NEW YORK, November 11, 2016 /PRNewswire/ --
http://www.Financialbuzz.com - According to ArcView Market Research, the legal cannabis market will see a whopping $21.8 billion in total annual sales by 2020. The market is expected to grow at a compound annual growth rate of nearly 30% over the next few years. Voters this past week in California, Massachusetts, Nevada and Maine decided that recreational cannabis is now legal. New Age Farm Inc. (OTC: NWGFF), MCig Inc. (OTC: MCIG), Terra Tech Corp. (OTC: TRTC), Medical Marijuana Inc. (OTC: MJNA), Growblox Sciences Inc. (OTC: GBLX).
Whether you have bad or good thoughts about the election results, it was a good year for thus far for the cannabis industry. California, Massachusetts and Nevada and Maine legalized marijuana on this past week. These major states could be the reflection of the country's changing opinions toward cannabis, both for medical and recreational purposes. Now more than 20 percent of Americans can use cannabis or marijuana legally.
New Age Farm Inc. (OTC: NWGFF) offers a unique growing infrastructure and services for licensed growers and processors of luxury crops including cannabis at their green campuses in Washington State and British Columbia. Two campuses in Washington State - one in Sumas and one in Oroville - are capable of welcoming specialty producers as well as licensed marijuana growers.
New Age Farm Inc. announced that it will implement the Plan of Arrangement with its wholly owned subsidiary, NHS Industries Ltd. ("NHS") approved by the Company's shareholders at its AGM (see News Releases dated September 22 and 30, 2016). The Company will prepare NHS facilities and infrastructure in Langley, BC in anticipation of Canada's recreational marijuana industry.
New Age Farm Inc. Plan of Arrangement - New Age Farm and NHS entered into an arrangement agreement effective August 31, 2016 whereby New Age Farm would spin-off NHS, together with all its assets and liabilities, as a separate operating entity and NHS would operate the Company's Langley Property located in Langley, British Columbia (the "Arrangement"). In return, following completion of the Arrangement, Shareholders would hold one new share (each, a "New Share", collectively the "New Shares") in the capital of the Company and its pro-rata share of the post-consolidation NHS Shares to be distributed under the Arrangement for each currently held New Age Farm share. The New Shares would be identical in every respect to the present New Age Farm shares.
New Age Farm Inc. Share Distribution Record Date - The board of directors of New Age Farm have set the share distribution record date of the Plan of Arrangement at close of business on November 30, 2016 (the "Share Distribution Record Date"). Shareholders as of the Share Distribution Record Date will be entitled to receive the New Shares and the NHS Shares. Each shareholder of record on November 30, 2016 will participate in the Arrangement on a pro-rata basis and, upon completion of the Arrangement, will continue to hold substantially the same pro-rata interest they held in the Company prior to completion of the Arrangement. The New Shares will be identical in every respect to the shareholders' current New Age Farm shares; in addition, each New Age Farm shareholder will receive from NHS the number of common shares equal to the issued and outstanding common shares of New Age Farm held by the shareholder as of the Share Distribution Record Date, divided by an exchange ratio. The Arrangement was unanimously approved by the Shareholders at the AGM, and remains subject to final approval from applicable regulators. The Company provided full details of the Arrangement in an information circular that was mailed to the Shareholders and is available on SEDAR (the "Circular").
MCig Inc. (OTCQB: MCIG) released a research report and analysis by Technical 420, LLC, which provides a view of the company, its product offerings and target markets. The report is available at Research Report that was conducted by Technical 420's founder Michael Berger. MCIG's Chief Financial Officer, Mike Hawkins stated, "The Company wanted to have an evaluation done as a way to measure strengths and potential areas for improvement. More importantly, we wanted a high caliber point of view that comes from public data and numbers crunching. The Company has made the report available on its website for the convenience of the shareholders as a means to reference the information with their own point of view." The CFO went on to state, "MCIG continues its growth in the cannabis markets and we feel we are well positioned based on company fundamentals and pristine capital structure."
Medical Marijuana Inc. (OTC: MJNA) products focuses on cannabidiol hemp oil, a legal extract from cultivated hemp plants, that is non-psychoactive, contains a full spectrum of phytocannabinoids, and is high in CBD. Through its subsidiaries, HempMeds® and Kannaway®, their businesses focuses on consumer product distribution and has been able to provide hemp oils featuring high CBD to over 200,000 people. Its entire "CBD pipeline" products are free of herbicides, pesticides, or any harmful chemical fertilizers.
Terra Tech Corp. (OTCQX: TRTC) is a cannabis-focused agriculture company. The Company operates through two segments: Hydroponic Produce and Cannabis Products. The Company, through its subsidiary, GrowOp Technology Ltd., is engaged in the design, marketing and sale of hydroponic equipment. It is also a retail seller of locally grown hydroponic produce, herbs, and floral products through its subsidiary, Edible Garden Corporation. Through its subsidiary, IVXX Inc., it produces and sells a line of cannabis flowers and cigarettes, among others. The hydroponic produce segment consists of Edible Garden's business and operations. Its cannabis products segment consists of IVXX's business, as well as the proposed business operations of MediFarm, MediFarm I and MediFarm II.
Growblox Sciences Inc. (OTCQB: GBLX) has established its proprietary GrowBLOX™ technology suite to control the growth of Cannabis and other plants with high medicinal value to a pharmaceutical-industry quality standard. The GrowBLOX™ system allows the company to create "GBLX" branded, patented and certified therapeutic mixtures of raw plant ingredients through a comprehensive GBLX Quality Management Program. GB Sciences acts as the central hub for testing the GBLX-certified materials in a technologically data-driven biopharmaceutical innovation system to produce and authorize novel cannabis-based therapies for patients with clinically unmet requests.
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