Businesses Post Legalization of Cannabis
NEW YORK, November 14, 2016 /PRNewswire/ --
http://www.Financialbuzz.com - Voters in California last week voted 56% in favor of Proposition 64 or what supporters referred to as the Adult Use of Marijuana Act. A yes vote supported legalizing recreational marijuana for persons aged 21 years or older under the state law and establish certain sales and cultivation taxes. According to Ballotpedia, Yes votes came in at 4,957,215 versus the No voters, which came in at 3,889,080. ChineseInvestors.com, Inc. (OTC: CIIX), Medicine Man Technologies, Inc. (OTC: MDCL), mCig Inc. (OTC: MCIG), Marijuana Company of America Inc. (OTC: MCOA), Growblox Sciences Inc. (OTC: GBLX).
California, Massachusetts, Nevada and Maine legalized cannabis for recreational use, which means more than 20 percent of Americans can use cannabis or marijuana legally. According to a report by New Frontier and ArcView Market Research, the regulated cannabis market in the United States is projected to reach more than $7 billion this year. With now eyes on the post elections, many businesses in this sector are pushing ahead with new corporate developments.
ChineseInvestors.com Inc. (OTCQB: CIIX) just announced that, "It will launch the world's first Chinese-language mobile cannabis navigation application. This cannabis 'Yelp' style social media mobile app will contain a database of marijuana dispensaries and cannabis strains, a platform to review and discuss various cannabis products, and maps showing the locations of medical and recreational cannabis dispensaries. In addition, the mobile app will offer cannabis business summary reports of Los Angeles and other large cities, so that users can easily get the best recommendations for local legal marijuana products. The Company intends to launch this application on January 1st, 2017, and the platform will expand to include cannabis merchant advertising and tourism recommendations in the next few years."
Warren Wang, founder and CEO of CIIX, commented: "Many Chinese investors still have a bias against the cultivation and sales of cannabis, yet its effectiveness in the fields of medicine, food, cosmetics and other industries cannot be ignored. And for those Chinese who do accept medical or recreational use of cannabis, they will need help in locating appropriate resources to assist them in learning how to utilize cannabis in an effective way. The cannabis 'Yelp' style social media mobile app developed by our company is specifically designed to help curious Chinese people do this. Furthermore, this application will help Chinese investors discover valuable business opportunities in cannabis cultivation, advertising and tourism."
Medicine Man Technologies, Inc. (OTCQB: MDCL). The company implemented a risk averse growing environment, applying high-tech indoor cannabis cultivation equipment and works in medical and adult use dispensaries. Medicine Man Technologies assisted Illinois and Nevada licensees to organize these practices after acquiring cultivation and dispensary operational licenses. Currently, the company has reinforced competitive application filings in Maryland and Hawaii and has pre-licensure clients in Texas, California, Florida, Ohio, Arkansas, and Oklahoma and has engaged potential clients in Alaska, Delaware, Utah, Michigan, Nebraska, Puerto Rico, and abroad.
MCig Inc. (OTCQB: MCIG) released a research report and analysis by Technical 420, LLC, which provides a view of the company, its product offerings and target markets. The report is available at Research Report that was conducted by Technical 420's founder Michael Berger. MCIG's Chief Financial Officer, Mike Hawkins stated, "The Company wanted to have an evaluation done as a way to measure strengths and potential areas for improvement. More importantly, we wanted a high caliber point of view that comes from public data and numbers crunching. The Company has made the report available on its website for the convenience of the shareholders as a means to reference the information with their own point of view." The CFO went on to state, "MCIG continues its growth in the cannabis markets and we feel we are well positioned based on company fundamentals and pristine capital structure."
Marijuana Company of America Inc. (OTC: MCOA) the inaugural product launch of hempSMART Brain will begin on November 7, 2016. Members and non-members are expected to be able to place orders for this unique product on November 7, 2016 in conjunction with the launch of the full hempSMART.com website. The Company's supply chain partners are established, inventory purchase contracts are in place, customer support centers are trained and ready to assist customers. The product is bottled, labeled and ready for shipping.
Growblox Sciences Inc. (OTCQB: GBLX) has established its proprietary GrowBLOX™ technology suite to control the growth of Cannabis and other plants with high medicinal value to a pharmaceutical-industry quality standard. The GrowBLOX™ system allows the company to create "GBLX" branded, patented and certified therapeutic mixtures of raw plant ingredients through a comprehensive GBLX Quality Management Program. GB Sciences acts as the central hub for testing the GBLX-certified materials in a technologically data-driven biopharmaceutical innovation system to produce and authorize novel cannabis-based therapies for patients with clinically unmet requests.
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