Adult-use Sales to Re-accelerate the Cannabis Market
Published: Jul 09, 2018
NEW YORK, July 9, 2018 /PRNewswire/ -- Data published by Ameri Research Inc., indicates that the global legal cannabis market was valued at USD 14.3 Billion in 2016 and is expected to reach a value of USD 63.5 Billion by 2024, while maintaining a CAGR of 21.1% during the forecast period. The cannabis market is experiencing a period of robust growth thanks, in part, to wide spreading legalization and decriminalization of cannabis products across North America. The report explains that the legalization movements are successfully changing policies in the U.S. and beyond. According to Arcview Market Research, the growth of the legal cannabis industry is expected to re-accelerate in 2018, as adult-use sales ramp up in Canada, California, and Massachusetts, along with first-time medical sales in Florida. Medical Cannabis Payment Solutions (OTC: REFG), Marijuana Company of America, Inc. (OTC: MCOA), SinglePoint Inc (OTC: SING), Rocky Mountain High Brands Inc. (OTC: RMHB), Puration Inc. (OTC: PURA)
In the U.S., the potential financial benefits from legalization are important economically and politically. In states like California for example, where new recreational cannabis laws are in effect as of the beginning of 2018, analysts are projecting an increase in sales of cannabis contributing to California's tax revenue and job creation. Arcview Group estimates that it will lead to the creation of nearly 99,000 cannabis industry jobs in the state by 2021, about a third of all cannabis jobs nationwide, and 146,000 jobs overall. Troy Dayton, CEO of The Arcview Group explained, "The economic excitement around the legal cannabis industry is no longer just theory. Due to the giant impact adult-use legalization is already having in the United States, it's vital for key stakeholders to understand the full impact of legalization, beyond just retail sales numbers."
Medical Cannabis Payment Solutions (OTC: REFG) just announced breaking news this week that, "a joint venture in Hemp CBD mobile processing. Medical Cannabis Payment Solutions, Inc. (OTC REFG) has signed a Letter of Intent (LOI) with a subsidiary of Paper Lantern, LLC. for a joint venture that will give (REFG) rights to deploy groundbreaking mobile hemp CBD extraction labs to REFG owned farms, and/or farms committed to providing REFG hemp...
"This mobile extraction partnership is another step forward in our plan to participate in the hemp and cannabis industries at strategic levels." said Jeremy Roberts, Medical Cannabis Payment Solutions, Inc. CEO.
The mobile extraction technology, along with in-field processing, will bring economic benefits never before seen in the industry with improved processing efficiency, reduced energy consumption, greater control over product quality and elimination of redundant layered costs (e.g. transportation).
"By bringing high tech mobile extraction to the farm, we will give farmers and capital partners the competitive edge needed in this fast growing emerging market," said Kipp Stroden, partner at Paper Lantern."
Marijuana Company of America Inc. (OTC: MCOA) is an innovative hemp and cannabis corporation. The Company recently announced an update on its New Brunswick Hemp Project with joint venture partner, Global Hemp Group Inc. The joint venture recently completed the planting of 125 acres of industrial hemp at the New Brunswick Hemp Project location, in the northeast portion of the province of New Brunswick, Canada. The Partners announced that an initial collaborative framework with the New Brunswick Department of Aquaculture, Agriculture and Fisheries (DAAF). The DAAF awarded a grant of USD 10,750 to the joint venture to support demonstration projects it will undertake during the current cropping season in New Brunswick. This grant will be directed to three areas of collaboration.
SinglePoint Inc. (OTC: SING) is a technology and investment company with a focus on acquiring companies that will benefit from our management, potential injection of growth capital and technology integration. SinglePoint Inc. is set to present at NIBA, National Investment Banking Association Conference in New York. In the past six months, the Company has completed audits, up-listed to the OTCQB and filed a Form 10 to become a fully reporting company. All this was done with the intention of increasing transparency and allowing for shareholders to have additional flexibility and liquidity. Additionally, Company executives believe these steps will help attract accretive opportunities for the Company. SinglePoint is working with beta clients that will provide initial feedback and changes in the coming weeks. SinglePoint and AppSwarm intend to deliver a full production application in July. In addition to the Company's internal developments, SinglePoint is continuing to pursue potential acquisition targets. Management is currently negotiating a definitive agreement and going through due diligence. SinglePoint has plans to continue its acquisition strategy and continue pursuing accretive opportunities to build the overall value of SinglePoint.
Rocky Mountain High Brands Inc. (OTC: RMHB) is a publicly-traded brand management company. In 2018, the Company added a new brand, HEMPd, a CBD product line. The Company recently announced that its HEMPd products are now available on both Amazon and eBay. Michael Welch, Chairman, President, and Chief Executive Officer of Rocky Mountain High Brands, stated, "We are pleased to announce that GoodforYou.com, our fulfillment partner, has successfully launched our HEMPd products on both Amazon and eBay. This is the next step in the evolution of our direct to consumer strategy for the HEMPdbrand. It increases exposure of our HEMPd products and creates availability in two of the world's largest marketplaces."
Puration Inc. (OTC: PURA) is a water purification company that designs, develops, engineers, produces, markets, and distributes personal and group systems that filter, purify, clean, extract or otherwise improve the quality of water on a cost-effective, affordable basis, with a minimum of environmental impact. North American Cannabis Holdings, Inc. (USOTC: USMJ) and Puration, Inc. (USOTC: PURA) recently announced a substantial milestone in their recently disclosed strategy to expand their reach into the worldwide legal cannabis market expected to reach USD 57 Billion in annual sales within the next ten years. The strategic plan detailed online is designed to capitalize on the two company's successes with EVERx CBD Infused Sports Water and the AmeriCanna Cafe and to build momentum behind their new cannabis cultivation and ecommerce businesses. The strategic plan presentation is available in its entirety on the company website. The recently reached milestone entails both USMJ and PURA entering into respective agreements with two independently listed companies to facilitate the spinoff and dividends included in the overall strategic plan to expand their reach into the worldwide legal cannabis market.
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