Projected Annual Cannabis Users by Region (thousands)
226
If you noticed the stock tickers listed earlier on, you will see that Cannabix is trading on the CSE, OTC, and very interestingly, the Frankfurt Exchange in Germany. According to a recent Forbes article, the Green Party and the Free Democratic Party continue their talks on forming a coalition government in Germany. Part of their discussions include an agreement on fully legalizing marijuana and selling the drug through pharmacies or licensed dispensaries. As reported in my article back in the July/August issue of CannaInvestor Magazine Canada, the legal German cannabis sector is in its infancy. The potential, however, is huge. Population in Germany is approximately 81 million, more than double than that of Canada, and is ranked 18th in the world, and largest in the European Union.
North America still has the largest share of this market at over 50%, but growth opportunities in Europe are significant, as driving laws lag those in the West. According to a Globe Newswire report, Zion Market Research estimates demand to reach $1.6 billion globally, growing at a CAGR of 25% in the next 5 years. That is a lot of breathalyzers.
Cannabix share price has been fairly steady, hovering between $0.60 and $0.70 for the past year, on average. However, since the recently announced Beta 3.0 trial progress and patent application update, share price has spiked to as high as $0.90 on November 8th.