NEW YORK, April 6, 2017 /PRNewswire/ --
FinancialBuzz.com News Commentary
New Frontier Data, a provider of analysis and reporting for the cannabis industry, recently announced that the legal cannabis market was worth an estimated $7.2 billion in 2016. In addition, the legal cannabis market is projected to grow at a compound annual growth rate (CAGR) of 17%, or a decline from 28% CAGR in 2016. The medical market is projected to grow at 13% CAGR through 2025, growing from $4.7 billion in 2016 to an estimated $13.3 billion in 2020. During the same period, adult use sales are projected to grow at a 25% CAGR, from $2.6 billion to $11.2 billion. SinglePoint, Inc. (OTC: SING), Medicine Man Technologies Inc. (OTC: MDCL), Growblox Sciences Inc. (OTC: GBLX), MassRoots, Inc. (OTC: MSRT), Eco Science Solutions Inc. (OTC: ESSI).
"These numbers confirm that cannabis is a major economic driver and job creation engine for the U.S. economy," said Giadha Aguirre De Carcer, Founder and CEO of New Frontier Data. "While we see a potential drop in total number of U.S. jobs created in 2017, as reported by Kiplinger, as well as an overall expected drop in GDP growth, the cannabis industry continues to be a positive contributing factor to growth at a time of potential decline. We expect the cannabis industry's growth to be slowed down to some degree in the next 3 to 5 years, however with a projected total market sales to exceed $24 billion by 2025, and the possibility of almost 300,000 jobs by 2020, it remains a positive economic force in the U.S."
SinglePoint, Inc. (OTC: SING) is a holding company specialized in the acquisition of small to mid-sized companies. On March 14th the company announced that, "It has closed its first round of funding to acquire a portion of Jacksam Corp., DBA Convectium, the developer of a unique oil filling system poised to revolutionize the cannabis market. Convectium projects full-year 2017 sales of $3.5 million, a triple-digit increase over the year prior. The acquisition represents the first of many strategic investments SinglePoint intends to make to diversify its revenue streams in the multi-billion dollar cannabis industry."
"As previously announced, SinglePoint will invest a stock and cash consideration totaling $800,000 to help fund the growth of Convectium and the marketing of its revolutionary 710Shark and 710Seal system. Developed by Convectium, the system is capable of filling and packaging more than 100 cartridges or disposable vape pens in 30 seconds, making it the fastest and only filling and sealing system of its kind. Convectium also offers a line of B2C products, which SinglePoint will sell online through its SingleSeed.com subsidiary."
"We have evaluated numerous investment prospects in the cannabis space, and found there is nothing that compares to this opportunity we have with Convectium," states SinglePoint CEO, Greg Lambrecht. "With this transaction, we will acquire a stake in a cannabis business that never touches a marijuana plant. This is the strategy we will use as we move forward to hedge us against changing federal and state laws."
Medicine Man Technologies Inc. (OTCQB: MDCL) is a cannabis consulting company. The Company provides consulting services for cannabis growing technologies and methodologies, as well as retail operations of cannabis products. The Company focuses on providing assistance to its clients in various businesses related to the cannabis industry, including cultivation; the dispensary business model, including combinations and other variables related to the retail model configuration of both a medical, as well as adult use (recreational) operation, and other areas, including but not limited to business plan generation, financial pro forma generation, application generation support, recommendations for other service providers, employee training and facility design services. It offers a separate cultivation or dispensary license and other related consultative services. It offers both pre-license consulting, as well as licensure services that generally tie to the size of the proposed business venture.
Growblox Sciences Inc. (OTCQB: GBLX) is engaged in developing and utilizing technologies in plant biology, cultivation and extraction techniques combined with biotechnology, and plans to produce medical-grade cannabis, cannabis concentrates and cannabinoid therapies. The Company seeks to be a technology and solution company that converts the cannabis plant into medicines, therapies and treatments for a range of ailments. Growblox intends to conduct its business operations, through its subsidiaries, in approximately three operating units, which include Solutions, Sciences and Product divisions. The Solutions division involves the development and use of its suite of controlled-climate indoor agricultural technology growing and also the GrowBLOX Suites. The Science division is engaged in preclinical testing of its biopharmaceutical cannabinoid product prototypes to begin future human clinical trials.
MassRoots, Inc. (OTCQB: MSRT) offers technology platforms for the cannabis industry, that has recently surpassed a million users on its platform. The Company's mobile applications enable consumers to provide community-driven reviews of cannabis strains and products, enabling consumers to make cannabis purchasing decisions. Through its mobile applications and Web portal, users utilize MassRoots to share their cannabis content, stay connected with the legalization news and follow their preferred dispensaries. Its mobile application features dispensary finder and menus; product pages and reviews, and Sponsored Posts 2.0. It provides business dashboards featuring MassRoots' product data in actionable formats. The Company focuses on introducing other features for users and index the network's public content on Google for software engine optimization value. The Company gains insights into consumer trends by aggregating data from various cannabis consumers.
Technology-focused company, Eco Science Solutions Inc. (OTCQB: ESSI), offers an app called "Herbo", made for growers, users, and beneficiaries of cannabis. Not only does the Herbo app help users find medical marijuana dispensaries, smoke shops, legal doctors, clinics, and delivery services in an area, but Herbo also wants to help users ingest medical marijuana the best possible ways. So Eco Science partnered with the largest and best paraphernalia manufacturers and distributors to bring its users products at great prices. In the latest version, Herbo added Strain information including THC/CBD breakdowns, effects, and where to buy it to help users find the best strains for specific needs.
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