NEW YORK, March 22, 2018 /PRNewswire/ --
Data reported by Ameri Research, estimates that the global legal cannabis market size worth USD 63.5 billion by 2024. According to the research, the factors driving the market growth include the wave of legalization, increasing usage of cannabis products for medical purposes, high tax revenues, and rising investment in R&D to introduce new products. The U.S, there are 28 states which have approved the use of cannabis for medical purposes, and more number of states are expected to follow suit over the next few years. Growing user base for recreational cannabis in states such as Colorado, California, Alaska, Massachusetts, Washington DC and other states is a key factor boosting the tax revenues. Global Payout, Inc. (OTC :GOHE ), MassRoots, Inc. (OTC :MSRT ), Freedom Leaf, Inc. (OTC :FRLF ), India Globalization Capital, Inc (NYSE :IGC ), Supreme Cannabis Company, Inc. (OTC :SPRWF )
Starting January 1st 2018, the state of California has started legal sales of cannabis products for recreational use. A report by CNBC quotes MedMen CEO and co-founder Adam Bierman, who explains the current state of the industry, "There is so much excitement now around legalization nationally coming in Canada. There is so much excitement about the fact that California, Nevada, Maine and Massachusetts all legalized recreational marijuana… The Canadian public markets offer access to a lot of capital, with a lot of certainty and a lot of speed, and there is this appetite among global investors to invest in a U.S. play… Specifically, global investors want to invest in a U.S. play that has California exposure. Now is the time where it makes the most sense."
Global Payout, Inc. (OTC :GOHE ) earlier this week announced, "Its subsidiary MoneyTrac Technology, Inc. ("MTRAC", the "Company") has engaged NisonCo, a Public Relations firm that specializes in the cannabis industry. The engagement provides for NisonCo to provide consulting and management services in the areas of public relations, media relations, and consulting on cannabis industry trends.
NisonCo has built a strong reputation as a leading provider of such services to the Cannabis industry. In addition to their strong reputation in consulting services, Evan Nison has been engaged as a consumer advocate of Cannabis for many years. He is currently the youngest board member of NORML National Board of Directors, sits on the Board of Directors for Students for Sensible Drug Policy, CoFounded Whoopi & Maya and was active in the push to pass Prop 19 in California to legalize cannabis for recreational purposes. The Company believes that NisonCo is the right choice to advocate for MTRAC because they have such a strong dedication to moving the cannabis industry into the mainstream."
"NisonCo will provide MTRAC with marketing guidance needed to flourish in the cannabis industry," said MTRAC CEO Vanessa Luna. "They have a solid track record in promoting companies like ours and are well versed in this very unique and highly regulated market sector. They have the tools to navigate us through the forest and we are excited to be working with them for the foreseeable future."
Evan Nison, CEO of NisonCo, said, "The portfolio of new technologies MTRAC is working on to help increase transparency and compliance in the industry, such as blockchain, is exciting. I'm happy to help get their voice out to members of the media to talk about the wide variety of tech solutions they're helping to build."
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 Feburary 26, 2018, the company announced that it appointed Mr. Graham Farrar, Founder and Owner of Mission Health Associates, to its Board of Directors on February 21, 2018. Mr. Farrar has held key product development positions at Sonos, a leading home audio product, and iStoryTime, a media app company focused on children's books. Mr. Farrar is Founder and Partner at Elite Garden Wholesale, a supplier of cannabis production equipment, and Chief Executive Officer of Glass House Farms, a leading cannabis production company in California.
Freedom Leaf, Inc. (OTCQB: FRLF) is a group of diversified, international, vertically-integrated cannabis/hemp businesses and media companies. Recently, the company announced that its Co-Founders, CEO Clifford J. Perry and Richard Cowan, are currently in Spain to visit newly acquired Green Market Europe S.L. hemp cultivation operations and explore new business opportunities at the Spannabis Expo. In March 6, Cowan visited two of the flowering greenhouses operated by Green Market Europe S.L. in Spain. Green Market Europe is a b2b cultivator and has an indoor greenhouse grow area of 43,000 sq. ft. (4000 m2), plus a light deprivation greenhouse with an area of 21,000 sq. ft. (2000 m2), and outdoor cultivation and production capabilities of 240 acres (over 100 hectares). Last year, Freedom Leaf also acquired LaMarihuana.com, the world's leading Spanish language cannabis portal with an average 1.7 million hits a month and 1.2 million likes on Facebook. As part of the acquisition, Freedom Leaf additionally acquired http://www.Marihuana-Medicinal.com which is one of the largest medical cannabis information website in Spanish with over 122,000 page visits a month.
India Globalization Capital, Inc (NYSE :IGC ) has two lines of businesses, a legacy infrastructure business and a cannabis pharmaceutical business that has developed a lead product for treating Alzheimer's patients. In 2017, the company announced that it will leverage its existing team of technology and healthcare experts to develop methods utilizing blockchain in areas such as product identification assurance (PIA). As previously reported, IGC has a two-part strategy for commercializing its lead product, Hyalolex. It is anticipated that in 2018, subject to adequate funding, to move the Alzheimer's formulation through FDA registered pre -clinical and clinical trials. Independent of the FDA process, IGC expects to license its formulation technology for distribution as a Complimentary and Alternative Medicine (CAM) through licensed medical cannabis dispensaries in key markets of the U.S. This process will include state-by-state sourcing, formula assembly, packaging and distribution utilizing best practices to ensure quality control while complying with the current legal guidelines established by each individual state in which Hyalolex is sold. Medical cannabis is currently legal in 29 states and in Washington, D.C. IGC has identified dispensaries in Washington, D.C. and Maryland as initial distribution sites to launch the product once final inventory is secured.
Supreme Cannabis Company, Inc. (OTC :SPRWF ) is a Canadian company focused on the emerging legal cannabis industry. Recently, the company announced that it has entered into a definitive agreement pursuant to which Supreme Cannabis will complete a C$10,000,000 strategic equity investment in Medigrow. Supreme Cannabis expects strong demand to exceed supply for medical cannabis oil globally and believes Lesotho is well suited to produce quality cannabis oil and Medigrow possesses the expertise to meet the highest quality standards. Concurrent with the completion of the Investment, Supreme Cannabis and Medigrow have agreed to enter into a long-term global distribution partnership for medical cannabis oil (as defined in the Access to Cannabis for Medical Purposes Regulations). The cannabis oil will be produced by Medigrow in Lesotho and subject to all government, and international regulatory approvals, the oil will be exported to Canada and other international markets.
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