NEW YORK, February 15, 2017 /PRNewswire/ --
NetworkNewsWire Editorial Coverage: The global marijuana industry continues to develop at an impressive pace, driven by new developments in the field of cannabis-based pharmaceutics as well as the legalization of both medicinal and recreational use in a growing number of states. As a result, M&A activity in the market is heading toward exponential growth as well. Acquisitions help public companies diversify their portfolios and revenue streams while providing private companies access to more financing. Public companies such as SinglePoint, Inc. (OTC: SING) (SING Profile), Vinergy Resources Ltd. (OTC: VNNYF) and ChineseInvestors.com, Inc. (OTC: CIIX) have already initiated or completed such acquisitions, encouraged by the significant growth potential that cannabis-based product manufacturing businesses bring to the table. This impressive potential is perfectly exemplified by GW Pharmaceuticals plc (NASDAQ: GWPH), a biopharma company focused on developing cannabinoid prescription medicines.
With a reputation as the world's largest company involved in the production and commercialization of cannabis-based therapeutics, GW Pharmaceuticals (NASDAQ: GWPH) has operations in Europe, Canada, the United States and Asia. Based on its proprietary cannabinoid product platform, GW Pharma has developed therapies for the treatment of various conditions, including multiple sclerosis-related spasticity and neuropathic pain. Its product pipeline is also targeting tuberculosis sclerosis complex, infantile spasms, adult epilepsy, schizophrenia and more. But GW Pharma is one of the few developers of cannabis-based products or therapies that are publicly traded, given the legal hurdles and the lingering public misconceptions facing the industry. This is why a large number of growers, dispensaries and product companies choose to operate privately or to be acquired by other public companies with interests in the industry. As a $3 billion company, GW Pharmaceuticals is a prime example of the massive potential cannabis offers the public market.
SinglePoint (SING), a leading provider of mobile technology and payment solutions, is one such public company, having already established a strong presence on the legal marijuana market via its SingleSeed Payments subsidiary. Although acquired a long time ago, SingleSeed was only recently reawakened to take advantage of the massive growth of the global marijuana industry. The subsidiary was relaunched with the specific goal of providing highly reliable non-cash payment processing and mobile marketing tools to legal cannabis businesses. Offering these businesses the tools they need to thrive, in the absence of clear federal regulations and access to secure financing services, has made SinglePoint one of the most important players in the ancillary marijuana services market.
Driven by SingleSeed's success, SinglePoint has plans to continue its acquisition strategy and recently announced its Letter of Intent to acquire an interest in Convectium, the manufacturer of an innovative and unique oil filling machine for disposable vape pens or cartridges. Convectium's proprietary systems are unique in that they can fill and package more than 100 disposable pens or cartridges in as little as 30 seconds. The acquisition, likely to be completed before summer, is an important opportunity for SinglePoint's growth strategy.
"One of the reasons to operate as a public company is to use your stock and your ability to raise money to acquire revenue. We're doing exactly what we're supposed to be doing; we are looking for private companies to buy and position them as part of the SinglePoint team. Our broader roll-up strategy is to roll up 10 companies, accelerate our growth, and create multiple revenue streams," SinglePoint CEO Greg Lambrecht explains.
Canada's Vinergy Resources (OTCQB: VNNYF) is also taking active steps toward growing its product portfolio to become a key player in the global cannabis industry. Late last year, the company announced plans to acquire MJ BioPharma, a cannabis technology company focused on the development of new extractions and formulations for medicinal and recreational use, both domestically and internationally. In addition to the MJ BioPharma acquisition, Vinergy has also initiated the acquisition of up to 51 percent of a large European plant with an extensive catalogue of more than 2,000 cannabis and hemp strains. The name of the European company has not yet been disclosed.
ChineseInvestors.com (OTCQB: CIIX), a U.S.-based information technology company focusing on providing real-time financial information in Chinese for the global Chinese population, has also expanded into the medical marijuana industry via subsidiary ChineseCBDoil.com. A new website, targeting a population of roughly 2 billion Chinese-speaking individuals, was launched at the end of January, and the company also has plans to retail hemp oil and related products both in China and across the United States.
Industry analysts forecast the cannabis sector will jump to nearly $11 billion in legal sales by the year 2019, and wide-scale legalization at a state-level has awakened incredible opportunity for public and private entities competing in the market to capture their share. Moving forward, it's likely the burgeoning industry is positioning for a flurry of M&A activity and continued growth.
For more information on Singlepoint, Inc. (SING) please visit: Singlepoint, Inc. (SING)
NetworkNewsWire (NNW) provides news aggregation and syndication, enhanced press release services and a full array of social communication solutions. As a multifaceted financial news and distribution company with an extensive team of journalists and writers, NNW is uniquely positioned to best serve private and public companies who need to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today's market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
New York, New York
Please see full disclaimers on the NetworkNewsWire website: http://NNW.fm/Disclaimer
DISCLAIMER: NetworkNewsWire (NNW) is source of content listed above. FN Media Group, LLC (FNM), is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with NNW or any company mentioned herein. The commentary, views and opinions expressed in this release by NNW are solely those of NNW and are not shared by and do not reflect in any manner the views or opinions of FNM. NNW & FNM is not liable for any investment decisions by its readers or subscribers. FNM and its affiliated companies are a news dissemination and financial marketing solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM was not compensated by any public company mentioned herein to disseminate this press release.
NNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and NNW & FNM undertakes no obligation to update such statements.
Media Contact e-mail:
FN Media Group, LLC