Legal Cannabis Market Sales Estimated to Grow

Wednesday, October 4, 2017 General News
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NEW YORK, October 4, 2017 /PRNewswire/ --

A report by Arcview Market

Research indicates that legal cannabis will grow at 22% CAGR in 2017, as eight states that voted to open or expand their cannabis markets on Election Day in November 2016. According to the report, the industry accelerated at a remarkable pace in 2016.
North American consumers spent $6.7 billion on legal cannabis products, or up 34% from 2015. The 34% compound annual growth rate (CAGR) from 2014 to 2016 was driven primarily by Colorado and Washington initiating adult-use sales. Global Payout, Inc. (OTC: GOHE), SinglePoint, Inc. (OTC: SING), GreenGro Technologies, Inc. (OTC: GRNH), OWC Pharmaceutical Research Corp. (OTC: OWCP), AXIM Biotechnologies, Inc. (OTC: AXIM).

A research published by New Frontier Data shows how the pharmaceutical market will be influenced by medical cannabis. "The United States constitutes 35% of the global pharmaceutical market, the largest market in the world, and a major driver of the U.S. economy. It is one of many industries that will be impacted by the growth of the legal cannabis market and we are already starting to see that trend in legal medical states where use of key prescription drugs is down by 11%. If cannabis were to be adopted nationally, we would begin to see a trend of patients turning to medical cannabis as a substitute or complement to pharmaceuticals," said Giadha Aguirre De Carcer, CEO & Founder, New Frontier Data.

Global Payout, Inc. (OTC: GOHE) announced yesterday that its majority owned subsidiary, MoneyTrac Technology, Inc. has completed the execution of a joint venture partnership agreement (the "JV") with MediaTechnics Corporation's (OTCPink: MEDT) majority owned subsidiary, BlazeNow Inc.

The execution of the JV comes shortly after the announcement on September 13, 2017 that the companies had signed a Letter of Intent to enter into advanced discussions about the potential establishment of a JV as means of providing them the basis to work in a collaborative effort to advance each of their existing business objectives. Included in this JV is a two-year term with revenue share agreement for sales facilitated by the MoneyTrac Sales and Marketing team within the Western US region.

Referred to as the "Yelp" of the cannabis industry by NY Daily News, BlazeNow is an advertising and data collection platform that connects cannabis-related businesses with patients and customers through its iOS and Android-based applications and website. With the establishment of the JV, MTRAC will begin working with BlazeNow on the development and effective deployment of a variety of marketing strategies to help the BlazeNow brand establish a stronghold in an area of the cannabis industry that is primed to benefit from its application and technology. Additionally, the MTRAC team will also seek to fortify BlazeNow's technology through features available within its Virtu Network Solutions platform.

"The application technology developed by BlazeNow has the potential to become one of the most valuable resources to patients, consumers, and retailers in the cannabis industry," said MTRAC COO, Vanessa Luna. "We recognized this potential from the first day we were introduced to Mr. Carr (BlazeNow CEO, Jeremy Carr) and his team, and through this newly established joint venture, we are excited to put the business, networking, and technology tools we have acquired to use in helping the BlazeNow brand breakthrough and flourish within the industry," Ms. Luna further remarked. SinglePoint, Inc. (OTC: SING) is providing products and services to the cannabis industry through its subsidiary company SingleSeed. On September 06, 2017, the company announces the acquisition of Dr. FeelGood, a profitable cannabis distribution company headquartered in Phoenix, Arizona. Dr. FeelGood is a leading distribution company with expansion plans to add proprietary delivery and ordering technology application. Per the agreement terms, SinglePoint will acquire fifty-one percent (51%) of the company in a combination of cash and stock, which will allow SinglePoint to recognize all revenue. The acquisition will add an additional revenue stream to SinglePoint, solidifying the company's revenue-by-acquisition strategy. GreenGro Technologies, Inc. (OTC: GRNH) is a national leader in both indoor and outdoor aquaponic and hydroponic systems and grow rooms, with specific domain expertise in agricultural science systems serving both the consumer and commercial farming markets. Recently, the company announced that it has completed the buildout of its flagship igot420-branded marijuana dispensary and grow, located in North Hollywood, California, on-time, within budget and in advance of its expected grand opening, scheduled for mid-October 2017. The grand opening of the Company's flagship igot420 dispensary will also represent a new revenue stream for the Company consisting of leases and management contracts.

OWC Pharmaceutical Research Corp. (OTCQB: OWCP) through its wholly-owned Israeli subsidiary, One World Cannabis Ltd., is conducting medical research and clinical trials to develop cannabis-based pharmaceuticals and treatments for conditions including multiple myeloma, psoriasis, fibromyalgia, PTSD, and migraines. On July 10, 2017, the company announced that its wholly-owned subsidiary, One World Cannabis Ltd., has filed a patent application with the European Union Patent and Trademark Office for its active cannabinoid-based psoriasis topical cream. This action by OWC is a key step in the Company's continuing program to fully protect its intellectual property. OWC's strategy in seeking to fully protect its IP, including the filing of this European patent application will enable the Company to accelerate its ongoing discussions and negotiations regarding scientific, medical and commercial collaboration.

AXIM Biotechnologies, Inc. (OTCQB: AXIM) focuses on the research, development and production of cannabis-based pharmaceutical, nutraceutical and cosmetic products. The company's flagship products include CanChew®, a CBD-based controlled release chewing gum, CanChew+ containing 50 mg of CBD undergoing clinical trials in patients with IBS and MedChew Rx, a combination CBD/THC gum that is undergoing clinical trials for the treatment of pain and spasticity associated with multiple sclerosis. On August 2, 2017, the company announced that it has entered into a Clinical Study Agreement (CSA) with the University of British Columbia in Canada to begin a clinical trial with its CanChew Plus® cannabidiol (CBD) chewing gum product to treat drug-induced psychosis in adult patients.

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