CORAL SPRINGS, Florida, April 15, 2014 /PRNewswire/ --
Market news updates for Cannabis sector that continues to display growth as companies improve operations moving forward: Zoned Properties, Inc. (OTC: ZDPY), GW Pharmaceuticals plc. (NASDAQ: GWPH), Cannabis-Rx Inc. (OTC: CANA), Embarr Downs, Inc. (OTC: EMBR), Hemp, Inc. (OTC: HEMP) and Terra Tech Corp. (OTC: TRTC)
Zoned Properties, Inc. (OTC Pink: ZDPY) http://www.zonedproperties.com, a lessor of land, facilities and equipment to the medical marijuana industry is pleased to announce that Irvin Rosenfeld has joined their board of directors. Mr. Rosenfeld is one of the longest survivors of the Federal Medical Cannabis Program in the United States. He has spoken in the capacity of a Federal patient at the state capitals of Virginia, Maryland, Rhode Island, New Hampshire, Michigan, Minnesota, Illinois, Montana, Florida, Kentucky and Wisconsin. Mr. Rosenfeld has been covered by numerous television programs and print media both nationally and also in all of the aforementioned states having appeared on NBC Nightly News with Tom Brokaw, CBS Evening News with John Roberts, CNN News with Aaron Brown, CNN Talk Back Live (five times), The Montel Williams Show, Penn and Teller's "BS" on Showtime, Showtime documentary "In Pot We Trust", "Waiting to Exhale", PBS Emmy winning "Smoking Medicine: The Marijuana Issue" and PBS "Clearing The Smoke." In addition, Mr. Rosenfeld has been covered by hundreds of newspapers including the New York Times, the Washington Post, the Miami Herald and the Sun-Sentinel. Learn more about Irvin Rosenfeld at http://www.irvinrosenfeld.com.
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Mr. Rosenfeld has been in the financial services industry for the last 26 years and is an accomplished writer; he wrote a book entitled - "My Medicine: 'How I Convinced the U.S. Government To Provide My Marijuana and Helped Launch a National Movement,'" which was published in 2010 and is available at http://www.mymedicinethebook.com.
GW Pharmaceuticals plc. (NASDAQ: GWPH) a biopharmaceutical company focused on discovering, developing and commercializing novel therapeutics from its proprietary cannabinoid product platform, recently provided an update on the Company's cannabinoid pipeline. "While much of the recent attention regarding GW has been associated with our childhood epilepsy and cancer pain development programs, we continue to make great progress with other pipeline programs, further demonstrating the breadth of our proprietary cannabinoid product development platform to yield interesting and therapeutically beneficial product candidates." stated Dr. Stephen Wright, GW's Director of Research and Development. "As GW continues to progress its clinical work with cannabinoids, our pipeline has the potential to yield, as it did with Epidiolex, a flow of exciting new product candidates in a wide variety of therapeutic areas."
Cannabis-Rx Inc. (OTCQB: CANA), a company focused on funding the growth of the cannabis industry in states where it is licensed or permitted for medicinal and/or recreational purposes, recently announced it will provide financing, commercial real estate solutions and consulting services to state licensed cannabis-related businesses. The company is not engaged in the growing, harvesting, cultivation, possession, or distribution of cannabis. Cannabis-Rx, which has raised $30 million in capital, plans to invest in light industrial and commercial properties suited for the needs of dispensaries, medical clinics, growers, and those who may supply products and services to the cannabis industry. It will also consider additional investment opportunities in the licensed cannabis industry, ranging from retail and construction to nutrient lines and logistics, as well as providing start-up or operating capital to businesses that meet specific criteria in states where such activity is licensed and/or permissible.
Embarr Downs, Inc. (OTCQB: EMBR) recently announced that the Company had successful meetings this weekend regarding an agreement with hemp cultivators for the Company's product, Hemp Fish Water. The Company is looking at entering an agreement whereby the cultivators will begin a research and development phase to test the Company's product. The research and development is expected to last between 12-16 weeks. The Company has sent samples of the Hemp Fish Water for initial testing. The Company has been internal testing the water and has seen significant results over the past 2 weeks. The Company expects to begin selling the through a newly developed website in the next 45-60 days.
Hemp, Inc. (OTC Pink: HEMP) recently announced sales for the first quarter of 2014, of $5,463,215, surpassing previous high marks for revenue, in any one quarter, since inception. Total sales for first quarter 2014 represent an increase of 1,181% over the same quarter last year and a marked 656% increase over the previous quarter announced just days ago. Since its transition from a developmental stage company to an operational stage company, Hemp Inc.'s (HEMP) sales for first quarter 2014 alone have far outpaced all four quarters of 2013 by 132% which primarily reflects the added income from its consulting services. "We are seeing the momentum continuing to build from our sales and marketing efforts. As the first all-hemp public company in the industrial hemp industry, Hemp, Inc. remains grounded and steadfast on ensuring the integrity of its guiding principles and commitment to our shareholders... the proof is in the numbers," said Bruce Perlowin, CEO of Hemp, Inc. (HEMP). "We continued the tenacious execution of our marketing strategy during the first quarter, further positioning the company for long-term growth and increased shareholder value," continued Perlowin.
Terra Tech Corp. (OTCQB: TRTC) recently announced a $6.5 million financing of convertible debentures, Aegis Capital Corp. acted as placement agent for the offering. The proceeds are primarily being used for ramping up production of the company's new 5-acre hydroponic cultivation facility, developing the GrowMass program, working capital and competing for medical cannabis permits in Nevada. The company is currently holding approximately $3 million in cash and has drawn roughly $2.3 million of the recent debentures leaving over $4 million available to the company to execute on their business plan. "We were fortunate to be able to raise the necessary capital to grow our business," said Terra Tech CEO, Derek Peterson. "As always management is focused on utilizing our capital in accretive ways. It's always difficult for a small company that is in growth mode to accurately forecast revenue, however we decided to estimate based on what we currently see in the companies pipeline of existing business. This forecast doesn't include any potential acquisitions, success in Nevada or any significant unexpected growth in our business, all of which we hope we achieve. We wanted to give investors both and achievable and conservative estimate for the year."
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