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Northern Vine Labs Combines the Best of Abattis and Emerald Health -- CFN Media
Northern Vine Labs Combines the Best of Abattis and Emerald Health -- CFN Media.
About this update from Abattis Bioceuticals Corp
[{"type":"text","content":"\n \n \n Northern Vine Labs Combines the Best of Abattis and Emerald Health -- CFN Media\n \n \nNorthern Vine Labs Combines the Best of Abattis and Emerald Health -- CFN Media\n \n SEATTLE, WA--(Marketwired - Nov 22, 2017) - CFN Media Group (\"CannabisFN\"), the leading creative agency and media network dedicated to legal cannabis, announces publication of an article covering the partnership between Abattis Bioceuticals Corp. (CSE: ATT) (CNSX: ATT) (CNSX: ATT.CN) (OTCQB: ATTBF) and Emerald Health Therapeutics Inc. (TSX VENTURE: EMH) (OTCQX: EMHTF) to run Northern Vine Laboratories as a joint venture, which promises to take advantage of a growing market for lab testing and extract products.\n Canada's Testing Market\n Canada's legal cannabis industry is projected to reach up to $22.6 billion in size, according to Deloitte, driven by the legalization of recreational cannabis next year. While the base market accounts for up to $8.7 billion of that figure, the remainder of the annual revenue is expected to come from growers, infused product makers, security, and testing labs. Markets and Markets expects the cannabis testing industry to be worth $1.5 billion by 2021.\n According to Health Canada, there are just 33 laboratories licensed to conduct activities with cannabis compared to more than 70 licensed producers. Third party lab testing isn't currently required by Health Canada, but the agency has already required 'expanded' testing for licensed producers to ensure that pesticide and additive requirements are being met. The ongoing recall issue could lead to eventual requirements for third party testing to eliminate obvious conflicts of interest.\n Deloitte expects consumer cannabis demand to be at least 600,000 kilograms per year, which exceeds the capacity of licensed producers. As production scales up, the demand for cannabis testing services is expected to see a sharp increase. There are already anecdotal reports of cannabis testing activity holding up the release of product onto the market - a development that could become much worse next year after recreational legalization goes into effect.\n Cannabis Oils and Extracts\n While many observers and investors have typically thought of the cannabis market as being about cannabis flower, cannabis extracts represent the fastest growing subset of the industry. Health Canada dat...