Wayland Group Corp. (CSE:WAYL; FWB:75M; OTCQB:MRRCF) (“Wayland” or the “Company”), a global, vertically integrated cultivator and processor of cannabis, today announced that its Board of Directors has initiated a process to explore a broad range of strategic alternatives, including, but not limited to assessing the potential spin-out and/or European listing of its international assets (the “International Assets”) in an effort to unlock the value of the Company’s vast international asset portfolio (a “Spinout Transaction”), as well as its underlying domestic Canadian assets. Any Spinout Transaction of the International Assets could include the Company’s European, Latin American, and Asia-Pacific operations.

The Company strongly believes in its current strategy; however, it does not believe its current share price accurately reflects the global portfolio Wayland has, and continues to create.


“We have demonstrated our capability in predicting future markets and working systematically to put supply chain in place, with some of the lowest transaction costs for international acquisitions in addition to organic growth and partnerships.  Our exponential growth model has tremendous potential, as it is built on the solid foundation we have laid from five years of organizational learning as a licensed producer in Canada. This has allowed us to become one of five companies with EU-GMP certification on top of having all the requisite cultivation and processing licenses in Canada. It is time for us to capitalize on the largest future cannabis market in the world and focus our efforts in the wellness and medical markets to accomplish our vision of enhancing life through cannabis,” stated Ben Ward, CEO of Wayland.

Canaccord Genuity Corp. has been retained to serve as the Company’s financial advisor related to the strategic review process.

There can be no assurance the strategic review will result in the completion of any transaction or any other alternative. The Company has not set a timetable for completion of the review process, and it does not intend to comment further unless a specific transaction or alternative is approved by the Board of Directors, the review process is concluded, or it is otherwise determined that other disclosure is appropriate.

Paul Pathak, Chairman of the Board commented, “Our Board is committed to maximizing value for our shareholders. Our management team has done a terrific job of building a state of the art cultivation facility in Langton and securing significant distribution agreements with several of the Provinces, while at the same time assembling an impressive portfolio of international assets. Our end goal, however, is to translate that into value for our shareholders and we are confident that the results of our strategic review and potential spin-out of our international assets will be important steps to accomplish that.”

European Assets

Germany
Wayland has several active initiatives in Germany that give the Company a distinct advantage in the German and European markets. The Company is the only organization in the world that has a facility ready for domestic cannabis cultivation. Located in Ebersbach, just outside of Dresden, the proposed facility gives Wayland 820,000 square feet of clean-room cultivation, processing, and extraction capabilities. It is currently being utilized to process industrial hemp from the Company’s adjacent 164-hectare hemp operation where the Company recently completed their first harvest yielding over 120,000 kg of dry hemp flowers. Once processed, the CBD distillate will be used for the Company’s recently launched nutraceutical business, MariPlant GmbH. Finally, the Company expects to receive their second EU-GMP certification for the Ebersbach facility in a matter of weeks, further strengthening Wayland’s medical production and distribution capabilities.

Switzerland
Wayland’s second European cultivation site is located in Regensdorf, Switzerland, a suburb of Zurich. The 60,000 square foot facility’s current production profile is approximately 2,000 kg of CBD flower per year. Wayland plans to upgrade this facility to bring it in line with the Company’s production standards from existing GACP standards and increase capacity to 14,000 kg per year with the goal of developing their own CBD products for sale throughout Switzerland and the rest of the European Union. Wayland will locate its Active Pharmaceutical Ingredients (API) manufacturing site for its global operations in Switzerland, taking advantage of existing phyto pharmaceutical talent in country.

Italy
Wayland has a definitive joint venture agreement with CBD Italian Factory S.S., a company of Group San Martino for the production of high quality cannabis products in Italy. The Company expects that the joint venture will marry the best of both entities with world-leading technology by Rockwell Automation paired with existing infrastructure in Piedmont, Italy, which includes agricultural expertise and biogas electricity. This will allow the sustainable production of quality CBD and THC products from a naturally derived fuel source. CBD Italian Factory S.S. and San Martino Group will bring mass-scale agricultural skills to the joint venture with a focus on local sustainable practices and expertise in Biomass Energy production. The Company holds 50.1 % of the joint venture while 49.9% is held by CBD Italian Factory, with Massimiliano Umberto Signorini assuming the role of CEO for the new company.

Malta
In July of 2018, Wayland’s application to Malta Enterprise to set up a business in Malta to manufacture finished dose medical cannabis was approved. Malta will offer the Company a unique advantage as Wayland will have the ability to import, extract, manufacture finished dose products, and distribute cannabis for medical purposes within Malta and the entire European Union. Malta Enterprise allows the Company to develop a wide variety of pharmaceutical products and export them across the European Union, and as Malta is a member of the EU, certain VAT tax are inapplicable to Malta Enterprise.

United Kingdom
The Company has entered into an agreement to acquire a 51% stake in U.K. based Theros Pharma Ltd. (“Theros”), an early stage company that has successfully imported cannabis to the U.K. for patients with a prescription for medical cannabis. The company expects to be able to import cannabis to patients in the UK as early as March 2019.

Latin American and Asia Pacific Assets

Argentina
Wayland has entered into an agreement to purchase 819 hectares of existing developed agriculture land in San Juan Province in Argentina, which is the ideal micro climate for cultivation. The properly has existing mass scale irrigation, using runoff from the Andes Mountains, and produces 1,000,000 kg of wine juice, and 400,000 kg of olives per year.  Existing on site agronomists and farmers will take their knowledge of horticulture and apply it to Wayland’s existing world class system of cannabis cultivation. Outdoor cultivation will take place in existing alfalfa fields, to supply Wayland with low cost inputs.  Initial extraction will take place in Argentina.

Colombia
The Company has entered into an agreement to acquire 100% of the outstanding shares of Colma Pharmaceutical SAS (“Colma”), a licensed producer of THC cannabis in Colombia, holding four licenses for cultivation and processing on a leased premise in Ibaque, Colombia. Wayland plans to cultivate THC cannabis outdoor and year-round with an infrastructure investment including 415,000 square feet of processing and clone and vegetation greenhouse facilities to support outdoor cannabis flower production of 125 hectares.

Australia
Wayland has entered into an agreement to acquire 50.1% of Tropicann Pty Ltd. (“Tropicann”), a privately owned Australian company located in Darwin, Northern Territory. It plans to build an outdoor grow facility to take advantage of the ideal cannabis cultivation climate with minimal environmental impact. The Company believes it can leverage a major port in Darwin that will provide access to major APAC markets.

Canadian Assets

Canadian Operations
The Company’s flagship facility is located in Langton, Ontario with cultivation, extraction, formulation, and distribution capabilities. The facility is a purpose-built cannabis production facility with an emphasis on automation and energy efficiencies. The Company partnered with Rockwell Automation to develop a fully automated system including the development of AI Data Grow, the Company’s artificially intelligent master grower. This allows Wayland to drastically reduce its cultivation labour needs by approximately 90% of the industry average while also mitigating risks associated with infecting crops. The facility will be completed in two phases, the first of which is approximately 225,000 square feet in size with 90,000 square feet of production and office space and approximately 135,000 square feet of grow space which will yield the Company approximately 65,000 kg of dried cannabis flower per year. Phase two will bring an additional 719,000 square feet of grow space online taking production capacity much greater than 100,000 kg per year.

Wayland’s Langton campus has been certified by the European Medicines Agency after receiving the certification of EU-Good Manufacturing Practices (“EU-GMP”). EU-GMP certification allowed Wayland to sign the largest ever medical cannabis export deal with Cannamedical of Germany, agreeing to provide the medical cannabis distributor with a minimum of 9,000 kg of product over a three-year period. Wayland is one of only five cannabis companies in the world to receive the EU-GMP designation which is another advantage the Company believes it has in the global medical cannabis arena as demonstrated by this large purchase order.

Provincial Agreements

  • Manitoba: Supply agreement with the Manitoba Liquor & Lotteries Corporation (“MBLL”) to make available for purchase by MBLL at least 550kg of various cannabis products during the first twelve months of the agreement.
  • Alberta: Supply Agreement with the Alberta Gaming, Liquor & Cannabis Commission (“AGLC”) to allocate up to 3,375kg of cannabis product for the Alberta market within the first six months.
  • British Columbia: Through a memorandum of understanding (“MOU”), Wayland is a preferred licensed producer to the BC Liquor Distribution Branch (“BCLDB”) to initially supply approximately 3,622kg of non-medical cannabis to BCLDB over the first 12 months following legalization.
  • Ontario: Selected by The Ontario Cannabis Store (“OCS”) to supply a variety of safe, high quality cannabis products through its online store since launching October 17, 2018.

Brand Portfolio
The Company has taken a purposeful and consumer-centric approach to each of its brands/offerings, each validated and optimized with local consumer research. Strains within each portfolio will match brand positioning and satisfy target consumer needs and benefits.

  • Solara C: Designed for the modern, active consumer who is looking to find solutions to help them live healthier/better without using stronger pharmaceutical alternatives. This brand will be CBD-only and create a wide range of products from beverages to topical creams with the expressed purpose of promoting a healthy, balanced lifestyle.
  • Kiwi: Designed for light users who are new to the category and looking to better understand Cannabis and its effects. The brand will exist to simplify and make the cannabis experience more welcoming and approachable to the masses.
  • Northern Harvest: Designed for light / medium users who enjoy Cannabis as part of their active and social lives. The brand will exist to promote a more natural and balanced approach to Cannabis with a focus on providing a fun and lighthearted experience.
  • High Tide: Designed for medium to heavy users who enjoy the cerebral effects of Cannabis. This brand will produce high quality, high THC cannabis with the expressed purpose of pushing the limits of the THC experience.
  • Lost at Seed: Designed for medium to heavy users who want only the best Cannabis money can buy. This brand will provide highly desirable and impossible to find strains only available on a limited assortment basis.
  • Rare Dankness: This partner brand will be for experienced Cannabis users who are knowledgeable about strains, potencies and profiles. It will offer a wide selection of premium award-winning strains that users won’t be able to find anywhere else.

Maricann Group Inc., through its subsidiaries, is operating under the Wayland Group name. For further details see the press release dated September 24, 2018.

About Wayland Group

Wayland is a vertically integrated cultivator and processor of cannabis. 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 cannabis cultivation, extraction, formulation, and distribution business under federal licenses from the Government of Canada. The Company also has production operations in Dresden, Saxony, Germany, Regensdorf, Switzerland, Allesandria, Piedmont, Italy, Ibague, Colombia, London, UK, Australia, and Argentina. Wayland will continue to pursue new opportunities globally in its effort to enhance lives through cannabis.

Forward Looking Information

This news release includes forward-looking information and statements, which may include, but are not limited to, information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company. Such statements include statements regarding the Company’s plans for its operations in all regions, proposed acquisitions, the Company’s continued global expansion, its effect on the Company’s global platform and the Spinout Transaction. Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein. Such assumptions, risks, uncertainties and other factors include, but are not limited to, that the proposed transactions will be completed on the terms and timelines anticipated by the Company or at all, the effect that the proposed transactions, and Spinout Transaction if and when completed, will have on the Company’s global platform, that all necessary stock exchange, regulatory and other approvals will be received in connection with the proposed transactions and or the Spinout Transaction. Although the Company believes that any forward-looking information and statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that any such forward-looking information and statements will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and statements. Any forward-looking information and statements herein are made as of the date hereof, and except as required by applicable laws, the Company assumes no obligation and disclaims any intention to update or revise any forward-looking information and statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward looking information and statements herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws. The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.

The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release

For more information about Wayland, please visit our website at www.waylandgroup.com

Contact Information:
Investor Relations
Graham Farrell
VP, Communications
Graham.Farrell@waylandgroup.com
647-643-7665

Media Inquiries: media@waylandgroup.com

Corporate Headquarters (Canada)
Wayland Group Corp. (Toronto)
845 Harrington Court, Unit 3
Burlington Ontario L7N 3P3
Canada
289-288-6274
European Headquarters (Germany)
Maricann GmbH
Thierschstrasse 3, 80538 Munchen, Deutschland

Click here to connect with Wayland Group Corp. (CSE:WAYL; FWB:75M; OTCQB:MRRCF)  for an Investor Presentation. 

Source: globenewswire.com

Progressive Planet Solutions Inc. (TSXV: PLAN) (“PLAN” or “Progressive Planet”), announces that, further to its news releases dated December 22, 2020 and January 7, 2021 the Company has closed its non-brokered private placement financing comprising of 7,500,000 units, at $0.10 per unit, for total gross proceeds of $750,000 .

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 Revive Therapeutics Ltd. (” Revive ” or the ” Company “) (CSE: RVV) ( USA : RVVTF), a specialty life sciences company focused on the research and development of therapeutics for medical needs and rare disorders, is pleased to announce that is has entered into an agreement with Canaccord Genuity Corp. and Leede Jones Gable Inc. as the co-lead underwriters (collectively, the ” Underwriters “), pursuant to which the Underwriters have agreed to purchase, on a bought-deal basis, 20,000,000 units (the ” Equity Units “) at a price of $0.50 per Equity Unit for gross proceeds to the Company of $10,000,000 (the ” Offering “).

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The Australian cannabis market has been maturing since medical marijuana was federally legalised in 2016.

The next year, Food Standards Australia New Zealand legalised low-THC hemp food for human consumption in Australia. The country went on to legalise medical marijuana exports in 2018, allowing medicinal marijuana products developed in Australia to be exported to licenced recipients in countries where the drug is legal.

Recreational cannabis remains federally illegal in the country, but recent legislation shows the door may be opening. In 2019, the Australian Capital Territory passed a bill allowing for the possession and growth of small amounts of cannabis for personal use. The law went into effect on January 31, 2020.

More recently, in late 2020, the Therapeutic Goods Administration greenlit the sale of low-dose cannabidiol (CBD) through over-the-counter methods without a prescription. The ruling from the Australian regulatory agency is expected to officially come into effect in February 2021.

With these and other changes in the works, Australia’s cannabis industry is projected to have long-term potential. The legal cannabis market in Oceania is expected to be worth US$1.55 billion by 2024, with Australia accounting for 79 percent of the region’s market, Prohibition Partners forecasts.

According to a study from FreshLeaf Analytics, the value of the medical market in Australia reached AU$95 million in 2020, and the firm expects revenue to jump again to over AU$150 million in 2021. In short, Australia’s role in the global cannabis industry will certainly continue to grow.

Here the Investing News Network profiles 10 ASX cannabis stocks with market caps between AU$30 million and AU$225 million. All ASX cannabis stocks below are listed in order of market capitalization from largest to smallest, with data compiled using TradingView’s stock screener on January 12, 2021.

1. Creso Pharma (ASX:CPH)

Market cap: AU$209.83 million

Creso Pharma was the first company to import medical cannabis into Australia and the first to launch these products in Switzerland for people, as well as animals. The cannabis company’s anibidiol product was the first hemp CBD complementary feed in animal health thanks to a partnership with Virbac Switzerland. Creso Pharma has also launched cannaQIX in Switzerland; it was the first CBD nutraceutical in human health.

The company’s medicinal cannabis product lines cover therapeutics, nutraceuticals, animal health, lifestyle and topicals.

2. Cann Group (ASX:CAN)

Market cap: AU$176.84 million

Cann Group provides a range of medicinal cannabis products for patients in Australia and globally. In 2017, the company was granted Australia’s first cannabis research licence, as well as the first medicinal marijuana cultivation licence. Cann Group partners with leading medical scientists in Australia to research and harness the therapeutic potential of cannabinoids, terpenes and other bioactive constituents of cannabis.

The company has secured supply agreements in global cannabis markets, including the UK, Germany and other European segments.

3. Incannex Healthcare (ASX:IHL)

Market cap: AU$166.42 million

Incannex Healthcare is a clinical-stage cannabinoid medicine company with global export capacity. It has four clinical programs underway for the development of a variety of cannabis medicinal products aimed at major unmet medical needs, including obstructive sleep apnea, traumatic brain injury/concussion, sepsis-associated acute respiratory distress syndrome and temporomandibular joint disorder.

In 2020, the company worked to advance its clinical trials. By the second half of the year, cannabinoid products accounted for Incannex’s entire revenue stream.

4. Botanix Pharmaceuticals (ASX:BOT)

Market cap: AU$131.37 million

Botanix Pharmaceuticals has a product pipeline that includes three advanced clinical programs using synthetic cannabidiol for the topical treatment of serious skin diseases and for antimicrobial applications. The company also has an exclusive licence to use a proprietary drug-delivery system called Permetrex for direct skin delivery of pharmaceuticals.

Botanix Pharmaceuticals’ programs are focused on treating acne, rosacea, atopic dermatitis and microbial infection. The company secured a clear development path for its BTX 1801 synthetic cannabidiol antimicrobial product after the successful completion of a pre-investigational new drug meeting with the US Food and Drug Administration.

5. Althea Group Holdings (ASX:AGH)

Market cap: AU$114.2 million

Althea Group Holdings takes the concept of medical cannabis a step further with its work as a pharmaceutical-grade cannabis supplier. In addition to offering relief through accessible medical cannabis, the company is implementing components of the plant in its research on advanced drugs.

Althea has successfully expanded into the global cannabis market with a wholesale supply agreement to import a range of Althea-branded finished products for sale and distribution in South Africa beginning in Q2 2021. This agreement came on the heels of the news that the company is slated to become the first commercial supplier of Australian medicinal cannabis extract products to the German market, with all necessary licences for sale and distribution granted by the German government.

6. Zelira Therapeutics (ASX:ZLD)

Market cap: AU$113.79 million

Zelira Therapeutics’ efforts are on unmet clinical needs and on using medicinal cannabis to treat a range of diseases and disorders. Its most common target areas include pain, anxiety and sleep.

Zelira is largely focused on developing treatment options using plant-based medicinal marijuana, and currently has three clinical-stage programs with a focus on insomnia, autism and opioid reduction. The company is also conducting a pre-clinical research program to test cannabinoids in breast, brain and pancreatic cancer.

7. Medlab Clinical (ASX:MDC)

Market cap: AU$75.51 million

Medlab Clinical is a medical research and development company focused on novel biotherapeutics such as nutraceuticals and pharmaceuticals. The company is also developing pharmaceutical cannabis products.

In early 2020, Medlab Clinical launched the NanaBis Observation Study in Australia. NanaBis is a cannabis-based pain treatment drug that may prove useful as an alternative to opioid medication. It is also being used to investigate cancer pain management.

8. BOD Australia (ASX:BDA)

Market cap: AU$49.25 million

BOD Australia is focused on cannabis and hemp-related products. It develops, distributes and markets health and skincare products created using plant-based extracts in Australia. The company secured a foothold in the European cannabis market in 2020 with a AU$200,000 purchase order for four Swiss-branded hemp seed oil products to be sold in France, the Netherlands and the UK.

BOD Australia’s reach in Australia ranges from selling prescription and over-the-counter products to more than 1,000 outlets, such as pharmacies, retail stores and healthcare chains. It also has distribution agreements with two pharmacy wholesalers in Australia.

9. IDT Australia (ASX:IDT)

Market cap: AU$42.47 million

One of Australia’s oldest listed life science companies, IDT Australia is a pharmaceutical manufacturing company with extensive experience in the development and production of pharmaceutical products. Through its GMP-compliant facilities, the company provides full-scale services for new drug development, plus scale-up and commercial active drug manufacturing for local and international clients.

IDT Australia’s clients include Cann Group; IDT Australia is the manufacturer of the medical cannabis products that are a part of two of Cann Group’s export supply agreements with European and UK partners.

10. MMJ Group Holdings (ASX:MMJ)

Market cap: AU$31.04 million

MMJ Group Holdings has a wide range of cannabis investments, including healthcare products, technology, infrastructure, logistics, processing, cultivation, equipment, retail and research and development.

Among other companies, it has invested in Harvest One Cannabis (TSXV:HVT,OTCQB:HRVOF), which develops health and wellness products; Fire & Flower Holdings (TSXV:FAF,OTCQX:FFLWF), a recreational cannabis retailer that’s developed a variety of cannabis products and accessories; and MediPharm Labs (TSXV:LABS,OTQQX:MEDIF), a cannabis extraction company that received its cannabis oil production licence from Health Canada in 2018. MediPharm Labs has launched cannabis extraction services in Australia.

Investor takeaway

The presence of these ASX-listed cannabis companies shows that the cannabis industry in Australia is undoubtedly growing, as are investment opportunities in Australia’s cannabis industry. While recreational marijuana remains illegal in the land down under, the medical cannabis industry is thriving, making that side of the sector worth considering.

So far, Australia has no timeline attached to the legality of recreational use of marijuana, but it will be a story to watch over the coming years for those interested in the space.

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Legal cannabis is spreading. According to a new report by Grand View Research, the global legal marijuana market is expected to reach US$73.6 billion by 2027 with a compound annual growth rate of 18.1 percent.

A survey of over 1,000 US consumers found that the modern cannabis user is largely representative of the general population. Moreover, cannabis consumption today blurs the lines between strictly recreational or medical. In fact, more than 50 percent of consumers report using cannabis for both purposes. As THC and CBD products make their way into an even wider array of product categories, our frame of reference for the modern cannabis user will continue to evolve.

In 2019, the medical cannabis market took home a leading revenue share of 71 percent, driven by the widespread adoption of cannabis as a pharmaceutical alternative for a wide range of conditions, including cancer, arthritis, Parkinson’s disease and more. A growing need for effective pain management therapies is expected to boost product demand even further.

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Khiron Life Sciences Corp. (TSXV:KHRN) is a vertically-integrated medical cannabis company fully licensed to conduct its core operations in Colombia.Send me an Investor Kit

Major telehealth platforms in the medical cannabis industry

Telehealth represents the intersection between innovative technology and the forefront of medical science. While remote medical practice saw its beginnings more than half a century ago, recent technological advancements have connected more patients to physicians than ever before.

In the US, platforms like NuggMD and IndicaMD provide patients with an online medical cannabis card that enables remote purchase of the drug. Patients can meet with physicians over secure video chat and can be approved to access cannabis within minutes. Physicians typically follow-up with patients by email, recommending the types of cannabis that would best alleviate their ailments and ensuring that they don’t purchase the wrong products. Other platforms exist to oversee the rapid delivery of cannabis and hemp products to patients across participating states.

Other parts of the world are undergoing the same transition. It has been more than eight years since Colombia — a country that represents more than a quarter of the world’s total export quotas — decriminalized the possession of small amounts of the drug, and roughly four years since the country legalized medical cannabis. In 2019, Colombia’s Constitutional Court overruled a ban on the public consumption of cannabis, which many considered a stepping stone toward full legalization. Recently, Colombia became one of the first countries in the world to extend national health insurance for patients requiring medical cannabis as a first-line therapy.

Khiron Life Sciences (TSXV:KHRN) was the first firm in Colombia authorized to sell both high and low THC formulations of medical cannabis. The company owns a telehealth platform that has accounted for over 5,600 medical cannabis prescriptions issued to date. Additionally, in June 2020 the company’s Doctor Zerenia telehealth platform was responsible for 14 percent of Khiron’s total medical consultations.

Since becoming the first company to fill medical cannabis prescriptions in Colombia, Khiron reports that 92 percent of its patients have experienced a marked improvement in their primary condition after four months of treatment. In light of these results, the Government of Colombia issued a directive that Khiron’s medical cannabis products and clinic services be covered by the country’s major health insurance providers. While countries such as Germany and the Czech Republic have taken similar legislative actions, a key difference in Colombia is that cannabis is considered a first line therapy with a vast array of applicable medical conditions. With more than 94 percent of Colombia’s population carrying health insurance policies, Colombia is quickly becoming one of the most favourable jurisdictions in the world for patient access; moreover, it has been shown that patient uptake is significantly increased by insurance coverage.

The next step forward for telehealth platforms includes opportunities such as virtual patient education and the fast, reliable delivery of essential drugs such as medical marijuana. Virtual care is also expected to expand across different types of patients, including those requiring intensive care. In the wake of the COVID-19 pandemic, many long-term care facilities have already adapted remote patient monitoring to maintain the safety of staff and patients.

The focus: Accessibility and improving patient outcomes

Medical marijuana has the power to improve patient outcomes across demographics. In the wake of groundbreaking research, patients, physicians and retailers are working together to increase the drug’s accessibility for patients who require relief from a range of health conditions. Telehealth platforms have been instrumental in not only increasing accessibility to medical marijuana, but also in improving quality of life across diverse populations of people.

A recent study completed by Canopy Growth (NASDAQ:CGC,TSX:WEED) in November 2020 found the absence of long-term toxicity despite long-term usage of CBD in a preclinical model, supporting the advancement of recent initiatives aimed at discovering CBD’s full range of therapeutic benefits. While CBD and tetrahydrocannabinol (THC) offer many of the same benefits, high levels of THC are responsible for most of cannabis’s psychoactive effects.

While the chronic pain segment dominated the medical cannabis market in 2019, application toward mental illness is expected to witness the fastest growth over the seven-year forecast period. Worldwide, a growing number of people suffer from depression, anxiety and other debilitating mental conditions with few low-risk pharmaceutical alternatives.

Medical cannabis is also becoming more popular among older adults. A recent study highlighted that cannabis use among individuals aged 65 and older has been steadily increasing, a trend that is consistent with reports from physicians who recommend cannabis in their daily practices. In the face of growing public acceptance and reduced stigma, we are beginning to see an increasing number of older adults rely on cannabis for relief against chronic pain, insomnia, neuropathy, anxiety and other conditions that traditionally call upon pharmaceuticals.

Much of the momentum in the medical cannabis market can be owed to the rise of telehealth platforms and health digitization efforts, increasing ease of access and promoting transparency. Over the next decade, legalization, increased awareness and the rise of remote medicine are expected to facilitate growth, creating lucrative opportunities for market stakeholders.

Takeaway

Telehealth platforms represent one of the easiest ways for patients, providers and retailers to collaborate remotely and fulfill needs faster. As more physicians and policymakers begin to recognize digital health tools as an advantage for maximizing efficiency and safety in health care, existing medical cannabis platforms are well-positioned to take advantage of a large-scale digital transition.

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 BioHarvest Sciences Inc. (CSE: BHSC) (the “Company” or “BioHarvest”) invites its shareholders and the general public to join a Live Video Conference (“Webinar”) on Thursday, January 21st, 2021 at 2:00 PM Eastern Standard Time (11:00 AM Pacific Standard Time). Ilan Sobel, CEO of BHSC, will host the event and discuss progress on Bioharvest’s Growth Plan, which will include highlights of the 2020 milestones achieved, key business capabilities built, and will provide an important overview of 2021 Priorities.

The presentation will be approximately 35 minutes, followed by a live question and answer session.

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