Jobs and Salaries in the Legal Cannabis Industry Continues to Grow

Tuesday, September 25, 2018 Drug News
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FinancialBuzz.com News Commentary

NEW YORK, September 25, 2018 /PRNewswire/ --

Data compiled by Mordor

Intelligence suggests that the global cannabis market was valued at USD 7.7 Billion in 2016 and is projected to reach USD 65 Billion by 2023. The number of countries that will legalize the usage
of cannabis for either medical use or recreational use continues to increase. In the U.S., 30 states had legalized medical cannabis, while recreational cannabis is legal in 9 U.S. states. Canada is expected to complete legalization of cannabis and become one of the major markets for cannabis. The report states that countries like Spain, Netherlands, and Italy are also anticipated to legalize cannabis for medical purposes in the near future. New Age Farm (OTC: NWGFF), MassRoots, Inc. (OTC: MSRT), GB Sciences, Inc. (OTC: GBLX), Future Farm Technologies Inc. (OTC: FFRMF), mCig, Inc. (OTC: MCIG) According to another report from cannabis staffing agency Vangst, the number of cannabis jobs and average salary has increased rapidly in recent years due to the increasing legalization of cannabis. Growth in cannabis job listing had surged 690% since the beginning of 2017. While average salary of cannabis positions increased 16.1% between 2017 and 2018. The most hired positions in legal cannabis industry include director of extraction, director of cultivation, compliance manager, trimmer, budtender, dispensary store manager and outside sales representative. Director of cultivation had the largest annual salary range, which is between USD 45,000 to USD 250,500.

New Age Farm (OTC: NWGFF) is also listed on the Canadian Securities Exchange under the ticker (CSE: CROP). Yesterday, the Company announced that it, "has signed a letter of intent dated September 20, 2018 to fully acquire Drink Fresh Water LLC ("DFW"), a CBD infused beverage company. DFW, a California based CBD beverage company currently offers its flagship product "Fresh Water" which is a hemp derived CBD infused, nano amplified purified alkaline water. DFW's products can currently be found in over 100 retail stores across the nation and are additionally available for online purchase. According to the research company Brightfield Group, the global CBD market will top $22 billion in the next four years. This is attracting large investments from international beverage conglomerates looking to enter into the beverage sector of the industry.

Joshua Bartch, New Age Farm's Chief Executive Officer, stated: 'We feel this potential acquisition couldn't have come at a better time as beverage companies are currently soaring due to the huge upside potential in the space. The team at DFW have done an amazing job with the initial build, branding and overall concept of the company. We are looking to continue to build on their success as well as bring it to the next level.' 

The company and DFW are working toward negotiating the terms of the acquisition.

For more information on DFW please visit their website at drinkfreshcbd.com.

About New Age Farm: New Age Farm is an agricultural services company offering unique turnkey growing infrastructure and services for licensed growers and processors of luxury marijuana crops at its agri-campuses in Washington State. In November 2012, the Washington State Liquor and Cannabis Board ("WSLCB") passed Initiative 502 ("I-502"). I-502 authorized the WSLCB to regulate and tax recreational marijuana products for persons over twenty-one years of age and thereby created a new industry for the growing, processing and selling of Washington State-regulated recreational marijuana products. New Age Farm provides innovative solutions for growers and processors in this burgeoning industry."

MassRoots, Inc. (OTCQB: MSRT) is one of the leading technology platforms for the regulated cannabis industry. MassRoots, Inc. recently announced that it has launched its revamped dispensary portal, MassRoots for Business, accessible at business.massroots.com. Through this business portal, dispensaries are able to list locations on MassRoots' dispensary finder, update key information in real-time, and view insightful analytics on their local cannabis market. Subscriptions to MassRoots' business portal start at USD 420 per month, per dispensary location with a twelve-month minimum contract. According to New Frontier Data, there are currently 2,488 licensed dispensary locations in the United States. We believe that if MassRoots is able to engage several hundred in listing contracts, it could be a significant source of revenue and growth for the company. "We expect that subscriptions to MassRoots for Business will be our primary source of revenue this year," stated MassRoots' Chief Executive Officer Isaac Dietrich. "We believe our dispensary portal has the ability to drive a new source of traffic to our dispensary clients and empower them with insightful analytics to better run their business."

GB Sciences, Inc. (OTCQB: GBLX) is a diverse cannabis company, focused on standardized cultivation and production methods; as well as biopharmaceutical research and development. GB Sciences, Inc. has mobilized cannabis industry thought leaders to discuss both the immense potential for cannabis-based therapies and the challenges of delivering on their medical promise under state regulated programs at their fourth annual "Innovation in Medical Cannabis Therapies" symposium on November 9th at the "Keep Memory Alive" Event Center at the Cleveland Clinic's Lou Ruvo Center for Brain Health in Las Vegas, NV. "This event is dedicated to moving cannabis from alternative to mainstream medicine, and we are excited to welcome such a distinguished panel of speakers and guests," said Dr. Andrea Small-Howard, Chief Science Officer at GB Sciences. "Our symposium is an open discussion and a place for innovators to connect and break down the technical and societal barriers to cannabis as medicine."

Future Farm Technologies Inc. (OTCQB: FFRMF) is a Canadian company with holdings throughout North America including California, Massachusetts, Florida, Maine, Puerto Rico and Newfoundland. Future Farm Technologies Inc. recently announced that its partial subsidiary, NexTech AR Solutions and ARHT Media Inc., have signed a worldwide exclusive license agreement to bring ARHT's patented holographic display technology to the cannabis industry. According to Arcview Market Research, the North American cannabis market is estimated to grow from USD 9.2 Billion in 2017 to USD 47 Billion by 2027. With this level of growth, NextTech believes that this holographic technology is both needed and ready for cannabis market deployment. "Imagine walking into your local dispensary and being able to see a 3D, 8-foot image of a cannabis bud spinning around with a 360-degree view of every trichrome, every fiery orange hair, the sugary crystals, chunky knobs enveloped by tiny leaves, without any special glasses," commented Reuben Tozman, Chief Product Officer of NexTech. "With this proven holographic technology, we now can put 3D screens (with no glasses) into the cannabis market allowing cannabis brands to advertise as well as stream live events directly to its consumer bringing them closer to their favorite brand."

mCig, Inc. (OTCQB: MCIG), headquartered in Jacksonville, Florida, is a diversified company servicing the legal cannabis, hemp, and CBD markets via its lifestyle brands. The Company recently announced highlights of its year-end financial results as recorded in its recently filed Form 10K. The Company continues to maintain a strong balance sheet and significant cash position securing its ongoing operations. Net sales increased from USD 4.8 Million in 2017 to USD 7.1 Million in 2018. This represents a 66% increase in net sales - a figure that is in line with mCig's history of stable sales growth, and was driven primarily by mCig's cannabis supply and grow division. The Company also invested significantly in its own growth in 2018, partnering with the FarmOn!Foundation on a 40-acre hemp pilot project, NYAcres. The success of the pilot prompted mCig to expand this model into other states. In May 2018, the Company purchased land in California City and obtained licenses to grow, manufacture and distribute cannabis in the state of California, positioning itself as an early player in the recently legalized state.

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