FinancialBuzz.com’s latest Buzz on the Street Show: Featuring Our Corporate News Recap on “Weekend Unlimited Announces Retail License For Northern Lights Supply In Alberta”
Weekend Unlimited Inc. (CSE: POT) (OTC: WKULF) is a cannabis company that aggregates and scales small to medium brands, primarily in the categories of flower, extracts, and edibles.
Weekend Unlimited Inc. partner dispensary Northern Lights for which Weekend Unlimited has previously announced an arms-length agreement to acquire 49% of, was one of ten to get a new cannabis retail store operating license in Alberta.
The rapidly expanding cannabis industry has introduced new segments as its growth continues. The uses for cannabis are specifically split into two sectors: medical and recreational. However, within the sectors, there are sub-segments compromised of various different markets such as oil, tinctures, flower, and consumables. According to data compiled by Grand View Research, the global legal cannabis market was valued at USD 9.3 Billion in 2016. Additionally, it is expected to witness a CAGR of 34.6% throughout the forecast period from 2018 to 2025. The market is largely growing due to the ongoing spread of legalization efforts globally for both medical and recreational uses.
The industry is currently experiencing a high demand for cannabis in both medical and recreational applications. Products being offered to consumers are based on concentrates like THC and CBD, which are found naturally within the plants. Based on recent trends, the edibles market is among the sectors to witness significant growth in the near future. According to data compiled by ArcView Market Research, in partnership with BDS Analytics, edible sales are on track to reach more than USD 4.1 Billion by 2022. Specifically, in 2017, spending on cannabis-infused food and beverages reached USD 1 Billion in the North American region alone. The majority of the edibles sold within the U.S. were candy or chocolate, which accounted for over 60% of the overall U.S. edible market. “Established big-brand food and beverage companies are beginning to take notice of the cannabis edibles market and this is likely just the tip of the iceberg,” said Troy Dayton, Chief Executive Officer of ArcView Market Research. “As the edibles business grows and regulatory fears ease, the pace of intra-industry mergers and outside acquisitions will increase as well.”
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