The Possible Cannabis Legalization in the Canadian Markets
NEW YORK, November 17, 2016 /PRNewswire/ --
http://www.Financialbuzz.com - In the United States 57% of adults say the use of cannabis should be made legal, while 37% say it should be illegal According to Pewresearch. Also according to a research report which was jointly released by New Frontier and ArcView, the shift in public opinion is expected to be the reason the legal cannabis market is forecasted to grow at a 30% annual growth rate by 2020. Cameo Resources Corp. (OTC: SIDNF), Cannabics Pharmaceuticals Inc. (OTC: CNBX), United Cannabis Corporation (OTC: CNAB), Medical Marijuana Inc. (OTC: MJNA), Terra Tech Corp. (OTC: TRTC)
The share of Americans and Canadians that approve of legalizing the use of marijuana continues to grow. According to Mackie Research Capital Corp. the peak Canadian marijuana market size to be over $2.5-billion in 2020, assuming full legalization down the road, sometime in 2017.
Cameo Resources Corp. (OTC: SIDNF) is a dual listed company here in the U.S. and in Canada. The company is engaged in the business of exploring mineral properties. Recently the company announced the board of directors and management team have been exploring multiple acquisition opportunities in the medical marijuana and CBD (cannabidiol) oil industry. The company has been reviewing legislation in those U.S. states which have approved the growing and sale of marijuana.
Cameo Resources Corp. recently announced that, "the company has signed a Letter of Intent with iWeedz.com of Henderson, Nevada. iWeedz.com is a technology platform that connects consumers with cannabis vendors and promotes local marijuana commerce. The Company will operate its technology platform through its website located at http://www.iWeedz.com and through its mobile application for Apple iPhone operating system (iOS) and Android operating systems. Consumers wishing to use iWeedz must create an account with iWeedz. Once an account is created, the member will be able to use iWeedz to locate local cannabis dispensaries to shop for cannabis products and to communicate with the dispensaries. As the member uses the iWeedz Website and application, the iWeedz technology will gather specific information about the member by tracking accessed content, liked items, purchased items and the member's profile. iWeedz will then use this information to match the member with the right cannabis vendor or to find deals that may be of interest to the member.
The signed letter of intent is for exchange of information with iWeedz.com. There is no definitive agreement signed and no compensation terms are stated in the letter. The letter is to ensure that confidentiality is maintained as Cameo continues to discuss future business opportunities with iWeedz.com.
"Recreational marijuana is now legal in California - and that's a game changer for public health. Though 25 other states have already legalized weed for medicinal purposes and four for recreational purposes, the size and population of California puts its decision in a different league and it could lead the way to figuring out policy around the drug. Current projections have Maine, Nevada, and Massachusetts voting to legalize recreational marijuana, while Arizona voted against legalizing recreational pot. Akash Patel, president of Cameo, remarks that: "Signing of this LOI does not shift the company's focus on its ongoing commitment to mineral exploration. However, we expect to complete our due diligence within the next 45 days and update our shareholders along the way."
Cannabics Pharmaceuticals Inc. (OTC: CNBX) announced results from their latest cancer HTS research concluding that depending upon the THC/CBD ratio, particular Cannabis extracts directly reduce the viability of U87MG glioblastoma cell. The Company believes that results on additional types of cancers will be achieved during December 2016. "The Cannabics' method of diagnosis clearly differentiates between a multitude of varied plant extracts and their apoptotic and necrotic effects by utilizing state of the art HTS (High Through-put Screening) on cells derived from patients' biopsies; the results of which are visualized in "scans" of the before, during and after effect upon the cancer cells themselves" said Dr. Eyal Ballan, Chief Scientist of Cannabics Pharmaceuticals Inc. "When cross linked with patients' medical database and proprietary plant extracts, patients may receive a personalized anticancer therapy combined with the palliative effect of cannabis."
United Cannabis Corporation (OTCQB: CNAB) owns distinct intellectual property involving legalized growth, production, promotion, management, utilization and distribution of medical/recreational cannabis and infused products. United Cannabis's A.C.T. Now Program and patent-pending Prana Bio Nutrient Medicinals delivers an inclusive solution to allow physicians and patients to implement and monitor active therapy protocols. Prana Bio Nutrient Medicinals is a full spectrum cannabinoid system that uses the entire cannabis plant by monitoring cannabinoid ratios, dosing, and multiple non-abrasive delivery procedures.
Medical Marijuana Inc. (OTC: MJNA) products focuses on cannabidiol hemp oil, a legal extract from cultivated hemp plants, that is non-psychoactive, contains a full spectrum of phytocannabinoids, and is high in CBD. Through its subsidiaries, HempMeds® and Kannaway®, their businesses focus on consumer product distribution and has been able to provide hemp oils featuring high CBD to over 200,000 people. Its entire "CBD pipeline" products are free of herbicides, pesticides, or any harmful chemical fertilizers.
Terra Tech Corp. (OTCQX: TRTC) works through two segments which are the Hydroponic Produce and Cannabis Products sectors. The company's subsidiary IVXX™, hand picks and grows the top quality cannabis using free of toxic pesticides, harmful molds and chemical residues. Its products are carefully produced, tested and certified to the uppermost standards of potency and purity. Currently, the company's hand selected strains are the I-Hybrid and S-Hybrid. IVXX offers pure concentrates ranging from Shatter, Wax to Oil, which are all produced in its advanced extraction labs.
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