NEW YORK, June 27, 2017 /PRNewswire/ --
According to a new market research study published by Ameri Research, the global legal cannabis market was valued at $14.3 billion in 2016. The market is forecast to grow at a CAGR of 21.1% between 2017 and 2024, while reaching global sales of $63.5bn by 2024. The report indicates that, 'North America accounts for over 49% of the market, with the U.S. being the single largest market'. The key factors boosting the legal cannabis market include the growing tax revenues due to product sales and tourism activities, decrease in crime rate, and several medical applications. There are about 20 conditions for which medical cannabis is used, and some of the more common applications include pain management, arthritis, cancer, multiple sclerosis and Alzheimer's. In 2016, chronic pain was identified as the largest segment in this market. SinglePoint, Inc. (OTC: SING), CV Sciences, Inc. (OTC: CVSI), GB Sciences, Inc. (OTC: GBLX), mCig, Inc. (OTC: MCIG), MassRoots Inc. (OTC: MSRT)
The report emphasizes that according to the National Institute of Health (NIH), nearly 40 million adults experienced severe levels of pain and over 25.3 million adults experienced chronic pain. Due to unhealthy life style factors, medical conditions, the number of people requiring pain management is growing rapidly and therefore, this segment is expected to continue its dominance over the forecast period. However, cancer is expected to emerge as the fastest growing application area over the next few years. Rapid increase in the number of cancer patients undergoing chemotherapy is a key reason boosting the consumption of medical cannabis across different regions.
SinglePoint, Inc. (OTC: SING) on June 20th announced that it has "successfully closed a $1 million company friendly Convertible Promissory Note with an institutional investor. Proceeds from the investment will be used to execute on the company's previously announced BitCoin Payments solution, as part of its partnership with First BitCoin Capital (OTC: BITCF). With the new round of funding, SinglePoint management believes the company will be able to move very quickly to develop a crypto currency solution and continue acquisitions in cannabis space."
"This is great timing for SinglePoint. We have many acquisitions deals in the pipeline, and access to this capital will exponentially increase the chances of getting these done. In addition, we have many technical developments that are ready to launch. We will be able to develop our solutions and really start driving sales," states Greg Lambrecht CEO of SinglePoint.
SinglePoint currently offers many integrated business solutions. The addition of BitCoin Payments to its portfolio will help solve the banking issue in the cannabis industry and other high-risk markets. Furthermore, SinglePoint has developed and is releasing a full-scale web development and online marketing solution for dispensaries. The company will use some of this funding to launch its own online marketing system to drive more customers to SingleSeed.com. In the acquisition space, SinglePoint has already acquired several companies in the cannabis vertical, and is currently in discussions with other targets for a potential roll-up.
CV Sciences, Inc. (OTCQB: CVSI) operates two distinct business segments: a drug development division focused on developing and commercializing novel therapeutics utilizing synthetic CBD; and a consumer product division in manufacturing, marketing and selling plant-based CBD products to a range of market sectors. CV Sciences, Inc. has primary offices and facilities in San Diego, California and Las Vegas, Nevada. The company announced that it held its pre-IND meeting with the U.S. Food and Drug Administration (FDA) on June 15, 2017, to review its drug development plan for CVSI-007, the Company's patent-pending product for smokeless tobacco addiction therapy consisting of nicotine-polacrilex chewing gum in combination with synthetic cannabidiol (CBD).
GB Sciences, Inc. (OTCQB: GBLX) is a diverse cannabis company, focused on standardized cultivation and production methods; as well as biopharmaceutical research and development. Recently, the company announced it secures bid to Louisiana State University (LSU) and receives authorization from the LSU Board of Supervisors to proceed with contract negotiations to act as the LSU Agricultural Center's (AgCenter) licensed operator of their medical cannabis production facility as outlined in the Alison Neustrom Act (hereinafter referred to as the 'Act'). The secured bid will enable GB Sciences to be the sole vendor of cannabis and extracted cannabis compounds on behalf of LSU for the patients of Louisiana. The agricultural centers at LSU and Southern University have the only two licenses granted by the State of Louisiana to cultivate, distribute, and sell medical cannabis.
MassRoots Inc. (OTCQB: MSRT) is one of the largest technology platforms for the regulated cannabis industry. The Company's mobile apps enable consumers to make educated cannabis purchasing decisions through community-driven reviews. On June 9, 2017, the company announced that it made a strategic investment in High Times Holding Corporation, 'High Times', the leading voice of the Cannabis Industry, in February 2017. Over the past forty years, High Times has built an iconic brand and business with innovative and forward-minded strategy at the front of the cannabis legalization movement. High Times maintains a portfolio of high-quality brands, including the Cannabis Cup and High Times Magazine, and a reputation for being at the leading edge of industry trends, information and news.
mCig, Inc. (OTCQB: MCIG) is a diversified company servicing the legal cannabis, hemp and CBD markets via its lifestyle brands. Recently, the company announced that its Grow Contractors (GC) division has exceeded fourth quarter revenues of 2017 (February 1 - April 30, 2017) in just the first month of the 2018 fiscal year (May 2017). In the first month of FY2018, GC surpassed earnings with $1.3 million in gross revenue. Grow Contractors is MCIG's group of Cannabis consultants, engineers, architects, contractors, and grow experts combining over 100 years of experience and talent combined, to bring efficient and high-quality grow spaces. Grow Contractors offers a practical approach to cannabis design, construction, and operations to create profitable and compliant facilities, and a custom tailored approach to every client.
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Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the 'Site') is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. Financialbuzz.com has not been compensated directly by any of the companies mentioned here in this editorial. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For this release, FinancialBuzz.com has been compensated five thousand dollars for financial news dissemination and PR services by a third party non affiliate for SinglePoint, Inc. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use. Please visit: http://www.financialbuzz.com For further information:
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According to a new market research study published by Ameri Research, the global legal cannabis market was valued at $14.3 billion in 2016. The market is forecast to grow at a CAGR of 21.1% between 2017 and 2024, while reaching global sales of $63.5bn by 2024. The report indicates that, 'North America accounts for over 49% of the market, with the U.S. being the single largest market'. The key factors boosting the legal cannabis market include the growing tax revenues due to product sales and tourism activities, decrease in crime rate, and several medical applications. There are about 20 conditions for which medical cannabis is used, and some of the more common applications include pain management, arthritis, cancer, multiple sclerosis and Alzheimer's. In 2016, chronic pain was identified as the largest segment in this market. SinglePoint, Inc. (OTC: SING), CV Sciences, Inc. (OTC: CVSI), GB Sciences, Inc. (OTC: GBLX), mCig, Inc. (OTC: MCIG), MassRoots Inc. (OTC: MSRT)
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The report emphasizes that according to the National Institute of Health (NIH), nearly 40 million adults experienced severe levels of pain and over 25.3 million adults experienced chronic pain. Due to unhealthy life style factors, medical conditions, the number of people requiring pain management is growing rapidly and therefore, this segment is expected to continue its dominance over the forecast period. However, cancer is expected to emerge as the fastest growing application area over the next few years. Rapid increase in the number of cancer patients undergoing chemotherapy is a key reason boosting the consumption of medical cannabis across different regions.
SinglePoint, Inc. (OTC: SING) on June 20th announced that it has "successfully closed a $1 million company friendly Convertible Promissory Note with an institutional investor. Proceeds from the investment will be used to execute on the company's previously announced BitCoin Payments solution, as part of its partnership with First BitCoin Capital (OTC: BITCF). With the new round of funding, SinglePoint management believes the company will be able to move very quickly to develop a crypto currency solution and continue acquisitions in cannabis space."
"This is great timing for SinglePoint. We have many acquisitions deals in the pipeline, and access to this capital will exponentially increase the chances of getting these done. In addition, we have many technical developments that are ready to launch. We will be able to develop our solutions and really start driving sales," states Greg Lambrecht CEO of SinglePoint.
SinglePoint currently offers many integrated business solutions. The addition of BitCoin Payments to its portfolio will help solve the banking issue in the cannabis industry and other high-risk markets. Furthermore, SinglePoint has developed and is releasing a full-scale web development and online marketing solution for dispensaries. The company will use some of this funding to launch its own online marketing system to drive more customers to SingleSeed.com. In the acquisition space, SinglePoint has already acquired several companies in the cannabis vertical, and is currently in discussions with other targets for a potential roll-up.
CV Sciences, Inc. (OTCQB: CVSI) operates two distinct business segments: a drug development division focused on developing and commercializing novel therapeutics utilizing synthetic CBD; and a consumer product division in manufacturing, marketing and selling plant-based CBD products to a range of market sectors. CV Sciences, Inc. has primary offices and facilities in San Diego, California and Las Vegas, Nevada. The company announced that it held its pre-IND meeting with the U.S. Food and Drug Administration (FDA) on June 15, 2017, to review its drug development plan for CVSI-007, the Company's patent-pending product for smokeless tobacco addiction therapy consisting of nicotine-polacrilex chewing gum in combination with synthetic cannabidiol (CBD).
GB Sciences, Inc. (OTCQB: GBLX) is a diverse cannabis company, focused on standardized cultivation and production methods; as well as biopharmaceutical research and development. Recently, the company announced it secures bid to Louisiana State University (LSU) and receives authorization from the LSU Board of Supervisors to proceed with contract negotiations to act as the LSU Agricultural Center's (AgCenter) licensed operator of their medical cannabis production facility as outlined in the Alison Neustrom Act (hereinafter referred to as the 'Act'). The secured bid will enable GB Sciences to be the sole vendor of cannabis and extracted cannabis compounds on behalf of LSU for the patients of Louisiana. The agricultural centers at LSU and Southern University have the only two licenses granted by the State of Louisiana to cultivate, distribute, and sell medical cannabis.
MassRoots Inc. (OTCQB: MSRT) is one of the largest technology platforms for the regulated cannabis industry. The Company's mobile apps enable consumers to make educated cannabis purchasing decisions through community-driven reviews. On June 9, 2017, the company announced that it made a strategic investment in High Times Holding Corporation, 'High Times', the leading voice of the Cannabis Industry, in February 2017. Over the past forty years, High Times has built an iconic brand and business with innovative and forward-minded strategy at the front of the cannabis legalization movement. High Times maintains a portfolio of high-quality brands, including the Cannabis Cup and High Times Magazine, and a reputation for being at the leading edge of industry trends, information and news.
mCig, Inc. (OTCQB: MCIG) is a diversified company servicing the legal cannabis, hemp and CBD markets via its lifestyle brands. Recently, the company announced that its Grow Contractors (GC) division has exceeded fourth quarter revenues of 2017 (February 1 - April 30, 2017) in just the first month of the 2018 fiscal year (May 2017). In the first month of FY2018, GC surpassed earnings with $1.3 million in gross revenue. Grow Contractors is MCIG's group of Cannabis consultants, engineers, architects, contractors, and grow experts combining over 100 years of experience and talent combined, to bring efficient and high-quality grow spaces. Grow Contractors offers a practical approach to cannabis design, construction, and operations to create profitable and compliant facilities, and a custom tailored approach to every client.
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Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the 'Site') is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. Financialbuzz.com has not been compensated directly by any of the companies mentioned here in this editorial. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For this release, FinancialBuzz.com has been compensated five thousand dollars for financial news dissemination and PR services by a third party non affiliate for SinglePoint, Inc. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use. Please visit: http://www.financialbuzz.com For further information:
Media Contact: [email protected] +1-877-601-1879
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