Legalized Cannabis Sector Explodes as Companies Seek Opportunities in CO & WA
CORAL SPRINGS, Florida, February 19, 2014 /PRNewswire/ --
Medical marijuana companies rapidly expand as restrictions lessen and demand increases: PetroTech Oil and Gas Inc. (OTC: PTOG), Webxu, Inc. (OTC: WBXU), Dewmar International BMC Inc. (OTC: DEWM), Nuvilex, Inc. (OTC: NVLX) and Chelsea Therapeutics Ltd. (NASDAQ: CHTP)
PetroTech Oil and Gas Inc. (OTC: PTOG) is pleased to announce today that they have set up a subsidiary company in Colorado, and Washington, to serve as the foundation for the company's entry into the emerging market for medical and recently legalized recreational marijuana in the United States. Through Legalizedpot.us, (LP.US Management Group Inc.) has been established to be the Management Company. This branch will specialize in managing the growers of legalized Marijuana and Hemp in the states where they are allowed to grow. "This management group is the first of its kind, we have three growers in Colorado and Two in Washington, that will be our first clients," said Steven Machat, the head of this new division.
To read the full press release, please click here: http://finance.yahoo.com/news/petrotech-oil-gas-inc-set-134500113.html
Eddie Schilb President of PTOG added, "Our progress in Nowata is moving fast, we have finished the cement casing, and will shoot the well today, February 19th, after which we will follow up with an updated press release and full report," he went on to say, "We are not abandoning our main focus of working the leases that we have and continuing to execute our plans on oil production." Please go to http://www.legalizepot.us to review the credentials of Steven Machat and Jae Benjamine.
Webxu, Inc. (OTC: WBXU) has announced that will expand its branded web and mobile development services into the industrial hemp industry. By working with Hemp, Inc. (OTC Pink: HEMP) and its subsidiaries, Webxu will be able to expand its reach and provide ongoing services in the areas of online web development and advertising initiatives for businesses in the industry. Matt Hill, Webxu CEO, said, "Webxu is looking forward to working with Hemp, Inc. and its subsidiaries including IHMMCC, Inc. Hemp, Inc. is a solid company with a strong presence in the hemp industry that strives to find new products and channels of distribution that fit within their industry.
Dewmar International BMC Inc. (OTC: DEWM) recently announced that it has entered into a one year distribution agreement with C+SWISS, the original and first hemp-based ice tea ever distributed in the United States. The agreement gives Dewmar the exclusive right to distribute the hemp-based ice tea nationwide to one of the world's largest retailers. The distribution agreement, effective immediately, continues Dewmar's recently announced initiatives to become one of the most successful licensees and creators of hemp-based products in the United States. The agreement was signed with Chill Drinks, LLC, a Miami, Florida-based company, and the creator of both the award-winning C+SWISS (hemp-based ice tea) and Chillo (hemp-based energy beverage). C+Swiss is an all-natural iced tea which is sold in both specialty and large retailers, including Whole Foods. The product is distributed in over 10 countries, experiencing over 30% sales growth in the past 7 years.
Nuvilex, Inc. (OTC: NVLX) is a biotechnology company that's focused on getting into late phase clinical trials for the treatment of advanced, inoperable pancreatic cancer, but it also expects to be a major player in the medical marijuana arena. And, to that end, last December, Nuvilex landed a leading figure in the medical marijuana field in Dr. Mark L. Rabe. Dr. Rabe was appointed as the Chairman of the Scientific Advisory Board of Medical Marijuana Sciences (MMS), the wholly-owned subsidiary Nuvilex formed to house its work in the Cannabis industry.
Chelsea Therapeutics Ltd. (NASDAQ: CHTP) recently announced that the U.S. Food and Drug Administration (FDA) granted accelerated approval of NORTHERA[TM] (droxidopa)for the treatment of symptomatic neurogenic orthostatic hypotension (NOH). NORTHERA is the first and only therapy approved by the FDA which demonstrates symptomatic benefit in patients with NOH. NORTHERA is indicated for the treatment of orthostatic dizziness, lightheadedness, or the "feeling that you are about to black out" in adult patients with symptomatic NOH caused by primary autonomic failure (Parkinson's disease, multiple system atrophy and pure autonomic failure), dopamine beta hydroxylase deficiency and non-diabetic autonomic neuropathy.
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