FinancialBuzz.com’s latest Buzz on the Street Show: Featuring Our Corporate News Recap on “Pasha Brands Receives Conditional Acceptance for CSE Listing.”
Pasha Brands Ltd. (CSE: CRFT), Canada’s largest craft cannabis brands organization, is pleased to announce that it has received conditional acceptance for its planned listing on the Canadian Securities Exchange (CSE). Pasha is in the process of completing a reverse-takeover transaction involving Broome Capital Inc. (TSX-V: BCP) (“Broome”), following which it is anticipated that Broome will transfer its listing to the CSE under the name “Pasha Brands Ltd.”, and will trade under the ticker symbol “CRFT”.
Based in Vancouver, British Columbia, Pasha Brands is a vertically integrated organization that is firmly rooted in BC’s craft cannabis industry, which boasts an international reputation. With proven capabilities in cannabis cultivation, genetic research and development, product, processing, and retail, Pasha is uniquely positioned in the new legal cannabis market through its network of hundreds of craft cannabis suppliers under the Pasha umbrella.
Pasha’s subsidiary, BC Craft Supply Co. Ltd., is developing a craft cannabis campus, which is dedicated to bringing craft quality into the newly legal cannabis market in Canada. BC Craft Supply Co. Ltd. is driven to assist craft growers in obtaining security clearance and licensing to grow as micro-cultivators, specializing in education and compliance to bring growers into the regulated cannabis supply market.
Following Canada’s wide-ranging cannabis legalization, a string of countries have delved into the cannabis industry, showing a particular interest in medical cannabis. The recreational market still faces barriers due to the psychoactive effects of cannabis’ derivative, marijuana, and its THC content. However, extensive research has proposed that its counterpart, CBD, does not induce psychoactive effects while still providing positive health benefits. Specifically, hemp-derived CBD contains minimal traces of THC and as a result, it provides users with a therapeutic and relaxing effect. So far, studies conducted to evaluate the efficacy of CBD have returned positive results, subsequently leading to international government bodies adopting the use of CBD for medicinal purposes. Additionally, the widespread use of CBD could potentially impact other countries and regions as they ponder entering into the market as well. Perhaps most notably, the Latin American region has developed into a growing marketplace due to its lenient regulations. The growth of the Latin American marketplace is largely due to Uruguay and Jamaica’s legalization of cannabis, as Uruguay became the first country to fully legalize cannabis back in 2013. Now, Uruguay allows its citizens to grow, distribute, and consume cannabis freely, as the country has often maintained a liberal stance in regards to narcotics. On the other hand, several Latin American countries such as Colombia and Mexico face a ravaging war on drugs, which has put the two in troublesome situations. For instance, selling, buying, and exporting drugs has long been illegal in Colombia. However, in 1994, the Constitutional Court of Colombia ruled that moderate possession of cannabis for personal use was legal. Colombia also went on to mark other historic milestones in 2015 after President Juan Manuel Santos allowed cannabis for medicinal use and the Colombian Supreme Court ruling allowing for the cultivation of up to 20 plants. Overall, the collective effort by Latin American countries highlights the profound impact cannabis is having across the region. According to data compiled by Prohibition Partners, the Latin American cannabis market was valued at USD 125 Million in 2018. By 2028, the market is expected to be valued at USD 12.7 Billion.
The Latin American region is an attractive marketspace for many entrepreneurs and investors because of the large user base. Prohibition Partners suggests that the region has a prospective market of over 500 million adult use consumers and 4.3 million patients. The user base also traverses several countries such as Argentina, Brazil, Chile, and Peru, which have all legalized cannabis in some form. However, despite the widespread accessibility within the region, the marketplace still faces heavy competition from regions such as Germany and Canada. Regardless, many cannabis corporations have already moved to establish operations within the Latin American region, mainly due to cultivation matters. In particular, Colombia has become a region of major interest as, compared to countries like Germany and Canada, Colombia faces significantly fewer barriers in addition to inexpensive cultivation costs. Additionally, the favorable weather climate in Colombia also allows cultivators to produce high-quality cannabis. As a result, Colombia is expected to provide 44% of the global medical cannabis demand in 2018. Furthermore, Colombia is also planning to produce nearly 40.5 tons of cannabis per year beginning in 2019, according to BizLatin Hub. “We believe that the expansion of a Latin American market will significantly impact the global cannabis industry, undercutting producers and pricing worldwide. Strong forecast population growth, a perfect climate for cannabis cultivation, bolstered by progressive legislation and regulatory change are set to ensure Latin America remains a very attractive prospect for cannabis companies, and investors,” said Stephen Murphy, Managing Director at Prohibition Partners.
For more information, please visit: Pasha Brands Ltd.
For more corporate news on Pasha Brands Ltd., check out the Buzz on the Street
About Buzz on the Street: One of FinancialBuzz.com’s latest corporate and financial news shows, covering the latest trending stock market news. Buzz on the Street looks to become a leader in corporate video news dissemination. Buzz on the Street is 100% original content, brought to you by Financial Buzz Media.