December 26, 2018 -- NEW YORK, NY / ACCESSWIRE -- Stock Market Press (SMP) sees a major shift towards acquisitions in the cannabis space and highlights Metrospaces, Inc., which today announced the acquisition of a profitable ($4.5 million annually) licensed California cannabis facility. In addition, the market has seen Altria and Cronos, Tilray and Anheuser-Busch execute on acquisitions in the cannabis space. SMP is watching additional companies in the cannabis space, including Aurora, for potential partnerships and/or acquisitions.
Mr. Oscar Brito, Metrospaces Company Executive President, is taking full advantage of the emerging real estate-cannabis market place with an acquisition of an existing, revenue producing facility. Generating over $7 million annually, the 6.5-acre site houses a 12,000-sq.-ft. canopy and is licensed for an additional 8,000-sq.-ft. canopy facility. The acquisition fits squarely within Mr. Brito's business plans to acquire key real estate properties ahead of the next big cannabis wave.
As seen over the past few weeks, companies like Altria, are making major moves in the industry. The acquisition of a 45-percent stake in Cronos highlights why Mr. Brito's business plan is focused on real estate cannabis acquisitions. Conversion of farmland and other properties into cannabis growing facilities is set to explode in 2019.
Tilray is solely focused on the Canadian market in the Anheuser-Busch deal. In an article on MarketWatch: "For us, it's early days in this industry, and research feels like the right place to start," Tilray Chief Executive Brendan Kennedy said in a telephone interview. While a company like Tilray is focused on research, Metrospaces on the other hand is lining up real estate acquisitions.
The marketplace rarely sees such an opportunity as the real estate-cannabis combo is providing. Because of advances in hydroponics and canopy growing, cannabis can be grown virtually year-round in most any climate. Legalization continues to spread across the U.S., providing a company like Metrospaces the opportunity to gain significant ground.
At the same time, Canadian suppliers were unprepared for the demand of Cannabis when it was legalized nationwide in October. "MarketWatch talked to officials and retailers in eight of Canada's 10 provinces, and all said they are receiving only small portions of the product they have ordered. One of the provinces, British Columbia, said supply issues aren't expected to be resolved for six to 18 months, based on discussions with licensed pot producers." wrote Max Cherney of MarketWatch.
The U.S. federal government is on the cusp of a cannabis regulations change as states continue to ease their own laws. The passage of the Farm Bill, with provisions for hemp legalization, is only a teaser for whats to come when cannabis regulations are relaxed
Discussing the recently announced acquisition, Mr Brito stated, "This acquisition would introduce us in the cannabis industry through the front door. It's a very neatly run operation, with substantial upside potential. We think it's the perfect operation for us to focus after our very positive experience in IQSTel [now public, trading on the OTC]."