NEW YORK, February 14, 2017 /PRNewswire/ --
According to Arcview Market Research, the legal cannabis market is arguably the fastest growing industry in the world. Regulated cannabis sales in North America totaled $6.9 billion in 2016, a 30 per cent increase from 2015. Sales are projected to increase to $21.6 billion by the year 2021 representing a 26 per cent compound annual growth rate. The projected growth is attributed to a shifting perception of cannabis products by the public and several successful legalization campaigns, including in the state of California. Declining prices in the cannabis market have also been contributing to growth. Vinergy Resources Ltd. (OTC: VNNYF) (CSE: VIN.CN), General Cannabis Corporation (OTC: CANN), United Cannabis Corporation (OTC: CNAB), American Cannabis Company Inc. (OTC: AMMJ), Terra Tech Corporation (OTCQX: TRTC)
On January 24, New Frontier Data indicated in a report the importance of declining prices to the growth of the industry. John Kagia, executive vice president for industry analytics at New Frontier Data, explained that "the decline in prices in adult-use markets has continued since the beginning of the year, fueled by growth in the number of licensed producers and in the size of production facilities. In Colorado, where 20,000 square feet was once considered large for an adult-use grow, operators are now building facilities 10 times that size and larger. The steep price drops foreshadow the commoditization of cannabis that we expect to see in the years ahead."
Vinergy Resources Ltd. (OTCQB: VNNYF) (CSE: VIN.CN) earlier today announced that, "With its proposed acquisition of MJ Biopharma (announced December 14, 2016), it is pleased to announce a major breakthrough while conducting research and development on oral cannabinoid complex (Tetrahydrocannabinol (THC), Cannabidiol (CBD), Cannabinol (CBN) and Terpenes) delivery strips and controlled time release capsule technology. This novel approach will be the basis for several products where water or saliva is the catalyst used to activate the carrier for delivery and absorption of the cannabinoid complex into the body."
This unique approach forms the basis for a fundamentally new technology and product category. The technology is called "BURST" due to its incredibly fast action and ability to enhance the body's absorption of various medicinal ingredients contained in the Company's products. The BURST system is built on natural botanical polymers delivering specially processed high purity cannabinoid complexes. The unique system for cannabinoid activation maintains the natural balance of THC, CBD, CBN and terpenes while preserving the maximum therapeutic effect and potentially delivering it to the body faster than any currently available delivery method. The patent pending technology allows for a more complete palatable drug delivery system that is effective and enhances the patient or user experience while intensifying flavour.
"This is a great breakthrough for us and the product line we have planned. The technology can also be utilized in our time release capsules which of course will have a slower absorption rate. We think time release capsules are extremely important as they help bridge the gap in terms of familiarity with many patients who want to switch from synthetic drugs to a natural product as a way to reduce side effects and drug," said Mr. Kent Deuters, CEO of MJ Biopharma. "We look forward to providing additional updates in the coming weeks," added Mr. Deuters.
General Cannabis Corporation (OTCQB: CANN) offers various products and services to companies in the cannabis industry. The Company's integrated solution ranges from operational and compliance consulting to security and marketing to financing needs. The Company's segments include Security and Cash Management Services; Marketing and Products; Consulting and Advisory, and Finance and Real Estate. The Security and Cash Management Services segment includes the operations of Iron Protection Group, LLC. The Marketing and Products segment includes the operations of Chiefton Supply, an apparel and design company. The Consulting and Advisory segment offers consulting services, such as obtaining licenses, compliance, cultivation and logistical support, to the cannabis industry through Next Big Crop. The Finance and Real Estate segment includes real estate leasing; Shared Office Space, Networking and Event Services, and Industry Finance and Equipment Leasing Services.
United Cannabis Corporation (OTCQB: CNAB) along with its Jamaica-based subsidiary, Cannabis Research & Development, has signed a Letter of Intent with the Caribbean Institute of Medical Research to collaborate on advancing clinical research on medical cannabis. Tony Verzura, Chief Technical Officer of United Cannabis, commented on the announcement, "For several years we have been tracking patient outcomes using Prana P1 - P5 products with the help of our A.C.T. Now Program and have collected a wealth of anecdotal evidence supporting the safety and efficacy of our medications. Our collaboration in Jamaica with CARIMER is the first of many steps to formally test and confirm the benefits of the Prana line for a broad range of diseases in preparation for pharmaceutical markets."
American Cannabis Company Inc. (OTCQB: AMMJ) announced it has secured its sixth client in the state of Pennsylvania. The Company will work with this client to strategically plan, deploy and remotely oversee the client's retail dispensing, cultivation and infused product manufacturing operations within the city of Philadelphia. In addition to the Company's consulting engagement, the Company will also be taking an equity interest in the client's project and operations. Terry Buffalo, CEO of American Cannabis Company, commented: "We are excited to be working with this particular client, as well as collaborating with them by taking an equity position in their business. The Company is actively exploring the development of hybrid relationships like this that generate both consulting revenues and the opportunity for recurring profits from our equity interest. We feel that this new strategy will provide a beneficial long-term value to both our clients and our shareholders."
Terra Tech Corporation (OTCQX: TRTC) is a cannabis-focused agriculture company. The Company operates through two segments: Hydroponic Produce and Cannabis Products. The Company, through its subsidiary, GrowOp Technology, is engaged in the design, marketing and sale of hydroponic equipment. It is also a retail seller of locally grown hydroponic produce, herbs, and floral products through its subsidiary, Edible Garden Corporation. Through its subsidiary, IVXX Inc., it produces and sells a line of cannabis flowers and cigarettes, among others.
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