- Company is carving out a niche in a burgeoning market
- Canada’s oil extraction market projected to reach $1.5 billion by 2020
- Impending blanket legalization has poised Canada’s marijuana market for explosive growth
The legal marijuana industry is growing by leaps and bounds in North America—particularly in Canada, where medical cannabis has been nationally legal since 2001 and where Canada’s government has now introduced sweeping legislation aimed at making recreational marijuana use legal by July 2018. Canada-based Algae Dynamics Corp. (OTCQB: ADYNF) is among the cannabis stocks preparing to cash in on the influx of business that is sure to follow such an event.
Algae Dynamics is focused on cannabis oil extraction and medicine delivery systems, endeavoring to offer medical cannabis users a means of enjoying the benefits of medical marijuana without smoking. The company is preparing to exploit a niche market with its development of unique health products and pharmaceuticals utilizing hemp, cannabis and algae oils.
If recreational cannabis is successfully legalized on a national scale, Canada’s market for oil extraction is projected to grow to C$1.5 billion by 2020. In Colorado, 45 percent of cannabis consumers who use dried marijuana have said they would eventually switch over to marijuana extracts and oil, and a similar conversion rate is anticipated for Canada’s market. In view of this, Algae Dynamics is extremely well-positioned for success.
Algae Dynamics has engaged two premier universities to perform research into the various uses of cannabis and hemp oil extracts. In combination with other compounds, cannabis and hemp oil extracts could prove effective in the treatment of colorectal, pancreatic, breast and prostate cancers, as well as in the development of novel pharmacotherapies to treat various mental health conditions.
Algae Dynamics is poised for great success in Canada’s favorable cannabis environment. The legal status of medical marijuana has already positioned the company for profitability, and the impending legalization of recreational marijuana is likely to take Algae Dynamics even further.
For more information, visit the company’s website at www.AlgaeDynamics.com
More from CannabisNewsWire
CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.
For more information please visit https://www.CannabisNewsWire.com