Cannabis industry token, The CanCoin, will be listed on the KingSwap exchange on 5 October using the ticker $CANNA.
Crypto advisory and blockchain service providers, Technicorum Holdings, and creator of KingSwap, has announced the listing of The CanCoin on the decentralised exchange (DEX), which is developed on DAI Layer-2 technology – allowing for lower transaction fees and faster transaction times.
CanCoin, which aims to resolve friction points in the cannabis industry which affect businesses operating in the sector, has integrated five main technologies, including blockchain, artificial intelligence, smart database, automated incentive tokens and smartphone applications.
Daniel Daboczy, The CanCoin director and CEO at Technicorum Holdings, commented: “We are excited for this next step, where we list the $CANNA token on KingSwap DEX.
“Listing on KingSwap ensures that users will be able to benefit from low transaction fees and fast confirmation times for quick trade execution. The response from the industry has been very positive and the onboarding of companies that will use the $CANNA token as their future currency in their businesses has already started with great results.”
$CANNA, which runs natively on the Binance Smart Chain with BEP-20 and BEP-1155 token standards, will have a total token supply of 420,000,000,000 of which 210,000,000 are currently in circulation.
CanCoin’s listing on further exchanges such as PancakeSwap is expected following 19 October, 2021.
Cannabis beverage market to reach £6.43bn by 2027
Fortune Business Insights says the market will grow at a CAGR of 50.9 per cent from 2020 to 2027.
A new report has projected the cannabis beverage market to reach £6.43bn (USD$8521.6m) by 2027.
The report from Fortune Business Insights, which offers expert corporate analysis and data, has said the market is set to see increasing growth due to the surging popularity of the products.
It noted that the online retail segment is set to dominate and that specialty stores would see greater sales if they display novel products online.
With consumer demand increasingly shifting toward chemical-free and natural trends and moving away from unhealthy consumption habits such as smoking, the report suggests consumers will increasingly move toward novel cannabis products like beverages.
In particular, consumers in Europe and North America are rapidly inclining towards these trends, such as recognisable and herbal formulations, chemical-free, and all-natural cannabis beverages.
However, it highlights that governments of various countries are implementing stringent regulations on the distribution and manufacturing of such THC products – a factor that is likely to hamper the market’s growth in the near future.
Regionally, the sector is set to favour growth in North America, as, since the passing of the 2018 US Farm Bill, the demand for hemp-CBD has surged rapidly, according to the report. It also highlights that Latin America, Oceania, and Asia will exhibit slow growth because of the ban of cannabis beverages in these regions.
Recent developments have seen leading lifestyle brand, Tonino Lamborghini, move into the market through a licensing agreement with The Flora Growth Corp which will see the distribution of CBD beverages in North America and Columbia. Additionally, Canopy Growth Corp is planning to introduce a new range of cannabis beverages into the US to strengthen its position in the sector.
To read the report in full, please visit: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/cannabis-beverages-market-100738
Synbiotic acquires 50.1% of cannabis group in significant merger for Europe
Synbiotic SE has acquired 50.1 per cent of Daniel Kruse’s cannabis group in what it has described as the most significant merger for the European cannabis sector.
Synbiotic SE, the largest listed cannabis company in Europe, has made the acquisition of cannabis industry pioneer Daniel Kruse’s group of companies at a valuation of €11.2m (~£9.53m).
The 50.1 per cent acquisition of Kruse’s companies will see Synbiotic SE securing the subsequent acquisition of the remaining 49.9 per cent by option. With the acquisition of the companies, Hanf Farm, Hempro International, Hemp Factory and MH medical hemp, Synbiotic is raising its sales forecast for 2021 to €15m (~£12.76m).
Synbiotic has said that the addition of the companies will enrich its portfolio with vital infrastructures and profitable brands.
CEO of SynBiotic, Lars Müller, commented: “The co-operation with Daniel Kruse is a genuine accolade in the cannabis sector. SynBiotic SE will benefit massively from what amounts to over half a century of combined know-how gathered by industry pioneers Daniel Kruse and Rafael Dulon.
“So far, the only comparable acquisitions have taken place in Canada. This makes this merger the most significant in the European cannabis sector. I am greatly honoured by the trust Daniel Kruse and Rafael Dulon have displayed in SynBiotic SE; this shows that we are on the right track with our vision.”
Kruse, president of the European Industrial Hemp Association (EIHA) and industry pioneer with more than 25 years of experience in the sector, commented: “After 25 years in the hemp industry, it is a great pleasure and honour for me to have found the right partner for the coming decades with SynBiotic SE. Our decades of experience alongside the supply chain of our group of companies find an excellent complement in the enormous dynamics of SynBiotic SE.
“The appealing nature and charisma of Lars Müller and his team contribute, but it is above all their displaying the highest professionalism and efficiency that has won us over. This combination makes SynBiotic SE the next Unicorn candidate and an ideal partner for me. The European hemp and cannabis market is set to become one of the most exciting and successful industries in the coming years. The challenges yet to be mastered are well known, but the resulting opportunities are unlimited.”
Rafael Dulon, managing director of Hanf Farm, the largest organic hemp farm in Europe, and expert member of the International Institute for Cannabinoids (ICANNA), has also worked in the hemp industry for 25 years. He was awarded the Global Hemp Innovation Award at the World Hemp Congress in 2015 for the development of a hemp harvester.
Dulon stated: “The synergies created for Hanf Farm through its inclusion in the SynBiotic SE Group will lead to significantly faster growth. Within SynBiotic SE’s strong network of people and companies, we will be much better able to implement our ambitious goals in expanding our capacities and competencies as an original agricultural producer and primary processor of hemp.
“I am very pleased that Lars Müller fully supports my ideas for the development of sustainable, organic agriculture. Together, we will use the great potential of hemp in agriculture and market our healthy, climate-friendly products even more vigorously, and as well develop many new products. I look forward to using my many years of experience to help support Lars Müller’s vision.”
Synbiotic is listed on the Frankfurt and Düsseldorf stock exchanges and announced plans to begin listing on the Canadian NEO Exchange in Toronto in October.
First-ever UK EIS and SEIS fund launched for cannabis
An SEIS and EIS fund has been launched in the UK that will target the medical cannabis sector.
For the first time, an Enterprise Investment Scheme (EIS) and Seed Enterprise Investment Scheme (SEIS) fund has been launched in the UK.
Óskare said that the fund will invest in both early-stage UK companies and global companies that have the requisite operations within the UK to provide investors with access to a diversified portfolio of companies in the sector.
The Fund already has a pipeline of deals and will invest in startups across the value chain.
Óskare Capital UK director, Oliver Lamb, commented: “We were motivated to set up the MEDCAN fund with Sapphire Capital Partners LLP given that around 40 per cent of our European dealflow is coming from the UK, and the tax breaks investors can gain through the SEIS and EIS schemes are significant.”
EIS and SEIS are UK government initiative schemes that encourage growth and development by granting private UK investors significant tax breaks when investing in qualifying early-stage companies.
The MEDCAN Fund team will specifically target leading companies in the UK which it considers to have strong IP and which are developing novel therapeutics that target the endocannabinoid system. It will also invest in companies that form part of the wider medical cannabis ecosystem of services and products.
Óskare highlighted the case of UK cannabis company, GW Pharmaceuticals, the producer of the FDA-approved cannabis-based epilepsy medication Epidiolex, which was acquired by Jazz Pharmaceuticals for (USD)$7.2bn.
Óskare Capital UK director, Nicola Broughton, said: “Whilst GW is clearly an excellent example of a UK success story in the sector, we believe that there are opportunities in the market with stronger intellectual property which address far wider ranges of medical conditions that would result in even greater exits.”