NEW YORK, November 3, 2016 /PRNewswire/ --
http://www.Financialbuzz.com - Next week is a crucial time for the legalization of cannabis in either recreational or medical use in nine states across the nation as balloting starts. At the end of 2016, the regulated cannabis sector in the U.S. is anticipated to rise over $7 billion if California says yes, as reported by ArcView Market Research and New Frontier. This analysis is an astounding 26 percent improvement compared to the previous year and compelled mostly by recreational sales. Regulated recreational cannabis sales had surpassed nearly a billion dollars in 2015 compared to $351 million in 2014 the report continued to report.
Singlepoint Inc. (OTC: SING), Terra Tech Corp. (OTC: TRTC), GrowBlox Sciences Inc. (OTC: GBLX), Medicine Man Technologies, Inc. (OTC: MDCL), Cannabis Sativa Inc. (OTC: CBDS)
Many small companies and businesses are preparing for balloting outcomes to turn out positive for medical or recreational use in cannabis. These small and large companies are positioning themselves by keeping the public and their shareholder base abreast with key corporate developments. Companies are vast and in a variety of cannabis sectors of businesses.
One small company that just announced new corporate developments in the cannabis sector is, Singlepoint Inc. (OTC: SING). The company announced that, SingleSeed, a subsidiary focused on providing merchant solutions for the cannabis industry, is awakening from a quiet period to take advantage of increased demand and legislative shifts within the cannabis market.
"This is an ideal time to actively engage the marketplace and ramp up relations with existing clients," states SinglePoint CEO Greg Lambrecht. "Additionally, there are a number of other smaller companies in this space that, as part of our overall rollup initiative, we would seek to acquire." Politicians on both sides of the aisle are pushing for solutions to the marijuana banking conundrum on state and federal levels. SinglePoint's Board of Directors is confident that results of next week's election will not derail unified efforts to make way for allowing these companies to be "bankable."
"Though banks and credit unions will not openly acknowledge whether or not they will open Cannabis operations accounts, more and more are deciding to be vocal about their acceptance, and our processor has extensive relationships in a fast-growing industry that has developed to a point where we are confident to proceed toward ramp-up on SingleSeed operations and initiatives. As we look to further engage the marketplace, we will work with our technology partners to develop apps which help protect the industry with a safe way to transact monies for business owners operating within the confines of state laws and guidelines set forth for banks by federal authorities," adds Lambrecht.
Lambrecht concludes, "The bottom line, shareholders, is that we know this business, we have amassed a customer base in this business and we are prepared to aggressively enter this market with resources and legislation that were previously unavailable to us."
Terra Tech Corp. (OTCQX: TRTC) subsidiary IVXX™, hand selects and harvests the finest-grade cannabis under the safest and most beneficial conditions, free of toxic pesticides, harmful molds and chemical residues. Its products are carefully produced, rigorously tested and certified to the highest standards of potency and purity. Currently, the company's hand selected strains are the I-Hybrid and S-Hybrid. IVXX offers pure concentrates ranging from Shatter, Wax to Oil, which are all produced in its advanced extraction labs, along with custom rolled joints.
GrowBlox Sciences Inc. (OTCQB: GBLX) recently announced the filing of the first of several patent applications for life science inventions by its wholly-owned subsidiary, Growblox Life Sciences, LLC. The current provisional patent application covers complex-cannabinoid-containing mixtures capable of enhancing dopamine secretion and protect neurons from the mitochondrial-induced free radical damage that occurs during disease progression in the brains of patients with Parkinson's disease, Alzheimer's disease, Lewy Body Dementia, and Huntington's disease, among others.
Medicine Man Technologies, Inc. (OTCQB: MDCL) announced recently that it has added eight new licensing clients in October including five in Pennsylvania, two in Puerto Rico, and one in Florida. The company further noted the addition of two clients in California under its new Cultivation MAX services product bringing the total new clients added in October to ten.
Cannabis Sativa Inc. (OTCQB: CBDS) subsidiary, Ibudtender, is anchoring a Prop 215 event in San Francisco's Cow Palace this Halloween. Ibudtender is currently the technology arm of Hempcon. The company will be featuring its Wild Earth Naturals cannabidiol infused water at the Ibudtender booth. Eventgoers are invited to Ibudtender's booth to check out its latest technology for the cannabis sector.
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