NEW YORK, April 18, 2018 /PRNewswire/ --
According to Grand ViewResearch, Inc. the global medical cannabis market is expected to reach a value of USD 55.8 billion by 2025. The growing number of states and countries getting approval for using it in therapeutic applications is one of the
In states like California for example, where new recreational cannabis laws went into effect on January 1st, 2018, analysts are projecting an increase in sales of Cannabis. The new industry is also expected to contribute to California's tax revenue. The LA times reported that, California is on the verge of creating a legal market for cannabis worth more than $5 billion that will help make the state a destination for pot-loving tourists.
Marijuana Company of America, Inc. (OTC: MCOA) earlier today announced breaking news that it's, "joint venture project, BV-MCOA Management, LLC, has completed the construction of three greenhouses totaling 7,000 square feet. This represents the completion of more than 23% of the total 30,000 square foot cultivation facility.
The Company entered into the joint venture agreement with Bougainville Ventures, Inc. on March 16, 2017, and subsequently arranged for $800,000 funding for the purchase of the land and the construction of the greenhouses. Transfer of ownership of the property to the joint venture is pending completion of the final subdivision of the property by the Okanogan County Assessor. The construction team constructed a total of 7,000 sq. ft. in greenhouse space in preparation for the 2018 planting season. Final inspection of the security system and greenhouse construction is expected to be completed in the coming weeks. Once the final inspection is approved, the licensed tenant can occupy the facility and begin cultivation.
Donald Steinberg, MCOA CEO said, "We are pleased to see the completion of the first phase of the greenhouse facilities. Once the security system is in place, we are confident the site will pass final inspection allowing our tenant-growers to occupy the facility and begin operations. MCOA continues to explore opportunities to replicate this business model and expand our real estate portfolio."
The joint venture will lease the turnkey property to a licensed tenant, thereby acting solely as a landlord. As a turnkey landlord, the joint venture aims to provide an ideal cultivation environment for its future tenant, and it is anticipated that greenhouse will be completed by the beginning of Q3 2018. The completed 30,000 square foot cultivation facility will have a capacity of approximately 4,000 plants."
Freedom Leaf Inc. (OTCQB: FRLF) recently consummated its previously-announced acquisition of the Irie CBD Product Line, including virtually all: assets, trademarks, formulating equipment, formulas and products. Irie is a California-based CBD, "Cannabidiol", product line that, and has been operating since 2015, it formulates, manufactures and distributes CBD tinctures, CBD edibles, CBD topicals and CBD concentrates to retail markets across the country. Irie boasts a large inventory of more than 25 different products and recorded approximately $1.5 million of revenue in 2017and net profits in excess of $200,000. Irie also leases a full manufacturing and processing facility in Oakland, California. In addition to the Irie CBD line and associated assets and trademarks, the acquisition also includes: the product lines, websites and other assets of: Earth Born, Inc., a California corporation; Earth Born, Inc., a Delaware corporation; Irie Living, a California nonprofit mutual benefit corporation, and Genesis Media Works, LLC, a Utah limited liability company doing business as "Terra's Way," "Irie Hemp Company," and "Earth Born Botanicals."
MassRoots, Inc. (OTCQB: MSRT) is one of the leading technology platforms for the regulated cannabis industry. On March 27, 2018, the company announced it has launched revamped mobile applications in the iOS App Store and Google Play. These mobile applications are expected to serve as a solid foundation for an updated dispensary finder and blockchain-powered utilities to incentivize user-growth and product reviews. Additionally, MassRoots is expected to introduce its revamped business portal and dispensary finder in the near future. Only dispensaries that compensate MassRoots a minimum of $199 per location per month will be listed on the dispensary map and have access to the business portal. ArcView Market Research estimates there are roughly 1,700 dispensary locations in the United States currently, growing to around 2,500 over the next 18 months.
Kaya Holdings, Inc. (OTCQB: KAYS), through subsidiaries, produces, distributes or sells legal premium medical and recreational cannabis products, including flower, concentrates and oils, and cannabis-infused foods. On March 20, 2018, the company announced that it has received notification from the Linn Country Planning and Building Department that its application for site plan review for marijuana production, and its request for a conditional use permit for marijuana processing have been reviewed and deemed complete - a necessary milestone in the process to obtain OLCC licenses to both grow and process medical and recreational cannabis on the Company's 26-acre plot in Lacomb, Oregon. The County has tentatively scheduled a decision on the application for April 20, 2018.
Isodiol International Inc. (OTC: ISOLF) is the market leader in pharmaceutical grade phytochemical compounds and the industry leader in the manufacturing and development of CBD consumer products. Recently, the company announce that it has finalized the definitive agreement and has closed upon the acquisition of strategic global assets. With the closing of this transaction, the Company has expanded its International Management Team and commenced development on a new state-of-the art processing facility in China for the extraction of cannabinoids and terpenes from organic certified hemp. Along with the purchase of these patents, the Company has commenced development on a new state-of-the-art processing facility in Yunnan, China that will have the ability to process over 15 metric-tons of hemp biomass daily for the extraction of cannabinoids and terpenes for use in medical, nutraceutical, food and cosmetic industries utilizing these technologies. The company believes this to be the highest capacity processing facility for CBD isolate in the world and is expected to be completed by Q1 2019.
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