NEW YORK, March 15, 2017 /PRNewswire/ --
FinancialBuzz.com News Commentary
The legal cannabis market receives attention in many countries around the world. According to a recent research published by Grand View Research, Inc. the global medical cannabis market is expected to reach a value of USD 55.8 billion by 2025. The research indicates that after the elections of 2016, a total of 28 states have legalized cannabis for medical uses. In 2016, states such as Arkansas, Florida, North Dakota, Ohio, and Pennsylvania passed legalization referendums, which approved the use of medical cannabis in applications such as chemotherapies and pain management. Vinergy Resources Ltd. (OTC: VNNYF) (CSE: VIN.CN), MCig Inc. (OTC: MCIG), Growblox Sciences Inc. (OTC: GBLX), Medical Marijuana Inc. (OTC: MJNA), Cannabis Science Inc. (OTC: CBIS)
As expected from any growing and developing industry, the legal cannabis industry is expected to generate new jobs. Giadha Aguirre De Carcer, Founder and CEO of New Frontier Data, explained, "While we see a potential drop in total number of U.S. jobs created in 2017, as reported by Kiplinger, as well as an overall expected drop in GDP growth, the cannabis industry continues to be a positive contributing factor to growth at a time of potential decline. We expect the cannabis industry's growth to be slowed down to some degree in the next three to five years, however with projected total market sales to exceed $24 billion by 2025, and the possibility of almost 300,000 jobs by 2020, it remains a positive economic force in the U.S."
Vinergy Resources Ltd. (OTCQB: VNNYF) (CSE: VIN.CN) in conjunction with its proposed acquisition of MJ Biopharma (announced December 14, 2016), the copmany announced yesterday that, "it has signed a Memorandum of Understanding (MOU) with Namaste Technologies Inc. to commercialize proprietary Cannabidiol (CBD) extract formulations through Namaste's retail websites in the United States.
In the first phase of the collaboration, through channels in California, Colorado and potentially other States, the Company will distribute proprietary formulations to Namaste's over 300,0000 unique visitors per month."
"We are excited and committed to working collaboratively with Namaste to bring to market our unique formulations. Namaste is an ideal partner based on their industry leading online presence and established customer base," said Mr. Kent Deuters, CEO of MJ Biopharma.
"We are very pleased to work with Vinergy to further expand our product line. This relationship represents continued monetization of Namaste's database and we view broadening our strategic alliances to the benefit of our customers and shareholders," said Mr. Sean Dollinger, CEO of Namaste.
Diversified company servicing the legal cannabis, hemp, and CBD markets, MCig Inc. (OTCQB: MCIG), subsidiary, Grow Contractors is proud to announce its selection as the builder of choice of the first large scale indoor grow facility in Oregon for Forest Grove Cultivation. With an overall plan for 115,000 square feet, this will be a top ranked grow space in Oregon. The first phase is already permitted for 50,000 square feet. MCIG estimates to begin construction within 60 days and 4 months to complete the project. Rob Kressa, Chief Executive Officer of Grow Contractors stated, "Our sweet spot is definitely large scale growers on the West Coast. They understand the real deal while the East Coast is still getting played by opportunists looking for a quick buck. We are here to stay and will do multiple phases and build outs for the best players."
Growblox Sciences Inc. (OTCQB: GBLX) is engaged in developing and utilizing technologies in plant biology, cultivation and extraction techniques combined with biotechnology, and plans to produce medical-grade cannabis, cannabis concentrates and cannabinoid therapies. The Company seeks to be a technology and solution company that converts the cannabis plant into medicines, therapies and treatments for a range of ailments. Growblox intends to conduct its business operations, through its subsidiaries, in approximately three operating units, which include Solutions, Sciences and Product Divisions. The Solutions division involves the development and use of its suite of controlled-climate indoor agricultural technology growing and cultivation Suites. The Science division is engaged in preclinical testing of its biopharmaceutical cannabinoid product prototypes to begin future human clinical trials.
Development-stage company that operates in the cannabis and industrial hemp space in America, Medical Marijuana Inc. (OTCQB: MJNA) announced that its subsidiary HempMeds® Mexico had held a press conference in Mexico to reveal the positive results of a recent study conducted by renowned Mexican physician Dr. Saul Garza Morales on the effects of the Company's Real Scientific Hemp Oil-X™ (RSHO-X™) product in treating children with severe epilepsy. The study, conducted by Mexican pediatric neurologist Dr. Garza, included 39 patients with Lennox-Gastaut syndrome, a severe form of pediatric epilepsy that typically develops before the age of four. Of those 39 patients, which took up to 5-7mg CBD/kg progressive doses of RSHO-X™ 5000MG, 84% experienced reduction in motor seizures; 53% reported better than a 75% reduction in seizures; and 7 reported a complete elimination of all seizures over a 4-month period, with zero reported side effects.
Cannabis Science Inc. (OTC: CBIS) is a company specializing in the development of cannabis-based medicines. On March 8th the company announced the anticipated delivery of the first of our pre-designed greenhouses with full tracking and reporting protocols to be delivered this week for our California and Nevada operations. "Having control over our own supply chain will greatly increase our efficiencies, including the time and cost required to have processed product readily available for development into all our formulations. We will soon launch our observational studies for specific cannabinoid combinations targeting critical ailments. We will be growing a variety of cannabinoid combinations for our formulations and testing. Each formulation is designed to target a specific critical ailment; to work using a particular delivery mode; and to have the potency to drive maximum positive results in patient usage," stated CMO Dr. Allen Herman.
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