PALM BEACH, Florida, March 20, 2019 /PRNewswire/ -- Recently, market analysts have been trying to judge what heights the U.S. marijuana market will reach… they do not always agree on a number but they do agree that the revenues will continue to climb. A wall street publication recently said that: "The marijuana industry could be much bigger than you realize. According to a new note published… by an industry investment firm… the total cannabis market could generate as much as $75 billion in gross annual sales by 2030, up from a previous forecast of $50 billion by 2026." Another analyst had a higher number estimating: "… a $90 billion market size in 2028, if legalized soon enough for that market to be "mature" - say if legalized by ~2023." The article from the FOOL.com mentioned, "The green rush has fully gripped Wall Street and investors… many of the largest publicly traded marijuana stocks by market cap have seen their share prices soar by more than 1,000% over the trailing-two-year period. (One investment firm found): "…that the cannabis market is already worth about $50 billion, albeit with black-market channels being accounted for. If you factor in per-capita spending of $1,500 a year, 50% higher than it previously forecast, along with 35 million annual cannabis users, you can see where the bulk of this $25 billion annual increase from its 2016 projections is coming from Active Companies from around the market with current developments this week include: Marijuana Company of America, Inc. (OTC:MCOA), Kona Gold Solutions, Inc. (OTC: KGKG), Terra Tech Corp. (OTCQX: TRTC), PotNetwork Holdings, Inc (OTCPK: POTN), Isodiol International Inc. (OTCQB: ISOLF) (CSE: ISOL), Kona Gold Solutions, Inc. (OTCPK: KGKG).
The investment firm in the article even suggests that the United States' fight against the opioid epidemic could lead to an increase in cannabis consumption. Per the report, "Newly published research reinforces the work that we have already done, showing that for some, cannabis is an effective opioid substitute (in particular in treating chronic pain)." The second analyst summed it up saying: "If cannabis is legalized nationally, the market would be enormous."
Marijuana Company of America, Inc. (OTCQB:MCOA) BREAKING NEWS: Marijuana Company of America, an innovative hemp and cannabis corporation, is pleased to announce that MCOA has entered into a letter of intent (LOI) with Natural Plant Extract of California (NPE) and its subsidiary, Northern Lights Distribution, LLC (NLD) to acquire a 20% ownership interest in NPE, and to establish a Joint Venture (JV) to operate a California cannabis delivery service named Viva Buds.
Under the terms of the LOI, MCOA has committed to contribute $2,000,000 in total cash to the project, as well as common shares of the Company with a value of $1,000,000. In exchange, MCOA will own a 20% equity position in NPE. In addition, both NPE and MCOA will form a JV to operate Viva Buds and will share in the profits on a 50/50 basis.
NPE has obtained both state and city licenses for volatile manufacturing, distribution and retail delivery of cannabis products. NPE has a long-term lease with favorable terms for its location at 11116 Wright Road, Lynwood, CA. NPE will manage all operations pertaining to distribution, manufacturing, and delivery of cannabis products, and MCOA will provide capital, consulting and marketing services.NPE is currently generating revenue through its distribution business segment under NLD, which it launched in 2018 and is undergoing construction of its manufacturing lab since it recently obtained all of the necessary state and local permits.
As part of the JV with NPE's distribution company NLD, MCOA formed a wholly owned subsidiary called Viva Buds Inc. to serve as the marketing arm for NLD's new retail delivery service in California. The Company will initially focus on delivering cannabis products to Southern California and then rollout to other cities statewide. NLD will contribute up to $300,000 in inventory of cannabis products to assist in the start-up of this venture and will oversee all delivery and fulfillment of orders. MCOA will provide a vast array of marketing services and technology to promote and build its Viva Buds brand.
The parties are in the process of conducting due diligence and completing a material definitive agreement. Read this and more news for MCOA at: https://www.financialnewsmedia.com/news-mcoa/
In the industry developments and happenings in the market this week include:
Terra Tech Corp. (OTCQX: TRTC) a vertically integrated cannabis-focused agriculture company, recently announced that the City Council of San Leandro, CA voted last night to approve an ordinance for adult-use cannabis sales in the City of San Leandro. The ordinance is subject to a second reading which is scheduled to occur on April 1, 2019 and will go into effect on May 1, 2019. The ordinance would allow for existing medical dispensaries to sell cannabis to recreational users 21 years of age or older, starting May 1, 2019. The Company currently operates the only licensed medical cannabis dispensary open in the City at 1915 Fairway Drive San Leandro, CA, 94577.
Terra Tech's Blüm San Leandro dispensary has seen consistent medical foot traffic and a significant number of adult users, over 200 a week on average, have been turned away since the medical facility opened its doors on January 11, 2019.
PotNetwork Holdings, Inc (OTCPK: POTN) PotNetwork News, the cannabis industry's premier outlet for financial, political, and industry news, announced that it is starting 2019 by having over 1 million pageviews recorded through the first 10 weeks of the year.
PotNetwork Holdings, Inc., the parent company of PotNetwork Media Group, reported the surge for the period running from January 1st to March 15th. The site's special live multimedia coverage of signature industry trade shows (such as the Tobacco Plus Expo and CHAMPS) and investigative pieces such as the article that uncovered the investor fraud of hemp researcher DR. Bomi Joseph have also expanded the site's readership. The website also benefited from the increased traffic directed to it by the launch of its sister print publication, PotNetwork Magazine.
Isodiol International Inc. (OTCQB: ISOLf) (CSE: ISOL) recently announced the launch of its products with Holland & Barrett International ("Holland & Barrett"), beginning with an initial order of ten SKUs of hemp-extract based cannabidiol (CBD) products from the Company's RapidCBD™ and Iso-Sport™ brand catalogues for more than US$1 million.
The launch has commenced online and more than 45,000 units are expected to be available in up to 800 Holland & Barrett stores by the end of March, 2019 throughout the United Kingdom and the Republic of Ireland. Holland & Barrett is the largest health and wellness retailer in Europe, operating more than 1,300 stores, 10 million customer loyalty program members, and US$800 million in annual revenues.
Kona Gold Solutions, Inc. (OTCPK: KGKG) a hemp and CBD lifestyle brand focused on product development in the functional beverage sector, recently announced agreements with three new distribution partners, TJ Distribution in Massachusetts, Trident Distributors LLC in New Jersey, and SeeBeeDee'z LLC in New York. Kona Gold has now partnered with 13 new distributors in 2019, putting the number of distribution partners around the country selling the Company's Hemp Energy Drinks and CBD Energy Waters well over 20. The addition of TJ Distribution, Trident Distributors, and SeeBeeDee'z will place Kona Gold's popular Hemp Energy Drinks and CBD Energy Waters into key markets as the Company continues its aggressive expansion across the United States.
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