HUNTINGTON BEACH, CA--(Marketwired - Feb 25, 2014) - W Technologies, Inc. (PINKSHEETS: WTCG) (www.wtechnologies.biz) announced today that its newly-signed Joint Venture Partner, 420 Innovations LLC, has acquired a Medical Marijuana Retail Dispensary operation with successful multi-year operations.
This acquisition, consisting of seven retail dispensaries and two home delivery services, which have been legal in the State of California since 2007, marks an enormous step for 420 Innovations LLC into the Medical Marijuana sector.
420 Innovations LLC points to current research predicting that 14 more states could legalize marijuana for recreational adult use in the next five years, creating a potential $10.2 billion cannabis market by 2018. Researchers surveyed hundreds of medical cannabis retailers, processors, dispensary owners and industry leaders over the course of six months during last year and estimated that more than $1.43 billion worth of legal marijuana was sold in 2013. The report also predicts that figure to grow by 64 percent to $2.34 billion this year. This study only takes into account the sale of cannabis itself, whether by wholesale to retailers or directly to consumers. The market for ancillary products, such as security equipment, growing tools, apps and equipment, has the potential to drive growth still further.
About W Technologies, Inc.
W Technologies, Inc. (www.wtechnologies.biz), whose stock is publicly traded under the symbol (PINKSHEETS: WTCG), is a diversified holding company with the mission to develop, manage and finance emerging companies. W Tech will be involved in the development of new social media and digital advertising technologies, on-line shopping, new environmentally-safe oil and gas recovery technologies, new clean water technologies, financial services involving residential and commercial real estate and other emerging markets. The Company expects to bring a paradigm shift in the use of these new technologies in the respective business sectors and to develop new methods to finance its affiliated companies. Through its subsidiaries and affiliates with their experienced personnel, W Tech will seek to grow through acquisitions, joint marketing arrangements and organic growth in emerging markets.
About 420 Innovations LLC
420 Innovations LLC is in the business of designing, developing, manufacturing and marketing hi-tech delivery devices and accessories to the rapidly growing market of medical dispensary businesses for marijuana and a variety of nutraceutical products. The 420 Innovations products are designed to set new standards in quality and excellence in supporting their customers' requirements. The need for such paraphernalia products is expected to grow along with the current rapid expansion of the legalization of dispensaries for medical marijuana and other nutraceuticals. 420 Innovations LLC further intends to expand into the growth and manufacturing of the consumable goods in and around the Marijuana Marketplace including, but not limited to, the growing of Legal Marijuana.
Precautionary and Forward-Looking Statements
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude or risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in the Company's disclosures or filings with OTC Markets, Inc. You are further cautioned that stocks of smaller companies like W Technologies, Inc. are inherently volatile and risky and that no investor should buy this stock unless they can afford the loss of their entire investment.