LONGUEIL, QC, Aug. 11, 2016 /PRNewswire/ - Earth Life Sciences Inc. (OTCQB: CLTS) ("Earth Life Sciences" or the "Company") is pleased to announce that the Company's new division has sourced a leading edge High Tech Cannabis Oil based Nutraceutical Company capable of taking the company to profitability with one of the fastest growing industries today and stock price appreciation.
The Cannabis Oil based industry in North America is a multi-billion dollar industry, growing at 184% from 2015-2016. The size of the market for legal marijuana in the United States is projected to grow to $7.1 billion in 2016, according to Industry report, and Canadian Medical Marijuana market to grow to $4.1 billion in 2016.
After more than six months of due diligence the company has focused on an Organic Medical Marijuana grower that is in the business of farming in green houses as well as outdoors seasonally which drastically reduces power consumption and other cost associated with growing indoors with lights.
Earth Life Sciences will partner with Newco with an agreement in place to become the parent company over the first year of the acquisition agreement. The resulting entity will be a very specific Original Organic medical marijuana oils (CBD) producer with medical remedies for Arthritis, Glaucoma, Appetite Loss, Nausea and Vomiting, Multiple Sclerosis, Pain management, research suggests that cannabis can help manage chronic pain, especially nerve-related pain.
Cannabis Oil has therapeutic properties not replicated by other available medications. More information will follow as the company consummates the final agreements.
Cannabis extracts are being produced and consumed in all 50 states and the national market promises to grow by billions in the next five years.
Cannabis Oil is a marijuana extract of highly concentrated Cannabinoids (i.e.THC, CBD) that are then diluted in plant-based oils. Legal adult recreational marijuana sales topped $998 million in 2015 compared to $351 million in 2014 — growing 184% year-over-year.
These statements are not guarantees of future performance and involve certain risks and uncertainties that are difficult to predict. Actual results could vary materially from the description contained herein due to many risk factors that affect the industry the Company operates in and other risk factors listed from time to time in the Company's Securities and Exchange Commission (SEC) filings under "risk factors" and elsewhere. The forward-looking statements contained in this press release speak only as of the date on which they are made, and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.
SOURCE Earth Life Sciences Inc.