TORONTO, Sept. 10, 2019 /CNW/ – EuroLife Brands (“EuroLife” or the “Company”) (CSE: EURO) (Frankfurt: 3CM) (OTCPK: CANVF), a leading global markets cannabis brand empowering the medical, recreational and CPG cannabis industry worldwide is pleased to announce its first international cannabis education offering for the German market, the biggest international medical cannabis market outside of North America; one that is expected to grow to $2.7 billion by 2023 according to research by the Brightfield Group.
“Germany is the first of many European markets in which we will be expanding our platforms, as that market, with a population of over 80 million is a key catalyst for our strategic revenue growth in 2020,” said Shawn Moniz, Chief Executive Officer, EuroLife Brands Inc. “We planned for the inclusion of additional language sets in the Cannvas suite of platforms with the goal of expanding into key markets and look forward to adding many more languages as we continue to deliver evidence-based cannabis education to the world.”
According to the Brightfield Group, a leading predictive analytics and market research firm for the legal CBD and cannabis industries, Germany’s medical cannabis market totaled $73 million in 2018 but is expected to blossom to $2.7 billion by 2023. They forecast Germany’s CBD market to be Europe’s biggest with nearly $605 million in sales, an exponential increase from Germany’s estimated CBD sales of approximately $38 million in 2018. Arcview Market Research and BDS Analytics project cannabis sales in Germany to reach close to $1.6 billion in 2022, with more than 691,000 legal consumers in the country.
With over 365,000 physicians, 2,200 hospitals and thousands of clinics, Germany is becoming a leading European Union member in the emerging international cannabis industry. Patient numbers are growing at a brisk rate and cannabis product uptake has been robust across the country, which is lacking product information, education and knowledge. EuroLife has recognized this as an opportunity to make a positive impact for patients and establish first-mover advantage into this significant cannabis marketplace. Brightfield Group estimates Europe’s legal medical cannabis sales in 2018 totaled approximately $316 million, however the market is projected to grow by a sizzling compound annual growth rate (CAGR) of 83% and reach nearly $8 billion by 2023.
Globally accessible at Cannvas.de, the German platform mirrors Cannvas.Me and offers the same physician-backed and educator-approved cannabis articles and learning modules for all audiences curious to learn the potential benefits of health care through cannabis. The platform also uses the same machine-learning algorithms and artificial intelligence (AI) to contextualize and adapt to its users and deliver timely and relevant information based on user behaviours and interests.
About EuroLife Brands Inc.
EuroLife Brands (CSE: EURO) (Frankfurt: 3CM) (OTCPK: CANVF) is a leading global markets cannabis brand empowering the medical, recreational and CPG cannabis industry worldwide through a data-driven CBD marketplace supported by exclusive and unbiased physician-backed cannabis education and detailed consumer analytics.
No stock exchange or securities regulatory authority has reviewed or accepted responsibility for the adequacy or accuracy of this release.
Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Issuer’s future plans, objectives or goals, including words to the effect that the Issuer or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company’s Management’s Discussion and Analysis and other disclosure filings with Canadian securities regulators, which are posted on www.sedar.com.
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