NEW YORK, November 9, 2016 /PRNewswire/ --
http://www.FinancialBuzz.com - As reported by New Frontier and ArcView Market Research, the controlled cannabis market in the U.S. is projected to reach over $7 billion this year and the legal market sales are expected to surpass $22 billion by 2020. Many big or small companies in the medical and recreational cannabis sector have been announcing recent corporate developments during this election week. Green Cures & Botanical Distribution Inc. (OTC: GRCU), Medical Marijuana Inc. (OTC: MJNA), GrowbBox Sciences Inc. (OTC: GBLX), Marijuana Company of America Inc. (OTC: MCOA), mCig Inc. (OTC: MCIG).
Cannabis investment company, MedMen has reported that if Proposition 64 was passed it could generate up to $8.38 billion in yearly sales to a strong medical market valued at $2.83 billion. CEO Adam Bierman said that the California vote is one of the key milestones in the institutionalization of the cannabis industry. "I have a meeting on Tuesday in San Francisco with half a dozen of what some people would refer to as the illuminati of Silicon Valley," said Bierman. "That meeting doesn't happen six months ago. That meeting doesn't happen two months ago. It's happening now."
Producer of cannabis infused beverages, Green Cures & Botanical Distribution Inc. (OTC: GRCU) will debut a line of cannabidiol and THC sodas in four flavors to Digital Underground, hip-hop pioneers. The flavors are devoted to members of the hip-hop crew and some of the bands well-known song titles. This agreement with Purple Haze Properties will launch up to four new flavors annually and will be distributed among supermarkets without cannabis and dispensaries with cannabis in approved states.
Just yesterday Green Cures & Botanical Distribution Inc. announced, "the return of 300,000,000 (Three-Hundred Million) shares back to treasury. This decision was an easy one to make as InStep Holdings LLC, who is the controlling entity, felt it was in the best interest of the shareholders as well as the company to return the majority of their common holding. The goal is to keep a low and respectable share structure, and the best way of doing that is to maintain a low Issued & Outstanding, which GRCU has achieved today. 300,000,000 shares represented nearly 50% of the shares previously outstanding. By returning the shares to treasury, it creates only positive effects on the current shareholders and the stability of the company."
Joe Tragesser, Green Cures & Botanical Distribution's CEO stated, "I'm pleased to announce the Board's decision today to increase our Shareholder value. We have reduced our outstanding almost in half. Our strong performance, continuous product development, and our dedication to positive revenue growth, enabled the Board's decision. This decision reinforces our ongoing commitment to return value to our Shareholders." Tragesser added, "We believe we are well-positioned to continue this momentum of improving operating costs and productivity. We have aligned ourselves with some really amazing people through our joint ventures and they are with us for the long-haul. We have already taken significant steps to improve our overall performance, and creating additional shareholder value only aids in proving our intent."
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. One of the reasons why it's allowed to be sold across the nation is because it contains virtually no THC. The research on CBD, suggests that it has a wider body of health applications compared to THC. The company's CBD products include nutritional supplements, including pure CBD hemp oil extracts, tinctures, sprays, capsules, vaporizers, hemp oil bath and body products, from shampoo and conditioner to bath soaks and acne treatments.
GrowBlox Sciences Inc. (OTCQB: GBLX) recently reported 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.
Marijuana Company of America Inc. (OTC: MCOA) the inaugural product launch of hempSMART Brain will begin on November 7, 2016. Members and non-members are expected to be able to place orders for this unique product on November 7, 2016 in conjunction with the launch of the full hempSMART.com website. The Company's supply chain partners are established, inventory purchase contracts are in place, customer support centers are trained and ready to assist customers. The product is bottled, labeled and ready for shipping.
mCig Inc. (OTCQB: MCIG) is a diversified company servicing the legal cannabis, hemp and CBD markets through its lifestyle brands. The Company has transitioned from a vaporizer manufacturer to industry large scale, full service cannabis cultivation Construction Company with its Scalable Solutions division operating in a Nevada market. The Company has two divisions: mCig Construction Division and mCig Commercial Division.
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