PALM BEACH, Florida, June 6, 2017 /PRNewswire/ --
As the cannabiseconomy continues to mature with swelling sales and rising revenues, the legal marijuana industry companies are securing significant amounts of funding to expand operations, introduce latest products and services as well as create new revenue stream
Glance Technologies Inc. (OTCQB: GLNNF) (CSE: GET.CN) is pleased to announce the closing of the first licensing payment of $200,000 towards a $1,000,000 fee and an amendment to its licensing agreement with Cannapay Financial Inc.
"Through the alliance between Glance Technologies and Cannapay, we already have strong interest in licensing the Glance Pay payment platform from U.S. entities in the cannabis space," says Penny Green, President and COO of Glance, "Also, we have received many requests from emerging cannabis-related companies throughout North America for all kinds of financial services, from equipment leasing to merchant processing." Read this and more news for Glance Technologies at: http://www.marketnewsupdates.com/news/glnnf.html
Cannabis sales totaled $6.7 billion in 2016 and the industry is growing larger and faster than the dot-com era. The dot-com era grew at a rate of 22%, while cannabis is growing at 30% in its early stages.
"The only consumer industry categories I've seen reach $5 billion in annual spending and then post anything like 25% compound annual growth in the next five years are cable television (19%) in the 1990s and broadband Internet (29%) in the 2000s," says Tom Adams, Editor in Chief of Arcview Market Research. "You will not find another multi-billion dollar market growing at a 25% compound annual growth rate anywhere in the world that is not already filled with multi-national companies and institutional investors," says Troy Dayton, CEO of Arcview Market Research, "That's part of what makes the cannabis industry such a unique opportunity for investors and entrepreneurs."
In other industry news and developments of note:
Mountain High Acquisitions Corp. (OTCQB: MYHI) closed up slightly on Monday at $0.182 trading over 1.4 million shares by the market close. Mountain High Acquisitions Corp. announced late last month that it has entered into an agreement with D9 Manufacturing, Inc., an Arizona-based company that offers a wide variety of engineering, manufacturing and consulting services to the cannabis sector. MYHI has engaged D9 to assist in the identification, acquisition, and development of infrastructure and technology opportunities in the burgeoning cannabis market.
MYM Nutraceuticals Inc. (CSE: MYM.CN) (OTCQB: MYMMF) closed up 5.26% on Monday after trading north of 3 million shares by the end of the day. MYM Nutraceuticals is a public company trading on the Canadian Stock Exchange whose primary focus is developing high-end organic medicinal marijuana supplements and topical products. MYM also has an interest in the development of high-density farming facilities and technologies that allow MYM to expand its brand into the global market.
United Cannabis Corporation (OTCQB: CNAB) closed up 28.51% on Monday at $1.12 after trading over 1 million shares on the day. United Cannabis recently announced it has made progress in initiating clinical trials for its proprietary Prana Bio Medicinals cannabinoid compounds. Using a patent-pending technology, the company infuses cannabinoids, terpenes, and flavonoids without the use of any heat, solvents, or chemicals to produce 100% natural products. Read the full release here: https://finance.yahoo.com/news/united-cannabis-near-term-cannabinoid-185055372.html
Weed, Inc. (OTC: BUDZ) closed up 26.52% at $1.67 and traded just shy of 1 million shares on the day. WEED Inc. is a multi-national, multi-faceted, vertically-integrated world-class cannabis organization. WEED is structured as a holding company doing business through its divisions, wholly-owned subsidiaries, and strategically placed collaborative partners to achieve and promote our global brand. WEED is dedicated to its global goals and outreach across the full spectrum of the cannabis industry to find treatments and medical cures utilizing the Cannabaceae plant family.
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