NEW YORK, February 22, 2017 /PRNewswire/ --
NetworkNewsWire Editorial Coverage: The cannabis industry is heating up. More than half of the 50 states in the U.S. have now legalized marijuana for medicinal or recreational use, and several countries, including Brazil, Canada, Jamaica, Mexico, Paraguay, Portugal, Uruguay and the Netherlands, have also taken steps to legalize or decriminalize cannabis in the last two years. As a result, the cannabis industry has become ripe with new business opportunities. Recent developments in the industry, both locally and globally, have opened doors to tangential industries for companies like SinglePoint, Inc. (OTC: SING) (SING Profile), Medicine Man Tech, Inc. (OTC: MDCL), Reliq Health Technologies (OTC: RQHTF), General Cannabis Corp. (OTC: CANN) and Medical Marijuana, Inc. (OTC: MJNA).
The legal cannabis industry is arguably the fastest growing industry in the world. According to Cowen & Co., the industry could surpass $50 billion in revenue over the next 10 years, thanks to the continuing legalization throughout the United States. With the passing of California's Proposition 64, it is anticipated that the domino effect of recreational legalization will play out and the size of the industry will roughly triple in the near-term.
Since cannabis is still illegal under federal law, many commercial banks are not serving the industry. Only a small percentage of financial institutions-primarily small state-chartered banks and credit unions-presently serve the industry. Supporters like SinglePoint, however, see a day in the future when large national banks will offer comprehensive services to the cannabis industry and further spur its booming growth.
A 'bankable' marijuana industry creates a sub-industry that SinglePoint (SING) is targeting. SinglePoint, through its SingleSeed Payments subsidiary, will offer payment processing solutions and currently offers mobile marketing services and more. SinglePoint also has plans to acquire and invest in companies in a variety of sectors of the cannabis industry. For this company, the establishment of a true 'bankable' marijuana industry would have widespread, lucrative implications.
In anticipation of a bankable marijuana industry, SingleSeed is building a list of interested clients which you can find and sign up for at http://www.SingleSeed.com
Emerging companies like Denver-based Medicine Man Technologies (OTCQB: MDCL) also have a significant stake in the state of the legal cannabis industry. Since 2014, Medicine Man Tech has offered cultivation consulting services for cannabis-growing technologies and methodologies. Through its retail operations and sale of cannabis products, the company has also diversified its position in this sector. Medicine Man Tech ended 2016 with 23 new clients in eight states and, throughout its history, has assisted more than 45 clients across 14 states. It is now one of the largest and most diversified cannabis consulting firms in the U.S.
In health care technology, Reliq Health Technologies (OTCQB: RQHTF) make up another category of companies looking to capitalize on the legal recreational cannabis industry. Reliq Health focuses on the development and operation of innovative, secure software systems that allow users to track assets using mobile devices. It also develops hardware and software platforms that allow complex patients to receive care at home. The Canadian company may be new to the cannabis industry, but its focus area, initiatives (including four pilot programs) and strong management team are already setting it up to disrupt the multi-billion-dollar community care market.
Industry players like General Cannabis (OTCQB: CANN) focus on obtaining and providing basic business elements for the industry. CANN acquires and then leases out real estate and operational facilities, and it offers associated support services such as security and transport. This allows small businesses that have financial restrictions to get up and running quickly, concentrating on the things that are important to them instead of spending their money and time on land and buildings.
A more comprehensive approach to the cannabis industry is seen in the likes of Medical Marijuana (OTC: MJNA), a holding company that evaluates and purchases value-added cannabis industry companies and product rights. As a result, the company is involved in a wide range of cannabis products, at all levels, from basic research and development to final marketing and distribution. The company also provides a number of general support services to cannabis-based companies and operations.
Groundbreaking entities like the ones mentioned above are paving the way for other companies to participate in the cannabis super-growth cycle. As the cannabis industry continues to make legal strides, a host of long-term, high-growth opportunities will continue to emerge for companies looking for greener pastures.
For more information on Singlepoint, Inc. (SING) please visit: Singlepoint, Inc. (SING)
NetworkNewsWire (NNW) provides news aggregation and syndication, enhanced press release services and a full array of social communication solutions. As a multifaceted financial news and distribution company with an extensive team of journalists and writers, NNW is uniquely positioned to best serve private and public companies who need to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today's market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
New York, New York
Please see full disclaimers on the NetworkNewsWire website: http://NNW.fm/Disclaimer
DISCLAIMER: NetworkNewsWire (NNW) is source of content listed above. FN Media Group, LLC (FNM), is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with NNW or any company mentioned herein. The commentary, views and opinions expressed in this release by NNW are solely those of NNW and are not shared by and do not reflect in any manner the views or opinions of FNM. NNW & FNM is not liable for any investment decisions by its readers or subscribers. FNM and its affiliated companies are a news dissemination and financial marketing solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM was not compensated by any public company mentioned herein to disseminate this press release.
NNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and NNW & FNM undertakes no obligation to update such statements.
e-mail: FN Media Group, LLC - firstname.lastname@example.org