NEW YORK, March 21, 2017 /PRNewswire/ --
FinancialBuzz.com News Commentary
The cannabis industry is one of the fastest growing industries in the U.S. as more states legalized cannabis for either
medical or recreational use. According to a report published by Arcview Market Research, legal cannabis sales in North America reached $6.9 billion in 2016, a 30 percent increase from 2015.
The market is expected to grow to $21.6 billion by the year 2021, with a 26 percent compound annual
rate. Raising adoption of cannabis and recent successful cannabis legalization referendums are considered as the main factors
that drive the growth of legal cannabis market. SinglePoint, Inc. (OTC: SING), Marijuana Company of America Inc. (OTC: MCOA),
Cannabis Science Inc. (OTC: CBIS), Medical Marijuana Inc. (OTC: MJNA), MCig Inc. (OTC: MCIG)
The legalization of cannabis has accelerated in the United States over the course of recent
years. Eight states have already legalized recreational cannabis, while cannabis for medical use is now legal in 28 states.
Support for legalizing cannabis is increasing. According to the data from National pollster Gallup, support for nationwide
legalization of cannabis is 60% in a 2016 poll, up from 25% in 1995. In November, California, a
state with 38 million U.S. citizens, had passed Proposition 64 to legalize cannabis for recreational purposes, which is expected
to boost the legal cannabis market size in the near future.
SinglePoint, Inc. (OTC: SING) through its subsidiary, SingleSeed the company is providing products and services to the
cannabis industry. On March 14 th, SinglePoint, Inc. announced that, it has closed its
first round of funding to acquire a portion of Jacksam Corp., dba Convectium, the developer of a unique oil filling system poised
to revolutionize the cannabis market. Convectium projects full-year 2017 sales of $3.5 million, a
triple-digit increase over the year prior. The acquisition represents the first of many strategic investments SinglePoint intends
to make to diversify its revenue streams in the multi-billion dollar cannabis industry.
"We are excited to be a part of the SinglePoint team. With their funding we expect to reach and hopefully exceed our projected
revenue goals," says Danny Davis, managing partner of Convectium.
"We have evaluated numerous investment prospects in the cannabis space, and found there is nothing that compares to this
opportunity we have with Convectium," states SinglePoint CEO, Greg Lambrecht. "With this
transaction, we will acquire a stake in a cannabis business that never touches a marijuana plant. This is the strategy we will
use as we move forward to hedge us against changing federal and state laws."
Marijuana Company of America Inc. (OTC: MCOA) is a cannabis marketing and distribution company that provides a wide
range of products and services all dedicated to educating and supporting their patient/members in obtaining all the benefits of a
cannabis lifestyle. The company is currently developing a knowledge base complete with information from subject matter experts,
medical articles and opinions, current articles, YouTube and other videos, blogs, and industry news and papers. MCOA is dedicated
to transferring knowledge to its members to allow them to become their own advocates and also provide comprehensive information
on popular and rare strains, and other processed products that will be available through its club.
Cannabis Science Inc. (OTC: CBIS) takes advantage of its unique understanding of metabolic processes to provide
innovative treatment options for unmet medical needs by using an inquiring approach to discover and develop novel
cannabinoid-based therapies to improve the lives of patients. The company is dedicated to working closely with local, national
and international regulatory agencies to provide access to high quality, first class cannabinoid pharmaceuticals to those
critically in need of new treatments for life threatening and debilitating conditions. Cannabis Science's clinical trial material
comes from the cultivation and production facilities that are cGMP compliant, surpassing high quality standard industrial and
food processing requirements.
Medical Marijuana Inc. (OTC: MJNA) is a premier cannabis and an innovator of the hemp industry by leveraging its team
of professionals to source, evaluate and purchase value-added companies and products. Recently, the company announced the
positive results of a groundbreaking epilepsy study on the effects of cannabidiol on seizures. Conducted by renowned pediatric
neurologist Dr. Saul Garza Morales, the study took a look at patients who have used THC-free
RSHO-X™ to treat their seizures and recorded the results, tracing the effects of the CBD oil. According to the results of the
study, it revealed a significant reduction in the occurrence of seizures for patients with Lennox-Gastaut. A 50 percent or
greater reduction in seizures was obtained in 33 out of 39 or 84 percent of the cases, while 53 percent of the cases achieved an
overall reduction in seizure activity of over 75 percent.
MCig Inc. (OTCQB: MCIG) is engaged in manufacturing, marketing and distributing electronic cigarettes, vaporizers and
accessories under the mCig brand name. The Company offers electronic cigarettes and related products through its online store,
mcig.org, as well as through its wholesale, distributor and retail programs. Its segments include Construction, Internet Sales
and Wholesale. The construction segment develops, designs, engineers, and constructs modular buildings with elements that assist
cannabis growers in the market. Each modular building is designed for each customer. The Company tracks various retail sales,
through the Internet segment through the consolidation of all online retail sales from various websites. It provides streamlining
of administrative and documentation services, consolidation of inventories and supports economy of scale. The wholesale segment
works with distribution channels in electronic vaporizing cigarettes and marijuana cigarettes, among others.
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