NEW YORK, February 15, 2017 /PRNewswire/ --
NetworkNewsWire Editorial Coverage: The global marijuana industry continuesto develop at an impressive pace, driven by new developments in the field of cannabis-based pharmaceutics as well as the legalization of both medicinal and recreational use in a growing number of states. As a result, M&A activity in the market is
With a reputation as the world's largest company involved in the production and commercialization of cannabis-based therapeutics, GW Pharmaceuticals (NASDAQ: GWPH) has operations in Europe, Canada, the United States and Asia. Based on its proprietary cannabinoid product platform, GW Pharma has developed therapies for the treatment of various conditions, including multiple sclerosis-related spasticity and neuropathic pain. Its product pipeline is also targeting tuberculosis sclerosis complex, infantile spasms, adult epilepsy, schizophrenia and more. But GW Pharma is one of the few developers of cannabis-based products or therapies that are publicly traded, given the legal hurdles and the lingering public misconceptions facing the industry. This is why a large number of growers, dispensaries and product companies choose to operate privately or to be acquired by other public companies with interests in the industry. As a $3 billion company, GW Pharmaceuticals is a prime example of the massive potential cannabis offers the public market.
SinglePoint (SING), a leading provider of mobile technology and payment solutions, is one such public company, having already established a strong presence on the legal marijuana market via its SingleSeed Payments subsidiary. Although acquired a long time ago, SingleSeed was only recently reawakened to take advantage of the massive growth of the global marijuana industry. The subsidiary was relaunched with the specific goal of providing highly reliable non-cash payment processing and mobile marketing tools to legal cannabis businesses. Offering these businesses the tools they need to thrive, in the absence of clear federal regulations and access to secure financing services, has made SinglePoint one of the most important players in the ancillary marijuana services market.
NetworkNewsWire Exclusive Audio Interview with SinglePoint, Inc. (SING)
Driven by SingleSeed's success, SinglePoint has plans to continue its acquisition strategy and recently announced its Letter of Intent to acquire an interest in Convectium, the manufacturer of an innovative and unique oil filling machine for disposable vape pens or cartridges. Convectium's proprietary systems are unique in that they can fill and package more than 100 disposable pens or cartridges in as little as 30 seconds. The acquisition, likely to be completed before summer, is an important opportunity for SinglePoint's growth strategy.
"One of the reasons to operate as a public company is to use your stock and your ability to raise money to acquire revenue. We're doing exactly what we're supposed to be doing; we are looking for private companies to buy and position them as part of the SinglePoint team. Our broader roll-up strategy is to roll up 10 companies, accelerate our growth, and create multiple revenue streams," SinglePoint CEO Greg Lambrecht explains.
Canada's Vinergy Resources (OTCQB: VNNYF) is also taking active steps toward growing its product portfolio to become a key player in the global cannabis industry. Late last year, the company announced plans to acquire MJ BioPharma, a cannabis technology company focused on the development of new extractions and formulations for medicinal and recreational use, both domestically and internationally. In addition to the MJ BioPharma acquisition, Vinergy has also initiated the acquisition of up to 51 percent of a large European plant with an extensive catalogue of more than 2,000 cannabis and hemp strains. The name of the European company has not yet been disclosed.
ChineseInvestors.com (OTCQB: CIIX), a U.S.-based information technology company focusing on providing real-time financial information in Chinese for the global Chinese population, has also expanded into the medical marijuana industry via subsidiary ChineseCBDoil.com. A new website, targeting a population of roughly 2 billion Chinese-speaking individuals, was launched at the end of January, and the company also has plans to retail hemp oil and related products both in China and across the United States.
Industry analysts forecast the cannabis sector will jump to nearly $11 billion in legal sales by the year 2019, and wide-scale legalization at a state-level has awakened incredible opportunity for public and private entities competing in the market to capture their share. Moving forward, it's likely the burgeoning industry is positioning for a flurry of M&A activity and continued growth.
For more information on Singlepoint, Inc. (SING) please visit: Singlepoint, Inc. (SING)
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