NEW YORK, December 2, 2016 /PRNewswire/ --
The state of California is anticipated to triple the size of the legal cannabis market when the state begins issuing licenses in 2018, which makes up 12 percent of the United States, according to market research firm Cowen Group. Vivien Azer, a cannabis analyst at Cowen, believes the nation's legal market will raise nine fold over the next decade, with consumers spending of $50 billion on recreational and medical marijuana by 2026. Lithium Corp (OTC: LITH), Medical Marijuana Inc. (OTC: MJNA), Cannabis Science Inc. (OTC: CBIS), Terra Tech Corporation (OTC: TRTC), Cannabics Pharmaceuticals Inc. (OTC: CNBX)
Whether you have bad or good thoughts about the election results, it was a good year for thus far for the cannabis industry. California, Massachusetts and Nevada and Maine legalized cannabis. These major states could be the reflection of the country's changing opinions toward cannabis, both for medical and recreational purposes. Now more than 20 percent of Americans can use cannabis or marijuana legally.
Lithium Corp (OTC: LITH) recently announced the relaunch of its search engine platform for cannabis related information resource, iWeedz. The platform connects consumers with vendors and individuals to easily find the right strains and products they're seeking for. For vendors, iWeedz will be cloud-based to manage inventory, post notifications for users, and could also market via mobile device, emails, and SMS. This technology platform will be available at http://www.iWeedz.com, and will be assessable with Apple iOS and android devices.
Greg Rotelli, Chief Executive Officer of U.S. Lithium, commented "We spent several years developing the iWeedz platform. We are exploring ways of streamlining the marijuana industry for both consumers and vendors by providing cutting edge scalable solutions that remain easy to use. In researching various opportunities, it was important for us to look at opportunities that were scalable and trendy. With the Green Rush trend, we felt that we could not ignore the interest by the investment community; we felt iWeedz was the right move as it is scalable and can solve a lot of problems consumers and vendors in marijuana commerce are experiencing. As a Company, we feel there is tremendous opportunity for our investors with this diversified approach especially with various upcoming state legislations looking to legalize marijuana."
Medical Marijuana Inc. (OTC: MJNA) announced that its major investment company AXIM® Biotechnologies, Inc. has filed an IP application with the World Intellectual Property Organization on a proprietary method to extract tetrahydrocannabinol acid from cannabis plants and to attain tetrahydrocannabinol (THC) with higher purity than conventional methods being used in the market today. The recently-filed IP would give protection to the invention of a method of extraction of THC-A from the cannabis flower using a solvent where the yield is approximately 50-70 percent with regards to THC-A content in the starting material.
Cannabis Science Inc. (OTC: CBIS) has initiated plans during the middle of November to conduct its long awaited medication study for Pulmonary Patients suffering from varying failing lung functions stemming from Cancers to Bronchitis and all in between respiratory ailments. "We expect it will begin as soon as the First Lab and Extraction site is completed and we think this will take place in this month of November," stated CEO and Co-founder Raymond C. Dabney. The company's goals along with medications are the delivery systems required and deemed to be the most beneficial to the patient. While medications in pill form and/or inhaled medications serve well for maintenance purposes and long term regimens, often times much of a medication's healing benefit is lost through the delivery method.
Terra Tech Corp. (OTCQX: TRTC) currently works through two sectors which consists of Hydroponic Produce and Cannabis Products. The company's subsidiary companies are IVXX™, Edible Garden®, and Blüm™. IVXX hand picks and grows the top quality cannabis using free of toxic pesticides, harmful molds and chemical residues. Blüm is a retail medical cannabis facility focused on providing the highest quality medical cannabis to patients who are looking for alternative treatments for their chronic medical conditions. Edible Garden utilizes time-tested, classic Dutch hydroponic farming methods to grow herbs and leafy greens in a safe and healthy environment.
Cannabics Pharmaceuticals Inc. (OTC: CNBX) has commenced the study in Israel for cancer patients utilizing Cannabics' SR Capsules. This is one of the world's only clinical study explicitly investigating the effects of cannabis utilizing a medically standardized edible delivery system. The company describes itself as a licensed research and development based in Israel dedicated to the development of palliative and personalized Anti-Cancer treatments harnessing the versatile therapeutic values of cannabinoids to create tailored therapies for cancer patients.
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