Data Shows the Growth of Domestic and International Legal Cannabis Sales

NEW YORK, March 8, 2018 /PRNewswire/ -- According to data published by Ameri Research Inc. the global legal marijuana market was valued at $14.3 billion in 2016 and is forecast to grow at a CAGR of 21.1% between 2017 and 2024, culminating in 2024 global sales of $63.5 billion. The legal cannabis market is witnessing healthy growth due to the increasing legalization and decriminalization of cannabis products across North America and Europe. The report also indicates that due to the complex regulatory structure at state level and federal level, the full potential of the market is not yet realized. On January 1^st the state of California has joined the short list of states where sales of recreational cannabis are legal. Cannabis Strategic Ventures Inc. (OTC: NUGS), GB Sciences, Inc. (OTC: GBLX), mCig, Inc. (OTC: MCIG), Abattis Bioceuticals Corp. (OTC: ATTBF), Vitality Biopharma, Inc. (OTC: VBIO)

The potential financial benefits from the legalization are important economically and politically. Fortune reported that, "in order to collect $1 billion a year in taxes, the state will need to reach a projected $7 billion in annual legal recreational cannabis sales. At that rate, California would easily be the country's largest legal marijuana market, as the entire legal cannabis industry in the U.S. is expected to pull in roughly $10 billion in total sales for 2017. That number would almost certainly get a boost in the coming years, as legal markets grow in California and other states, such as Nevada and Massachusetts."

Cannabis Strategic Ventures Inc. (OTC: NUGS) just late yesterday the company announced breaking news that, "the signing of staffing agreement between the two companies today.  Under the terms of the agreement, Cannabis Strategic Ventures will provide long term staffing functions, benefits management, payroll processing and outsourced employment on behalf of MCOA and its wholly owned subsidiary: hempSMART.

In December, Cannabis Strategic announced it would begin targeting companies doing business in the rapidly emerging California market place, augmenting Cannabis Strategic's success from operations in the State of Washington. This agreement represents an important milestone for Cannabis Strategic in achieving penetration into the important California market. Mr. Simon Yu, CEO of Cannabis Strategic commented, "It is rewarding for our staff to begin penetrating the California marketplace and we are very pleased an industry leader such as Marijuana Company of America is our first major partner in this endeavor.  We are currently in various stages of similar agreements with several companies, both inside and outside of the California."

The outsourced human resources services provided by Cannabis Strategic can be an important component to many corporate growth strategies within the cannabis and hemp sectors.  These services allow management teams to concentrate growing the business instead of having to concentrate on the often time consuming and expensive human resources part of the business operation.

Donald Steinberg, MCOA's CEO said, "The legal cannabis and hemp sectors are growing very fast and are extremely dynamic.  This outsourced HR agreement with Cannabis Strategic will allow our company a lot more flexibility to respond quickly to the many current and future changes within the marketplace.  Our employees are one of our most important assets and this agreement will further ensure our continued commitment to our staff."

Cannabis Strategic's services are specifically designed to meet the unique needs of cannabis and hemp business operators. While the rapidly growing sector is expected to create thousands of new jobs, many industry operators are having problems finding and retaining qualified staff. Additionally, the costs of hiring, managing and compensating employees and the employment risks are often beyond the means of many operators. Cannabis Strategic will offload many of these burdens, allowing cannabis entrepreneurs to focus on growing or selling their products and services."

GB Sciences, Inc. (OTCQB: GBLX) is a diverse cannabis company, focused on standardized cultivation and production methods; as well as biopharmaceutical research and development. Recently, the company has filed a nonprovisional patent application to protect its cannabinoid-containing complex mixtures for the treatment of inflammatory disorders. The new patent application claims the benefit of GB Sciences' provisional patent previously filed on February 1, 2017; plus, additional data describing their mechanism of action and further supporting their claims. Inflammatory disorders, such as arthritis, asthma, eczema, psoriasis, Crohn's disease and Inflammatory Bowel Disease, represent a serious health burden in the US with over $200 billion spent annually. New cannabis-based therapies could significantly help both patients and society. 

mCig, Inc. (OTCQB: MCIG) is a diversified company servicing the legal cannabis, hemp and CBD markets. On January 29, 2018, the company has announced plans to launch an innovatively advanced hemp CBD-based formula for pets. Doctor of Bioengineering and Cardiology at Mt. Sinai Medical Center, Arkady Uryash, will be leading this new initiative in the rapidly expanding sixty-billion-dollar CBD pet industry market. The decision to expand into the pet products industry was based on extensive research conducted on customer and supplier inquiries. Comparison of research on how cannabinoids (including CBD) affects the human and animal body has shown that their effects share close similarities in interaction with endocannabinoid system (ECS).  Dogs and Cats were specifically found to share up to 70% biological homology with humans. Highly promising scientific conclusions indicate that CBD interacts in a similar way in canines and felines as it does in humans. Specifically, cannabinoid binding to ECS receptors within the dog and cat body can provide a longer lasting therapeutic effect without a risk of toxicity.

Abattis Bioceuticals Corp. (OTCQB: ATTBF) is a life sciences and biotechnology company which aggregates, integrates, and invests in cannabis technologies and biotechnology services for the legal cannabis industry developing in Canada. On January 22, 2018, the company announced the formation of a new partnership with Faculty Brewing Co., a Vancouver-based craft brewery, to develop a hemp-infused, cannabinoid-rich, THC-free craft beer. Pursuant to a research services agreement between Abattis and Faculty Brewing, Abattis will conduct research and development activities related to the development of a hemp-infused, cannabinoid-rich, THC-free craft beer, or a line of such beers, for Faculty Brewing. "Our exciting partnership with Faculty Brewing positions us as one of the first Canadian companies to secure an agreement for research and development, analytical and regulatory services relating to a hemp- and cannabis-infused beverage," said Rob Abenante, President and CEO of Abattis. "By aiming to develop a line of functional beers, each based on a different type of hemp extract, we hope to have a product that is compliant and market-ready as soon as Health Canada releases its new regulatory framework for hemp and cannabis-infused beverages," added Mr. Abenante.

Vitality Biopharma, Inc. (OTCQB: VBIO) is a company focused on the development of cannabinoid prodrug pharmaceuticals, and to unlocking the power of cannabinoids for the treatment of serious neurological and inflammatory disorders. Earlier in January announced that it has submitted an orphan drug designation request for VITA-100 to the U.S. Food & Drug Administration (FDA). Upon approval, VITA-100 would be designated as an orphan drug for the treatment of pediatric ulcerative colitis (UC), a form of pediatric inflammatory bowel disease. "In young children, ulcerative colitis can often be hyperactive and difficult to control using existing FDA-approved medications," said Robert Brooke, CEO and Co-Founder of Vitality Biopharma. "Given the mounting clinical data documenting use of cannabinoids for treatment of gastrointestinal disorders, we are very excited about the potential of VITA-100 and our cannabosides platform to provide a meaningful impact for these patients, helping them to stabilize their disease and avoid debilitating surgeries."

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