Sales of Cannabis Products Projected to Accelerate

Tuesday, April 11, 2017 Drug News
Email Print This Page Comment bookmark
Font : A-A+

FinancialBuzz.com News Commentary

NEW YORK, April 11, 2017 /PRNewswire/ --

Legalization of cannabis

products continue to grow around the world, and as a result the market evolves and becomes more diverse. After the elections in 2016, a total of 28 states have legalized cannabis for medical uses. According to Arcview Market Research, legal cannabis
sales in North America totaled $6.9 billion in 2016. Sales are projected to increase to $21.6 billion by the year 2021, representing a 26 percent compound annual growth rate. Rapid legalization and growing awareness about medical use of cannabis are the major drivers that boost the market. Cannabis for medical use is now legal in 28 states in the United States, while only eight states have legalized recreational cannabis. SinglePoint, Inc. (OTC: SING), Surna Inc. (OTC: SRNA), Medical Marijuana, Inc. (OTC: MJNA), Terra Tech Corp. (OTC: TRTC), American Cannabis Company, Inc. (OTC: AMMJ).

North America is not the only country where the perception towards cannabis products is becoming more acceptable. The global medical marijuana market is expected to reach a value of USD 55.8 billion by 2025, according to a new report by Grand View Research, Inc. The growing number of countries legalizing the use of medical marijuana in various parts of the world is one of the key factors driving the usage rate of cannabis in various therapeutic applications, such as pain management, appetite enhancement, and reducing eye pressure.

SinglePoint, Inc. (OTC: SING) on March 14th announced that it "has closed its first round of funding to acquire a portion of Jacksam Corp., dba Convectium, the developer of a unique oil filling system poised to revolutionize the cannabis market. Convectium projects full-year 2017 sales of $3.5 million, a triple-digit increase over the year prior. The acquisition represents the first of many strategic investments SinglePoint intends to make to diversify its revenue streams in the multi-billion dollar cannabis industry.

As previously announced, SinglePoint will invest a stock and cash consideration totaling $800,000 to help fund the growth of Convectium and the marketing of its revolutionary 710Shark and 710Seal system. Developed by Convectium, the system is capable of filling and packaging more than 100 cartridges or disposable vape pens in 30 seconds, making it the fastest and only filling and sealing system of its kind. Convectium also offers a line of B2C products, which SinglePoint will sell online through its SingleSeed.com subsidiary."

"We have evaluated numerous investment prospects in the cannabis space, and found there is nothing that compares to this opportunity we have with Convectium," states SinglePoint CEO, Greg Lambrecht. "With this transaction, we will acquire a stake in a cannabis business that never touches a marijuana plant. This is the strategy we will use as we move forward to hedge us against changing federal and state laws."

Surna Inc. (OTCQB: SRNA) develops and markets novel energy and resource-efficient solutions, including the company's signature water-cooled climate control platform, which meet the highly specific demands of the cannabis industry for temperature, humidity, light and process control. On February 28th, 2017, the company signed a contract with Vancouver's Sante Veritas Therapeutic to design and provide equipment for the environmental control system in its first commercial cultivation facility. Surna CEO Trent Doucet said: "Cannabis for medical use is legal throughout all of Canada, making the market an outstanding opportunity for continued growth…We now have five clients in Canada, and our sales team continues to see significant activity from both new market entrants as well as existing clients planning expansion."

Medical Marijuana, Inc. (OTC: MJNA) is a premier cannabis and hemp industry innovator, with a team of professionals to source, evaluate and purchase value-added companies and products, while allowing them to keep their integrity and entrepreneurial spirit. Recently, the company announced that the company is sponsoring the 5th Annual National Medical Cannabis Unity Conference, where executives will participate with other experts and scientists on panels focusing on new developments in medical cannabis research. The 5th Annual National Medical Cannabis Unity Conference, taking place in Washington, D.C. from April 7-11, 2017, will focus on the creation of common-sense policies and approaches to safe medical cannabis access and use.

Terra Tech Corp. (OTCQX: TRTC) operates through multiple subsidiary businesses including: Blüm, IVXX Inc., Edible Garden, MediFarm LLC and GrowOp Technology. Blüm's retail medical cannabis facilities focus on providing the highest quality medical cannabis to patients who are looking for alternative treatments for their chronic medical conditions. On March 7th, 2017, the company announced the construction of a new 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.

American Cannabis Company, Inc. (OTCQB: AMMJ) a full-service business-to-business consulting solutions provider, and seller of ancillary products to the cannabis industry, developed and owns a portfolio of branded products including: The Satchel™, Sohum Living Soils™, The Cultivation Cube™ and The High Density Cultivation System™. On March 23rd, 2017, the company announced it has secured its first client in the Canadian province of Alberta. The Company will be working with this client to strategically plan business operations as well as develop a robust financial model in effort to lay the foundation for license acquisition.

Please sign up now at http://www.FinancialBuzz.com to receive alerts on trending financial news from all these companies. "The Latest Buzz in Financial News"

Subscribe Now! Watch us report from NYSE https://www.youtube.com/FinancialBuzzMedia

Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz

Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz

Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/

About FinancialBuzz.com 

FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

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 four thousand two hundred 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] Telephone: +1-877-601-1879

Url: http://www.FinancialBuzz.com

 

SOURCE FinancialBuzz.com



Post your Comments

Comments should be on the topic and should not be abusive. The editorial team reserves the right to review and moderate the comments posted on the site.
* Your comment can be maximum of 2500 characters
I agree to the terms and conditions

News A - Z

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

News Search

Medindia Newsletters

Subscribe to our Free Newsletters!

Terms & Conditions and Privacy Policy.

Find a Doctor

Press Release Category

Press Release Archive

Stay Connected

  • Available on the Android Market
  • Available on the App Store