Lucy Scientific Discovery Inc. (NASDAQ: LSDI) Acquisition Strategy Differentiates Company in Projected $51B Global Cannabis Market
NEW YORK, Sept. 08, 2023 (GLOBE NEWSWIRE) -- via IBN — Lucy Scientific Discovery Inc. (NASDAQ:LSDI) today announces its placement in an editorial published by FinancialNewsMedia ("FNM") a multifaceted financial publishing company for public entities.
To view the full publication, "With Increasing Legal Acceptance Global Cannabis Market Projected to Reach $51 Billion in 2023," please visit: https://IBN.fm/1lmO3
"The global cannabis market just continues to keep growing year after year. The increasing legalization of cannabis and rising acceptance of its use for medical purposes are the key factors driving the growth of the market. A report from Statista projected that revenue in the global cannabis market is projected to reach US$51.27 billion in 2023; revenue is expected to show an annual growth rate (CAGR 2023–2028) of 14.95%, resulting in a market volume of US$102.90 billion by 2028. . . . "
"The report said: ‘. . . The cannabis market can be considered from three different application perspectives, "spiritual purpose," "health condition management," and "wellness management." The recreational cannabis market includes the consumption of cannabis for nonmedicinal reasons, such as boosting physical performance, pursuing creative activities, and experiencing spirituality. Recreational cannabis can be consumed in the form of extracts, dried cannabis, edibles and beverages. Active cannabis companies in the markets this week include: Lucy Scientific Discovery Inc. (LSDI)."
About Lucy Scientific Discovery Inc.
Lucy Scientific Discovery is a NASDAQ company with holdings and operations in a variety of psychotropic businesses. The company holds a Controlled Drugs and Substances Dealer's License granted by Health Canada's Office of Controlled Substances. Lucy Scientific Discovery Inc. and its wholly owned subsidiary, LSDI Manufacturing Inc., operate under Part J of the Food and Drug Regulations promulgated under the Food and Drugs Act (Canada). This specialized license authorizes LSDI to develop, sell, deliver and manufacture pharmaceutical-grade active pharmaceutical ingredients ("APIs") used in controlled substances and their raw material precursors. With a focus on pioneering innovative therapies for patients in need, Lucy Scientific Discovery Inc. is dedicated to advancing the understanding and applications of psychotropic medicines, improving mental health outcomes, and enhancing well-being for individuals worldwide.
For more information, visit the company's website at www.LucyScientific.com
NOTE TO INVESTORS: The latest news and updates relating to LSDI are available in the company's newsroom at https://ibn.fm/LSDI
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