NEW YORK, July 10, 2018 /PRNewswire/ --

Recent data published by Grand View Research, Inc., indicates that the global legal cannabis market is projected to reach USD 146.4 Billion by end of 2025. The increasing acceptance of cannabis medical remedies for afflictions such as cancer, mental disorders, chronic pain, among others, is expected to boost revenue growth in the near future. The report also specifies that large public and private investments for the research and development of safer consumption methods of cannabis products such as tinctures, oils, vapes and edibles, are anticipated to positively strengthen market growth rates. Tidal Royalty Corp. (CSE: RLTY.U), Abattis Bioceuticals Corp. (OTC: ATTBF), Golden Leaf Holdings Ltd. (OTC: GLDFF), NightFood Holdings, Inc. (OTC: NGTF), MassRoots, Inc. (OTC: MSRT)

Citing a report from Deloitte, nearly two-thirds of current cannabis consumers are likely to buy cannabis products from a legal channel. Jennifer Lee, Partner, Cannabis National Leader, and Consumer Advisory and Analytics Practice National Leader, said, "Most current and likely cannabis consumers want a variety of products offered at reasonable prices from suppliers who can vouch for the safety and origin of those products. Cannabis companies will need to have secure supply chains to protect the quality and integrity of their products, and retailers will need to meet consumer expectations, including providing a positive, engaging retailing experience and protecting the privacy of their customers, especially online."

Tidal Royalty Corp. (CSE: RLTY.U) announced breaking news yesterday that it, "has entered into a Letter of Intent ('LOI') as of July 8th, 2018, with an established licensed operator based in Las Vegas, Nevada (referred to as the 'Nevada Cannabis Company') to finance the expansion of the company's operations in the state.

The Nevada Cannabis Company is led by a seasoned management team with experience in the cannabis industry, as well as deep ties to the music industry. As part of the transaction, the Company will implement a newly-developed cultivation technology that will effectively double the available cultivation canopy (from 20,000 sq. ft. to 40,000 sq. ft.) in its central Las Vegas facility. The Nevada Cannabis Company distributes its products through its wholly-owned dispensary in Las Vegas, as well as through a network of 3rd party dispensaries throughout Nevada.

Pursuant to the LOI, Tidal Royalty will provide the Nevada Cannabis Company with up to US USD 15 M to finance the Company's expansion plans and to establish a new processing facility that will enable it to bring a broader range of products to market. In return, the Nevada Cannabis Company will pay Tidal Royalty 15% of net sales generated by all operations in Nevada in perpetuity. This includes both net sales generated from existing cultivation and dispensary sales, as well as incremental sales generated by the planned expansion.

"We are excited to announce this LOI," said Paul Rosen, CEO & Chairman of Tidal Royalty. "The combination of existing profitable operations, marketing expertise, sophisticated cultivation technology and a proven ability to win market share gives us great confidence that this company will experience continued growth and success in one of the largest cannabis markets in the US and the world. It is an archetypical company that we look to support with our innovative financing model, and it stands to benefit significantly from Tidal Royalty's financial support."

With over 40 M tourists visiting the state each year - in addition to a population of 3 M - Nevada has the potential to be one of the largest adult-use markets in the US. According to Marijuana Business Daily, the state's adult-use market is expected to grow to USD 600 M by the end of 2018. The vast majority of that revenue is expected to be generated in Las Vegas.

The LOI includes an exclusivity period during which the Nevada Cannabis Company will not negotiate with any other party. It further provides Tidal Royalty with a right of first refusal on any future financing with respect to the company or any of its affiliates. Closing of the transaction contemplated by the LOI is subject to, among other things, the satisfactory completion of Tidal Royalty's diligence investigation, which is currently underway. Tidal Royalty expects to announce further details in respect to the contemplated transaction with the Nevada Cannabis Company upon the execution of a definitive agreement between the parties and the receipt of necessary regulatory approvals.

This is the 3rd letter of intent that Tidal Royalty has announced in the past 2 weeks. With this LOI, the Company has entered into letters of intent for expansion projects in California, Nevada and Massachusetts. In addition, Tidal Royalty is in the process of evaluating multiple additional opportunities across the U.S., including in California, Florida, Arizona, Ohio, Michigan, New York and Nevada. Tidal Royalty intends to provide further information on those discussions when the parties reach an agreement and execute an LOI.

Tidal Royalty has raised approximately USD 40 M to date by way of private placements, which it intends to use primarily for royalty financings and for general corporate purposes. The Company was founded by experienced cannabis industry executives and provides expansion financing to licensed U.S. operators across multiple verticals, including cultivation, processing and manufacturing, dispensing, and ancillary services. Tidal Royalty directs interested stakeholders to visit its website at http://www.tidalroyalty.com to view the company's corporate presentation and the CSE's website to view the company's listing statement."

Abattis Bioceuticals Corp. (OTC: ATTBF) is a leading diversified cannabis company, with interests in operations engaged in growing, extraction, testing, propagation and retail distribution. The Company recently announced that it has entered into a definitive investment agreement dated June 27th, 2018 with XLABS Therapeutics Inc., to launch a new Cannabis laboratory in Belleville, Ontario. The Laboratory will be designed to service Ontario's growing cannabis sector, which currently numbers 59 licensed producers. The Laboratory will be housed in a 320,000 sq. ft. building. Abattis and XLABs plan for an initial build-out of 10,000 sq. ft., with plans to expand into the remaining 310,000 sq. ft. available at the Belleville Facility through organic growth and further joint-ventures. Pursuant to the Agreement, Abattis will a 10% equity stake in XLABS, in exchange for an initial investment of USD 2.5 Million into XLABS. "This is another very significant milestone for Abattis", stated Rob Abenante, President and CEO of Abattis. "Launching a laboratory of this size will substantially expand our lab business and strengthen our downstream service offerings," added Mr. Abenante.

Golden Leaf Holdings Ltd. (OTCQB: GLDFF) is one of the largest cannabis oil and solution providers in North America, and a leading cannabis products company built around recognized brands. Earlier this year, the Company announced that it has signed a letter of intent to acquire two large cannabis cultivation facilities and their associated cultivation licenses, one in Northern Nevada and another in Northern California, that are owned by the same operator. The Nevada facility is currently operational and generating positive cash flow, and the California facility is provisionally licensed for cultivation. Golden Leaf would pay USD 8.5 Million in cash at closing, plus an as of yet undetermined number of shares that equals 25% of the total issued and outstanding shares of common stock of GLH on the closing date. "Signing this LOI provides Golden Leaf with an opportunity to secure an agreement that would significantly expand our cultivation capabilities in the high-growth Nevada and California markets, both of which have commenced adult-use sales within the past 12 months," commented William Simpson, CEO of Golden Leaf.

NightFood Holdings, Inc. (OTC: NGTF), operates both NightFood, Inc. and MJ Munchies, Inc. In March, MJ Munchies, Inc. provided an update on the development of its Half-Baked line of cannabis-related snacks. In November, on an investor conference call, CEO Sean Folkson first introduced that the Company was investigating the scientific possibilities of a unique snack idea in the marijuana-related space. He identified that project as "Project X." After further research, the Company decided to move forward with Project X in January. In addition to the development of these unique products, which it plans to launch under the Half-Baked trademark, MJ Munchies is also currently in discussions with manufacturers regarding the launch of THC infused recreational snacks in Washington, Colorado, and Nevada.

MassRoots, Inc. (OTCQB: MSRT) is one of the leading technology platforms for the regulated cannabis industry. Powered by more than one million registered users, the Company's mobile apps empower consumers to make educated cannabis purchasing decisions through community-driven reviews. On June 20th the Company announced that it has launched its revamped dispensary portal, MassRoots for Business. Through this business portal, dispensaries are able to list locations on MassRoots' dispensary finder, update key information in real-time, and view insightful analytics on their local cannabis market. MassRoots' Chief Executive Officer Isaac Dietrich stated, "We expect that subscriptions to MassRoots for Business will be our primary source of revenue this year."

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