(Image via Empower Clinics.)
Medical cannabis patient counts erupted in 2019 in the state of Oklahoma, with nearly 210,000 as of November 1st. More 
than 5% of the state’s population are now registered medical cannabis patients, which exceeds any other program in the United States, as reported by Marijuana Business Daily.
“According to tax receipts released by the Oklahoma Tax Commission, sales of medical marijuana in the state stood at just over $258 million through the first 10 months of 2019 and are on pace to eclipse $350 million by the end of the year – far surpassing analysts’ wildest expectations.”
With sales figures closely resembling a recreational launch, the debut of the medical market in Oklahoma has outpaced medical markets in Illinois, Maryland and Ohio.
One of the first in line to capitalize on this explosive growth is Empower Clinics Inc. (CSE: CBDT, OTCQB: EPWCF, Forum).
CBDT announced in early February 2020 that its Sun Valley Health division had sold its first franchise territory in the United States in Tulsa, Oklahoma.
Via the Company’s news release, Empower Chairman and CEO Steven McAuley explained to investors that the team at Sun Valley Health have added Oklahoma to its robust pipeline of strong franchise candidates that spans multiple states, touting the fact that they are all advocates of the medical cannabis clinic model.
“Completing the sale of our first franchise sets the stage for our next phase of growth, introducing our turnkey business model to likeminded people throughout the country.”
There are also three key advantages for businesses operating in Oklahoma’s market:
- No caps on the number of business licenses awarded
- Doctors are allowed to recommend the product for any condition
- Municipalities are prohibited from placing zoning restrictions to prevent dispensaries opening
A vertically integrated and growth-oriented CBD life sciences Company, and a multi-state operator of medical health and wellness clinics, Empower noted the state of Oklahoma is a fresh frontier for the market. As a medical cannabis state, it has gone from essentially nonexistent, to one of the largest and most valuable cannabis markets in the US.
After a successful launch of its CBD product sales in California and also joint venture with an extraction and production facility in Oregon, Empower is poised to capitalize on a number of exciting markets throughout the United States.
Based on more than six years of successful operating experience, Empower’s Sun Valley Health subsidiary provides a full turnkey business plan with complete technical and marketing support.
“A Scientific Approach to Alternative Medicine” is what a Sun Valley Health Franchise provides its franchisees, along with access to potential patients and consumers.
The franchisees pay a fee upfront to Sun Valley Health, along with monthly royalties based on revenue, as well as a variable monthly technology and marketing support fee. They also purchase the various Sun Valley Health CBD product lines for their clinic locations. The Company’s SVP Business Development Dustin Klein added that by entering Oklahoma’s market, gains are expected to surge from here.
“Oklahoma is now the fastest growing medical marijuana market in the country and we are fortunate to find such great partners who believe in our vision, and are in a position to take advantage of such a robust market.”
empowerclinics.com
FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.
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