DALLAS, November 8, 2016 /PRNewswire/ --
North American Cannabis Holdings, Inc. (USMJ) and Puration, Inc. (PURA) are two cannabis sector companies working closely together to be prepared for the possibility that marijuana legalization proposals included on today's ballots could lead to the legal marijuana sector growing from a $7 billion market today into a $22 billion market in four years from now. USMJ has carved out a base annual revenue of $500k since entering the cannabis sector in 2013. USMJ also developed and spun off the cannabis extraction business that is now the primary operation of PURA. PURA has recently announced its first two contracts and indicated a third is pending. Together, USMJ and PURA have been coordinating efforts to open an office in California in anticipation of Proposition 64 passing today and making recreational marijuana legal.
Marijuana Sector Growth Projections From Recent New York Times Article
The market for both recreational and medicinal marijuana is projected to grow to $22 billion in four years from $7 billion this year if California says yes, according to projections by the Arcview Group, a company that links investors with cannabis companies (New York Times).
North American Marijuana Index Increases 100 Points and Could Go Higher
The North American Marijuana Index (marijuanaindex.com) has increased almost 100 points in the last two months from September 1st at 68.14 to November 1st at 162.99. A strong legalization showing tomorrow could see marijuana stocks go much higher on the reality of legalization compared to the hope for legalization.
Today's Marijuana Ballot Initiatives and Where Marijuana Is Already Legal
Recreational marijuana is legal today in Washington, Oregon, Colorado and Alaska. 25 states all together have some form of legal marijuana as does the District of Columbia. Recreational marijuana legalization is on the ballot in California, Massachusetts, Maine, Arizona and Nevada. Medical marijuana legalization is on the ballot in Arkansas, Florida and North Dakota.
To learn more about North American Cannabis Holdings: growusmj.com. Follow the Company on Twitter: US_HEMP To learn more about Puration: purationinc.com Follow Puration on Twitter: Puration710 Visit Puration on Facebook: Facebook.com/puration/
Safe Harbor Act: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
SOURCE North American Cannabis Holdings, Inc. AND Puration, Inc.