PALM BEACH, Florida, June 13, 2017 /PRNewswire/ --
According to a recent Forbes article, The Hemp Business Journal estimated that the CBD market will grow to a $2.1 billion market in consumer sales by 2020 with $450 million of those sales coming from hemp-based sources. That's a 700% increase from 2016. In 2015, the market for consumer sales of hemp-derived CBD products was $90 million, plus another $112 million in marijuana-derived CBD products which were sold through dispensaries - bringing a total CBD market to $202 million last year. Cannabis and legal marijuana companies with major developments to report or are active in the markets this week include: PotNetwork Holding, Inc. (OTC: POTN), Acology, Inc. (OTC: ACOL), GreenGro Technologies Inc., (OTC: GRNH), Agritek Holdings, Inc. (OTC: AGTK) and Medical Marijuana Inc. (OTC: MJNA)
PotNetwork Holding, Inc. (OTC: POTN) is delighted to announce that its wholly owned subsidiary, Diamond CBD, Inc., has delivered yet another exponential increase in revenues year-over-year. For the month of May 2017, it achieved record breaking revenues of over 1 million dollars, which exceeded its May 2016 results by more than 1300% over last year's revenues of $70,444. "We are on fire! We are consistently setting new sales records month after month as the sales momentum continues to build. Moreover, our ongoing aggressive marketing strategy continues to build consumer and industry awareness which is clearly evident as we go from one exciting industry event to another," stated Maria Gomez, Regional Vice President of Sales for Diamond CBD, Inc. Read this and more news for POTN at http://www.marketnewsupdates.com/news/potn.html.
Since the beginning of the year, the Company's Diamond CBD has pursued an aggressive multi-faceted growth plan, which has included broad representation at various key industry trade shows and conventions, and a strong consumer and industry communications strategy that has yielded a huge spike in consumer and industry brand recognition for its specialty products. As a result, the Company recently announced that Diamond CBD, Inc. had achieved a groundbreaking first quarter 2017 sales result of $1,858,347.48 which exceeded in one month the total sales volume of $1,663,081.78 for the entire twelve calendar months of 2016. In addition, Diamond CBD, Inc. has recently celebrated the distribution of 1 million Chill Gummy edibles, a non going accelerating order flow, and the distribution of its products in approximately 10,000 retail locations nationwide.
In additional industry related developments or market activity of note:
Vapor Group, Inc., (Trading on the OTC Market under the Symbol VPOR), announced today that Easy Grinder™, exclusively distributed by its subsidiary, Total Vapor, Inc., is being promoted in the 'Shop' section of 'HIGH TIMES' magazine's website at http://hightimes.com/culture/high-buy-easy-grinder/. Importantly, the Company also announced that in addition to being available on the Easy Grinder™ website, Easy Grinder™ can now be purchased on Amazon.com, where it is available in all four of its colors, black, gold, rose gold and silver: http://a.co/5HOPUkE .
The Company is also now able to accept orders to ship to Canada. "We are very excited to have launched our ongoing marketing and advertising campaign for Easy Grinder™ in HIGH TIMES," said Yaniv Nahon, COO of the Company. "And we are even more excited to have Easy Grinder™ now available to easily buy on Amazon, in stock and ready for shipment!" He added, "In the coming months through print and the extensive use of online advertising and social media you will see an ever expanding presence of Easy Grinder™ as we broaden our consumer reach to drive consumer awareness and the sales of this cutting-edge herbal grinder. In fact to further spike our overall awareness, we will begin attending several major trade shows this summer."
Acology, Inc. (OTC: ACOL) closed up 28% on Monday after trading over 10.5 million shares on the day. The company recently announced that Canadian operations have recorded a 30% increase in sales over the same time last year, justifying the work and investment made in that country in the last quarter of 2016. In anticipation of total legalization, now seen by lawmakers as a certainty by mid-2018, Acology continues to position itself and its' premiere product, the Medtainer™, as the perfect solution for growers and dispensaries to safely package cannabis in accordance with regulations established by the Canadian health care service.
GreenGro Technologies Inc., (OTC: GRNH) recently announced it has secured a $4 million funding commitment to build a second igot420 dispensary in Cathedral City, California. $2 million of that financing has already been received with the remaining $2 million to be drawn down pending advancement of the project's construction schedule. igot420 is a major tenant of Greengro properties. The Cathedral City dispensary follows the commencement of the Company's construction of its North Hollywood flagship location, currently about 35% completed.
Agritek Holdings, Inc. (OTCQB: AGTK) closed Monday up 12% on 5.9 million shares traded by the market close. The company recently announced that the Company's operational and licensing partner, 1919 Clinic, has received pre-qualification and preliminary approval for a manufacturing license in addition to its cultivation license for San Juan, Puerto Rico. Agritek Holdings presently holds a five year exclusive operational agreement with the Puerto Rico-based licensee 1919 Clinic with the Company providing funding for infrastructure build out, cultivation partners, equipment lease financing and product brand licenses. The final issuance of the manufacturing license will allow the operation to produce edibles and extraction services for other cultivators as well as oils for cartridges supplied by Agritek.
Medical Marijuana Inc. (OTC: MJNA) recently announced that its subsidiary Kannaway, LLC, the first hemp lifestyle network to offer phyto-cannabinoid botanical products, is recognizing its first Brand Ambassadors to reach the Company's National Director Rank. Jeff and Debbie Lessard are the first Brand Ambassadors in Kannaway® history to earn this status, which requires achieving a minimum of $500,000 in sales per month. Jeff and Debbie Lessard began their career with Kannaway® in January of 2016, and have since then been recognized numerous times for their efforts to educate others about Kannaway's® cannabidiol (CBD) hemp oil products.
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