Legal Cannabis and Hemp Based Product Sales Projected to Grow

Tuesday, July 18, 2017 Drug News
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NEW YORK, July 18, 2017 /PRNewswire/ --

According to a research report

by Ameri Research Inc., the global legal cannabis market was valued at $14.3 billion in 2016 and is projected to grow at a CAGR of 21.1% from 2017 to 2024. By 2024, the projected demand of cannabis will continue to rise
for both recreational and medical use, while reaching an estimated global sales value of $63.5 billion. The legal cannabis market is witnessing robust growth thanks to successful legalization and decriminalization campaigns across North America and Europe. The report also points that due to the complex regulatory structure at the state level and federal level, the full potential of the market is not yet realized., Inc. (OTC: CIIX), American Cannabis Company, Inc. (OTC: AMMJ), Terra Tech Corp. (OTC: TRTC), MassRoots Inc. (OTC: MSRT), CV Sciences, Inc. (OTC: CVSI)

A major submarket of the legal cannabis industry is the Hemp and CBD market. According to a research conducted by Hemp Business Journal and Vote Hemp, the Hemp CBD is a market with $130 million in sales with growth at a 53% AGR (Adjusted Growth Revenue). The Hemp CBD category was led by channel sales in natural and specialty products such as smoke shops and online verticals. Eric Steenstra, President of Vote Hemp has referenced, "To date, 31 states have passed legislation that allows hemp farming per provisions set forth in the 2014 Farm Bill, and the U.S. remains the largest consumer market for hemp products worldwide. We need Congress to pass federal legislation to allow commercial hemp farming nationally, to let our farmers and American businesses take advantage of the robust economic opportunity hemp provides.", Inc. (OTCQB: CIIX) just announced earlier this morning that, "it will attend the Southern California Investment Forum ("SCIF") and the FreedomFest 10th Anniversary later this month in Las Vegas.

CIIX will also participate in the 10th annual FreedomFest festival ( scheduled for July 19-22 at the Paris Las Vegas Hotel & Casino. FreedomFest attracts thousands of thought influencers from around the world to gather, talk, strategize, socialize, and network with other experts and leaders. The conference also provides entrepreneurs a platform to showcase their operations to investors looking for opportunities to benefit their portfolio.

"I am delighted that CIIX has been invited to attend the Southern California Investment Forum and FreedomFest 10th Anniversary," says Warren Wang, founder and CEO of CIIX. "FreedomFest is one of the most well-known investor festivals, and we look forward to networking with the impressive turn-out expected for its 10th anniversary. Participating in these two events provides us with a valuable opportunity to meet with investors face-to-face and to introduce our latest business updates and developments to a new audience."

CIIX is in the early stages of penetrating the world's non-industrial hemp market through its retail and e-commerce channels and its network marketing channels that are in development Leveraging a diversified approach, CIIX is positioned to capitalize on rising demand and acceptance in this growing industry. The Company's core business of financial education has also been strengthened by a significant upgrade to its platform.

"We encourage the investment community to come to our booth at FreedomFest to learn more about CIIX and the incredible opportunities that await," says Warren.

American Cannabis Company, Inc. (OTCQB: AMMJ) offers end-to-end solutions to existing and aspiring participants in the cannabis sector. Recently, the company announced that its proprietary product SoHum Living Soils®(SoHum®), has won the 2017 High Times STASH award for "Best Potting Mix." SoHum® is a proprietary "just add water" growing medium that contains 100% natural ingredients and provides the cannabis plant a full buffet of macro/micro nutrients to better achieve genetic potential as well as an optimal cannabinoid profile. Not only does SoHum® optimize the plant's yield and quality, it also eliminates the need for complex feeding schedules and the associated risk(s) of operator error, as well as reducing time and labor. 

Terra Tech Corp. (OTCQX: TRTC) is a vertically integrated cannabis-focused agriculture company. The company recently announced its Dual Use Marijuana business licenses have been approved by the State of Nevada Department of Taxation. This approval allows all four of the Company's Blüm cannabis dispensaries in Nevada to commence sales of cannabis for adult-use, starting Saturday, July 1, 2017. As one of the medical cannabis companies granted approval to expand into the adult-use market, Terra Tech can now serve the needs of both medical patients and adult use customers alike in the same facility. This represents a major expansion of the Company's potential customer base which also includes the 40+ million tourists who visit the Las Vegas Area, and the almost five million tourists who visit Reno, annually.

MassRoots Inc. (OTCQB: MSRT) is one of the largest technology platforms for the regulated cannabis industry. Recently, MassRoots and Odava, Inc. have executed a Definitive Agreement for MassRoots to acquire Odava for cash and shares of MassRoots' common stock. Odava is an industry-leading platform technology that provides compliance, point-of-sale, and supply chain management for the cannabis industry. The combination of the two companies is expected to create one of the largest technology conglomerates in the cannabis market and now will also be providing regulatory compliance, point-of-sale and consumer engagement programs for the entire industry.

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 in manufacturing, marketing and selling plant-based CBD products to a range of market sectors. The company recently provided an update on published outcomes of recent clinical research on pharmaceutical-grade cannabidiol (CBD) pointing to its therapeutic potential as a prescription drug. CV Sciences is devoted to the pioneering development of a prescription synthetic CBD as an adjunct to nicotine-replacement therapy (NRT) in the treatment of smokeless tobacco (ST) addiction. There is no approved therapy for smokeless tobacco addiction. CV Sciences believes that its initial drug candidate to treat smokeless tobacco addiction can dramatically improve patient outcomes for millions.

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