FinancialBuzz.com: The Growth and Expansion of the Legal Cannabis Market
NEW YORK, March 13, 2017 /PRNewswire/ --
The legal cannabis industry could become a major driver of U.S. economy in the near future, despite the uncertainties arising from the new presidential administration's policy regarding this industry. According to a new report published by New Frontier Data, the legal cannabis market will create 283,422 jobs for American workers by 2020. Recent legalization of cannabis for either medical or recreational use is considered as the main factor that fuels the growth of the legal cannabis market. This growth in the sector could further boost the U.S. economy by creating more jobs and increasing tax revenue for states. Diego Pellicer Worldwide, Inc. (OTC: DPWW), MassRoots Inc. (OTC: MSRT), Terra Tech Corporation (OTC: TRTC), CV Sciences Inc. (OTC: CVSI), American Cannabis Company Inc. (OTC: AMMJ)
As of today, 28 states in U.S. had legalized medical cannabis, while the sale of recreational cannabis remains legal in 8 states, including California and Massachusetts. Giadha Aguirre De Carcer, Founder and CEO of New Frontier Data, said, "While we see a potential drop in total number of U.S. jobs created in 2017, as reported by Kiplinger, as well as an overall expected drop in GDP growth, the cannabis industry continues to be a positive contributing factor to growth at a time of potential decline."
Diego Pellicer Worldwide, Inc. (OTCQB: DPWW) a real estate and consumer retail development company that is focused on developing the world's first 'premium' cannabis brand.
Diego Pellicer Worldwide, Inc. today announced a first in the Company's history of operations. March 2017 all of Diego Pellicer branded tenant locations in Washington and Colorado commenced paying rent as of March 1, 2017. Diego Pellicer's business model is reliant on the branded tenant's success and their ability to perform under our unique business model. Diego Pellicer Washington opened its flagship store in Seattle in the fourth quarter of 2016, and its Denver flagship store opened last month to great fanfare.
The Company's branded tenants have secured multiple state cannabis licenses, including medical and recreational cultivation licenses, infused medical and recreational products manufacturer licenses (Medical Processor License for edibles and concentrates), and retail licenses.
Ron Throgmartin, CEO of Diego Pellicer Worldwide, stated, "The cannabis consumer will experience unparalleled customer service, selection and pricing from our branded tenants as Diego Pellicer redefines the cannabis shopping experience. With rent commencing in all of our branded locations, Diego Pellicer can now focus on expansion and new acquisitions, as we increase our market share, and follow our growth strategy to drive shareholder value."
With more than 900,000 users, MassRoots Inc. (OTCQB: MSRT) is one of the largest and fastest growing platforms for cannabis enthusiasts. Through its mobile applications and web portal, people use MassRoots to share their cannabis content, stay connected with the latest legalization news and follow their favorite dispensaries through community-driven reviews. MassRoots is affiliated with the leading businesses and organizations in the cannabis industry, including the ArcView Group and National Cannabis Industry Association. Its mobile application features dispensary finder and menus, product pages and reviews, and Sponsored Posts 2.0. It provides business dashboards featuring MassRoots' product data in actionable formats. The Company focuses on introducing other features for users and index the network's public content on Google for software engine optimization value. The Company gains insights into consumer trends by aggregating data from various cannabis consumers.
Terra Tech Corporation (OTCQX: TRTC) is a vertically integrated cannabis-focused agriculture company, that had recently constructed its new cannabis cultivation facility in Oakland, California. Terra Tech has executed a lease for 13,000 square feet of industrial space on over 30,000 square feet of land in Oakland's industrial corridor. The Company is in the final stages of designing a state of the art cultivation facility projected to produce over one metric ton of premium grade cannabis per annum for its IVXX brand. The design includes fully automated environmental controls which are anticipated to reduce production costs associated with the cultivation of IVXX cannabis. IVXX Inc. is a wholly-owned subsidiary of Terra Tech that produces medical cannabis-extracted products for regulated medical cannabis dispensaries throughout California.
CV Sciences Inc. (OTCQB: CVSI) focuses on drug development activities on products containing cannabidiol (CBD) as the active pharmaceutical ingredient, and also is engaged in the sale of CBD, and the development, marketing and sale of end consumer products containing CBD, which is refined into its own PlusCBD Oil™ brand, the leading hemp-derived CBD product line in the United States. The Company operates in two segments: specialty pharmaceuticals and consumer products. The Company's specialty pharma business segment is focused on developing and commercializing therapeutics utilizing synthetic Cannabidiol across several therapeutic areas. The consumer product business segment is focused on manufacturing, marketing and selling plant-based CBD products to a range of market sectors.
American Cannabis Company Inc. (OTCQB: AMMJ) offers end-to-end solutions to existing and aspiring participants in the cannabis industry. The Company utilizes their industry expertise to provide business planning and market assessment services, assist state licensing procurement, create business infrastructure and operational best practices. American Cannabis Company also developed and owns a portfolio of branded products including: The Satchel™, SoHum Living Soils™, The Cultivation Cube™ and The High Density Cultivation System™. We also design and provide other industry specific custom product solutions. The building and development of our brands and product suite is based on our Geoponics Philosophy, 'the art and science of agriculture in soil'.
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