NEW YORK, February 22, 2018 /PRNewswire/ --
A recent report by ArcviewMarket Research indicates that consumer spending on legal cannabis in North America is outpacing previous estimates. The report examines the economic multiplier effects through which US consumer spending on legal cannabis in 2021 of $20.8
According to Benzinga, Viridian Capital President Scott Greiper told Benzinga that the cannabis industry received $1.23 billion investments in the first five weeks of 2018, up from $178 million a year earlier. Viridian Capital Advisors' Vice President Harrison Phillips said: "Investments in cultivation and retail this year have been driven predominantly by the Canadian player. This has been happening pretty consistently from late 2016 through 2017. This reflects the necessity to scale cannabis businesses, to get some kind of advantage, and to explore strategic opportunities, both through acquisitions and international expansion."
Global Payout, Inc. (OTC: GOHE) on February 13th announced breaking news according to which, its majority owned subsidiary, MoneyTrac Technology, Inc. ("MTRAC", the "Company"), has expanded the sales team for its PotSaver brand to extend its reach beyond the San Diego market and into surrounding metro areas including Los Angeles.
Following the official start of legal recreational cannabis in California, several municipalities have been slow to issue recreational licenses to dispensaries. In Los Angeles, for example, this has been a significant challenge as local leaders and regulators have been working diligently to bring the vast array of dispensaries throughout the area into the legal fold. The PotSaver brand prides itself on working only with fully regulated and compliant cannabis companies and as such has watched carefully while these issues have been worked through by local regulators. And as several dispensaries across Los Angeles have begun to receive their licenses, PotSaver has proactively moved forward by adding additional members to its LA-based salesforce to ramp-up efforts for the release of its premier LA publication, which is expected to hit markets in the early part of Q2 2018.
Additionally, PotSaver has added significantly to its San Diego publication by expanding its base of advertisers to businesses outside of cannabis, such as some of the local restaurants and businesses that make up the unique and lively community that is San Diego. These developments are in lock step with the recent agreement signed with EyeChronic.TV to incorporate their digital media platforms into the expanding suite of expanding services offered by MTRAC and PotSaver.
MTRAC CEO Vanessa Luna said, "With the recent agreement with EyeChronic, and the newly licensed dispensaries in LA, PotSaver is really in a very unique position to offer advertising services to the dispensaries not available from other companies. In addition to the compliance services offered by MTRAC, and the imminence of an electronic payments solution, MTRAC will be in a very strong position to capitalize on this multibillion dollar market sector."
MTRAC and PotSaver continue to work diligently within the legal recreational market to expand the advertising opportunities and compliance services available to the cannabis industry and are excited to expand into newly formed recreational markets in California.
GB Sciences, Inc. (OTCQB: GBLX) is a diverse cannabis company, focused on standardized cultivation and production methods; as well as biopharmaceutical research and development. Recently, the company 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.
MassRoots, Inc. (OTCQB: MSRT) is one of the leading technology platforms for the regulated cannabis industry. On February 14, 2018, the company released the shareholder update. MassRoots continues to partner with some of the leading companies in the cannabis industry. The company maintains ownership positions in High Times Holdings Corporation and CannaRegs, Inc., the latter of which continues to impressively scale its clientele and revenues in the California market. During the coming weeks, the company's Chairman and Chief Executive Officer expects MassRoots to introduce its first blockchain-powered features for cannabis consumers and businesses, continue to grow its clientele of dispensaries and ancillary businesses, and further scale its market-share of cannabis consumers in key markets in the United States and Canada.
American Cannabis Company, Inc. (OTCQB: 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.
Cannabis Science, Inc., (OTC: CBIS) is a U.S. company specializing in the development of cannabinoid-based medicines. On February 2, 2018, the company announced it has entered into an expanded 5-year, $1.8 million Research Collaboration Agreement (RCA) 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.
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