- VPR Brands is set to benefit from the approval of medical marijuana in South Asian markets
- The Thai marijuana industry is expected to reach $661 million by 2024
- VPRB announced growth of $1.58 million for Q2 2019, marking a 31 percent increase over last year
VPR Brands LP (OTCQB: VPRB), a technology holding company whose assets include issued U.S. and Chinese patents for atomization-related products, including technology for medical marijuana vaporizers and electronic cigarette products and components, is positioned to benefit as the Southeast Asian medical market could soon start using medical marijuana for the treatment of its patients. This news was announced by Thailand Public Health Minister Anutin Charnvirakul, who is also the deputy prime minister of Thailand (http://ibn.fm/mQJT3). This is the first time that Thai state hospitals will be administering cannabis oils to patients since the country passed legislation allowing such treatment.
“This is the outcome of legalizing medical cannabis,” Charnvirakul stated in a press conference. “There is no hidden agenda. We only want to support every patient.” The Government Pharmaceutical Organization (GPO) delivered the initial shipment to the public health ministry to distribute to hospitals for about 4,000 registered patients; additional oils will be distributed in coming weeks.
In December 2018, Thailand became the first Southeast Asian nation to legalize the use of marijuana for medical purposes (http://ibn.fm/uKqTf). Under this law, the Thai government will be regulating the production, processing and sale of medical marijuana products. Prohibition Partners, a marijuana research firm, forecast that the marijuana industry in Thailand could be worth around $661 million by 2024 (http://ibn.fm/48D8f), and only licensed companies will be granted access to activities related to the new medical marijuana industry.
In addition to its U.S. patents, VPR Brands has Chinese-issued patents for atomization-related products. These patents include technology for medical-marijuana vaporizers and e-cigarette products and components. Since the company is already engaged in dealing with medical-marijuana products in the Chinese arena, the progress of medical marijuana in Thailand will further accelerate the VPR Brands’ expansion plans into the South Asian markets. Industry experts recognized VPR Brands specifically as one such company to be “thrilled that the Asian medical marijuana market could soon open up.”
VPR Brands’ has an extensive line of products that include accessories and vaporizers for cannabidiol (CBD), cannabis extracts and concentrates. The company also develops products for the vaping market, including e-vaporizers and e-liquids, and has alliances with top global brands in the vaping industry. The company’s growth strategy centers on adding more products while increasing production and thereby increasing sales.
VPR Brands CEO Kevin Frija has more than 30 years of valuable marketing and managerial experience. Under his sound leadership, VPR Brands is maneuvering toward the cannabis industry, which has led to an upsurge in sales and profit margins.
Recently, the company announced sales of $1.58 million for the three-month period ended June 30, which marked a 31 percent increase over the same period of 2018 (http://ibn.fm/cnc3i).
For more information, visit the company’s website at www.VPRBrands.com
NOTE TO INVESTORS: The latest news and updates relating to VPRB are available in the company’s newsroom at http://ibn.fm/VPRB