FinancialBuzz.com: The Growth of Small Businesses in the Cannabis Sector
NEW YORK, February 28, 2017 /PRNewswire/ --
The growing number of states which have legalized cannabis both in medical and recreational purposes are the major factors that propel demand for the young and developing industry for coming years. According to a report from Grand View Research, the global medical cannabis market size was valued at USD 11.4 billion in 2015 and is projected to grow with CAGR of 17.1% during the forecast period, reaching a value of USD 55.8 billion by 2025. The market is experiencing growth due to rising awareness regarding various medical applications such as pain management, appetite enhancement, and reducing eye pressure. SinglePoint, Inc. (OTC: SING), United Cannabis Corporation (OTC: CNAB), Marijuana Company of America Inc. (OTC: MCOA), MCig Inc. (OTC: MCIG), Easton Pharmaceuticals Inc. (OTC: EAPH)
The cannabis market is not evolved in majority countries around the world. Medical use of cannabis is not yet approved in the majority of Asian and Latin American economies, thus the regional scope is limited to North America and Europe. North America held a majority of the share of nearly 49.0% in 2015. The surging pace of cannabis legalization in the U.S. is one of the key factors contributing to its increased demand, according to the research. In the U.S., cannabis has been legalized for recreational uses in 4 states and 5 states, namely, California, Maine, Arizona, Massachusetts, and Nevada have voted for its legalization for recreation needs also.
SinglePoint, Inc. (OTC: SING) is a full-service mobile technology and marketing provider that serves a diverse clientele. The company provides solutions that allow clients conduct business transactions, accept donations, and engage in targeted communication through mobile devices. SinglePoint is now involved in the legal cannabis market. It has recently announced that the subsidiary SingleSeed (http://www.singleseed.com) is set to provide credit card processing solutions for the cannabis industry.
On January 31st SinglePoint Inc. announced that it, "is entering an exciting niche of the cannabis industry through a Letter of Intent ("LOI") to acquire an interest in Jacksam Corp., dba Convectium, a profitable California-based provider of equipment, branding, and packaging solutions for the cannabis industry.
Convectium is the creator of the world's first oil filling machine focused on the cannabis industry that is capable of filling cartridges or disposable vape pens for wholesale distribution to dispensaries. The company's 710Shark and 710Seal system can fill and package up 100+ cartridges or disposable vape pens in 30 seconds, making it the fastest filling and sealing system of its kind. Convectium operates a B2B equipment division in addition to its legacy B2C products."
Convectium was founded in October of 2013 and based in South Orange County, California. Convecitum does not touch plants; its branding, packaging and equipment solutions help grow the companies that do. With the industry's first and only oil filling system, proprietary packaging systems and innovative devices, Convectium represents a commitment to the future of infrastructure in the cannabis industry.
United Cannabis Corporation (OTCQB: CNAB) along with its Jamaica-based subsidiary, Cannabis Research & Development, has signed a Letter of Intent with the Caribbean Institute of Medical Research to collaborate on advancing clinical research on medical cannabis. Tony Verzura, Chief Technical Officer of United Cannabis, commented on the announcement, "For several years we have been tracking patient outcomes using Prana P1 - P5 products with the help of our A.C.T. Now Program and have collected a wealth of anecdotal evidence supporting the safety and efficacy of our medications. Our collaboration in Jamaica with CARIMER is the first of many steps to formally test and confirm the benefits of the Prana line for a broad range of diseases in preparation for pharmaceutical markets."
Marijuana Company of America Inc. (OTC: MCOA) an innovative cannabis and hemp marketing and distribution Company, is pleased to announce that it has entered into a non-binding Letter of Intent while performing due diligence to finalize a joint venture agreement with Bougainville Ventures, Inc. for the purpose of housing tenant growers engaging in the cultivation, processing and commercial availability of legal marijuana in the State of Washington. "We are looking forward to getting seed in the ground and ramping up this partnership with Andy Jagpal and Bougainville Ventures. This partnership further strengthens our supply chain and enables MCOA to produce the highest quality products at the lowest possible prices," said President and Chief Executive Officer of Marijuana Company of America, Donald Steinberg.
MCig Inc. (OTCQB: MCIG) is a diversified company servicing the legal cannabis, hemp and CBD markets via its lifestyle brands. It provides streamlining of administrative and documentation services, consolidation of inventories and supports economy of scale. MCIG has transitioned from a vaporizer manufacturer to an industry leading, large scale, full service cannabis cultivation Construction Company, with its Grow Contractors division currently operating in the rapidly expanding Nevada market. The company looks forward to growing its core competencies to service the Ancillary legal Cannabis, Hemp, and CBD markets, with broader expansion to take place once federal laws change.
Easton Pharmaceuticals Inc. (OTC: EAPH) has completed and shipped its mPact -GROzone Antimicrobial Systems. The mPact -GROzone Antimicrobial Systems product line eliminates the problems encountered in medicinal marijuana and all types of grow facilities in general by providing a sanitization unit that is a combination of two ozone technologies. "AMFIL's lead scientist and inventor provided an introductory viewing and presentation of a finished mPact -GROzone unit prior to being integrated into a commercially licensed, state of the art medical marijuana grow facility in Colorado," said Easton Pharmaceuticals.
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