NEW YORK, March 30, 2017 /PRNewswire/ --
Recent data regarding the legal cannabis market published by New Frontier Data shows that the legal cannabis market was worth
an estimated $6.6 billion in 2016, and is projected to grow at a compound annual growth rate (CAGR)
of 16%, or reaching more than $24 billion by 2025. The medical cannabis market is projected to grow
at 12% CAGR through 2025, growing from $4.7 billion in 2016 to an estimated $13.3 billion in 2025. During the same period, adult use sales are projected to grow at a 21% CAGR, from
$1.9 billion to $10.9 billion. All the projections are based on the assumption that no additional
states will legalize cannabis throughout the forecasted period before 2025. Marijuana Company of America, Inc. (OTC: MCOA),
Medical Marijuana Inc. (OTC: MJNA), AXIM® Biotechnologies Inc. (OTC: AXIM), Cannabis Science Inc. (OTC: CBIS), Growblox
Sciences Inc. (OTC: GBLX)
As a result from the legal cannabis market growth in sales, there are also projections that calim the market is becoming a
good source of new jobs. Giadha Aguirre De Carcer, Founder and CEO of New Frontier Data said, "while we see a potential drop in
total number of U.S. jobs created in 2017, as reported by Kiplinger, as well as an overall expected drop in GDP growth, the
cannabis industry continues to be a positive contributing factor to growth at a time of potential decline."
Marijuana Company of America, Inc. (OTC: MCOA) is a cannabis and hemp marketing and distribution company. Earlier today
the company announced that, "it has finalized the joint venture agreement with Bougainville Ventures, Inc. in Washington State.
MCOA will begin investing up to $1 million in cash in a newly formed entity and receive a 49.5%
equity ownership and 50% share in net profits produced by the joint venture. Bougainville Ventures, Inc. will contribute its
expertise in establishing facilities related to the production, processing and management for tenant growers utilizing an I-502
Tier 3 license, with leased property, established partnerships, licensing agreements and marketing relationships.
Donald Steinberg, MCOA President and CEO said, "this new cultivation project will help to
expand our operations and supply chain into Washington state. Achieving this milestone, as well
as completing our PCAOB audit before the end of the first quarter is a positive sign that we are meeting our targets for this
year. We are very optimistic about the outlook for the second quarter and the revenue that this new cultivation project should
bring for the Company."
The execution of the agreement is the final step in formalizing the Letter of Intent that was publicly announced on
February 15, 2017. This joint venture partnership was formed for the purpose of cultivation,
processing and commercial availability of legal marijuana within the State of Washington only
and not beyond its borders.
Medical Marijuana Inc. (OTC: MJNA), a cannabis company in the United States,
announced that its investment company AXIM ® Biotechnologies Inc. (OTCQB: AXIM), has
entered into a Term Sheet Agreement with a U.S.-based controlled-substances Active Pharmaceutical Ingredient production
company to develop a dronabinol-based functional, controlled-release chewing gum product based on AXIM IP and technology. The new
dronabinol chewing gum product will be bioequivalent to Marinol®. "AXIM has once again expanded its
clinical research program in an impressive and important way that will greatly benefit this population of patients," said Dr.
Stuart Titus, PhD, CEO of Medical Marijuana, Inc. "With more than a third of patients
discontinuing use of Marinol® as prescribed due to adverse side effects, it is encouraging that AXIM will research and attempt to
bring to market an improved medication that may provide expanded therapeutics while allowing for a better quality of life for
this patient population."
U.S. company that specializes in the development of cannabis-based medicines, Cannabis Science Inc. (OTC: CBIS)
announced that it has substantially increased its production for its self-medicating patient product line distributed through
cannabis dispensaries in California. CBIS moves to meet the outstanding influx of
self-medicating patient requests as it highlights Moonlight Cannabis as its Newest Spotlight Dispensary for the Month of
April 2017. "We are thrilled to be so close to reaching so many new patients with our products,"
said Director, President, CEO and Co-Founder, Raymond C. Dabney. "We are truly experiencing the
significant size of the Los Angeles market, which is absolutely enormous for us, especially
following the passing of Proposition 64 here in California. We're moving into some of the
largest markets in California; it seems they're excited to purchase our product lines and that's
a major tell, if you ask me, and the best part is the simple fact that we are just getting started," concludes Mr. Dabney.
Growblox Sciences Inc. (OTCQB: GBLX) is engaged in developing and utilizing technologies in plant biology, cultivation
and extraction techniques combined with biotechnology, and plans to produce medical-grade cannabis, cannabis concentrates and
cannabinoid therapies. The Company seeks to be a technology and solution company that converts the cannabis plant into medicines,
therapies and treatments for a range of ailments. Growblox intends to conduct its business operations, through its subsidiaries,
in approximately three operating units, which include Solutions, Sciences and Product divisions. The Solutions division involves
the development and use of its suite of controlled-climate indoor agricultural technology growing and cultivation Suites, known
as the GrowBLOX Suites. The Science division is engaged in preclinical testing of its biopharmaceutical cannabinoid product
prototypes to begin future human clinical trials.
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