SEATTLE, Feb. 09, 2018 (GLOBE NEWSWIRE) -- CFN Media Group ("CannabisFN"), the leading creative agency and media network dedicated to legal cannabis, announces publication of an article discussing Luminor Medical Technologies Inc. (CSE:LMT), soon to be called RISE Life Science Corp., and its plans to capitalize on California’s burgeoning cannabis industry with a focus on medical grade standardized products, already formulated and ready for market. These products will be sold to the medical consumer, as well as the adult health and wellness recreational consumer. The company believes it has desired products which will start to be sold in Q2 of this year in the California marketplace.
California’s Burgeoning Market
The U.S. cannabis industry is projected to reach $50 billion in size by 2026, according to Cowen & Co., driven by the legalization of medical and adult-use cannabis throughout the country. While several states have legalized the drug, it’s difficult to overstate the impact that California has had on the overall market. Many analysts expect the state to become the single largest legal cannabis market in the world following its decision to legalize adult-use cannabis last year.
There are a handful of publicly-traded companies involved in California’s cannabis industry, but most of them are focused on cultivation and remain in the early stages of development. These companies also face hurdles when it comes to regulatory and compliance issues. Of course, the best opportunities may be those with near-term commercialization opportunities since they’re better equipped to capture market share before the market becomes crowded.
Anton Mattadeen, CEO of Luminor Technologies and co-founder of RISE Life Science, stated, "California represents the largest market expression of the cannabis industry in the world. And it’s a dynamic environment filled with efforts on all sides to build an access culture that works. Even the way the regulatory conditions have evolved has enabled creative ideas to thrive and take hold when they make sense. With our focus on creating products designed to connect to the mainstream consumer we view California as the perfect environment for us to introduce ourselves, generate real revenue in the short term, and enter the global marketplace."
Near-term Commercialization
On February 5, Luminor Medical completed the acquisition of RISE Research Inc., which develops cutting-edge hemp and cannabis consumer products for the medical and adult-use markets. These products are largely focused on adult sexual health and wellness markets. The newly created company is rebranding under the name RISE Life Science.
On January 30, RISE announced a strategic partnership with Constance Therapeutics, a San Francisco-based developer and manufacturer of premium medical cannabis products for physician and patient use in California. Under the deal, RISE Life Science will build and manage a retail sales and distribution channel that management anticipates will go into production as early as the second quarter of this year.
“Through our relationship with Constance Therapeutics we are building a collection of brands designed for the new cannabis consumer; able to meet the needs of traditional cannabis customers, while also appealing to 100% of the adult consumer market. By creating products able to target the wider mainstream marketplace, we are positioning the company for early revenue opportunities and sustained long term growth,” said Mr. Mattadeen.
The company plans on addressing both the medical and adult-use markets, but it only plans on selling THC-based products under license to third parties in the United States until federal laws are changed. As a result, the primary manufacturing and marketing focus will be on cannabidiol (CBD) products derived from the highest quality hemp that’s certified as “U.S. Farm Bill Compliant,” enabling the company to stay completely aligned with U.S. federal laws.
Looking Ahead
Luminor Medical Technologies Inc. (CSE:LMT) represents a compelling investment opportunity in California’s burgeoning cannabis industry. With near-term commercialization plans and a focus on the broader medical market (not just medical marijuana patients), the company enables investors to reap the rewards of the market early on without the regulatory risk of pursuing adult-use cannabis markets directly.
Please follow the link to read the full article: http://www.cannabisfn.com/luminor-medical-rise-life-science-targets-burgeoning-california-cannabis-industry/
For more information, email or call the RISE Life Science investor relations contact, Mark Komonoski. (403) 255-8483 or (877) 255-8483; mark@komonoski.com
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