The Medical Cannabis Market Continues to Grow

Thursday, May 18, 2017 General News
Email Print This Page Comment bookmark
Font : A-A+

FinancialBuzz.com News Commentary

NEW YORK, May 18, 2017 /PRNewswire/ --

According to a new report

by Grand View Research Inc., the global medical cannabis market is expected to reach a value of USD 55.8 billion by 2025. In 2016, Washington D.C. along with 28 states have legalized cannabis for medical use. Such states as Arkansas, Florida, North Dakota, Ohio,
and Pennsylvania were approved to use the drug in medical applications such as chemotherapies and pain management. The growing number of states and countries getting approval for usage in therapeutic applications is one of the crucial factors driving the demand over the coming few years. SinglePoint, Inc. (OTC: SING), OWC Pharmaceutical Research Corp. (OTC: OWCP), Surna Inc. (OTC: SRNA), CV Sciences, Inc. (OTC: CVSI), American Cannabis Company, Inc. (OTC: AMMJ) 

A report by The Arcview Group, indicates that perception of the public regarding cannabis products has drastically changed over the years. According to the report, polls show that 80% of Americans approve of legal access to medical cannabis and 60% approve of full adult use legalization. O?cials have now enough support across the political spectrum to start to move past the stigma previously associated with cannabis products. One key reason supporting legalization, is the weakening of the illicit market. Illicit sales are now being diminished at the fastest rates in the states with the most mature legal adult usage.

SinglePoint, Inc. (OTC: SING) is a holding company specialized in the acquisition of small- to mid-sized companies with an emphasis on new technologies. Yesterday the company announced, that "it has signed a Letter of Intent ("LOI") with Discount Indoor Garden Supply ("DIGS"). According to the LOI, SinglePoint will acquire 90 percent of DIGS in a stock and cash transaction. The acquisition will bring immediate revenues to SinglePoint and positions the Company as a leader in online products, retail stores, cannabis consulting, and equipment in California, home to thousands of cannabis-related businesses and potential customers.

The agreement with DIGS is yet another demonstration of SinglePoint's ability to strategically grow its portfolio of investments in established, high-potential cannabis businesses."

SinglePoint CEO Greg Lambrecht states, "We are committed to identifying and making investments that will strengthen both parties' position in the cannabis industry while building SinglePoint's corporate value. California is a major market opportunity, and we will work to find the right companies, such as DIGS, in which we can invest to gain a stronger foothold in the broader marijuana industry."

DIGS's online store (http://www.DIGSHydro.com) offers a wide range of growing equipment and accessories for individual or commercial plant cultivators. SinglePoint believes there is a major opportunity within this market, as nearly every U.S. state that has legalized the use of medical marijuana also allows licensed patients the option to grow their own plants. Now, licensed consumers can order an all-in-one unit to grow plants in the privacy of their home. DIGS's products also include growing supplies, HVAC setup, grow rooms and accessories, hydroponic garden solutions, and more.

OWC Pharmaceutical Research Corp. (OTCQB: OWCP), through its wholly-owned Israeli subsidiary, One World Cannabis Ltd., conducts medical research and clinical trials to develop cannabis-based pharmaceuticals and treatments for conditions including multiple myeloma, psoriasis, fibromyalgia, PTSD, and migraines. On April 5, 2017, the company announced it has received expressions of interest from the scientific and medical communities world-wide as a result of its recently announce positive preliminary clinical efficacy tests results of its topical cream to treat Psoriasis. OWCP's scientific team previously reported trial results and concluded that post-application of OWC's unique, active cannabinoid-based topical cream formulation, there was up to 70% improvement in a variety of inflammation markers directly associated with Psoriasis. 

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 28, 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 expects to ship and recognize revenue of $835,000 in the third quarter of 2017. "Cannabis for medical use is legal throughout all of Canada, making the market an outstanding opportunity for continued growth," said Surna CEO Trent Doucet. "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."

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. Recently, the company announced that it will be meeting with the U.S. Food and Drug Administration (FDA) on June 15, 2017, to discuss its initial drug candidate (CVSI-007), a chewing gum that combines CBD and nicotine, which the Company believes has the potential to effectively treat smokeless tobacco addiction.

American Cannabis Company, Inc. (OTCQB: AMMJ) offers turnkey and end-to-end solutions to existing and aspiring participants in the cannabis industry. On April 18, 2017, the company announced it has secured its first retainer client (the "Client") in the state of Louisiana. The Client, CB Medical, LLC, ("CB Medical") is a newly formed entity that is one of the applicants for the LSU-sponsored medical marijuana program. CB Medical retained American Cannabis Company to assist them in designing and operating a medical marijuana program for patients in Louisiana in partnership with the Louisiana State University ("LSU") and the Louisiana State University AgCenter.

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 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

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