NEW YORK, March 6, 2018 /PRNewswire/ --
According to data providedby Ameri Research Inc., the global legal cannabis market is forecast to be valued at $63.5 billion by 2024, and growing at a CAGR of 21.1% between 2017 to 2024. Currently, the market is going through a period of robust growth
Data shows positive developments for the legal cannabis market across North America and Europe. Tom Adams, Editor-in-Chief at Arcview Market Research and Principal Analyst at BDS Analytics explained, "Our data shows positive indicators across the board for the legal cannabis industry, in North America and around the globe. The passage of the 2016 ballot initiatives and continued maturation of the existing Adult-Use markets are the primary drivers of the growth this year. That's nothing compared to what we can expect in 2018 and beyond from Nevada's tourism, and California and Canada planning to launch Adult-Use sales in 2018."
Global Payout, Inc. (OTC: GOHE) last week announced breaking news, "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."
GrowLife, Inc. (OTC: PHOT) aims to become the nation's largest cultivation service provider for cultivating organics, herbs and greens and plant-based medicines. On February 6, 2018, the company announced that GrowLife HP Soil, the Company's organic certified high-porosity peat mix, was tested and selected for exclusive use in three major indoor cultivation sites across the country, including in one of the nation's largest state-sanctioned cultivation facilities with over 120,000 square feet of production room in Colorado. Denver, Colorado-based Green Man Cannabis, a Colorado cannabis cultivation and dispensary chain, ran a multiple-month test with GrowLife HP that delivered such favorable results that the company has entered into an agreement to exclusively use GrowLIfe's highly oxygenated soil for all further production in the facility. In addition to their operations in Colorado, Green Man has begun using GrowLife HP in its cannabis cultivation facilities in Portland, Oregon, under the brand Phresh and in Las Vegas, Nevada, under the brand Greenway Medical. GrowLife recently announced the opening of a flagship Canadian retail location built in order to meet the growing market demand for indoor cultivation equipment in the emerging legal cannabis Canadian marketplace.
GB Sciences, Inc. (OTCQB: GBLX) is a diverse cannabis company, focused on standardized cultivation and production methods; as well as biopharmaceutical research and development. Last month, the company announced it has been issued its production license and now begins full production operations in the Las Vegas, Nevada facility. Production license partners include Relax With Happy™ ("RWH"), a new venture co-founded by veteran cannabis chef, Deliciously Dee™, and Cura Cannabis Solutions, maker of the best-selling cannabis brand on the West Coast, Select Oil. Given already announced contractual arrangements with those production partners, operations are expected to generate significant monthly free cash flow after a ramp up period of approximately two months.
Cannabis Science, Inc. (OTC: CBIS) is a U.S. company specializing in the development of cannabinoid-based medicines. On February 2, 2018, the company has entered into an expanded 5-year, $1.8 million Research Collaboration Agreement with Dana Farber Cancer Institute, Inc., encompassing operating procedures and related communication activities. The work will be focused on essentially the same clinical targets with expanded work parameters based on current laboratory success. Cannabis Science's current laboratory research forms part of an aggressive drug development pipeline targeting critical ailments from laboratory research to scientific publication that Cannabis Science is developing with its research partners. This strongly demonstrates and effects the Company's strong commitment to cutting-edge cannabinoid science in its pharmaceutical development programs. Cannabis Science has developed this pipeline to ensure that the Company's research work reaches the scientific community and the patients in a timely fashion.
American Cannabis Company, Inc. (OTCQB: AMMJ) offers end-to-end solutions to existing and aspiring participants in the cannabis industry. Earlier this year, the company announced that it has secured a consulting contract with Cloud 9 Apothecary in the state of California. In conjunction with the consulting agreement, ACC will acquire an equity stake in Cloud 9's project that is currently non-operational and in the development stage. This project, to be built-out and completed in Desert Springs, California, will comprise a closed-loop greenhouse containing a 22,000 square foot canopy of premium cannabis cultivars. With the construction of this facility, Cloud 9 Apothecary's plans focus on wholesale cultivation and product manufacturing. Plans to shift into a fully integrated business model, complete with dispensing solutions, will be made in the near future as Cloud 9 plans to scale up operations organically.
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