Every indexed document

we are starting to see closer price parity between state-legal and illegal markets

an examination of the price per gram of cannabis flower

but not in the United States.) If the FDA approves Epidiolex

and has been approved for use in at least

but has never approved a drug derived from the cannabis plant. In October 2017

we expect a significant influx of cannabis brands that will aggressively compete for limited

because numerous product categories have low barriers

vaporizing technology and cannabis-derived pharmaceutical products will drive

we see an opportunity for cannabis dispensaries

companies have responded to these demands with

allowing them to raise significant amounts of capital and to pursue domestic and

companies operating legally within the industry have had a clear “first to

and we believe that the implementation of the Cannabis Act would significantly

Canada would be the largest country in the world to legalize recreational cannabis

estimated at $1.5 billion in 2017. In April 2017

it is currently the largest federally legal cannabis

for recreational enjoyment by adults and for use

across all state medical cannabis laws in the United States

and we are happy to provide our insights.

000 companies in the cannabis industry. We understand the opportunities