NEW YORK, April 12, 2017 /PRNewswire/ --
The number of states in which the medical and recreational use of marijuana is legal continues to grow. Medical marijuana is
now permitted in 28 states and Washington D.C. Last year, the North American legal marijuana
industry grew to $6.7 billion, a 34 percent increase in just one year, according to Arcview Market
Research. With the black market included, sales topped $56 billion. Public support is increasing as
well - 57 percent of Americans supported the legalization of marijuana in 2016, up from 52 percent in 2014[
(1) ]. With the market expanding and public support increasing, there are more opportunities to invest than
ever before. Single P oint, Inc. (OTC: SING) ( SING Profile ) , The
Scotts Miracle-Gro Company (NYSE: SMG), General Cannabis Corp. (OTC: CANN), Terra Tech Corp. (OTC: TRTC) and
Kush Bottles, Inc. (OTC: KSHB) are just a few companies with major investments in the growing legal marijuana
industry.
Focused on the acquisition of small- to medium-sized technology companies, Single P oint
(SING) has an acquisition portfolio with roots in the cannabis industry. Most recently, the company acquired a stake in
Convectium, the developer of a unique oil filling and packaging system for cartridges and vape pens. The 710Shark oil filling
machine and 710Seal system increase cartridge and vape device output by more than 100x. Eliminating hand filling, the system can
fill 100 cartridges in less than 20 seconds, allowing for up to 300 cartridges or disposable pens to be filled every minute. A
dual injection system is heated up to 125°C, making the machine capable of handling the thickest of oils. With a growing market
presence and consumer demand, Convectium expects its revenue will increase 150 percent in 2017 compared to the year prior.
SinglePoint also owns and runs the http://www.SingleSeed.com web
portal, a go-to resource for dispensaries looking to obtain state-of-the-art equipment. The website offers a variety of solutions
that cannabis companies can use to grow their own businesses, as well as a thriving blog and online community forum.
The thriving cannabis industry is also benefitting The Scotts Miracle-Gro Company (NYSE: SMG). In its
better-than-expected 1Q results announced in January, the company noted strength in consumer demand, which played out
particularly well in its hydroponics business. U.S. consumer sales for the first quarter increased 11 percent to $126 million.
"Hawthorne had a solid quarter too, benefiting from both organic unit growth, as well as
continued M&A activity. And as most of you know, the marketplace continues to expand for Hawthorne as more states change their laws to authorize cannabis growing. These and other tailwinds leave
the brands we've acquired well-positioned for continued success. Since the birth of Hawthorne,
we've become even more encouraged by the growth opportunities that exist in hydroponics. The acquisition in the past 24 months of
three of the most important brands in hydroponic growing presents new opportunities for us and our shareholders," company CEO
Jim Hagedorn said in an earnings call[ (2) ] transcribed by
Seeking Alpha. Based on growth in its core U.S. business and 'continued momentum' from Hawthorne's hydroponic portfolio, Scotts said it expects EPS for fiscal 2017 between $4.10 and $4.30 on sales growth of 6-7 percent.
General Cannabis (OTCQB: CANN) has reported a surge in business too. For Q4 2016, the company reported 69 percent
year-over-year revenue growth and noted that legalized recreational use of marijuana provides the company 'tremendous
opportunity' for significant expansion in 2017. General Cannabis said (http://nnw.fm/l8xhZ) it is exploring acquisition opportunities in "all areas of regulated cannabis" and plans on
launching a marketing and advertising agency focused on the marijuana industry. The company has financing, security, real estate,
distribution and consulting divisions, in addition to a focus on the production and retail sides of the business.
Cannabis agriculture company Terra Tech (OTCQX: TRTC) has zeroed in on the medical markets, and it reported total
revenue in 2016 of more than $25 million, up 154 percent over 2015. The company specializes in
sales and marketing of hydroponic equipment, and it sells locally grown hydroponic produce, herbs and floral products through its
Edible Garden subsidiary. This co-op of farmers across the U.S. is growing rapidly, and each farmer grows, packs and ships their
hydroponic, non-GMO produce to supermarkets around the country. In addition, several other Terra Tech subsidiaries operate
medical marijuana cultivation, production and dispensary facilities in Nevada.
Kush Bottles ( OTCQB: KSHB) has also seen its packaging, supplies, and accessories business boom.
The company plans to move its headquarters to Garden Grove, California, on July 1, 2017, to a warehouse that is quadruple the size of its previous building. Responding to a growing
customer base, Kush Bottles plans to add new services, which will be supported by the expanded floor space that will be
available. Serving mostly the business-to-business market, Kush Bottles currently has over 3,000 customers (including
dispensaries, growers, and manufacturers) in the U.S. and Canada. Like many others investing in
the marijuana industry, the company is not directly involved with cannabis plants or extracts sought by end users.
While many states permit the production, distribution, sale and use of marijuana and related products, cannabis is still
illegal per federal law. Even state-legal marijuana businesses may be the subject of federal crack downs, and many fear the Drug
Enforcement Administration may act against them at any time.
However, as the marijuana industry grows with mounting public support, companies like SinglePoint are seeing new investment
opportunities and increasing revenue. The influencing factors are not only coming from the American public, but other countries
as well. Canada, for example, is quickly moving toward nationwide legalization of recreational
marijuana[ (3) ] - the success of which would make it the second country to do so after
Uruguay. The move could influence the U.S. federal government's position on cannabis. The
legalization of medical and recreational marijuana is opening the door for new business and investment opportunities on many
different fronts - for both businesses and investors.
Editorial Sources:
- General Social Survey: http://nnw.fm/fFV9M
- Seeking Alpha: http://nnw.fm/hO0XJ
- Times: http://nnw.fm/Yo7RR
For more information on Singlepoint please visit: Singlepoint, Inc. (SING) or
http://www.SinglePoint.com
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