Legal Cannabis Market Expected to Grow Because of Continued Adoption

Thursday, January 25, 2018 Drug News
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NEW YORK, January 25, 2018 /PRNewswire/ --

According to a report

by Forbes, Brightfield Group indicates that the international market for cannabis is projected to hit $31.4 billion by 2021. The global market is estimated to see a compound annual growth rate of 60 percent as other countries
relax their cannabis regulations. The U.S. currently drives 90 percent of global cannabis sales, but its share will drop to 57 percent by 2021. That's in large part thanks to Canada's plans to legalize recreational cannabis by July 2018. California has already legalized recreational products, the sales of which have started earlier this month. Global Payout, Inc. (OTC: GOHE), GB Sciences, Inc. (OTC: GBLX), United Cannabis Corporation (OTC: CNAB), American Cannabis Company, Inc. (QTC: AMMJ), CV Sciences, Inc. (OTC: CVSI)

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) yesterday the company announced breaking news that, "its majority owned subsidiary, MoneyTrac Technology, Inc. ("MTRAC", the "Company"), has executed a Letter of Intent ("LOI") with Eyeconic.tv, an innovative and award winning producer and distributor of interactive digital mediums aimed primarily at providing digital menus, advertising and kiosks to its customers within their businesses.

The execution of the LOI will provide the companies an opportunity to thoroughly explore the possibility of establishing a strategic partnership. MTRAC would look to integrate Eyeconic's digital media platform into the service offerings they continue to develop and enhance for businesses within the cannabis industry. More specifically, MTRAC will look to leverage the vast network of dispensaries and industry specific brands and products it has established through its PotSaver publication to bolster the sales and marketing efforts of Eyeconic's digital media platform throughout the rapidly expanding industry of retail cannabis.

Said MTRAC CEO, Vanessa Luna: "We are very excited to explore the possibility of establishing an official partnership with Eyeconic.TV that would be mutually beneficial to both of our companies in terms of creating new revenue streams as well as becoming a contributing factor to the growth of both of our companies in the cannabis industry. The digital media platform Eyeconic has developed is an impressive and truly valuable advertising and marketing tool for dispensaries and other products and brands throughout our industry, and I believe it is something we can successfully incorporate into our expanding suite of valuable sales and marketing services, in addition to utilizing it to support the continued growth of our PotSaver publication."

The companies intend to dedicate the next several days to completing the necessary due diligence, as well as exploring and analyzing the different angles that would be involved with the establishment of an official sales and marketing partnership. The Company will provide additional information and details as they become available."

GB Sciences, Inc. (OTCQB: GBLX) is a diverse cannabis company, focused on standardized cultivation and production methods; as well as biopharmaceutical research and development. On December 8, 2018, the company announced it currently markets both medical and adult use cannabis products in Nevada under the respected Cultivation Labs brand. By maximizing the production of critical raw materials that can only be derived from the cannabis plant, GB Sciences is able to provide the base materials for their proprietary cannabis-based medical formulations. This breakthrough places cannabis-based medical formulations on a level playing field with traditional medical formulations when it comes to patient studies and clinical trials; a task that, until now, has proven extremely difficult industry-wide. United Cannabis Corporation (OTCQB: CNAB) is a biotechnology company dedicated to the development of phyto-therapeutic based products supported by patented technologies for the pharmaceutical, medical, and industrial markets. The Company has long advocated the application of cannabinoids for medical applications and is building a platform for designing targeted therapies to increase the quality of life for patients around the world. On December 27, 2017, the company announced that it has secured an industrial building in Colorado where the Company will construct a state-of-the-art industrial hemp processing plant to provide contract manufacturing to farmers working under the 2014 Federal Farm Bill and Colorado's Department of Agriculture's Industrial Hemp Program. The multi-function Facility will include extraction, purification, testing and processing equipment, as well as packaging, fulfillment, and secure storage capabilities. American Cannabis Company, Inc. (QTCQB: AMMJ) offers end-to-end solutions to existing and aspiring participants in the cannabis industry. On January 17, 2018, 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. CV Sciences, Inc. (OTCQB: CVSI) operates two distinct business segments: a drug development division focused on developing and commercializing novel therapeutics utilizing synthetic CBD; and, a consumer product division focused on manufacturing, marketing and selling plant-based CBD products to a range of market sectors. On November 14, 2017, the company announced it has been named on Deloitte's Technology Fast 500™, an annual ranking of the fastest growing companies in the technology, media, telecommunications, life sciences and energy tech sectors in North America. 2017 marks CV Sciences' first year named on the Deloitte's Technology Fast 500™ list. Overall, 2017 Technology Fast 500™ companies achieved revenue growth ranging from 135% to 59,093% from 2013 to 2016, with median growth of 380%.

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