NEW YORK, May 16, 2017 /PRNewswire/ --
A report by Arcview Market Research indicates that the North American consumers spent $6.7 billion on legal cannabis products, up 34% from 2015. Many successful brands have launched extracts, edibles, topicals, and other types of products that are leading consumers to spend more. In the cutting-edge Colorado market, they have reduced traditional dried flowers to less than 56% of the business. More states passed laws to open new markets and expand existing ones in 2016 than in any previous year. These new markets will drive sustained revenue growth in the years ahead. The legal cannabis market is expected to grow at a 27% CAGR to $22.6 billion by 2021. AmeriCann Inc. (OTC: ACAN), AXIM® Biotechnologies, Inc. (OTC: AXIM), Cannabis Sativa. Inc. (OTC: CBDS), Vitality Biopharma, Inc. (OTC: VBIO), Kush Bottles, Inc. (OTC: KSHB)
The Arcview report also specifies the economic benefit the legal cannabis industry has had in the states where the products were legalized. Retail sales taxes in state-sanctioned cannabis markets totaled more than $500 million in 2016, and in Colorado, Washington, along with Oregon alone, $836 million in adult-use sales began in 2014. Nearly 1.9 million North Americans are legally using cannabis to manage conditions as severe as polymorphic seizures, and as common as chronic pain. Millions more are consuming it legally in adult-use states with little or no negative impact.
AmeriCann Inc. (OTCQX: ACAN) a company that is developing the next-generation of sustainable, state-of-the-art, energy efficient medical cannabis cultivation properties, announced yesterday that, The Company's flagship Massachusetts Medical Cannabis Center ('MMCC') project is 47 miles from Boston in the midst of the rapidly growing Massachusetts medical cannabis market. The MMCC project is approved for 1 million square feet, which will be developed in phases and is expected to be one of the most technologically advanced cultivation facilities in the nation. The company is planning to replicate the MMCC technology in additional states.
AmeriCann Inc. was also recently added to two Marijuana stock indices:
The LD Micro Index: http://www.ldmicro.com/the-index
North American Marijuana Index: https://marijuanaindex.com/stock-quotes/north-american-marijuana-index/
AXIM® Biotechnologies, Inc. (OTCQB: AXIM) focuses on the research, development and production of cannabis-based pharmaceutical, nutraceutical and cosmetic products. The company's flagship products include CanChew®, a CBD-based controlled release chewing gum, and MedChew Rx, a combination CBD/THC gum that is undergoing clinical trials for the treatment of pain and spasticity associated with multiple sclerosis. On March 07, 2017, the company announced enrollment of 40 patients and commencement of its Phase II clinical trial for the treatment of irritable bowel syndrome (IBS) with the company's CanChew Plus® CBD gum.
Cannabis Sativa. Inc. (OTCQB: CBDS) recently announced that the Company has developed a 'hi' branded infused honey product (hi honey) which is made from rich African honey and infused with CBD or THC. CBDS President David Tobias said that, "The hi honey flavor is rich, dark and unique." Mr. Tobias went on to express his belief that "superfood honey contains powerful compounds including probiotics and polyphenols, which could help fight inflammation and protect cells from damage."
Vitality Biopharma, Inc. (OTCQB: VBIO) dedicates to the development of cannabinoid prodrug pharmaceuticals , and to unlocking the power of cannabinoids for the treatment of serious neurological and inflammatory disorders. The company recently announced that it has obtained positive results demonstrating antimicrobial activity of cannabinoids and filed for patent protection on the use of cannabinoid compounds for the treatment of microbes including Clostridium difficile and other 'superbug' pathogens. "Our cannaboside prodrugs enable the targeted delivery of cannabinoids into the large intestine, where C.diff infections colonize, take over, and can cause severe damage. Our compounds are uniquely suited for performing this task, and it's now clear they may provide benefits to gut health through multiple mechanisms," said Dr. Brandon Zipp, Director of R&D at Vitality.
Kush Bottles, Inc. (OTCQB: KSHB) is a dynamic sales platform that provides unique products and services for both businesses and consumers in the cannabis industry. The company has facilities in the three largest U.S. cannabis markets and a local sales presence in every major U.S. cannabis market. Recently, the company announced it has acquired the web domain Roll-uh-Bowl.com, an online distribution platform for retail sales of collapsible and unbreakable medical-grade silicone water pipes. Roll-uh-Bowl.com sees an average of 39,500 web users per month.
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