The Canadian Medical Marijuana Industry Poised For Rapid Growth.
Health Canada has received 920 applications since June 14, 2013, from companies that want to be licensed producers of medical marijuana under its new regulations.
The federal department has approved only 20 licensed producers of medical marijuana, including 13 that currently sell to the public.
In this video by the Globe And Mail we see them explaining how the medical marijuana industry in Canada took on a rapid change, effective April.1.2014 medical marijuana patients who where licensed to grow medical marijuana at home would no longer be allowed to do so, they would only be allowed to purchase it from one of the large scale marijuana producers approved by the Federal government. This effectively could create a large scale medical marijuana industry in Canada.
In this video by the Glode And Mail it shows a Medical Marijuana conference in Canada.
In this article titled "Medical marijuana producers attempting to woo doctors" It states that growers are attempting to lobby doctors to the benefits of medical marijuana in a attempt for them to prescribe marijuana to their patients in the same manner the pharmaceutical industry conducts its promotional efforts.
Francescutti said some of Canada’s 13 licensed marijuana producers are operating in the same way that pharmaceutical companies do.
“They’ve got product they have to move. So they’ve hired the best advertising firms,” he said. “Now, they’ve got very professional, well-dressed men and women knocking on doctors’ offices.”
We here at Penny Stock Whispers believe these are signs of a new marijuana trend in Canada.
In conclusion, the Canadian medical industry is a undiscovered titan! There aren't many marijuana growers that are licensed in Canada but the ones that do have them could be poised in making bigr revenues since they're one of the few that are allowed to conduct the marijuana growers operations. We believe IDGC is a undiscovered gem and the price per share could reach anywhere between the 3-5 cent range. As recent news for IDGC stated they plan to construct 20,000 sq.ft. facility which indicated to us a huge operation is about to be launched.
IDGC recent news
ID Global Corporation Retains Securities Counselors, Inc. as Corporate Counsel
CHICAGO, July 22, 2014 (GLOBE NEWSWIRE) — ID Global Corp. (OTC:IDGC) is pleased to announce that it has retained Securities Counselors, Inc. (SCI), a law firm specializing in securities law, with a focus on OTC companies, to handle all corporate legal needs as well as to assist in asset recovery of current portfolio companies and help navigate the legal maze of the medical marijuana industry.
ID Global Corporation Signs Letter of Intent With Established Medical Marijuana Grower
CHICAGO, July 23, 2014 (GLOBE NEWSWIRE) — ID Global Corp. (OTC:IDGC) is pleased to announce that it has signed a Letter of Intent (LOI) today to begin the due diligence process with an established Medical Marijuana grower in Vancouver BC, Canada. The company has been growing Medical Marijuana for 5 years. They currently own and operate multiple grow operations throughout British Columbia. They have production capabilities to service thousands of clients with the ability to expand rapidly. Management knowledge and expertise in the Marijuana industry has shown steady growth in their operations since inception. Due to the covenants of the LOI the company name cannot be released until the due diligence period is complete.
Sebastien DuFort, president and CEO stated "We have been carefully seeking a way to enter the industry. With legalization happening in multiple markets we wanted to partner with an established outfit to be part of this huge opportunity. The slated growth for Medical Marijuana is enormous and we feel this would position IDGC to become an industry leader."
UPDATED: ID Global Corporation Signs Letter of Intent With Established Medical Marijuana Grower
CHICAGO, July 24, 2014 (GLOBE NEWSWIRE) — ID Global Corp. (OTC:IDGC) is pleased to provide an update pursuant to the execution of the LOI announced on July 23, 2014.
The letter of intent is at least partially binding and subject to due-diligence. However, the following covenants are binding legal obligations and are not subject to due diligence:
- $20,000 Deposit to be provided by IDGC for a 5-acre parcel of land with plans to construct a 20,000 sq. ft. facility.
- IDGC shall have access to, and have an unrestricted right to use otherwise confidential information of this established Medical Marijuana grower in Vancouver BC, Canada, consisting of intellectual property rights, related to but not limited to the growing of marijuana in a highly efficacious manner, as illustrated in its current business plan and to be further developed by IDGC, coupled with the potential filing of an S-1 for this marijuana grower.
Map of Current Medical Marijuana Grow Operations In Canada.
Projected the number of potential medical marijuana users
According to the Canada Gazette, Health Canada projected the number of potential medical marijuana users to be 57,799 in 2014 to about 433 688 in 2024.
Under the new medical marijuana rules, patients must be prescribed cannabis from a medical doctor or nurse and buy their pot from any of the licensed producers
Chart Analysis of IDGC