NEW YORK, January 30, 2018 /PRNewswire/ --
A report by New Frontier Data in partnership with Arcview Market Research, indicates that the legalization of cannabis in California, Massachusetts, Nevada, Florida, Arkansas and North Dakota will result in new markets that will account for $7.1 billion in sales by 2020. The data estimates that the total U.S. cannabis market will surpass $20.9 billion by 2020. By segment, the medical cannabis market was worth $4.7 billion in 2016 and is expected to grow to $13.3 billion by 2025. Recreational cannabis sales during the same period are projected to grow at a 21 percent CAGR, from $1.9 billion to $10.9 billion. Global Payout, Inc. (OTC: GOHE), MassRoots, Inc. (OTC: MSRT), Mountain High Acquisitions Corp. (OTC: MYHI), Cannabis Science, Inc. (OTC: CBIS), GreenGro Technologies, Inc. (OTC: GRNH)
California's new recreational cannabis laws went into effect on January 1st, 2018. A report by Fortune indicates that, "in order to collect $1 billion a year in taxes, the state will need to reach a projected $7 billion in annual legal recreational cannabis sales. At that rate, California would easily be the country's largest legal marijuana market, as the entire legal cannabis industry in the U.S. is expected to pull in roughly $10 billion in total sales for 2017. That number would almost certainly get a boost in the coming years, as legal markets grow in California and other states, such as Nevada and Massachusetts."
Global Payout, Inc. (OTC: GOHE) announced yesterday breaking news that, "its majority owned subsidiary, MoneyTrac Technology, Inc. ("MTRAC", the "Company") has completed a Joint Venture Partnership agreement ("JV") with Integrated Compliance Solutions, LLC ("ICS"), a premier 'Seed to Banktm' provider of financial and regulatory compliance services and solutions for the multi-billion-dollar retail cannabis industry."
As MTRAC has continued to make significant headway in recent weeks in the development of a strong foundation that is required to deliver legitimate banking solutions to the legal cannabis industry. The Company views the establishment of this JV Partnership with ICS as a critical opportunity to fortify the compliance aspects of the banking solutions that are being co-developed by MTRAC and the strategic partners with which they have been collaberating.
Said MTRAC CEO, Vanessa Luna: "The importance of compliance in an industry that is so heavily regulated like retail cannabis is something that cannot be understated. The ICS team carries several years of valuable experience with them in the field of regulatory compliance solutions and financial technology services for banking, and their integration into the banking solutions we are dedicated to delivering to the cannabis industry is not only significant, but essential to our commitment of providing retail cannabis businesses with the most compliant and regulated banking solution available."
Said ICS CEO, Christopher Johnson: "It should come as no surprise that the retail marijuana business is one of the highest risk spaces in retail. Being able to effectively track and manage KYC and source of all funds is imperative for these businesses who are focused on operating retail establishments that are not only profitable but are fully compliant with all financial regulatory requirements. Our 'Seed to Bank' technology solutions give these businesses the tools necessary to navigate the challenging and changing compliance waters, and I am excited to be joining MoneyTrac and its group of experienced partners on this important venture of bringing real banking solutions to the growing industry of cannabis."
"MTRAC intends for much of its focus over the coming weeks to surround incorporating the multiple strategic partnerships it has cultivated within the financial, banking, and compliance service sectors into the ongoing co-development of a banking solution that meets the demands and needs of the emerging retail cannabis industry."
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. On December 27, 2017, the company announced a comprehensive action plan to aggressively scale its market share of cannabis consumers and businesses in the California market. On January 3, 2018, the first recreational cannabis sales are expected to begin in California, which ArcView Market Research projects will grow to $6.5 billion by 2020. MassRoots has launched a comprehensive social media campaign leveraging its 450,000 followers on Instagram, 500,000 followers on Facebook, and more than 100,000 followers on Snapchat, in addition to its network of more than 75 cannabis-centric social media influencers with combined followings of more than 5,000,000 people. The campaign is focused on driving and rewarding referrals of users and paying businesses to the MassRoots platform.
Mountain High Acquisitions Corp. (OTCQB: MYHI) is a holding company focused on the acquisition and development of businesses and other assets within the cannabis sector. Recently, the company announced the company's most recent milestones in its plan to provide turnkey infrastructure solutions to licensed cannabis growers and producers in highly promising cannabis markets such as California, Washington, Oregon and Arizona. On January 18, 2018 MYHI entered into an Advisory Agreement with Mr. Dirk Nansen of Bellingham, Washington, with effect from January 1, 2018. Pursuant to the Agreement, Mr. Nansen is required to identify opportunities in Washington, Oregon, and California through which MYHI can evaluate technologies and pursue the build out of infrastructure assets to be utilized for cannabis cultivation, extraction, or consumer product manufacturing. In Arizona MYHI is currently leasing two intermodal cultivation containers to D9 Manufacturing, Inc. (D9), which is managing the company's pilot program aimed at developing Standard Operating Procedures for growers. D9 recently reported a substation electrical power surge that resulted in a loss of the crop for the company's initial cultivation.
Cannabis Science, Inc. (OTC: CBIS) is a U.S. company specializing in the development of cannabinoid-based medicines. On January 18, 2018, the company reported very strong interest among researchers in the Company's groundbreaking work to investigate the use of cannabinoids in the treatment of cancers. Cannabis Science's recent, peer-reviewed publication in Frontiers in Oncology, "Nanoparticle Drones to Target Lung Cancer with Radiosensitizers and Cannabinoids", in just a few months, has already been viewed more than 6,500 times, with the article having more views than 91% of the papers published in all Frontiers journals.
GreenGro Technologies, Inc. (OTC: GRNH) is a national leader in both indoor and outdoor aquaponic and hydroponic systems and grow rooms, with specific domain expertise in agricultural science systems serving both the consumer and commercial farming markets. On October 12, 2017, the company announced that its majority-owned subsidiary, Biodynamics, Inc., was awarded a purchase contract to build a 2-acre turn-key fully automated photovoltaic solar glass hydroponic cannabis greenhouse in Greenfield California, for Canna Culture Collective Inc., San Jose, California. Under the terms of the agreement, Biodynamics will construct a 88,364 sq. ft. PV solar glass hydroponic cannabis greenhouse for Canna Culture Collective, Inc., and expects to start construction as soon as permitting is complete in the first quarter of 2018. The project will incorporate Biodynamics' proprietary fully automated positive pressure PV solar glass greenhouse technology, and will be used by Canna Culture to cultivate medicinal cannabis using the Biodynamics proprietary multilevel controlled environment agriculture growing systems and techniques.
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