CORAL SPRINGS, Florida, December 18, 2014 /PRNewswire/ --
The cannabis retail market is expected to reach $12 billion by 2020 as America moves towards legalized marijuana state by state. Companies in focus today are: Zoned Properties, Inc. (OTC: ZDPY), Medbox, Inc. (OTC: MDBX), GW Pharmaceuticals plc (NASDAQ: GWPH), Vape Holdings Inc. (OTC: VAPE) and Terra Tech Corp. (OTC: TRTC)
Zoned Properties, Inc. (OTC Pink: ZDPY) a lessor of land, facilities and equipment to licensed medical marijuana operators has issued a year-end shareholder update. To read the full ZDPY press release, please go to http://www.financialnewsmedia.com/profiles/zdpy.html
ZDPY Release Highlights:
The company is pleased to announce updates regarding its senior leadership team and long-term operational strategy. Bryan McLaren, Chief Executive Officer, is excited to bring together a Board of Directors with an extensive background in business and leadership to help drive the future growth of the company. Mr. McLaren has successfully recruited Irvin Rosenfeld, Art Friedman, and Alex McLaren to join him on the Zoned Properties Board of Directors. The team is currently speaking with prospective candidates to fill the fifth board position. Our new Board of Directors includes leaders with vast experience from the medical marijuana advocacy movement, the alcohol distribution industry, and the field of medical research.
In addition, the company has signed agreements with Laura Anthony, ESQ to represent the company as SEC Counsel, along with Adam Wasserman, CPA to manage the preparation of the company's financial statements. Mr. McLaren stated, "We have worked hard to build an experienced leadership team at Zoned Properties that will support our mission to create a company based on transparency and integrity - I'm proud to know that this team believes in the vision for the future for Zoned Properties."
Zoned Properties recently reported unaudited third quarter financials, in which it showed $10.5 M in assets including $9M in real estate and equipment. Those assets primarily represent five properties acquired in Arizona and New Mexico. At present time, four of the five properties have state-licensed medical marijuana operators signed to ten-year lease agreements. Each licensed tenant is currently operating and paying rent to Zoned Properties.
Medbox, Inc. (OTCQB: MDBX) through its subsidiaries, provides patented biometrically controlled medicine storage and dispensing systems to the medical and retail industries. The company offers Medbox, a biometric medicine dispensing machine that dispenses herbal and prescription medications to individuals based on biometric identification primarily for pharmacies, assisted living facilities, prisons, hospitals, and doctors offices. MDBX closed up over 46% at $6.89 on over 200,000 shares traded by the market close on Wednesday.
GW Pharmaceuticals plc (NASDAQ: GWPH) a biopharmaceutical company focused on discovering, developing and commercializing novel therapeutics from its proprietary cannabinoid product platform, recently announced financial results for the fourth quarter and year ended 30 September 2014. "GW's business has transformed over the last year principally as a result of the rapid advance of our Epidiolex program to treat orphan syndromes in the field of childhood epilepsy. During 2014, we have raised significant capital from U.S. investors, commenced treatment of approximately 200 children, obtained encouraging clinical data, and commenced formal clinical development in the U.S.," stated Justin Gover, GW's Chief Executive Officer. "In 2015, we expect to complete much of the Epidiolex development program as well as start to build a U.S. commercial presence in anticipation of future launch. Beyond Epidiolex, we expect to report Phase 3 data from the Sativex cancer pain trials in early 2015 which, if positive, would enable the filing of NDA in the U.S. during next year. We also look forward to progressing multiple clinical trials for our cannabinoid product pipeline." Read more here: http://finance.yahoo.com/news/gw-pharmaceuticals-plc-reports-2014-120000486.html
Vape Holdings Inc. (OTCQB: VAPE), a holding company focused on providing healthy, efficient, and sustainable vaporization products, recently announced a closing of a $500,000 investment with a single institutional accredited investor. The capital infusion will allow Vape to accelerate its growth plans, including increased distribution for its HIVE Ceramics brand, introduction of its HIVE Glass products and launch of HIVE Supply. "We welcome a new institutional investor into our company and appreciate the confidence they have in our business strategy as demonstrated with their investment," stated Kyle Tracey, CEO of VAPE Holdings. "We have specific plans for the capital that will continue to accelerate the sustained and increasing demand of our core business. Additionally, this new capital will assist with the launch of our newest line of products, HIVE Glass, which will be made available next week at http://www.hiveceramics.com. There was a small delay in timing due to the recent holidays."
Terra Tech Corp. (OTCQB: TRTC) recently announced a new brand of exceptional quality cannabis products. IVXX, a wholly-owned subsidiary of Terra Tech, was developed by cannabis veterans Salwa Ibrahim and Derek Peterson, who believe in cannabis and its associated benefits. They and their entire IVXX team are committed to building a brand that delivers benchmark quality and consistency. "We believe everyone deserves the finest cannabis products and experiences. Our goal in developing this brand is to make certain we bring much-needed quality and accountability to the entire industry. The industry is maturing to a point where thoughtful branding is needed so consumers can make educated and informed decisions about the products they purchase." - Derek Peterson, CEO, Terra Tech.
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