NEW YORK, December 19, 2017 /PRNewswire/ --
A report published by Ameri Research Inc. indicates that the global legal cannabis 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. According to Ameri, the legal cannabis market is witnessing robust growth due to the increasing decriminalization of cannabis products across North America and Europe. The rising demand of cannabis for both medical and recreational use is a key factor driving the growth. In addition, it is estimated that due to the complex regulatory structure at the state level and federal level, the full potential of the market is not yet realized. Cannabis Strategic Ventures (OTC: NUGS), mCig, Inc. (OTC: MCIG), Medical Marijuana, Inc. (OTC: MJNA), GB Sciences, Inc. (OTC: GBLX), Terra Tech Corp. (OTC: TRTC)
A major focus of the legal cannabis market is on the medical segment. Giadha Aguirre De Carcer, CEO and Founder of New Frontier Data explained, "The United States constitutes 35% of the global pharmaceutical market, the largest market in the world, and a major driver of the U.S. economy. It is one of many industries that will be impacted by the growth of the legal cannabis market and we are already starting to see that trend in legal medical states where use of key prescription drugs is down by 11%. If cannabis were to be adopted nationally, we would begin to see a trend of patients turning to medical cannabis as a substitute or complement to pharmaceuticals."
Cannabis Strategic Ventures (OTC: NUGS) just announced breaking news this morning that, "it is creating a financing and investment pool geared toward investment in cannabis projects in California. This pool will be managed by the Cannabis Strategic Ventures team with initial investments targeting cultivation opportunities.
"While most of our investors consider us to be an employment and staffing service targeting the emerging cannabis sector, we now plan to show investors a much broader path for the Company," commented Simon Yu, CEO of the Company. "While we have already signed an employment deal in Washington with more on the horizon, we are now beginning the process of performing due diligence on multiple emerging cannabis cultivation opportunities, with the most advanced project being located in Santa Barbara country."
With the opening of the California recreational market in less than two weeks, Cannabis Strategic believes expansion out of its first market, Washington State, into California presents significant opportunities for the Company. The Company plans to pursue investment opportunities in not only Employment, HR and Staffing operations, but also in the areas of real estate, cultivation, extraction, packaging and dispensary operations.
About Cannabis Strategic Ventures- Cannabis Strategic Ventures is based in Los Angeles and is focused on supporting entrepreneurial growth within the fast-growing legal cannabis sector. We help small business owners launch their dreams. The Company recently completed a name and symbol change from Cascade Energy, Inc. Cannabis Strategic Ventures offers outsourced personnel solutions that are tailor made to match the growth dynamics of cannabis cultivators, manufacturers, dispensaries, and other cannabis marketplace participants. Cannabis Strategic Ventures is publically traded on the U.S. Over the Counter Market with the stock symbol NUGS."
mCig, Inc. (OTCQB: MCIG) is a diversified company servicing the legal cannabis, hemp and CBD markets via its lifestyle brands. mCig, Inc. is committed to being the leading distributor of technology, products, and services to fit the needs of a rapidly expanding industry. The company has transitioned from a vaporizer manufacturer to industry leading large scale, full service cannabis cultivation construction company with its Grow Contractors division currently operating in the rapidly expanding Nevada market. On December 4, 2017, the company reported that its wholly-owned subsidiary, NYAcres, Inc., is focused on hemp propagation, production, research, and distribution of organic industrial hemp and hemp by-products, projects a total revenue of $10 Million in its first year of operation.
Medical Marijuana, Inc. (OTC: MJNA) is the first-ever publicly traded cannabis company in the United States. Recently, the company announced that subsidiary HempMeds® Mexico generated the largest-ever revenue month in the history of the company in November of 2017, as well as reached major milestones in its business operations. HempMeds® Mexico is Medical Marijuana, Inc.'s distribution branch in the country, focusing on providing non-psychoactive cannabidiol products to the people in Mexico. HempMeds® Mexico was the first company to have a medical cannabis product approved for import into Mexico, a country that is in the process of restructuring their policies regarding cannabis.
GB Sciences, Inc. (OTCQB: GBLX) is a diverse cannabis company, focused on standardized cultivation and production methods; as well as biopharmaceutical research and development. The Company's goal is creating safe, standardized, pharmaceutical-grade, cannabinoid therapies that target a variety of medical conditions. On December 13, 2017, the company announced its development of a cannabis strain that has an extremely high THC concentration, and also has a specifically-defined terpene profile, meaning that this potent strain may have significant medical benefits. The team was gratified to receive hard test results that verified their goal. The plant produced a THC-a content of 35.119%, as well as β-myrcene levels of 2.18% and β-caryophyllene levels of 1.01%, as tested by independent lab Digipath Labs, Inc. in Las Vegas.
Terra Tech Corp. (OTCQX: TRTC) operates through multiple subsidiary businesses including: Blüm, IVXX Inc., Edible Garden, and MediFarm LLC. Blüm's retail and medical cannabis facilities provide the highest quality medical cannabis to patients who are looking for alternative treatments for their chronic medical conditions as well as premium cannabis to the adult-use market in Nevada. Blüm offers a broad selection of cannabis products including; flowers, concentrates and edibles through its Oakland, CA and multiple Nevada locations. IVXX, Inc. is a wholly-owned subsidiary of Terra Tech that produces cannabis-extracted products for regulated medical cannabis dispensaries throughout California and medical and adult-use dispensaries in Nevada. On November 1, 2017, the company provided an update on the planned joint venture with NuLeaf Sparks Cultivation LLC ("NuLeaf Sparks") and NuLeaf Reno Production LLC ("NuLeaf Reno"), in Nevada. The joint venture is expected to fast track Terra Tech's cultivation and production facilities, allowing it to increase supply of its proprietary IVXX wholesale brand to meet the growing demand for cannabis products throughout Nevada.
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