Legal Cannabis Market Sales Estimated to Grow

Wednesday, October 4, 2017 General News
Email Print This Page Comment bookmark
Font : A-A+ News Commentary

NEW YORK, October 4, 2017 /PRNewswire/ --

A report by Arcview Market

Research indicates that legal cannabis will grow at 22% CAGR in 2017, as eight states that voted to open or expand their cannabis markets on Election Day in November 2016. According to the report, the industry accelerated at a remarkable pace in 2016.
North American consumers spent $6.7 billion on legal cannabis products, or up 34% from 2015. The 34% compound annual growth rate (CAGR) from 2014 to 2016 was driven primarily by Colorado and Washington initiating adult-use sales. Global Payout, Inc. (OTC: GOHE), SinglePoint, Inc. (OTC: SING), GreenGro Technologies, Inc. (OTC: GRNH), OWC Pharmaceutical Research Corp. (OTC: OWCP), AXIM Biotechnologies, Inc. (OTC: AXIM).

A research published by New Frontier Data shows how the pharmaceutical market will be influenced by medical cannabis. "The United States constitutes 35% of the global pharmaceutical market, the largest market in the world, and a major driver of the U.S. economy. It is one of many industries that will be impacted by the growth of the legal cannabis market and we are already starting to see that trend in legal medical states where use of key prescription drugs is down by 11%. If cannabis were to be adopted nationally, we would begin to see a trend of patients turning to medical cannabis as a substitute or complement to pharmaceuticals," said Giadha Aguirre De Carcer, CEO & Founder, New Frontier Data.

Global Payout, Inc. (OTC: GOHE) announced yesterday that its majority owned subsidiary, MoneyTrac Technology, Inc. has completed the execution of a joint venture partnership agreement (the "JV") with MediaTechnics Corporation's (OTCPink: MEDT) majority owned subsidiary, BlazeNow Inc.

The execution of the JV comes shortly after the announcement on September 13, 2017 that the companies had signed a Letter of Intent to enter into advanced discussions about the potential establishment of a JV as means of providing them the basis to work in a collaborative effort to advance each of their existing business objectives. Included in this JV is a two-year term with revenue share agreement for sales facilitated by the MoneyTrac Sales and Marketing team within the Western US region.

Referred to as the "Yelp" of the cannabis industry by NY Daily News, BlazeNow is an advertising and data collection platform that connects cannabis-related businesses with patients and customers through its iOS and Android-based applications and website. With the establishment of the JV, MTRAC will begin working with BlazeNow on the development and effective deployment of a variety of marketing strategies to help the BlazeNow brand establish a stronghold in an area of the cannabis industry that is primed to benefit from its application and technology. Additionally, the MTRAC team will also seek to fortify BlazeNow's technology through features available within its Virtu Network Solutions platform.

"The application technology developed by BlazeNow has the potential to become one of the most valuable resources to patients, consumers, and retailers in the cannabis industry," said MTRAC COO, Vanessa Luna. "We recognized this potential from the first day we were introduced to Mr. Carr (BlazeNow CEO, Jeremy Carr) and his team, and through this newly established joint venture, we are excited to put the business, networking, and technology tools we have acquired to use in helping the BlazeNow brand breakthrough and flourish within the industry," Ms. Luna further remarked. SinglePoint, Inc. (OTC: SING) is providing products and services to the cannabis industry through its subsidiary company SingleSeed. On September 06, 2017, the company announces the acquisition of Dr. FeelGood, a profitable cannabis distribution company headquartered in Phoenix, Arizona. Dr. FeelGood is a leading distribution company with expansion plans to add proprietary delivery and ordering technology application. Per the agreement terms, SinglePoint will acquire fifty-one percent (51%) of the company in a combination of cash and stock, which will allow SinglePoint to recognize all revenue. The acquisition will add an additional revenue stream to SinglePoint, solidifying the company's revenue-by-acquisition strategy. GreenGro Technologies, Inc. (OTC: GRNH) is a national leader in both indoor and outdoor aquaponic and hydroponic systems and grow rooms, with specific domain expertise in agricultural science systems serving both the consumer and commercial farming markets. Recently, the company announced that it has completed the buildout of its flagship igot420-branded marijuana dispensary and grow, located in North Hollywood, California, on-time, within budget and in advance of its expected grand opening, scheduled for mid-October 2017. The grand opening of the Company's flagship igot420 dispensary will also represent a new revenue stream for the Company consisting of leases and management contracts.

OWC Pharmaceutical Research Corp. (OTCQB: OWCP) through its wholly-owned Israeli subsidiary, One World Cannabis Ltd., is conducting medical research and clinical trials to develop cannabis-based pharmaceuticals and treatments for conditions including multiple myeloma, psoriasis, fibromyalgia, PTSD, and migraines. On July 10, 2017, the company announced that its wholly-owned subsidiary, One World Cannabis Ltd., has filed a patent application with the European Union Patent and Trademark Office for its active cannabinoid-based psoriasis topical cream. This action by OWC is a key step in the Company's continuing program to fully protect its intellectual property. OWC's strategy in seeking to fully protect its IP, including the filing of this European patent application will enable the Company to accelerate its ongoing discussions and negotiations regarding scientific, medical and commercial collaboration.

AXIM Biotechnologies, Inc. (OTCQB: AXIM) focuses on the research, development and production of cannabis-based pharmaceutical, nutraceutical and cosmetic products. The company's flagship products include CanChew®, a CBD-based controlled release chewing gum, CanChew+ containing 50 mg of CBD undergoing clinical trials in patients with IBS and MedChew Rx, a combination CBD/THC gum that is undergoing clinical trials for the treatment of pain and spasticity associated with multiple sclerosis. On August 2, 2017, the company announced that it has entered into a Clinical Study Agreement (CSA) with the University of British Columbia in Canada to begin a clinical trial with its CanChew Plus® cannabidiol (CBD) chewing gum product to treat drug-induced psychosis in adult patients.

Subscribe Now! Watch us report from NYSE

Follow us on Twitter for real time Financial News Updates:

Follow and talk to us on Instagram:

Facebook Like Us to receive live feeds:

About, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, creates 100% unique original content. also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on (the 'Site') is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content),, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. has not been compensated directly by any of the companies mentioned here in this editorial. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. receives fees for producing and presenting high quality and sophisticated content on along with other financial news PR media services. does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For this release, has been compensated three thousand seven hundred fifty dollars for financial news dissemination and PR services by a non-affiliate third party for global payout, inc. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. will always disclose any compensation in securities or cash payments for financial news PR advertising. does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security., members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use. Please visit:

For further information: Media Contact: +1-877-601-1879



Post your Comments

Comments should be on the topic and should not be abusive. The editorial team reserves the right to review and moderate the comments posted on the site.
* Your comment can be maximum of 2500 characters
I agree to the terms and conditions

News A - Z


News Search

Medindia Newsletters

Subscribe to our Free Newsletters!

Terms & Conditions and Privacy Policy.

Find a Doctor

Press Release Category

Press Release Archive

Stay Connected

  • Available on the Android Market
  • Available on the App Store