CORAL SPRINGS, Florida, January 13, 2015 /PRNewswire/ --
Revenues from marijuana production and sales in the U.S. states where it is legal could top $10 billion dollars by 2018 (up from $2.6 billion in 2014), according to research by the ArcView Group, which promotes investment in the emerging cannabis industry. As the industry grows, so does relying upon next generation cultivation technology for grow operations. Companies in focus today are: Surna Inc. (OTC: SRNA), Easton Pharmaceuticals Inc. (OTC: EAPH), Medical Marijuana, Inc. (OTC: MJNA), Hemp, Inc. (OTC: HEMP) and GW Pharmaceuticals plc (NASDAQ: GWPH).
Surna Inc. (OTCQB: SRNA), an engineering, manufacturing, and installation Company specializing in commercial indoor cannabis cultivation technology, announced today it has finalized an exclusive $1.1 million contract to design, build and install the climate control systems for grower CWNevada. CWNevada is one of the largest indoor cannabis cultivation facilities in Las Vegas, and was recently granted a Nevada grow license as the state prepares its infrastructure for the growth and distribution of legal medical marijuana in 2015. The Company's 48,000 square-foot facility requires more than 700 tons of cooling equipment. Surna will provide CWNevada with their proprietary climate control technology which lends greater latitude and precision to the cultivation process while improving energy efficiency.
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"The CWNevada contract will allow Surna to further demonstrate the efficiency and necessity of our cultivation technology," said Tom Bollich, Surna's Chief Executive Officer. "Indoor cannabis cultivation is more technically demanding than most people realize. The slightest deviation in temperature, timing, or light spectrum dramatically impacts the quality of the subject plant. Surna's technology uses less power and stabilizes certain growth factors so indoor growers can consistently provide quality cannabis at a reduced cost. We believe our product line to be essential to the industry, so we are strategically moving forward to establish similar contracts with other large commercial indoor growers throughout North America," Bollich said.
Revenue from the contract will be recognized throughout 2015 subject to start-date modification by CWNevada. Surna management believes that CWNevada has the potential to become one of the top cultivators in Nevada once equipped with Surna's chillers.
Easton Pharmaceuticals Inc. (OTC: EAPH) recently provided a due diligence update with the disclosure of total number of plants, strains and current dispensaries being serviced. With the company's quest to provide as much detailed information as possible with its negotiations as previously announced, the company is pleased to share some invoices on current medicated markets dispensaries who are its current clients, this update is as promised and was following Easton's meetings with Medicated Markets and Its Master Grower over this past weekend In Toronto, Canada. Medicated Markets possesses California Marijuana grower's licenses and are currently growing at its two Nursery locations (20 acre's) in City of Perris, Riverside County, California and one main growing location in Mendocino County, California with a total actual growing area of approximately 3 acres and a total plant volume of 10,000 plants. Capacity could be raised quite easily as plants require approximately 4 square feet of growing area. Each plant is expected to yield anywhere from 1 to 2 pounds of medicinal grade Marijuana.
Medical Marijuana, Inc. (OTC Pink: MJNA) operates in the medical marijuana and industrial hemp markets. Its products range from patented and proprietary based cannabinoid products to seed and stalk or isolated high value extracts manufactured and formulated for the pharmaceutical, nutraceutical, and cosmeceutical industries. The company develops cannabinoid-based health and wellness products, and medical grade cannabinoid compounds; and licenses its proprietary testing, genetics, labeling and packaging, tracking, production, and standardization methods for the medicinal cannabinoid industry, as well as offers pre-and-post production tracking, gemplasm references, and packaging and processing services. On Monday, MJNA closed down .55% on over 2.6 million shares traded.
Hemp, Inc. (OTC Pink: HEMP) news: The Ascent Expo, taking place February 27-March 1, 2015, at the Los Angeles Convention Center, is scheduled to be the largest gathering of its kind in the New Year, projects Henning Morales, CEO of the Expo. Combining cultural creativity, conscious capitalism, philanthropy, entertainment and commerce, Ascent Expo's primary goal is to help bring business people together to collectively affect future trends in areas such as environmentalism, health and self-actualization. Ascent Expo expects to attract between 20,000 and 30,000 guests interested in innovation, personal empowerment, Health& Wellness, fashion, music, and more. Among the many sponsors of Ascent Expo are HEMP, Inc., (OTCBB: HEMP), whose CEO, Bruce Perlowin, another cultural creative, said, "Our focus is on industrial hemp and the myriad of uses, with over 25,000 products made from hemp, each one helping to drive a new clean, green American Agricultural, Medical and Industrial Revolution. We emphasize the principles of positive psychology and applying these principles into everyday lives and activities, with a wide range of premium products and services. We anticipate many new innovative products and successful joint ventures from the Expo."
GW Pharmaceuticals plc (NASDAQ: GWPH), a biopharmaceutical company focused on discovering, developing and commercializing novel therapeutics from its proprietary cannabinoid product platform, announces an update on its development program for Epidiolex(R) (pure cannabidiol, or CBD) in the field of severe, drug-resistant childhood epilepsy. "During 2014, GW's prospects transformed as a result of the rapid advance of our Epidiolex program to treat orphan syndromes in the field of childhood epilepsy. I am pleased to confirm that all aspects of this program are advancing on time and we now expect to complete pivotal Phase 3 trials by the end of 2015," stated Justin Gover, GW's Chief Executive Officer. "In addition to the formal development programs already underway in both Dravet and Lennox-Gastaut syndromes, data from the expanded access program continues to point to the potential for Epidiolex to treat additional forms of epilepsy and we expect to commence clinical development programs in further potential target indications during 2015."
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