LOS ANGELES, CA / ACCESSWIRE / January 11, 2021 / Radiko Holdings (CSE:RDKO) (the "Company") CEO Steve Gormley publishes an open letter to Shareholders.
To Our Valued Shareholders,
Let me begin by wishing you all a happy and healthy New Year. As we have recently seen considerable change in the world around us, I wanted to take this opportunity to share our outlook on the year ahead and provide key updates on Radiko developments.
Coming off the heels from a year of impressive growth for the legal cannabis industry, and heading into a very promising 2021, there is no question that we are at an unprecedented inflection point in the maturation of the cannabis market. Amidst a pandemic we have seen swift responses to the regulatory measures and a surge in consumer demand. There is unforeseen support for cannabis both globally and nationally -- including The World Health Organization recommending cannabis for medical use and research , more than 40 U.S. states legalized recreational and/or medical marijuana by the end of 2020, and most state governments around the U.S. now deem medical marijuana companies as "essential".
Market growth has exceeded expectations and the sector is projected to double in the next four years. According to a recent report from New Frontier Data "Total 2020 U.S. legal cannabis sales are expected to exceed $20 billion, with post-election expansion and existing state markets to combine for a projected compound annual growth rate (CAGR) of 21%, and reach $41.5 billion by 2025. Annual U.S. sales of legalized medical cannabis are projected to reach $16.3 billion by 2025, and regulated adult-use sales meanwhile projected to top $25.1 billion."
Cannabis stocks have been rallying since last November after Biden won the presidential race and several states legalized marijuana for recreational and/or medical use. Last week we witnessed more unforeseen historic milestones as Democrats won the Senate, reshaping the balance of power in Washington. The market has increased hopes for legalization at the federal level and the ability to move legislative measures through Congress including the SAFE Banking and MORE Acts, which will only help to ease some challenging business issues facing the industry. As such, cannabis stocks across the board soared, with industry leaders including Tilray, Cronos, Aurora and Canopy Growth's share price jumping up nearly 40% in the week.
We believe the best days are ahead of us and Radiko is strategically poised for growth with this surge in momentum. Radiko's corporate development has and continues to be focused on building and marketing a diversified portfolio of brands, with strategic manufacturing and distribution partnerships to support better EBITDA and margins. There continues to be significant public interest in cannabinoids and we believe our CBD business is expected to have notable expansion opportunities when the FDA gets through their science based process. On the THC side we continue to build the value of our assets from cultivation to final packaged product. Be on the lookout for announcements from us of new partnerships and brands over the next two quarters.
I would be remiss if I didn't share about the remarkable progress Jeff Malinovitz and team have made with the Carson City facility. We are now weeks away from our first harvest with the new premium genetics. Here are a few pictures of the beautiful new crop.
Lastly, I am planning to host a live digital roundtable event in a few weeks, with the purpose to speak in further detail about these topics and to facilitate an exchange of ideas and questions. This will be open to members of the investor community who are interested in following Radiko's progress. Stay tuned for updates on this event through our social media channels and our company newsletter (sign up here).
In my last Shareholder Letter I closed with, "There has never been a more exciting time to be in this industry". At that time I had only hoped the political climate would be as favorable for the industry as it is today. This has been an incredible adventure with you all, and I am thrilled at the prospects this coming year will bring.
About Radiko Holdings
Radiko Holdings Corp. (RDKO) is a CBD and cannabis-focused brand portfolio, leveraging the potential of the plant by offering best of breed products that naturally complement today's consumer lifestyles. The Corporation's mission is to build and market a diversified portfolio of cannabis and CBD brands, with strategic manufacturing and distribution partnerships to support better EBITDA and margins. RDKO markets products with THC content where that practice has been legalized at the state level through either medicinal or recreational use. RDKO also markets products containing CBD in the US and internationally. The Corporation believes as the legal cannabis and CBD markets evolve, high-quality, unique products will increasingly capture market share and provide a valuable platform for growth.
For further information:
Chief Executive Officer
Radiko Holdings Corp.
12655 W Jefferson Blvd
Los Angeles, CA, 90066
Ph: +1-(323)-828-4321 or email@example.com
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Disclaimer concerning Forward-looking Statements
Certain statements included herein constitute "forward-looking statements" relating to the operations of the Company and its business prospects within the meaning of applicable securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Investors are cautioned not to put undue reliance on forward-looking statements. Additional risks and uncertainties regarding the Company are described in its publicly-available disclosure documents filed by the Company on SEDAR (www.sedar.com). The forward-looking statements contained in this news release represent the Company's expectations as of the date of this news release, or as of the date they are otherwise stated to be made, and subsequent events may cause these expectations to change. Except as required by law, the Company does not intend, and undertakes no obligation to update any forward-looking statements to reflect, in particular, new information or future events.
 New Frontier Data, "Cannabis For America 2021 And Beyond"
 New Frontier Data, "Cannabis For America 2021 And Beyond"
SOURCE: Radiko Holdings
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