Marijuana Industry Growth Fueled by Investments and Public Support for Legalization

Wednesday, April 12, 2017 General News
Email Print This Page Comment bookmark
Font : A-A+

NetworkNewsWire Editorial Coverage

NEW YORK, April 12, 2017 /PRNewswire/ --

The number of states in

which the medical and recreational use of marijuana is legal continues to grow. Medical marijuana is now permitted in 28 states and Washington D.C. Last year, the North American legal marijuana industry grew to
$6.7 billion
, a 34 percent increase in just one year, according to Arcview Market Research. With the black market included, sales topped $56 billion. Public support is increasing as well - 57 percent of Americans supported the legalization of marijuana in 2016, up from 52 percent in 2014[(1)]. With the market expanding and public support increasing, there are more opportunities to invest than ever before. SinglePoint, Inc. (OTC: SING) (SING Profile), The Scotts Miracle-Gro Company (NYSE: SMG), General Cannabis Corp. (OTC: CANN), Terra Tech Corp. (OTC: TRTC) and Kush Bottles, Inc. (OTC: KSHB) are just a few companies with major investments in the growing legal marijuana industry.

Focused on the acquisition of small- to medium-sized technology companies, SinglePoint (SING) has an acquisition portfolio with roots in the cannabis industry. Most recently, the company acquired a stake in Convectium, the developer of a unique oil filling and packaging system for cartridges and vape pens. The 710Shark oil filling machine and 710Seal system increase cartridge and vape device output by more than 100x. Eliminating hand filling, the system can fill 100 cartridges in less than 20 seconds, allowing for up to 300 cartridges or disposable pens to be filled every minute. A dual injection system is heated up to 125°C, making the machine capable of handling the thickest of oils. With a growing market presence and consumer demand, Convectium expects its revenue will increase 150 percent in 2017 compared to the year prior.

SinglePoint also owns and runs the web portal, a go-to resource for dispensaries looking to obtain state-of-the-art equipment. The website offers a variety of solutions that cannabis companies can use to grow their own businesses, as well as a thriving blog and online community forum.

The thriving cannabis industry is also benefitting The Scotts Miracle-Gro Company (NYSE: SMG). In its better-than-expected 1Q results announced in January, the company noted strength in consumer demand, which played out particularly well in its hydroponics business. U.S. consumer sales for the first quarter increased 11 percent to $126 million.

"Hawthorne had a solid quarter too, benefiting from both organic unit growth, as well as continued M&A activity. And as most of you know, the marketplace continues to expand for Hawthorne as more states change their laws to authorize cannabis growing. These and other tailwinds leave the brands we've acquired well-positioned for continued success. Since the birth of Hawthorne, we've become even more encouraged by the growth opportunities that exist in hydroponics. The acquisition in the past 24 months of three of the most important brands in hydroponic growing presents new opportunities for us and our shareholders," company CEO Jim Hagedorn said in an earnings call[(2)] transcribed by Seeking Alpha. Based on growth in its core U.S. business and 'continued momentum' from Hawthorne's hydroponic portfolio, Scotts said it expects EPS for fiscal 2017 between $4.10 and $4.30 on sales growth of 6-7 percent.

General Cannabis (OTCQB: CANN) has reported a surge in business too. For Q4 2016, the company reported 69 percent year-over-year revenue growth and noted that legalized recreational use of marijuana provides the company 'tremendous opportunity' for significant expansion in 2017. General Cannabis said ( it is exploring acquisition opportunities in "all areas of regulated cannabis" and plans on launching a marketing and advertising agency focused on the marijuana industry. The company has financing, security, real estate, distribution and consulting divisions, in addition to a focus on the production and retail sides of the business.

Cannabis agriculture company Terra Tech (OTCQX: TRTC) has zeroed in on the medical markets, and it reported total revenue in 2016 of more than $25 million, up 154 percent over 2015. The company specializes in sales and marketing of hydroponic equipment, and it sells locally grown hydroponic produce, herbs and floral products through its Edible Garden subsidiary. This co-op of farmers across the U.S. is growing rapidly, and each farmer grows, packs and ships their hydroponic, non-GMO produce to supermarkets around the country. In addition, several other Terra Tech subsidiaries operate medical marijuana cultivation, production and dispensary facilities in Nevada.

Kush Bottles (OTCQB: KSHB) has also seen its packaging, supplies, and accessories business boom. The company plans to move its headquarters to Garden Grove, California, on July 1, 2017, to a warehouse that is quadruple the size of its previous building. Responding to a growing customer base, Kush Bottles plans to add new services, which will be supported by the expanded floor space that will be available. Serving mostly the business-to-business market, Kush Bottles currently has over 3,000 customers (including dispensaries, growers, and manufacturers) in the U.S. and Canada. Like many others investing in the marijuana industry, the company is not directly involved with cannabis plants or extracts sought by end users.

While many states permit the production, distribution, sale and use of marijuana and related products, cannabis is still illegal per federal law. Even state-legal marijuana businesses may be the subject of federal crack downs, and many fear the Drug Enforcement Administration may act against them at any time.

However, as the marijuana industry grows with mounting public support, companies like SinglePoint are seeing new investment opportunities and increasing revenue. The influencing factors are not only coming from the American public, but other countries as well. Canada, for example, is quickly moving toward nationwide legalization of recreational marijuana[(3)] - the success of which would make it the second country to do so after Uruguay. The move could influence the U.S. federal government's position on cannabis. The legalization of medical and recreational marijuana is opening the door for new business and investment opportunities on many different fronts - for both businesses and investors.

Editorial Sources:

  1. General Social Survey:
  2. Seeking Alpha:
  3. Times:

For more information on Singlepoint please visit: Singlepoint, Inc. (SING) or

About NetworkNewsWire

NetworkNewsWire (NNW) provides news aggregation and syndication, enhanced press release services and a full array of social communication solutions. As a multifaceted financial news and distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today's market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

NetworkNewsWire (NNW)

New York, NY      

Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published:  

DISCLAIMER: NetworkNewsWire (NNW) is a source of content listed above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer or comparison to the profiled issuer. FN Media Group, LLC (FNM), is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with NNW or any company mentioned herein. The commentary, views and opinions expressed in this release by NNW are solely those of NNW and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this content agree that they cannot and will not seek to hold liable NNW and FNM for any investment decisions by their readers or subscribers. FNM and its affiliated companies are a news dissemination and financial marketing solutions provider and are NOT a registered broker-dealer/analyst/adviser, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM was not compensated by any public company mentioned herein to disseminate this press release. NNW's compensation disclosure is incorporated herein and appears in full at  


This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and NNW & FNM undertakes no obligation to update such statements.

Media Contact: FN Media Group, LLC e-mail: +1-954-345-0611

SOURCE NetworkNewsWire

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