Puget Technologies (OTCBB:PUGE) announced its subsidiary, Cannabis
Biotech, is initiating the development of a cannabis infused beverage
line. The beverages will be developed using flavor profiles and active
ingredients based on the company’s ongoing research.
This effort is part of Cannabis Biotech’s investigation of alternative
delivery systems for medical marijuana to appeal to the growing number
of patients who desire the benefits of medical marijuana but do not want
the harmful effects or stigma of smoking it. This is in response to the
shift in thinking in the U.S. where 20 states and the District of
Columbia have now enacted laws legalizing the use of medical marijuana.
Forbes reported the U.S. medical marijuana market, worth $1.7 billion in
2011, will explode to $9 billion by 2016.
President and CEO of Puget Technologies Ron Leyland said, “Our
outstanding research and development team is pushing the limits to
achieve superior delivery methods for the growing market seeking natural
cannabis-based medicine.” He added, “Cannabis BioTech is committed to
becoming an industry research leader as it develops products using
rigorous protocols, strict administration and exacting quality
standards.”
Earlier this year, Puget Technologies, led by Leyland, entered the $40
billion energy drink market with a line of energy drinks and shots.
Leyland said the cannabis-infused beverages will provide a refreshing,
organic alternative for patients seeking relief from nausea, chronic
pain, muscle spasms and other conditions.
In addition to the beverages, Cannabis Biotech is also exploring
sophisticated transmucosal delivery systems (administered through the
mucous membranes) and transdermal patches to add to its growing product
line.
Cannabis Biotech is entering a market including industry frontrunners
such as Coca-Cola Company (NYSE: KO), Anheuser-Busch InBev (NYSE: Bud)
and Molson Coors Brewing Company (NYSE:TAP).
More information about Cannabis BioTech can be found at http://www.cannabisbiotech.com.
About Puget Technologies (PUGE)
Puget Technologies is a publicly traded company on the OTCBB Market
stock exchange under the ticker symbol PUGE. Headquartered in Ft.
Lauderdale, Florida, Puget Technologies acquires, develops and sells
leading edge consumer oriented products ready for rapid
commercialization. Product lines under development include B-29 Energy
Drinks and several medical marijuana products through its subsidiary,
Cannabis Biotech. Puget’s strategy is to become a recognized market
leader in its product categories. Much of its resources are dedicated to
research and development in order to provide consumers with quality
options while meeting the expectations of its investors.
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Copyright Business Wire 2013