Data Indicates That Sales of Legal Cannabis Products are Forecasted to Surge

Saturday, November 4, 2017 Drug News
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NEW YORK, November 3, 2017 /PRNewswire/ --

A report by Arcview Market

Research indicates that legal cannabis will grow at 22% CAGR in 2017, as eight states that voted to open or expand their cannabis markets on Election Day in November 2016. According to the report, the industry accelerated at a remarkable pace in 2016.
North American consumers spent $6.7 billion on legal cannabis products, or up 34% from 2015. The 34% compound annual growth rate (CAGR) from 2014 to 2016 was driven primarily by Colorado and Washington initiating adult-use sales. Global Payout, Inc. (OTC: GOHE), Marijuana Company of America, Inc. (OTC: MCOA), Lexaria Bioscience Corp. (OTC: LXRP), Cannabis Science, Inc. (OTC: CBIS), Medical Marijuana, Inc. (OTC: MJNA)

Over 40% of cannabis business owners are planning to take their companies into a new market within the next year, according to a Marijuana Business Daily survey. "Of the business owners intending to expand, the vast majority have identified opportunities in both the medical and recreational markets. With sales continuing to grow rapidly in mature recreational cannabis industries like Colorado and Washington state - and promising new medical markets such as Maryland, Ohio and Pennsylvania set to come online in the near future - it's perhaps not surprising that many entrepreneurs are looking to expand into both medical and adult-use markets," the survey indicates.

Global Payout, Inc. (OTC: GOHE) announced yesterday that its majority owned subsidiary, MoneyTrac Technology, Inc. ("MTRAC", the "Company") has successfully sold the front cover of the premier of the Los Angeles addition of PotSaver, slated for release and mass distribution on January 1st, 2018.

The sale of the front cover also marks one of PotSaver's first revenue generating sales in the Los Angeles market, where the MTRAC team is currently engaged in a full-forced sales and marketing campaign. The marketing and sales ramp-up in Los Angeles is designed to coincide with the legalization of recreational use in the country's largest market, California. The premier publication in January of the Los Angeles addition marks a turning point for PotSaver, and the Company expects this expansion to generate considerable revenue in 2018.

Adorning the front cover will be an unparalleled technology in the cannabis industry. Powered by HGMG, the official launch of the brand is set for mid-November."

"We are thrilled to have completed the sale of PotSaver's premiere Los Angeles edition," said MoneyTrac Technology COO, Vanessa Luna. "With the new recreational law going into effect at the turn of the new year, we are truly in the most exciting, but also crucial time in this industry's young history. By securing their spot on our front cover, HGMG will be placing themselves and their products in front of the eyes of thousands of potentially new customers who will be as motivated and eager as ever to explore everything this market has to offer as soon as it becomes legal on a recreational basis in the new year." 

Marijuana Company of America, Inc. (OTC: MCOA), an innovative hemp and cannabis corporation, and Global Hemp Group, (collectively the "Companies"), on October 10th, announced that they have jointly entered into a letter of intent with Space Cowboys, Inc. ("Space Cowboys") for the purposes of forming a joint venture (the "Joint Venture"). Space Cowboys is an existing fully licensed and compliant hemp derived cannabinoid producer in Colorado. "MCOA has always been interested in developing hemp farms and processing here in the United States. By initiating this Joint Venture, the Company will accomplish this objective along with securing its supply chain of raw cannabinoids. It is an important step in the continued development of the hempSMART brand, which distributes a hemp-based Cannabinoid product line," said CEO, Donald Steinberg.

Lexaria Bioscience Corp. (OTCQB: LXRP) a drug delivery platform innovator, announced on October 31st, it has received a new Notice of Allowance from the United States Patent and Trademark Office ("USPTO") for the use of its technology as a delivery platform for all cannabinoids including THC; fat soluble vitamins; non steroidal anti-inflammatory pain medications ("NSAIDs"); and nicotine. "Issuance of this broad patent will give Lexaria the ability to ramp up our technology out-licensing activities especially within the pharmaceutical sector where the expanded API capacity of our DehydraTECHTM delivery platform will be most applicable," said John Docherty, President.

Cannabis Science, Inc. (OTC: CBIS), a U.S. company specializing in the development of cannabinoid-based medicines, announces the full publication of initial research results on using nanoparticle drones to target lung cancer with radiosensitizers and cannabinoids in the world-renowned cancer research journal, Frontiers in Oncology, released on September 19th.  "This publication reflects our initial work and we are assiduously working on using our drug delivery system to examine the effect of cannabinoids with and without radiation therapy on lung and pancreatic cancer. This work will form part of our applications to the FDA. As we continue this work we will expand our pharmaceutical development program from farm to bedside," said Allen A. Herman, MD, Ph.D. Cannabis Science Inc., Chief Medical Officer (CMO).

Medical Marijuana, Inc. (OTC: MJNA) on August 21st announced that the State of Mexico's government has purchased the company's Real Scientific Hemp Oil-X™ CBD hemp oil products from its subsidiary HempMeds Mexico® to treat 11 of its citizens suffering from varying indications including Refractory Epilepsy and Lennox Gastaut-Syndrome. This is the first time a government in Mexico has purchased CBD products for its citizens. HempMeds® Mexico is a Mexico-based company that made history by being the first company to receive a COFEPRIS federal government import permit for the cannabis product RSHO-X™ for a medical indication. HempMeds® Mexicoplans to work directly with the Mexican government to safely and legally provide access to CBD hemp oil products.

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