The Cannabis Bonanza has Just Begun - Seite 2

The global legal marijuana market, valued at $9.3 billion in 2016, is expected to reach $146.4 billion by the end of 2025, an incredible 16-fold increase over nine years. Legal cannabis markets are still a relatively new phenomenon, and the market is nowhere near its total sales potential. An estimated 272 million global consumers use cannabis, equivalent to only about 4% of the world's population. Growth trajectory is virtually vertical. Perhaps nowhere is this hyper-growth more spectacular than North America. Wall Street's top cannabis analyst forecasts the U.S. market to grow to $80 billion by 2030 assuming national availability.

B.C. Center of Boom

Cannabis demand is even greater north of the border. The industry has been struggling with cannabis supply shortages ever since recreational cannabis was legalized across Canada. The country's westernmost province, British Columbia, is no exception. The B.C. market registered a little over CA$19 million in legal cannabis sales in 2018, but that number is expected to explode to CA$722 million in annual sales by 2024 — a mind-boggling 37-fold increase over six years.

Pegged to soar nearly 3,700% in the next six years, British Columbia is ground zero for cannabis growth. Headquartered at the epicenter of this upsurge, Wildflower Brands Inc. (OTCQB:WLDFF) (CSE:SUN) has already staked out an enviable market position and is further expanding its retail footprint and product distribution in the province. The company recently announced that it intends to acquire City Cannabis Corp. in an all-stock deal.

Holding two of the three City of Vancouver licenses to sell cannabis, City Cannabis is a premier cannabis retailer and the only company with multiple licenses in British Columbia. The Letter of Intent looks to solidify Wildflower's position as a high-profile retail outlet of premium brands generating millions in revenues right in the heart of the B.C. cannabis boom.

"City Cannabis and Wildflower are the perfect combination of premier products and a premier consumer retail experience," said Wildflower CEO William MacLean. "City Cannabis' retail consumer data and insight will help shape development of Wildflower's product line-up while the retail expertise of City Cannabis will aid Wildflower in its retail expansion. The combination of Wildflower and City Cannabis will form a truly global cannabis company."