Rising Number of Medicinal and Recreational Cannabis Dispensaries Creating New Revenue Opportunities

Thursday, July 13, 2017 Drug News
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MarketNewsUpdates.com News Commentary

PALM BEACH, Florida, July 13, 2017 /PRNewswire/ --

The share

of Americans who still favor legalizing the use of marijuana continues to increase across the country as the newest and higher quality products and services are introduced into the market. The industry is projected to create more jobs and a recent report
from New Frontier Data projects that by 2020 the legal cannabis market should create more than 250,000+ jobs. The legal cannabis market is emerging into a major economic driver and job-creation engine for the U.S. economy as companies race to take full advantage of new frontier such as: Leafbuyer Technologies, Inc., PotNetwork Holding Inc. (OTC: POTN), OWC Pharmaceutical Research Corp. (OTC: OWCP), Medical Marijuana Inc. (OTC: MJNA), mCig Inc. (OTC: MCIG) and Player's Network Inc. (OTC: PNTV)

Leafbuyer Technologies, Inc. (Trading on the OTC Market under the symbol LBUY) announced today a collaboration agreement with SpringBIG, bringing together a powerful suite of marketing tools for legal medical and recreational dispensaries across the United States. Leafbuyer, known as the leading cannabis deals network, drives business to dispensaries and product clients through their online platform. SpringBIG, an innovator in loyalty marketing technology, utilizes SMS, mobile applications, and other tools to encourage repeat business for small companies. Both parties praise the partnership as a natural fit that will provide immense value to current and future dispensary clients. "Dispensaries typically lack advanced sales and marketing tools to capture new customers and keep them returning that larger national retailers possess. This partnership between SpringBIG and Leafbuyer helps to level the playing field for the cannabis retail community," said Jeffrey Harris, Co-founder and CEO, SpringBIG. Read this and more news for Leafbuyer Technologies at: http://www.marketnewsupdates.com/news/lbuy.html

Typical Leafbuyer consumers are searching for new medical or adult-use dispensaries based on reputation and attractive special offers, while SpringBIG operates in the realm of retention. "Given the challenges of marketing legal cannabis businesses, dispensaries are realizing the value of customer retention tools. Providing a cost-effective attraction and retention tools will aid our rapid expansion into all states with legal cannabis," said Kurt Rossner, CEO for Leafbuyer. In addition to targeting new markets, both companies will offer the joint services to their current client base. The additional services and revenue stream should further strengthen Leafbuyer's position as a leader in the industry. While other online advertising and loyalty solutions exist for cannabis businesses, "This partnership is truly one-of-a-kind," said Mark Breen, Leafbuyer VP of Business Development. "Leafbuyer clients can grow their customer lists organically while avoiding paying costly monthly fees like other SMS loyalty service providers."

In other industry developments and market trading activity of note:

PotNetwork Holding, Inc. (OTC: POTN) is very pleased to announce the reacquisition of PotNetwork.com, an online resource originally designed to become a leading industry specific news and content provider for the cannabis marketplace. After prior management changes, and a shift in corporate focus, PotNetwork.com was previously sold in March 2016.

According to Forbes Magazine, a controlling interest of High Times Magazine, an industry pioneer in the counter-culture arena, was acquired at a price that values the magazine at $70 million. PotNetwork.com is being completely renovated in preparation of creating a presence in this cannabis digital news and entertainment sector. According to the report in the NY Times, Tommy Chong stated, "It's a sign of the times." The comedian, who has appeared on High Times' cover a record eight times, continued "Weed's legal and there's a million High Times out there." While cannabis is medicinally legal in more than half of the states in America and recreationally legal in eight states, High Times launched when marijuana was viewed akin to heroin.

PotNetwork.com was re-acquired to be fully developed into a counter-culture, cutting-edge digital magazine, publishing up-to-date news and articles on the cannabis industry. Upon conclusion of the transaction, PotNetwork.com will operate as a wholly-owned subsidiary of the Company. Management has initiated plans to revamp the graphic design, diversify and enrich PotNetwork.com's editorial content to include a full range of industry and related consumer topics. It is anticipated that such enhancements, when fortified by a targeted marketing campaign, will serve to increase web traffic and page views, ultimately monetizing the site as a comprehensive industry informational resource. Simultaneously, Management believes such actions will enhance and further cement the 'PotNetwork' brand with its target audience across the industry.

OWC Pharmaceutical Research Corp. (OTCQB: OWCP) closed up over 14% at $0.48 on Wednesday with over 1.9 million shares traded on the day. The company recently announced that its wholly-owned, Israel-based subsidiary, One World Cannabis Ltd. (OWC), has filed a patent application with the European Union Patent and Trademark Office for its active cannabinoid-based psoriasis topical cream. (The patent application number is EP 17178303.8).

Medical Marijuana Inc. (OTC: MJNA) closed Wednesday up with 6.3 million shares traded by the market close. The company recently announced that the second quarter of 2017 generated the largest revenue quarter in the Company's history. Additionally, the Company celebrated the largest-ever single month of revenue in June 2017 as well as the largest sales month and quarter for wholly-owned subsidiary Kannaway. The Company saw a gross revenue increase from $1,660,633 in Q2 2016 to $6,131,415 in Q2 2017, a quarter-over-quarter increase of 269% making it the largest quarter in the Company's history. The Company also saw year-to-date and year-over-year revenue increase from $3,177,103 to $9,651,088 an increase of 203%.

mCig Inc. (OTCQB: MCIG) closed up over 14% with north of 4.2 million shares traded on Wednesday by the market close. The company recently announced that one of its division, the Cannabis Supply Division, completed $100K in sales during the last week of June. The marijuana market in Nevada has exceeded all expectations since the sale of cannabis for recreational purposes generated $3 million in just the first 3 days of July. MCIG's cannabis supply division was one of the first suppliers of state mandated packaging for dispensaries and grow facilities in Nevada. Prior to July 1st, MCIG's supply division built its sales team, product line and customer base, doubling its revenues (100% month over month) and building inventory in anticipation of the legal recreational market. Since this roll out in Nevada the supply division sales have increased 300%.

Player's Network Inc. (OTCQB: PNTV) closed up over 9% on Wednesday with a volume of 6.9 million shares traded on the day. Player's Network, Inc., a diversified holding company operating in media and marijuana, a few weeks ago announced the availability of its Green Leaf Farms rosin products at the Pisos Dispensary, and its celebratory initiatives as the State of Nevada commences legal recreational marijuana use. The State of Nevada - especially the City of Las Vegas - is emerging as the next 'Amsterdam,' and is expected to become the largest recreational marijuana market in the world. To ring in this historical occasion, Weed TV will cover, as part of its upcoming 'High Stakes' television series, a special event from Pisos Dispensary. For maximum exposure, Weed TV will cover the event via live video broadcast and social media updates and livestreams.

DISCLAIMER: MarketNewsUpdates.com (MNU) is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. MNU is NOT affiliated in any manner with any company mentioned herein. MNU and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. MNU's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. MNU is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed MNU has been compensated two thousand three hundred dollars for news coverage of the current press release issued by Leafbuyer Technologies, Inc. by the company. MNU HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

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SOURCE MarketNewsUpdates.com

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