- Industry
analysts project the cannabis market will reach $80 billion over the next
decade
- LVVV
philosophy supports momentum of this new, promising industry
- LiveWire
particularly optimistic about company’s acquisition of Estrella Ranch
property; beginning operation of first-ever estate-grown ‘Weedery’ soon
Despite a significant slowdown in the cannabis sector in the
past year, LiveWire Ergogenics Inc. (OTC: LVVV) expects to perform
well moving forward into 2020 as experts predict the industry will pick up. As
operating ineffectively – and even illegally – are being weeded out and the
industry grows, LVVV’s commitment to “doing things right,” combined with its
innovative business strategy for high-quality and hand-crafted cannabis
products (quality versus quantity), bodes well for the company’s future.
According to a recent AP article, industry analysts project
the market for cannabis products will grow to $80 billion over the next
decade (http://ibn.fm/EFYKA).
The article quoted Canaccord Genuity analyst Bobby Burleson, who noted that he
expects cannabis retail sales in legal U.S. state markets will climb from an
estimated $12.9 billion this year to $31.3 billion already in 2024. That
forecast includes projections for sales in Illinois, which will begin allowing
legal cannabis sales next month, and Michigan, which began doing so this week.
It also assumes that Arizona, Florida and New York will pass adult-use cannabis
laws within the next five years.
Burleson isn’t the only expert feeling bullish. The article
also reported that “analysts at Cowen raised their sales forecast for the U.S.
cannabis market over the next 10 years, citing higher levels of use among older
consumers and improved public sentiment for legalization. Cowen projects sales
to hit $85 billion by 2030. It previously called for sales to reach $80
billion. The forecast also anticipates the opening of more dispensaries, the
rollout of new types of cannabis products and more overall demand.”
With the projected upswing in mind, LiveWire Ergogenics
expects to be in a prime position to leverage the expected growth with the
imminent start of production at its Estrella Ranch Weedery. “The cannabis
market is ever-changing and complex,” LiveWire CEO Bill Hodson stated in a news
release (http://ibn.fm/C3i1k).
“While a flood of investment has entered the market over the last two years
based on overly optimistic projections, questionable market analysis and
unproven business models, these expectations are now being hit by the reality
of a still unconventional business, complicated by the typical growing pains of
a rapidly emerging new industry.
“With the industry now set to explode, companies must begin
scrutinizing their operations for inefficiencies and evaluate what works and
what doesn’t,” he continued. “In other words, ‘doing it right,’ a principle
that LiveWire has been trying to follow strictly for the last two years,
supporting the momentum of this new and promising industry.
Part of LVVV’s “doing it right” approach includes diligent
and painstaking research as the company has secured, designed and established
two fully compliant and permitted cannabis operations California. The company
is focused on identifying and acquiring compliant properties for cannabis
operations and entering into operation agreements and strategic alliances to
build teams of carefully selected and vetted operators, horticulturists,
extractors, and distributors as well as establish research partnerships in the
human and veterinarian sectors. In addition, LVVV officials are particularly
optimistic about the company’s acquisition of the 450-acre Estrella Ranch
property in Paso Robles, California. The company plans to transform the
stunning property into the world’s first “estate-grown weedery,” including
essential cannabis cultivation, manufacturing and research facilities.
“We know consumers will appreciate the family-farm style of
locally produced artisanal and handcrafted cannabis products, and that’s why we
support the appellation model to establish designations-of-origin, similar to
the wine industry, as our strategy to create a unique, profitable and
sustainable business,” Hodson said in a news release (http://ibn.fm/nAfrg). “Setting up
a central hub for our operations at the Ranch in Paso Robles in the heart of
California wine country, and ‘doing it right,’ has required extensive
environmental research and compliance with complex legal requirements on a
local and state basis, which we have now concluded.
“Despite this very involved and
resource-intense process, we have begun generating modest revenue over the
last two quarters and have improved our balance sheet considerably,” he noted.
“We are not only accelerating the build-out of our Estrella Weedery but also
taking aggressive measures to increase revenue throughout the company, while
being very conscious about economical use of working capital, improving our
asset base, keeping our overhead low and staying focused on return of investment
for our family of investors.”
LiveWire Ergogenics specializes in identifying and
monetizing current and future trends in the health and wellness industry. The
company is focused on becoming one of the first truly vertically integrated and
high-end cannabis companies in California.
For more information, visit the company’s website at www.LiveWireErgogenics.com
NOTE TO INVESTORS: The latest news and updates
relating to LVVV are available in the company’s newsroom at http://ibn.fm/LVVV
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