Medical and Recreational Cannabis Product Sales Projected to Rise

Tuesday, February 20, 2018 Drug News
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NEW YORK, February 20, 2018 /PRNewswire/ --

According to a recent

report from Brightfield Group, the global cannabis market is presently worth $7.7 billion and is projected to reach $31.4 billion by 2021. The United States
accounts for about 90 percent of the whole market. But the U.S. domination of the market is expected to decrease to approximately 57 percent due to legalization of cannabis products in other nations. Canada is considered as one of the largest markets for cannabis products. Canada plans to legalize recreational cannabis later this year. California's new recreational cannabis laws were officially implemented on January 1st, 2018. According New Frontier Data state's legal (cannabis) industry is forecast to grow from $2.8 billion in 2017 to $5.6 billion in 2020. Marijuana Company of America, Inc. (OTC: MCOA), American Cannabis Company, Inc. (OTC: AMMJ), Mountain High Acquisitions Corp. (OTC: MYHI), Surna Inc. (OTC: SRNA), Freedom Leaf, Inc. (OTC: FRLF)

The legalization of adult-use sales in California will lead to the creation of nearly 99,000 cannabis industry jobs in the state by 2021, about a third of all cannabis jobs nationwide, and 146,000 jobs overall when indirect and induced effects are considered. Troy Dayton, CEO of The Arcview Group explained, "The economic excitement around the legal cannabis industry is no longer just theory. Due to the giant impact adult-use legalization is already having in the United States, it's vital for key stakeholders to understand the full impact of legalization, beyond just retail sales numbers."

Marijuana Company of America, Inc. (OTC: MCOA) just announced this morning that, "the release of hempSMART™ Full Spectrum Pet Drops formulated for cats and dogs. Each bottle of hempSMART Full Spectrum Pet Drops is formulated with 250mg of full spectrum non-psychoactive Cannabidiol (CBD) derived from industrial hemp. The new specially formulated product contains naturally occurring CBD derived from hemp seed oil, full spectrum hemp extract, fractionated coconut oil, and a rich bacon flavor."

Donald Steinberg, MCOA's CEO said, "Our new hempSMART product is a natural option for pet owners who care about supporting their animals' healthy energy levels as well as optimizing their health. Our hempSMART product line will continue to expand to other popular areas of consumer interest to give our affiliates what they need to succeed."

In reviewing pet supplement trends for 2017, Watson, Inc.'s Mona Hollums observed that natural pet supplement sales nearly doubled between 2008 and 2014. With the increasing focus on pet health, the market for pet supplements is projected to show significant and continuing expansion. Projections show that U.S. retail sales of pet supplements and nutraceuticals treats will grow 3%-5% annually, bringing the market to $1.6 billion. Globally, the pet supplement market is also expected to grow even further. Between 2016 and 2020, sales are projected to increase over 5% and will continue to yield lucrative investment payouts.  

About Our hempSMART Products Containing CBD - The United States Food and Drug Administration (FDA) has not recognized CBD as a safe and effective drug for any indication. Our products containing CBD derived from industrial hemp are not marketed or sold based upon claims that their use is safe and effective treatment for any medical condition as drugs or dietary supplements subject to the FDA's jurisdiction.

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.

Mountain High Acquisitions Corp. (OTCQB: MYHI) is a holding company focused on the acquisition and development of businesses and other assets within the cannabis sector. On January 26, 2018, the company announced the company's most recent milestones in its plan to provide turnkey infrastructure solutions to licensed cannabis growers and producers in highly promising cannabis markets such as California, Washington, Oregon and Arizona. On January 18, 2018 MYHI entered into an Advisory Agreement with Mr. Dirk Nansen of Bellingham, Washington, with effect from January 1, 2018.  Pursuant to the Agreement, Mr. Nansen is required to identify opportunities in Washington, Oregon, and California through which MYHI can evaluate technologies and pursue the build out of infrastructure assets to be utilized for cannabis cultivation, extraction, or consumer product manufacturing.

Surna Inc. (OTCQB: SRNA) develops innovative technologies and products that monitor, control and or address the energy and resource intensive nature of indoor cannabis cultivation. On November 14, 2017, the company announced operating and financial results for the three and nine months ended September 30, 2017. Revenue for the three months ended September 30, 2017 was $1,566,000 an increase of $395,000, or 34%, compared to the three months ended September 30, 2016. During the three months ended September 30, 2017, the company was awarded new sales contracts totaling $2,385,000, bringing our total new sales contracts awarded for the nine months ended September 30, 2017 to $7,182,000.

Freedom Leaf, Inc. (OTCQB: FRLF) is a leading, go-to resource in the cannabis, medical and recreational marijuana, CBD and industrial hemp industries. On January 31, 2018, the company announced a joint venture supply partnership with NutraFuels, Inc. NTFU was founded in 2010, to manufacture, distribute and market avline of oral spray nutritional dietary products to consumers, retailers and wholesale outlets. Freedom Leaf CEO Cliff Perry announced, "We have created a strong relationship with NutraFuels as they assisted us in the formulation, blending and private labeling our Ayurvedic Breathable Vapor Oils that are the flagship product in our Hempology Ū line of Full Spectrum Whole-Plant Hemp Extracts."

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