(MENAFNEditorial) iCrowdNewswire - Jan 9, 2018
NEW YORK,—
According to a new report published by Arcview Market Research, retail cannabis sales will grow 33 percent to nearly$10 billionin 2017 and the legal cannabis market is expected to reach$24.5 billionby 2021, with a compound annual growth rate of 28 percent. The report indicated that medical cannabis market inCaliforniais already as big as the total markets ofColorado,Washington, andOregoncombined. In 2018, cannabis for recreational use has become legal inCalifornia, the world's sixth largest economy. According to BDS Analytics, the cannabis market inCaliforniais expected to reach$5.1 billionin 2019. Global Payout, Inc. (OTC: GOHE), Surna Inc. (OTC: SRNA), Easton Pharmaceuticals, Inc. (OTC: EAPH), Cannabis Science, Inc. (OTC: CBIS), CV Sciences, Inc. (OTC: CVSI)
According to another report from Arcview Market Research, consumers inNorth Americaspent about$53 billionin the legal and illegal cannabis markets in 2016. "The enormous amount of existing, if illicit, consumer spending sets cannabis apart from most other major consumer-market investment opportunities throughout history," saidTroy Dayton, CEO of Arcview. Unlike most other industries throughout history, "the cannabis industry doesn't need to create demand for a new product or innovation - it just needs to move demand for an already widely-popular product into legal channels."
Global Payout, Inc.(OTC: GOHE) earlier today the company just announced that, "its majority owned subsidiary, MoneyTrac Technology, Inc. ("MTRAC" "MoneyTrac", the "Company") has executed a Sales and Marketing Management Agreement with High Grade Management Group, Inc. ("HGMG") to guide the development and implementation of a sales and marketing campaign to support the successful launch of HGMG's Apple Vapes products."
Aiming to revolutionize and capture a significant share of the multi-million-dollar vape market space, HGMG has introduced Apple Vapes. This new line of products delivers innovative and high-quality vape pens, chargers, and oils to consumers and retailers in one of the fastest growing market spaces. In addition to providing MTRAC with a direct source of revenue through the retainer they will receive for sales and marketing services, the agreement also serves as reinforcement of MTRAC's expanding business development service arm which is directed towards the growing number of businesses in the underserved cannabis industry.
MTRAC CEO,Vanessa Lunasaid: "This agreement is an excellent opportunity for MoneyTrac to play a strategic role in developing effective brand awareness for HGMG's Apple Vapes product line. The support and expertise that I anticipate our business development team will be able to lend to HGMG will undoubtedly provide them with the invaluable tools and resources necessary to take full advantage of a rapidly expanding marketplace."
Said HGMG CEO,Mark Glover: "As we look to capitalize on the multi-million-dollar vape industry, securing a partnership like this with MoneyTrac is absolutely vital in making sure we make a significant splash in this competitive market space as well as ensure that Apple Vapes is positioned to become a consistent revenue powerhouse by delivering the most innovative and top quality vape products to consumers and retailers in the industry."
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. OnNovember 14, 2017, the company announced operating and financial results for the three and nine months endedSeptember 30, 2017. They will not be hosting a conference call following the release of our financial results. Revenue for the three months endedSeptember 30, 2017was$1,566,000compared to$1,171,000for the three months endedSeptember 30, 2016, an increase of$395,000, or 34%. Recent and anticipated regulatory changes involving medicinal and/or recreational cannabis use in various jurisdictions, such asCalifornia, tends to be a leading indicator for the granting of licenses for new facility construction. As more new cultivation facilities become licensed, the company have an expanded set of opportunities and customers to whom they can potentially sell their systems.
Easton Pharmaceuticals, Inc.(OTC: EAPH) is a diversified specialty pharmaceutical company involved in various pharmaceutical sectors and other growing industries. OnOctober 20, 2017, the company announced its final payment which completes its$1.3 Million CDNJV agreement with Canadian based 1124123 Ontario Limited (o/a - Alliance Group) towards a 50% property ownership interest and various businesses including the cultivation of medical / recreational marijuana for national Canadian market. Pursuant to this closed agreement,Easton'sJV partner, Alliance Group (1124123 Ontario Limited) have been advised by its legal representation that it has cleared its last license exemption hurdles which clears a path for Alliance to grow, cultivate and distribute medical / recreational marijuana for the country ofCanada. This has now resulted in Alliance Group bringing forward interim facility engineering plans with expectations of a completed greenhouse growing facility within 6 months which would be near the anticipated national launch date of recreational / medical marijuana for the country ofCanada. Recreational marijuana has been made legal nationally inCanadaand is expected to be launched in late spring of 2018 where many industry observers have estimated a huge shortage of marijuana product once launched.
Cannabis Science, Inc.(OTC: CBIS) takes advantage of its unique understanding of metabolic processes to provide novel treatment approaches to a number of illnesses for which current treatments and understanding remain unsatisfactory. OnDecember 28, 2017, the company announced that its expansion plans are progressing rapidly as the final negotiations have been completed for the third medical marijuana dispensary inCalifornia. The Company is preparing the final documents now to complete integration of its third medical marijuana operations for theCaliforniamarket opening.
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 focused on manufacturing, marketing and selling plant-based CBD products to a range of market sectors. OnNovember 14, 2017, the company announced it has been named on Deloitte's Technology Fast 500™, an annual ranking of the fastest growing companies in the technology, media, telecommunications, life sciences and energy tech sectors inNorth America. The Deloitte Technology Fast 500 is based on percentage of revenue growth from fiscal year 2013 to 2016, with CV Sciences growing by 403% during this period.
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