NEW YORK, March 24, 2017 /PRNewswire/ --
FinancialBuzz.com News Commentary
Medical cannabis products around the world are projected to gain popularity. A report by Grand View Research, Inc., projects that the global medical cannabis market will reach a value of USD 55.8 billion by 2025. United States is a major market for the new growing industry. By the end of 2016, 28 states have now laws and regulation in place to legally buy and sell medical cannabis. More conservative states like Arkansas and North Dakota, have opened the door to medical cannabis products. The medical applications for which such products are often being used, such as chemotherapies and pain management, are very common. Marijuana Company of America, Inc. (OTC: MCOA), Terra Tech Corporation (OTC: TRTC), OWC Pharmaceutical Research Corporation (OTC: OWCP), MCig Inc. (OTC: MCIG), Aurora Cannabis Inc. (OTC: ACBFF).
Some countries around the world, approach the medical cannabis market very seriously. Israel, for example, is attracting international investment as it tries to position itself as a cutting-edge exporter in the rapidly-growing market for medical-grade cannabis, Reuters reported. There are about 120 studies ongoing in Israel, including clinical trials looking at the effects of cannabis on autism, epilepsy, psoriasis and tinnitus.
Marijuana Company of America, Inc. (OTC: MCOA) is a cannabis and hemp marketing and distribution company. Just yesterday, the company announced that, "it has completed due diligence and entered into a binding joint venture agreement with GateC Research, Inc. ("GCR") for the purpose of engaging in the cultivation of legal marijuana in Adelanto, California.
The terms of the agreement include that MCOA will invest cash and stock in a newly formed entity, and receive a 50% equity and share in the net profits produced in the joint venture in Adelanto, California, where GCR owns a permit for cultivation. A three-person board of managing members will oversee operations of the newly formed entity. GCR will contribute its expertise in marijuana cultivation, as well as establish partnerships and licensing agreements that will enable the legal cultivation of marijuana in the State of California."
Donald Steinberg, MCOA President and CEO, commented, "We are excited to work with the GateC Research, Inc. team, and we look forward to strengthening our supply chain pipeline in California. We have some very exciting marketing ideas to implement as regulations allow."
Terra Tech Corporation (OTCQX: TRTC) is a cannabis-focused agriculture company. The company's subsidiary, IVXX™, is committed in building a recognizable brand that delivers quality and consistency to consumers of recreational and medical cannabis throughout the legal U.S. markets. IVXX ensures that their cannabis is grown and harvested under the safest and most beneficial conditions, free of toxic pesticides, harmful molds and chemical residues. Its products are thoughtfully produced, rigorously tested and certified to the highest standards of potency and purity. IVXX hand selects their cannabis and produces their own concentrates; and also offers custom rolled joints of 100 percent hemp-based papers.
OWC Pharmaceutical Research Corporation (OTCQB: OWCP), through its subsidiary, One World Cannabis Ltd., conducts medical research and clinical trials to develop cannabis-based pharmaceuticals and treatments for conditions including multiple myeloma, psoriasis, fibromyalgia, PTSD, and migraines. The company is also developing unique delivery systems for the effective delivery and dosage of medical cannabis. All OWCP research is conducted at leading Israeli hospitals and scientific institutions, and led by internationally renowned investigators. The Company's Research Division is focused on pursuing clinical trials evaluating the effectiveness of cannabinoids for the treatment of various medical conditions, while its Consulting Division is dedicated to helping governments and companies navigate complex international cannabis regulatory frameworks.
MCig Inc. (OTCQB: MCIG) is a diversified company servicing the legal cannabis, hemp and CBD markets via its lifestyle brands. MCIG has expanded from originally a vaporizer manufacturer, to an industry leading, large scale, full service cannabis cultivation Construction Company, currently operating in the rapidly expanding Nevada market, and a Hemp based CBD market supplier. The company looks to further broaden its expansion in multiple different fields within the cannabis industry through organic growth and strategic partnerships. The company's subsidiary, Grow Contractors has announced its selection as the builder of choice of the first large scale indoor grow facility in Oregon for Forest Grove Cultivation.
Aurora Cannabis Inc. (OTCQB: ACBFF) wholly-owned subsidiary, Aurora Cannabis Enterprises Inc., is a licensed producer of medical cannabis pursuant to Health Canada's Access to Cannabis for Medical Purposes Regulations. The Company operates a 55,200 square foot, state-of-the-art production facility in Mountain View County, Alberta, and is currently constructing a second 800,000 square foot production facility, known as 'Aurora Sky', at the Edmonton International Airport. The Aurora Sky project has secured advanced technology from the most renowned design and construction suppliers in the Netherlands.
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