The Legal Cannabis Market Contributes to Job Creation

Wednesday, March 22, 2017 Drug News
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NEW YORK, March 22, 2017 /PRNewswire/ --

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data shows that the growing legal cannabis industry is strongly contributing to job creation. A recent report by New Frontier Data, which provides comprehensive analysis and reporting for the cannabis industry, projects that by 2020, the legal cannabis
market will create more than a quarter million jobs for American workers. The legal cannabis market was worth an estimated $7.2 billion in 2016, and is projected to grow at a compound annual growth rate (CAGR) of 17%. The medical cannabis market is projected to grow at 13% CAGR through 2025, growing from $4.7 billion in 2016 to an estimated $13.3 billion in 2020. GrowGeneration Corp. (OTC: GRWG), Innovative Industrial Properties Inc. (NYSE: IIPR), MyDx Inc. (OTC: MYDX), Canopy Growth Corporation (OTC: TWMJF), Terra Tech Corporation (OTC: TRTC).

"These numbers confirm that cannabis is a major economic driver and job creation engine for the U.S. economy," said Giadha Aguirre De Carcer, Founder and CEO of New Frontier Data. "While we see a potential drop in total number of U.S. jobs created in 2017, as reported by Kiplinger, as well as an overall expected drop in GDP growth, the cannabis industry continues to be a positive contributing factor to growth at a time of potential decline. We expect the cannabis industry's growth to be slowed down to some degree in the next 3 to 5 years, however with a projected total market sales to exceed $24 billion by 2025, and the possibility of almost 300,000 jobs by 2020, it remains a positive economic force in the U.S."

GrowGeneration Corp. (OTCQB: GRWG) owns and operates specialty retail hydroponic and organic gardening stores. Currently, GrowGen has 12 stores, which includes 10 locations in Colorado, 1 location in California and 1 location in Nevada. GrowGen carries and sells thousands of products, including organic nutrients and soils, advanced lighting technology and state of the art hydroponic equipment to be used indoors and outdoors by commercial and home growers.

On March 14th, GrowGeneration announced that it has secured $1,650,000 in equity financing from Merida Capital Partners, a cannabis infrastructure fund, to continue fueling its expansion plans primarily in California and the West Coast. The transaction was priced at $2.00 with a warrant to purchase common shares at $2.75. The transaction, when factoring in warrant exercises, will total $3.92M in capital into the Company. The warrant is callable when GrowGen trades at $4.12 or higher.

GrowGen's Co-Founder and CEO, Darren Lampert commented on the transaction with Merida Capital Partners, "We are excited to strengthen our partnership with a strategic industry source like Merida Capital Partners. The capital in this transaction will be deployed to expand the company's footprint through our new store opening and acquisition program. As we previously announced, GrowGen is opening its 2nd store operation in Denver South, which is scheduled for April 1, 2017; the acquisition of Sonoma Hydro, which is now complete and successfully operating under the GrowGeneration brand, and we are focused on acquisitions and new store openings in growth markets that include California, Colorado, Washington, and Massachusetts over the next few quarters. Our partners at Merida have supported us from the beginning and continue to be supportive of our business model with this recent capital infusion."

Moreover, on February 15th, GrowGeneration Corp. announced that it has acquired all of the assets of Sonoma Hydro and signed a 5-year lease on an 8,000 square foot facility in Santa Rosa, CA. The Sonoma Hydro location, one of the original hydroponic stores in what is known as the Emerald Triangle, will serve as a retail and warehouse location servicing the growing number of both commercial and home growers in the Northern California market."

Innovative Industrial Properties Inc. (NYSE: IIPR) is focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated medical-use cannabis facilities. The company's acquisition strategy is to act as a source of capital to these licensed medical-use cannabis growers by acquiring and leasing back their real estate locations. By selling the property and building to IIPR, and then leasing it back from the company, growers have the opportunity to redeploy the proceeds into their company's core operation and yield a higher return than they would otherwise get from owning their own real estate.

MyDx Inc. (OTCQB: MYDX) is a chemical detection and sensor technology company whose mission is to help people Trust & Verify® what they put into their minds and bodies. The Company developed MyDx®, a patented, affordable portable analyzer that provides real-time chemical analysis and fits in the palm of the user's hand. The multi-use MyDx analyzer leverages over a decade of established chemical detection technology to measure chemicals of interest. The Company owns a substantial and growing intellectual property portfolio of patents covering its technology. The MyDx AquaDx®, OrganaDx™ and CannaDx™ sensors are now commercialized, and the AeroDx® application is next in line. All sensors will be compatible with a MyDx App that empowers consumers to live a healthier life by revealing the chemical composition of what they eat, drink and inhale.

Canopy Growth Corporation (OTC: TWMJF) is a licensed producer of medical marijuana in Canada, Canopy Growth represented an ideal opportunity to conduct R&D and document the tangible benefits of its technology platform with cannabis. Canopy Growth has partnered with Indoor Harvest Corporation that is involved both in the cannabis industry and in the wider agricultural industry. The Company believes it can then more easily go out and market the platform to countless other companies in the growing cannabis industry.

Terra Tech Corporation (OTCQX: TRTC) is a cannabis-focused agriculture company. The company's subsidiary, Blum™ is a retail medical cannabis facility that provides top quality medical cannabis to patients who are looking for alternative treatments for their chronic medical conditions. Blum's focus is to provide the highest level of personal care coupled with a broad selection of medical cannabis products including flowers, concentrates and edibles. Their friendly and professional staff can assist patients with selecting the perfect product and strain to treat their specific condition. Their experience with aligning patients and products can help accelerate a patient's treatment, helping them avoid lengthy trial and error experimentation.

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