about $1,200,000 per month. Added to the above, it is estimated that a single hectare of cultivation can generate between US$3 and US$8 million.

Investments in Europe

Latin America is not the only region targeted by cannabis investors. Some companies decided to target Europe, as it is another market with a huge potential, estimated to be worth 58 billion euro by 2029.

An investment company World High Live PLC (NEX: LIFE) recently made news in the UK by announcing the proposal to acquire all shares of Love Hemp in a deal valued at 9 million GBP. Love Hemp is the British CBD leader. The company has their products available at over 1,200 retailers in the country, on top of the agreements they have with big network stores like Boots, Sainsbury’s, Tesco or Superdrug.

World High Life wants to be a part of the CBD and medicinal cannabis business developing in Europe. With Love Hemp, they are planning to enter Germany in 2020 and expand further from there, adding other promising cannabis companies to their portfolio.

The U.S. market is investors’ target

Even the U.S. is a market with an unfulfilled potential for investments in cannabis. Canadian companies, such as GreenStar Biosciences Corp. (CSE: GSTR), are executing the plan to enter the American market through the acquisition or partnership agreements with local cannabis enterprises. GreenStar has even made it their core business strategy, to build a diverse portfolio of top, most promising North American companies touching on every aspect of the product life cycle.

Cowlitz is a Washington state-based producer and distributor of cannabis products for recreational use, and a tenant partner company of GreenStar. They are a leader in their state, as no other company produces cannabis with high quality, high THC level and at affordable prices. Cowlitz regularly records a quarterly revenue of $4 million and at the end of last year reported a revenue of $14.6 million.

Washington state is one of the 13 U.S. states where trading recreational cannabis is legal. Another one where marijuana business is blooming is Colorado which attracts a lot of investment. Veritas Farms Inc. (OTC: VFRMD) has their corporate headquarters in Lauderdale, Florida, but decided to base a 140-acre industrial hemp farm and manufacturing facility in Pueblo, Colorado. The company produces eight categories of high quality hemp oil products. Their focus on honesty, transparency and proven quality pays off and brings tremendous results. Veritas Farms, which was established in 2015, generated more than $2.9 million in total revenue in the second quarter of 2019, that is a 500% increase year on year. Their gross profits skyrocketed by almost 800% to $1,523,413.

Looking at the success of their products, the company is in the process of expanding their billboard and large poster campaign to five new cities: Atlanta, Dallas, Houston, Denver, and Colorado Springs. The campaign will last three months, until December 29.

As the medicinal and recreational cannabis markets grow in North America, South America and Europe, it becomes clear that we are witnessing the emergence of a new global industry. It will be interesting to see how the companies that took first steps into becoming world key cannabis players, succeed.

Business

Turning Tragedy into Triumph Through Walking With Anthony

Published

6 days ago

April 18, 2024

Rosario Farell

On the morning of February 6, 2010, Anthony Purcell took a moment to admire the churning surf before plunging into the waves off Miami Beach. Though he had made the dive numerous times before, that morning was destined to be different when he crashed into a hidden sandbar, sustaining bruises to his C5 and C6 vertebrae and breaking his neck.

“I was completely submerged and unable to rise to the surface,” Purcell recalls. “Fortunately, my cousin Bernie saw what was happening and came to my rescue. He saved my life, but things would never be the same after that dive.”

Like thousands of others who are confronted with a spinal cord injury (SCI), Purcell plunged headlong into long months of hopelessness and despair. Eventually, however, he learned to turn personal tragedy into triumph as he reached out to fellow SCI victims by launching Walking With Anthony.

Living with SCI: the first dark days

Initial rehabilitation for those with SCIs takes an average of three to six months, during which time they must relearn hundreds of fundamental skills and adjust to what feels like an entirely new body. Unfortunately, after 21 days, Purcell’s insurance stopped paying for this essential treatment, even though he had made only minimal improvement in such a short time.

“Insurance companies cover rehab costs for people with back injuries, but not for people with spinal cord injuries,” explains Purcell. “We were practically thrown to the curb. At that time, I was so immobile that I couldn’t even raise my arms to feed myself.”

Instead of giving up, Purcell’s mother chose to battle his SCI with long-term rehab. She enrolled Purcell in Project Walk, a rehabilitation facility located in Carlsbad, California, but one that came with an annual cost of over $100,000.

“My parents paid for rehabilitation treatment for over three years,” says Purcell. “Throughout that time, they taught me the importance of patience, compassion, and unconditional love.”

Yet despite his family’s support, Purcell still struggled. “Those were dark days when I couldn’t bring myself to accept the bleak prognosis ahead of me,” he says. “I faced life in a wheelchair and the never-ending struggle for healthcare access, coverage, and advocacy. I hit my share of low points, and there were times when I seriously contemplated giving up on life altogether.”

Purcell finds a new purpose in helping others with SCIs

After long months of depression and self-doubt, Purcell’s mother determined it was time for her son to find purpose beyond rehabilitation.

“My mom suggested I start Walking With Anthony to show people with spinal cord injuries that they were not alone,” Purcell remarks. “When I began to focus on other people besides myself, I realized that people all around the world with spinal cord injuries were suffering because of restrictions on coverage and healthcare access. The question that plagued me most was, ‘What about the people with spinal cord injuries who cannot afford the cost of rehabilitation?’ I had no idea how they were managing.”

Purcell and his mother knew they wanted to make a difference for other people with SCIs, starting with the creation of grants to help cover essentials like assistive technology and emergency finances. To date, they have helped over 100 SCI patients get back on their feet after suffering a similar life-altering accident.

Purcell demonstrates the power and necessity of rehab for people with SCIs

After targeted rehab, Purcell’s physical and mental health improved drastically. Today, he is able to care for himself, drive his own car, and has even returned to work.

“Thanks to my family’s financial and emotional support, I am making amazing physical improvement,” Purcell comments. “I mustered the strength to rebuild my life and even found the nerve to message Karen, a high school classmate I’d always had a thing for. We reconnected, our friendship evolved into love, and we tied the knot in 2017.”

After all that, Purcell found the drive to push toward one further personal triumph. He married but did not believe a family was in his future. Regardless of his remarkable progress, physicians told him biological children were not an option.

Despite being paralyzed from the chest down, Purcell continued to look for hope. Finally, Dr. Jesse Mills of UCLA Health’s Male Reproductive Medicine department assured Purcell and his wife that the right medical care and in vitro fertilization could make their dream of becoming parents a reality.

“Payton joined our family in the spring of 2023,” Purcell reports. “For so long, I believed my spinal cord injury had taken everything I cared about, but now I am grateful every day. I work to help other people with spinal cord injuries find the same joy and hope. We provide them with access to specialists, funding to pay for innovative treatments, and the desire to move forward with a focus on the future.”