NEW YORK, September 13, 2017 /PRNewswire/ --
According to a report by New Frontier Data, medical cannabis sales in 2017 are forecast to grow to $5.3 billion, which is 67% of total cannabis sales. The report projects that by 2025, medical sales in current legal states are forecast to grow to $13.2 billion, which will account for 55% of total cannabis sales. Adult use sales in 2017 are forecast to reach $2.6 billion, or rising to $10.9 billion by 2025. Medical cannabis products are now legal in 29 states and Washington DC. "Significant changes are already underway in California for medical cannabis and adult use laws, which we see will have major implications for the cannabis industry, including ecommerce and delivery services in the state," said Giadha Aguirre de Carcer, New Frontier Data CEO. "As the largest state in the country - and the largest potential market for cannabis products - the implications for the growth of the industry because of California's adult use market cannot be overstated." Marijuana Company of America, Inc. (OTC: MCOA), Easton Pharmaceuticals, Inc. (OTC: EAPH), Greengro Technologies, Inc. (OTC: GRNH), mCig, Inc. (OTC: MCIG), MassRoots, Inc. (OTC: MSRT)
Cannabidiol (CBD) products are major share of the total legal cannabis market. CBD is the part of the cannabis plant that is usually used for medical purposes. Growth of the medical cannabis market is expected to accelerate as the products become more popular treatments for various medical applications such as chronic pain, post-traumatic stress disorder (PTSD), sleep disorders, anxiety, nerve pain and others. According to a report by Forbes, a new report by Brightfield Group estimates that hemp CBD sales have crossed $170 million in 2016. Sales are now projected to grow at a strong 55% compound annual growth rate and become a billion-dollar market in just three years.
Marijuana Company of America, Inc. (OTC: MCOA) earlier today announced that, its wholly owned subsidiary, hempSMART™, Inc., today released its new Full Spectrum Drops, available in 250mg bottles, enriched with non-psychoactive industrial hemp derived CBD.
After several months of market research, competitive comparison and product formulation, the proprietary hempSMART™ Full Spectrum Drops are now available for purchase by Company affiliates and customers at the Company's newly redesigned website and sales platform for affiliates at http://www.hempsmart.com .
The hempSMART™ Full Spectrum Drops are available in four different flavors: lemon, mint, orange and strawberry, and are formulated with phytocannabinoid rich full spectrum hemp CBD oil that is free of the THC isolate, and provides the desired 'Entourage Effect' of naturally occurring CBD, Terpenes, and complimentary Cannabinoids.
Commenting on the product release, Tim Alvater, the Company's head of marketing stated, "The opportunity to develop products using the finest ingredients, coupled with quality non-psychoactive CBD and a marketing plan developed by top affiliate marketing people with decades of experience, gives us the green light to aggressively open the channels of distribution in the US as well as on a global scale. We are proud to be at the forefront of the industrial hemp derived CBD revolution".
Paul Vetter, a member of hempSMART's Product Development Advisory Board, commented: "hempSMART's proprietary Full Spectrum industrially derived CBD free of the THC isolate, with its full array of naturally occurring terpenes, takes CBD supplementation to a new level."
Donald Steinberg, CEO of MCOA, who previously created multiple affiliate based marketing companies observed: "The public awareness and acceptance of CBD based products is expanding on a global basis, and at hempSMART™ we are prepared to meet this global demand. Along with our team of executives, we have the products in place, the software, the marketing and the affiliate compensation plan to implement our program of market distribution to an affiliate based marketing group promoting our products in the United States."
Easton Pharmaceuticals, Inc. (OTC: EAPH), announced on September 5th, pursuant to its previously announced Closing Agreement with Canadian based 124123 Ontario Inc. (O/A - Alliance Group), Easton has advanced $1,000,000 cdn in payments to Alliance Group. Alliance executes $8,000,000 cdn aggregate LOI contract on its 90 acres of zoned industrial land. Easton Pharmaceuticals has thus far paid $1,000,000 cdn in cash out of $1.3 million cdn to Toronto based 124123 Ontario Inc. (o/a - Alliance Group) to acquire a 50% property ownership interest in 45 acres of agriculturally zoned land north of Toronto, Ontario, Canada and into a business to cultivate, produce and facilitate the sale of its production of medical / recreational marijuana and other revenue producing businesses on a co-managed basis.
Greengro Technologies, Inc. (OTC: GRNH), one of the fastest growing companies in the emerging indoor agriculture technology industry, on July 10th, announced that its majority-owned subsidiary Biodynamics, LLC, Akron, Ohio, has been awarded a contract to sell a branded photovoltaic (PV) solar glass hydroponic vegetable greenhouse as part of a $17 million purchase agreement with GH Farms Group, LLC, an Ohio-based greenhouse company. Greengro Technologies also provides design, construction and maintenance services to large grow and cultivation operations and collectives in the medical and recreational cannabis sectors.
mCig, Inc. (OTCQB: MCIG) a diversified holdings company servicing the legal Cannabis, Hemp, and CBD markets, is committed to being the leading distributor of technology, products, and services to fit the needs of a rapidly expanding industry. Recently, the company released a summary of its unaudited financial results for the first quarter that ended July 31, 2017. The total recognized sales for the quarter ending July 31, 2017 was $3.1 million. Net sales for the quarter were $400K, representing an increase in revenue of 1,249% and net sales approximately 6 times greater than the same period last year. MCIG continues to see profitability from each operating segment, while it continues to develop its 420Cloud social network and platform, and its financial services.
MassRoots, Inc. (OTCQB: MSRT) is one of the leading technology platforms for the regulated cannabis industry. On August 24, 2017, the company announced the acquisition of CannaRegs, Inc., a leading technology platform that tracks changes in cannabis regulations and taxation at the municipal, state, and federal levels. Founded by former Federal Reserve regulator Amanda Ostrowitz in 2014, CannaRegs will be critical in helping the California adult-use market stay compliant. As one of the premier technology companies in the cannabis industry, CannaRegs is recognized for leading the movement with majority female leadership at its helm.
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