Here's yet more research from yesterday giving CGB managements direction a big thumbs up! Another TOP 5 position! its becoming a regular thing in the media for CGB.

Signs for Cannabis 2.0; 5 Players on ASX – THC, AC8, CAN, CGB and MXC

Legalisation of Cannabis in Australia

In Australia, Narcotic Drugs Amendment Act provided a green signal to legally grow cannabis for medicinal use within Australia in February 2016, with a total of 69 licences issued for production, cultivation and manufacturing including-

• 24 licenses for the cultivation of cannabis for medicinal purpose
• 16 licenses for the cultivation of cannabis for research purpose
• 23 licences for the manufacturing of medicinal cannabis products

The overseas distribution of cannabis got legalised by the Government in January 2018.

Australian Medicinal Cannabis Market

Australian medicinal cannabis market is perhaps the most precipitously blooming sector globally which is presently valued at $17.7 million, and likely to generate $1.2 billion in the next 5 years. In fact, it is possible that it could be worth $3 billion by 2028. Australian Capital Territory (ACT), became the 1^st ever Australian region to approve the new cannabis law legalising cannabis for recreational possession and cultivation, after raising a lot of eyebrows.

The Australian Capital – Canberra became Australia’s first city to legalise the cannabis recreational possession and cultivation in September 2019.

Although there are some conjectures and worries, it is for certain, that the Australian cannabis space is positioned well to grow and reap benefits in future.

CANN Global Limited (ASX: CGB)

Cann Global, despite several substantial hurdles and challenges, including supply constraints, and an extended period of unfavourable weather conditions, achieved significant milestones in last one year and achieved $1.089 million in consolidated revenues prior to its relisting on ASX.

Cann Global is pursuing a strategy of diversification to flourish its business model by establishing an ecosystem of hemp seed farming suppliers. Within Australia, the company is building its production, manufacturing & product selling facility and on a global level by addressing head-on, existing challenges and hurdles confronting the global cannabis and hemp seed markets.

Full story here https://tinyurl.com/sd6toa8