2017 Cannabis Market Developments

Thursday, May 4, 2017 Drug News
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NEW YORK, May 4, 2017 /PRNewswire/ --

A new report by New Frontier

Data indicates that in 2017, medical marijuana sales are forecasting a growth to $5.3 billion, accounting for 67% of total cannabis sales. By 2025, medical sales in currently legal states are estimating an increase to
$13.2 billion
, at which point medical sales will account for 55% of all sales. Comparatively, adult-use sales in 2017 are forecast to reach $2.6 billion, rising to $10.9 billion by 2025. In 2016 alone, adult-use consumers shopped once every 14 days and spent $49 per transaction; medical consumers, by contrast, shop once every 10 days and outspend the adult-use customer by more than three-to-one; spending $136 per transaction. SinglePoint, Inc. (OTC: SING), Terra Tech Corp. (OTC: TRTC), Cannabis Science, Inc. (OTC: CBIS), Medical Marijuana, Inc. (OTC: MJNA), GB Sciences, Inc. (OTC: GBLX)

"California offers the perfect example of why it is so important to understand trends in consumer behavior. The state's legal industry is forecast to grow from $2.8 billion in 2017 to $5.6 billion in 2020. That spending will be increasingly directed at products and retailers who understand and serve the market's evolving tastes and preferences. The market is changing, and the most successful operators will be those who adapt most quickly to the change," said New Frontier Data CEO, Giadha Aguirre De Carcer.

SinglePoint, Inc. (OTC: SING) is a holding company specialized in the acquisition of small- to mid-sized companies with an emphasis on new technologies. Yesterday the company issued, 'An update on current and future initiatives to maximize corporate value and increase shareholder communication'.

SinglePoint recently enhanced its corporate website, http://www.SinglePoint.com, to provide investors a clear view of the company's endeavors and market value. SinglePoint.com is designed to increase shareholder value by driving more engagement for potential acquisitions and sales for the acquired companies.

SinglePoint also launched its cannabis brand subsidiary, http://www.SingleSeed.com, for the online sale of cannabis products to cannabis dispensaries. To increase its visibility, SingleSeed.com also provides a list of upcoming tradeshows it will attend and offers an interactive Cannabis Laws Map to serve as a hub of information on cannabis laws in each state. Leveraging key distribution agreements and a highly-integrated marketing plan, SingleSeed is expected to drive significant sales this year."

Greg Lambrecht, SinglePoint CEO stated that, "The long-term vision is to build SingleSeed.com into a market-place for dispensaries to buy the products they need to do business. SingleSeed will also provide consulting services to cannabis businesses who need help gaining traction and success in their strategies."

Terra Tech Corp. (OTCQX: TRTC) is a vertically integrated cannabis-focused agriculture company that is committed to cultivating and providing the highest quality medical cannabis and other agricultural products. Recently, the company announced that its Chairman and Chief Executive Officer, Derek Peterson, will present at the 2017 Canaccord Genuity Cannabis Conference on Wednesday, May 10th at 1 PM Eastern at The Intercontinental Barclay New York in New York City. Derek Peterson, Chairman and CEO of Terra Tech Corp., commented, "Canaccord is one of the leading investment banks with expertise in the cannabis sector and we are pleased to be invited to present at its conference. Terra Tech continues to go from strength to strength and we look forward to educating interested investors about our business."

Cannabis Science, Inc. (OTC: CBIS) specializes in the development of cannabinoid-based medicines. The Company works with leading experts in drug development, medicinal characterization, and clinical research to develop, produce, and commercialize novel therapeutic approaches for the treatment for illnesses caused by infections as well as for age-related illness. On April, 21, the company announced that its expansion plans are well underway as it negotiates to purchase two medical marijuana dispensaries in the Los Angeles, California area. Both dispensaries will be branded Cannabis Science and showcase company products as well as other selected brands. 

Medical Marijuana, Inc. (OTC: MJNA) recently announced that its subsidiary HempMedsŪ is sponsoring San Diego EarthWork's 28th annual EarthFair event. EarthFair 2017 will take place from 10 AM to 5 PM on Aug. 23 in San Diego's Balboa Park. This year, EarthFair will include a 'Canna Village', which will feature live entertainment and 40 vendor booths designed to highlight top leaders in the cannabis and hemp industries. Visitors who stop by the HempMedsŪ booth can expect to learn more about the Company's unique line of CBD hemp oil supplements, including its award-winning brands like Dixie BotanicalsŪ and Real Scientific Hemp Oil™. 

GB Sciences, Inc. (OTCQB: GBLX) is a diverse cannabis company, focused on standardized cultivation and production methods; as well as biopharmaceutical research and development. On April 10, 2017, the company and Arizona-based Kush Cups signed an agreement to produce cannabis-infused products in the state of Nevada. GB Sciences will grow the cannabis in their state-of-the-art Cultivation Labs facility in Las Vegas and distribute cannabis-infused Keurig-compatible K-Cups, hot and cold brew coffees as well as infused teas. "We're excited to join forces with Kush Cups. They have an excellent line of products and are the leaders in their space in Nevada," said GB Sciences CEO John Poss. "Our partnership is positioned for maximum impact in the Nevada market. It is the first major step in our strategy to be a trusted ingredient in leading brands of infused products and therapies."

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