NEW YORK, June 22, 2017 /PRNewswire/ --
According to a recent reportby New Frontier Data, the Viridian Cannabis Stock Index gained 236.1% in 2016, or outperforming such mainstream indexes as the Russell 2000 (up 19.5%), the Dow Jones Industrial Average (up 13.4%), the S&P 500 (up 9.5%), and the Nasdaq composite (up
"Investment activity in the legal cannabis marketplace continues to accelerate, both in terms of the aggregate amount of capital being raised and in the frequency of individual tranches. According to the data from our Viridian Cannabis Deal Tracker, the flow of investment capital is beginning to focus in on certain key vertical markets in cannabis and the valuations and deal terms are starting to diverge among these verticals. The combination of New Frontier's industry data and Viridian's financial data in this report provides a very deep and comprehensive perspective on the investment opportunity in the legal cannabis industry," said Scott Greiper, Founder and President of Viridian Capital Advisors.
SinglePoint, Inc. (OTC: SING) on June 20th announced that it has successfully closed a $1 million company friendly Convertible Promissory Note with an institutional investor. Proceeds from the investment will be used to execute on the company's previously announced BitCoin Payments solution, as part of its partnership with First BitCoin Capital (OTC: BITCF). With the new round of funding, SinglePoint management believes the company will be able to move very quickly to develop a crypto currency solution and continue acquisitions in cannabis space.
"This is great timing for SinglePoint. We have many acquisitions deals in the pipeline, and access to this capital will exponentially increase the chances of getting these done. In addition, we have many technical developments that are ready launch. We will be able to develop our solutions and really start driving sales," states Greg Lambrecht, CEO of SinglePoint.
SinglePoint currently offers many integrated business solutions. The addition of BitCoin Payments to its portfolio will help solve the banking issue in the cannabis industry and other high-risk markets. Furthermore, SinglePoint has developed and is releasing a full-scale web development and online marketing solution for dispensaries. The company will use some of this funding to launch its own online marketing system to drive more customers to SingleSeed.com. In the acquisition space, SinglePoint has already acquired several companies in the cannabis vertical, and is currently in discussions with other targets for a potential roll-up.
General Cannabis Corp. (OTCQB: CANN) is the comprehensive resource for the highest quality services available to the regulated cannabis industry. Recently, the company announced the acquisition of GC Finance Arizona, LLC ('GC Arizona') from Infinity Capital West, LLC ('Infinity Capital'). General Cannabis paid $106,001 for the acquisition of GC Arizona. DB Arizona produces and distributes medical marijuana infused products in the state of Arizona. The vast majority of DB Arizona's products to date have been Dixie Brands Inc.'s full line of medical cannabis 'Dixie Elixirs and Edibles'. DB Arizona began production in the fourth quarter of 2016.
Cannabis Sativa, Inc. (OTCQB: CBDS) recently announced that it entered into an agreement to acquire the intellectual property for the White Rabbit brand of cannabis sprays and cannabis mints. The acquisition will include the exclusive and proprietary product formulations, product mixes, manufacturing methods and branding. The White Rabbit product line currently consists of fast acting low dose cannabis oral sprays and popular low dose cannabis mints. Both the spray and the mints are formulated as CBD only, THC only and CBD/THC blends. Dosage ranges include 2.5mg, 5mg and 10mg tablets and sprays with 1:1 and 20:1 variations of each.
AXIM Biotechnologies, Inc. (OTCQB: AXIM) focuses on the research, development and production of cannabis-based pharmaceutical, nutraceutical and cosmetic products. The company's products include CanChew®, a CBD-based controlled release chewing gum, 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 May 2, 2017, the company announced that the company's product development partner Quay Pharmaceuticals Ltd. ('Quay Pharma') has obtained the relevant licenses from the British Home Office to import and work with the controlled drugs that are required to continue the development of AXIM's MedChew Rx® pharmaceutical chewing gum's family of products.
OWC Pharmaceutical Research Corp. (OTCQB: OWCP), through its wholly-owned Israeli subsidiary, One World Cannabis Ltd., (collectively 'OWC' or the 'Company') conducts medical research and clinical trials to develop cannabis-based pharmaceuticals and treatments for conditions including multiple myeloma, psoriasis, fibromyalgia, PTSD, and migraines. OWCP is also developing unique delivery systems for the effective delivery and dosage of medical cannabis. Recently, OWCP and mediq Innovation Partners (mediq) announced an agreement for the introduction of OWCP's active cannabinoid-based topical psoriasis cream to the German market. mediq's objectives for OWCP will consist of both scientific collaboration and most importantly the development of a commercial market for OWCP's proprietary, active cannabinoid-based topical psoriasis cream in Germany.
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