Cannabis Market Shows Strength as Consumers Increasingly Aware of Medical Benefits

Thursday, March 1, 2018 Drug News
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NEW YORK, March 1, 2018 /PRNewswire/ --

According to Hexa Research,

the U.S. medical cannabis market was valued at USD 5.44 billion in 2016 and is anticipated to be valued at USD 19.48 billion by 2024. The projected growth is a direct effect of the growing acceptance
of cannabis products around the country. More and more consumers are aware of the medical advantages associated with cannabis, particularly for patients dealing with cancer, diabetes and chronic pain. Symptoms and conditions that may be treated by cannabis include, cancer, HIV, AIDS, Alzheimer's disease, and multiple sclerosis. Chronic pain accounted for 46 percent of the U.S. cannabis medical market share in 2016. According to the research, the solid cannabis edibles segment in 2016, within the U.S. market generated $2.47 billion in revenue and is expected to continue to dominate the cannabis industry to 2024. Global Payout, Inc. (OTC: GOHE), Freedom Leaf, Inc. (OTC: FRLF), mCig, Inc. (OTC: MCIG), MassRoots, Inc. (OTC: MSRT), GreenGro Technologies, Inc. (OTC: GRNH)

California's new recreational cannabis laws went into effect on January 1st, 2018. A report by Fortune indicates that, "In order to collect $1 billion a year in taxes, the state will need to reach a projected $7 billion in annual legal recreational cannabis sales. At that rate, California would easily be the country's largest legal marijuana market, as the entire legal cannabis industry in the U.S. is expected to pull in roughly $10 billion in total sales for 2017. That number would almost certainly get a boost in the coming years, as legal markets grow in California and other states, such as Nevada and Massachusetts."

Global Payout, Inc. (OTC: GOHE) today announced breaking news that, "its PotSaver brand has expanded its advertising net to include businesses outside of cannabis throughout the communities it serves with the intent of delivering more value to its growing base of patrons and subscribers. To support this expansion, PotSaver is currently engaged in the process of expanding its salesforce to more effectively explore the many different market sectors and ancillary services that can be tied into their publication.

A Cannabis Marketplace Report published by Consumer Research Around Cannabis has reported that there are about 13.7 million adults over the age of 21 in the Los Angeles Greater Metropolitan Area and approximately 5.3 million of those people are cannabis consumers. According to Ackrell Capital, California's legal medical marijuana industry has already topped $3.8 billion, and with the flourishing of new ancillary services in legal support, marketing, business development and many others, it is pushing a massive demand for employees in order to meet the demands of a rapidly expanding consumer marketplace."

Said MTRAC CEO, Vanessa Luna: "PotSaver was initially established to connect consumers throughout the cannabis industry with value-driven deals on the many different products they purchase for both recreational and medicinal purposes. However, as the industry has morphed into the multi-billion-dollar industry it is today, we recognize that this is now, more than ever, a community made up of your everyday consumers who are looking for more than just deals on cannabis products, but who are also eager to find deals on other products and services that are offered by the many different businesses in their local communities, and we are committed to developing PotSaver into a resource they can rely on for all of this."

Freedom Leaf, Inc. (OTCQB: FRLF) is a leading, go-to resource in the cannabis, medical and recreational marijuana, CBD and industrial hemp industries. On January 31, 2018, the company announced a joint venture supply partnership with NutraFuels, Inc. Freedom Leaf CEO Cliff Perry announced, "We have created a strong relationship with NutraFuels as they assisted us in the formulation, blending and private labeling our Ayurvedic Breathable Vapor Oils that are the flagship product in our Hempology Ū line of Full Spectrum Whole-Plant Hemp Extracts."

mCig, Inc. (OTCQB: MCIG) is an innovative biotech company, which focuses on cannabis-industrial hemp, cannabinoid research, and development, nutraceuticals and pharmaceuticals. On January 29, 2018, the company announced plans to launch an innovatively advanced hemp CBD-based formula for pets. Doctor of Bioengineering and Cardiology at Mt. Sinai Medical Center, Arkady Uryash, will be leading this new initiative in the rapidly expanding sixty-billion-dollar CBD pet industry market. "CBD-based pet products are seeing heightened demand across the globe. Trial studies have shown that CBD oils can help reduce anxiety, inflammation, and chronic pain while boosting the pet's immune system," Says Arkady Uryash, MD, Ph.D. at Biomedical Research Institute, Mt Sinai Medical Center. "Results have demonstrated rapid positive results in improving condition of pets suffering from these ailments, which is one of the many reasons pet owners are eager to obtain CBD wellness products supported by science and from reputable and trustworthy companies."

MassRoots, Inc. (OTCQB: MSRT) is one of the leading technology platforms for the regulated cannabis industry. Powered by more than one million registered users, the Company's mobile apps empower consumers to make educated cannabis purchasing decisions through community-driven reviews. Its compliance and point-of-sale system, MassRoots Retail, enables cannabis-related businesses to streamline their retail operations and manage compliance reporting to state regulators. With a significant market share of medical cannabis patients in certain markets and more than 30,000 shareholders. On February 14, 2018, the company released the shareholder update from its Chairman and Chief Executive Officer, Mr. Isaac Dietrich: "With a renewed focus on building the best mobile app for cannabis enthusiasts and a fresh infusion of $4.75 million in equity financing, we believe MassRoots is well-positioned to capitalize on emerging cannabis markets in multiple states in countries, which ArcView Market Research projects will reach $24.5 billion by 2021."

GreenGro Technologies, Inc. (OTC: GRNH) is a world class provider of eco-friendly green technologies with specific domain expertise in indoor and outdoor agricultural science systems serving both the consumer and commercial farming markets. Recently, the company announced the highly anticipated grand opening of its Cathedral City-based dispensary through its tenant igot420. The anticipated opening will occur, on "4:20" 2018, with a soft opening scheduled for April 1, 2018. The Company noted that the only matter that could cause a delay would be associated with its application with the State of California for a temporary license to sell recreational cannabis. The Company's current delays were due to necessary modifications made to ensure the dispensary would meet the state of California new design standards for all new microbusiness models.

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