- Industry analysts project the cannabis market will reach $80 billion over the next decade
- LVVV philosophy supports momentum of this new, promising industry
- LiveWire particularly optimistic about company’s acquisition of Estrella Ranch property; beginning operation of first-ever estate-grown ‘Weedery’ soon
Despite a significant slowdown in the cannabis sector in the past year, LiveWire Ergogenics Inc. (OTC: LVVV) expects to perform well moving forward into 2020 as experts predict the industry will pick up. As operating ineffectively – and even illegally – are being weeded out and the industry grows, LVVV’s commitment to “doing things right,” combined with its innovative business strategy for high-quality and hand-crafted cannabis products (quality versus quantity), bodes well for the company’s future.
According to a recent AP article, industry analysts project the market for cannabis products will grow to $80 billion over the next decade (http://ibn.fm/EFYKA). The article quoted Canaccord Genuity analyst Bobby Burleson, who noted that he expects cannabis retail sales in legal U.S. state markets will climb from an estimated $12.9 billion this year to $31.3 billion already in 2024. That forecast includes projections for sales in Illinois, which will begin allowing legal cannabis sales next month, and Michigan, which began doing so this week. It also assumes that Arizona, Florida and New York will pass adult-use cannabis laws within the next five years.
Burleson isn’t the only expert feeling bullish. The article also reported that “analysts at Cowen raised their sales forecast for the U.S. cannabis market over the next 10 years, citing higher levels of use among older consumers and improved public sentiment for legalization. Cowen projects sales to hit $85 billion by 2030. It previously called for sales to reach $80 billion. The forecast also anticipates the opening of more dispensaries, the rollout of new types of cannabis products and more overall demand.”
With the projected upswing in mind, LiveWire Ergogenics expects to be in a prime position to leverage the expected growth with the imminent start of production at its Estrella Ranch Weedery. “The cannabis market is ever-changing and complex,” LiveWire CEO Bill Hodson stated in a news release (http://ibn.fm/C3i1k). “While a flood of investment has entered the market over the last two years based on overly optimistic projections, questionable market analysis and unproven business models, these expectations are now being hit by the reality of a still unconventional business, complicated by the typical growing pains of a rapidly emerging new industry.
“With the industry now set to explode, companies must begin scrutinizing their operations for inefficiencies and evaluate what works and what doesn’t,” he continued. “In other words, ‘doing it right,’ a principle that LiveWire has been trying to follow strictly for the last two years, supporting the momentum of this new and promising industry.
Part of LVVV’s “doing it right” approach includes diligent and painstaking research as the company has secured, designed and established two fully compliant and permitted cannabis operations California. The company is focused on identifying and acquiring compliant properties for cannabis operations and entering into operation agreements and strategic alliances to build teams of carefully selected and vetted operators, horticulturists, extractors, and distributors as well as establish research partnerships in the human and veterinarian sectors. In addition, LVVV officials are particularly optimistic about the company’s acquisition of the 450-acre Estrella Ranch property in Paso Robles, California. The company plans to transform the stunning property into the world’s first “estate-grown weedery,” including essential cannabis cultivation, manufacturing and research facilities.
“We know consumers will appreciate the family-farm style of locally produced artisanal and handcrafted cannabis products, and that’s why we support the appellation model to establish designations-of-origin, similar to the wine industry, as our strategy to create a unique, profitable and sustainable business,” Hodson said in a news release (http://ibn.fm/nAfrg). “Setting up a central hub for our operations at the Ranch in Paso Robles in the heart of California wine country, and ‘doing it right,’ has required extensive environmental research and compliance with complex legal requirements on a local and state basis, which we have now concluded.
“Despite this very involved and resource-intense process, we have begun generating modest revenue over the last two quarters and have improved our balance sheet considerably,” he noted. “We are not only accelerating the build-out of our Estrella Weedery but also taking aggressive measures to increase revenue throughout the company, while being very conscious about economical use of working capital, improving our asset base, keeping our overhead low and staying focused on return of investment for our family of investors.”
LiveWire Ergogenics specializes in identifying and monetizing current and future trends in the health and wellness industry. The company is focused on becoming one of the first truly vertically integrated and high-end cannabis companies in California.
For more information, visit the company’s website at www.LiveWireErgogenics.com
NOTE TO INVESTORS: The latest news and updates relating to LVVV are available in the company’s newsroom at http://ibn.fm/LVVV
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