Legalized States' Tax Revenues Are Growing as Cannabis Market Expands

NEW YORK, October 9, 2018 /PRNewswire/ --

According to a report published by Ameri Research, the global legal cannabis market size was valued at USD 14.3 Billion in 2016 and is expected to reach USD 63.5 Billion by 2024. The accelerating pace of cannabis legalization globally, increasing investment in R&D and rising demand for medical cannabis are the main factors that drive the cannabis market growth. Benefits of legalization cannabis also include growing tax revenues due to product sales. In 2016, Colorado generated over USD 1.1 Billion revenue from the sale of cannabis products. North America is the largest market for legal cannabis, accounting over 49% of the market shares. ICC International Cannabis Corp. (OTC: KNHBF), MassRoots, Inc. (OTC: MSRT), MPX Bioceutical Corp. (OTC: MPXEF), Golden Leaf Holdings Ltd. (OTC: GLDFF), Sugarmade, Inc. (OTC: SGMD)

CBD, or cannabidiol, is one of the cannabinoids identified in cannabis plants. Demand for CBD continues to rise due to its medicinal benefits for a wide range of health conditions. Data compiled by Transparency Market Research suggested that the global CBD hemp oil market is projected to surpass USD 2.5 Billion by 2026 while growing at a compound annual growth rate (CAGR) of over 11% during the forecast years. Based on products, the market can be segmented into hemp-based CBD and marijuana-based CBD. Based on application, the market can be divided into sleeping disorders & depression, multiple sclerosis, neurological pain, and others.

ICC International Cannabis Corp. (OTC: KNHBF) is also listed on the Canadian Securities Exchange under the ticker (CSE: WRLD). announced news last week that, "Just announced breaking news this morning that it, "has commenced construction of its Colombian Cannabis Centre of Excellence (the "Centre of Excellence" or "COE"). The Company's COE will serve as headquarters for the Company's flagship property (the "Cannabis Park"); located in the heart of the Bogota Savannah in Funza, Colombia.

The COE's mission is to advance ICC's craft Cannabis cultivation capabilities. Once complete, the COE will act as a collaboration facility, where renowned industry growers, geneticists and service providers can assemble and pursue revolutionary Cannabis centric projects and initiatives. It is ICC's belief that the COE will assist in catapulting Colombia into a world-class Cannabis cultivation jurisdiction.

ICC holds licences to cultivate, produce, hold, sell and export cannabis and its by-products (see ICC news release dated June 22, 2018). Colombia has become a highly sought-after jurisdiction for cannabis cultivation activities as it has a world-leading combination of broad public and private sector acceptance, ideal growing conditions, and a massive addressable market.

ICC previously acquired 13 hectares of optimal agricultural land located in Funza, the heart of the Bogota savanna, which is also one of the safest areas in Colombia. It is conveniently located within a 20-kilometre drive to Bogota's international airport. The lease on this land has been prepaid for a period of 10 years.

Phase 1 of the Cannabis Park construction is currently underway; highlighted by a one hectare, polycarbonate greenhouse. Once Phase 1 is complete, ICC will begin test trials of its ten primary Cannabis strains. These test trials will assist in solidifying ICC's Colombian cultivation and production quotas. Upon completion of the test trials, ICC will present its findings to Colombian officials who will then award the Company its finalized quotas.

ICC's Colombian Cannabis Park is forecasted to produce between 25,000 and 40,000 kilograms of dried Cannabis flowers per year. Once fully optimized, ICC's Colombian assets are projected to generate up to 500,000 kilograms of dried Cannabis flower per annum.

Eugene Beukman, chief executive officer and director of ICC, stated: "ICC is extremely pleased that our vision for Cannabis Park is beginning to take shape with the construction of the Cannabis Centre of Excellence. We envision Cannabis Park as a place where the finest minds in the science and art of Cannabis cultivation and production will gather for the benefit of the industry as a whole. We believe that our commitment to the Centre of Excellence for reflects ICC's stated objective of being at the vanguard of Cannabis science. This marks our first step to becoming a major world wide producer of premium recreational and medicinal Cannabis."

MassRoots, Inc. (OTCQB: MSRT) is one of the leading technology platforms for the regulated cannabis industry. Powered by more than one million registered users, the Company's mobile apps empower consumers to make educated cannabis purchasing decisions through community-driven reviews. MassRoots, Inc. recently announced that it is expanding its paid offerings to licensed dispensaries in the Californian market to enable them to more effectively offer time-limited deals to consumers. According to New Frontier Financial, the regulated cannabis market in California is one of the largest and most rapidly growing in the world, estimated to generate USD 3.09 Billion in cannabis sales by 2020. "We believe providing the roughly 2,500 regulated dispensaries with the technology they need to grow their businesses presents MassRoots with an opportunity to create significant shareholder value," stated Isaac Dietrich, MassRoots' Chief Executive Officer. "We believe our paid dispensary offerings have the potential to grow foot-traffic and revenues at dispensaries across the United States, and we look forward to introducing these dispensaries to our platform including our new deals listing service."

MPX Bioceutical Corp. (OTCQB: MPXEF), through its wholly-owned subsidiaries in the U.S., provides substantial management, staffing, procurement, advisory, financial, real estate rental, logistics and administrative services to medicinal cannabis enterprises in Arizona operating under the Health for Life (dispensaries) and the award-winning Melting Point Extracts (high-margin concentrates wholesale) brands. MPX Bioceutical Corporation recently announced that it has entered into a binding share purchase agreement to acquire all of the outstanding shares in the capital of Spartan Wellness Corporation from Ninth Square Capital Corporation and Veteran Grown Corporation both of which are at arm's length to the Company. Spartan is a Canadian organization whose mission is to help veterans suffering from various ailments, mostly psychological, to reduce or eliminate dependencies on opioids by directing them towards medical cannabis. "We are proud to contribute to the fight against opioid addiction, which has taken a devastating toll on veterans in Canada," said Michael Arnkvarn, Executive Vice President of MPX Canada. "Medical cannabis can offer a safer, much less addictive alternative for patients, and potentially help them reduce or completely avoid opioid use. Spartan has a unique profile in the Canadian veteran community and attends military veterans' events across Canada on a regular basis."

Golden Leaf Holdings Ltd. (OTCQB: GLDFF) is a Canadian company with operations in multiple jurisdictions including Oregon, Nevada and Canada, with cultivation, production and retail operations built around recognized brands. The Company recently announced the introduction of its new CBD-only Green Apple flavor as an extension of its cannabis-infused fruit chews product line. The chews are marketed and sold under the Company's "Golden" brand and are currently available in Oregon, both at the Company's Chalice Farms stores and 3rd party dispensaries. In the near future, the Company will launch the product in Nevada. The Company also plans to introduce the product in California once regulatory approval is received for its recently announced definitive agreement to purchase a multi-use combined cultivation, production and retail license. "Our customers kept asking when we would have a CBD-only Fruit Chew, and we listened. The new Green Apple flavor is a great addition to the Golden Fruit Chew product line and we expect it to resonate with consumers looking for functional, delicious, health and wellbeing-focused edibles. The fact that it is hemp-derived, adds an additional appeal to this CBD-only product. As cannabis consumers continue to demand more non-smokable options, our focus is on using the highest-quality distillates, ingredients, and components to produce the best possible products," said William Simpson, Founder of Chalice Farms and Chief Executive Officer of Golden Leaf Holdings, Golden's parent company.

Sugarmade, Inc. (OTCQB: SGMD) is a product and brand marketing company investing in products and brands with disruptive potential. The Company recently announced a new corporate initiative in the booming hemp market. Sugarmade is committing up to USD 1,0000,000 in capital over the next twelve months to invest in Hempistry, Inc. a privately held Nevada corporation, which has begun planting an ultra-high cannabidiol (CBD) industrial hemp strain in the U.S. State of Kentucky. Additionally, Sugarmade expects to sign an agreement with Hempistry for hemp cultivation supplies. Hempistry has already begun planting and has signed an agreement reserving up to 23,000 acres of prime Kentucky farmland for its exclusive use for hemp cultivation. Additionally, Sugarmade's Chief Executive Officer, Jimmy Chan, announced he has become an advisor to and a shareholder in Hempistry, Inc. Jimmy Chan commented, "Demand for industrial hemp and products derived from hemp is soaring with no let up in sight. We expect our direct investment into Hempistry to be accretive to common shareholders and our supply agreement to be lucrative. All of us at Sugarmade see a tremendous opportunity to become a supplier to this fast growing sector, thus we are today launching our first in a series of activities within the hemp markets. We plan to provide additional details relative to these hemp initiatives over the coming weeks."

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