Seattle, WA , June 29, 2018 (GLOBE NEWSWIRE) -- CFN Media Group (“CFN Media”), the leading agency and financial media network dedicated to the North American cannabis industry, today announced publication of an article covering Tree of Knowledge Inc., better known as TOK. The company is gearing up to go public on the Canadian Stock Exchange (CSE). The company has made an application for listing on the Canadian Securities Exchange, through a reverse merger with Courtland Capital Inc., and is subject to exchange approval. The deal would provide investors with exposure to a leading cannabidiol (“CBD”) brand with high quality products on three continents. In addition, the company plans on partnering with one or more licensed producers in Canada to provide raw materials and exposure to the Canadian market.
“The decision to move forward with Courtland Capital was a logical step in our process of becoming a leader in the medical cannabis industry,” said TOK Chairman Michael Caridi in the press release announcing the reverse merger agreement. “TOK as a company is aware of the magnitude of this market and, with the additional resources, will be able to mature and expand our reach into the markets we are in and plan on entering.”
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TOK was founded in 2015 by a world class team of medical and business professionals to create a trusted line of CBD products. Over the past three years, the company has built an advisory board consisting of leaders across sectors ranging from medicine to professional sports, received approval across three continents, and rapidly grown its EVRCBD brand that includes CBD oils, tinctures, capsules, and vape pens produced under the highest standards.
Growing Market for Premium CBD
Cannabidiol, or CBD, is one of the hundreds of cannabinoids found in the cannabis plant, but it is arguably the most promising medical compound in the plant. There have been hundreds of studies demonstrating the potential for CBD to help anxiety disorders, chronic pain, neurodegenerative diseases, and other conditions. Since its non-psychoactive, CBD is also more readily accepted than its psychoactive cousin, tetrahydrocannabinol (“THC”).
The Hemp Business Journal projects that the CBD market will grow from just a couple hundred million dollars in recent years to more than $2.1 billion per year by 2020, while Greenwave Advisors’ Matt Karnes believes that the market could hit $3 billion by 2021. These growth rates make it one of the fastest growing subsets of the cannabis industry and a compelling opportunity for companies and investors in the space.
Importantly, in the US, the company sources its CBD from USDA approved organically grown, vegan, non-GMO industrial hemp. This provides the company with a certain amount of protection from prosecution due to the legal status of industrial hemp in the U.S. In Canada and Europe, leaders have already begun to emerge in the cannabis cultivation space, but the CBD industry is much more fragmented. Most companies are regional and only focused on particular states or countries. By contrast, TOK is building an international brand using the highest quality ingredients while helping healthcare practitioners and their patients ensure that they’re using the right products and dosing to maximize results.
Entry into Canada’s Established Market
There’s no doubt that Canada has become -- and will remain -- the leader in the legal cannabis industry worldwide. As the first G7 nation to fully legalize cannabis, it has already minted some of the largest companies in the industry worth billions of dollars. Its Access to Cannabis for Medical Purposes Regulations (ACMPR) have also become the de-facto standard when it comes to testing quality assurance.
The country’s cannabis industry is projected to reach C$22.6 billion over the coming years, according to Deloitte, driven by the legalization of adult-use cannabis later this year. With adult-use cannabis becoming legal in October of this year, some analysts are projecting that there could be a production shortfall with just around 100 licensed producers throughout the country -- a development that could translate to higher margins for cultivators.
TOK plans to enter the market through partnering with one or more licensed producers over the coming year. In addition to capturing a piece of the market, the move would provide the company with the raw materials for its existing product lines. This could help reduce its input costs and enhance its profit margins, while opening the door to new revenue opportunities from the wider cannabis industry over the long-term.
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Looking Ahead
The company is in the late stages of its application for listing on the Canadian Stock Exchange (CSE) and expects to close the reverse merger with Courtland Capital in the next few days. The company plans to conduct a private placement to raise $7 million in conjunction with the going public transaction. Investors may want to take a closer look at the stock given its strong market position, significant growth opportunities, and experienced management team.
For more information, visit the company’s website at www.evrcbd.com.
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