NEW YORK, May 24, 2017 /PRNewswire/ --
According to a report by New Frontier Data, medical cannabis sales in 2017 are forecast to grow to $5.3 billion, which is 67% of total cannabis sales. The report projects that by 2025, medical sales in current legal states are forecast to grow to $13.2 billion, which will account for 55% of total cannabis sales. Adult use sales in 2017 are forecast to reach $2.6 billion, or rising to $10.9 billion by 2025. With visibility into the spending and consumption habits of cannabis consumers nationally, New Frontier Data has found that medical patient spending is outpacing adult-use consumer spending by a factor of three. In 2016 alone, adult-use consumers shopped once every 14 days and spent $49 per transaction; medical consumers, by contrast, shop once every 10 days and outspend the adult-use customer by more than three-to-one; spending $136 per transaction. SinglePoint, Inc. (OTC: SING), Cannabis Science, Inc. (OTC: CBIS), Cannabis Sativa, Inc. (OTC: CBDS), Vitality Biopharma, Inc. (OTC: VBIO), Mentor Capital, Inc. (OTC: MNTR)
California alone is expected to show impressive sales of cannabis products. "California offers the perfect example of why it is so important to understand trends in consumer behavior. The state's legal industry is forecast to grow from $2.8 billion in 2017 to $5.6 billion in 2020. That spending will be increasingly directed at products and retailers who understand and serve the market's evolving tastes and preferences. The market is changing, and the most successful operators will be those who adapt most quickly to the change," said New Frontier Data, CEO Giadha Aguirre De Carcer.
SinglePoint, Inc. (OTC: SING) is a holding company specialized in the acquisition of small to mid-sized companies with an emphasis on new technologies. Earlier today it announced that, it has completed the acquisition of Discount Indoor Garden Supply ('DIGS'). SinglePoint will acquire 90 percent of DIGS in a stock and cash transaction. The acquisition will bring immediate revenues to SinglePoint and positions the Company as a leader in online products, retail stores, cannabis consulting, and equipment in California, home to thousands of cannabis-related businesses and potential customers.
SinglePoint expects to show a significant increase in revenues in the second quarter financial filings. This acquisition of DIGS is yet another demonstration of SinglePoint's ability to strategically grow its portfolio of investments in established, high-potential cannabis businesses.
SinglePoint CEO Greg Lambrecht states, "This acquisition is an important one for SinglePoint and establishing its footprint in the cannabis industry. The acquisition of DIGS is phenomenal for the company's books. More importantly though, are the people that come along with this. We are investing in people we believe in, people that can continue to run and grow their companies. Mr. Haas is extremely knowledgeable, has over 25 years' experience in the industry and will be a key influencer in the decisions SinglePoint makes on the cannabis side of the business."
DIGS's online store (http://www.DIGSHydro.com) offers a wide range of growing equipment and accessories for individual or commercial plant cultivators. SinglePoint believes there is a major opportunity within this market, as nearly every U.S. state that has legalized the use of medical marijuana also allows licensed patients the option to grow their own plants. Now, licensed consumers can order an all-in-one unit to grow plants in the privacy of their home. DIGS's products also include growing supplies, HVAC setup, grow rooms and accessories, hydroponic garden solutions, and more. DIGS currently has two store front locations and has plans to open a third in the near future. Each store is strategically located in area where the majority of licensed growers are established. DIGS is working on a bid to build-out a 15,000-plant operation in Southern California, and both parties look forward to exploring the potential for a new model of joint-venture retail stores.
Haas states,"This is a major mile stone for DIGS through the exposure and the ability for SinglePoint to help fund the growth, we expect to grow DIGS brand very quickly and start looking to other states as well. We have a fantastic set of processes and growth plan in place and this opportunity will speed up our timelines significantly."
Cannabis Science, Inc. (OTC: CBIS) is a U.S. company specializing in the development of cannabinoid-based medicines. On May 11th the company announced that the release of a limited batch of cannabinoid-based suppositories for self-medicating, male and female patients. The suppositories aid with symptoms related to cancer, anxiety, insomnia, and severe pain relief. This Unisex Suppository Regimen Package, consisting of rectal suppositories, is the first of three regimen packages that will be released by CBIS to address the tremendous demand for cannabinoid-based medicines, for self-medicating patients who require alternative delivery methods.
Cannabis Sativa, Inc. (OTCQB: CBDS) announced on April 20th that it 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) on May 10th 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. Utilizing a list of the top drug-resistant pathogens from the United States Centers for Disease Control and Prevention (CDC), Vitality researchers screened for antimicrobial activity in their portfolio of compounds. Vitality Biopharma discovered new antimicrobial activities for cannabinoids, and as a result has filed for patent protection on the use of cannabinoids and cannabinoid prodrugs for the treatment of multiple pathogenic bacterial infections.
Mentor Capital, Inc. (OTCQB: MNTR) seeks to come alongside and assist private medical marijuana and cannabis companies and their founders in meeting their liquidity and financial objectives, to add protection for investors and to help incubate private cannabis companies. On May 03, 2017, the company announced that it has extended its funding to G FarmaLabs by an extra 20% with an additional loan on top of last month's million dollar investment in this global cannabis leader founded under Ata Gonzalez. Ata chooses to utilize the additional liquidity from this month's two hundred thousand dollar investment to help launch G Farma's program for the financing and support of new commercially licensed cultivators.
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