NEW YORK, October 31, 2017 /PRNewswire/ --
A market report by Ameri Research Inc. emphasizes that the global legal cannabis market was valued at $14.3
billion in 2016 and is projected to grow at a CAGR of 21.1% from 2017 to 2024. During the forecast period, the demand for
cannabis will continue to rise for both recreational and medical use products, and estimated global sales value is expected to
reach $63.5 billion. The report points out the legal cannabis market is witnessing robust growth thanks to successful
legalization and decriminalization campaigns across North America and Europe. Ameri Research also explained that
due to the complex regulatory structure at the state level and federal level, the full potential of the market is not yet
realized. Global Payout, Inc. (OTC: GOHE), OWC Pharmaceutical Research Corp. (OTC: OWCP), Vitality Biopharma, Inc.
(OTC: VBIO), American Cannabis Company, Inc. (OTC: AMMJ), 22nd Century Group Inc. (NYSE: XXII)
Major components of the cannabis industry are hemp products. "One of the most surprising things we found during this research
was how many companies are currently operating in the space, and how few of them are generating significant revenue," said
Bethany Gomez, the Director of Research at Brightfield Group. "Essentially everyone is trying to
do hemp, but only a handful are doing it well. It's seen as easy because it can be sold online but, with restrictions on
traditional marketing, it is very difficult to connect with your core consumer and even communicate why they need your product,"
Forbes reported.
Global Payout, Inc. (OTC: GOHE) on October 26th announced that its majority
owned subsidiary, MoneyTrac Technology, Inc. ("MTRAC", the "Company") is currently in the process of ramping-up sales and
marketing efforts within Los Angeles County for its newly acquired brand, PotSaver. PotSaver will be releasing its
premier Los Angeles publication on January 1st 2017 to coincide with the legalization of recreational use of
cannabis in the most populous state in the country, California.
In the last year, PotSaver, a revenue producing, community periodical and online advertising platform that provides listings
on discounted cannabis-related products for local dispensaries and shops has established a significant presence within
the San Diego County cannabis community behind the efforts of its founder, Aaron Adler. In having been acquired by
MTRAC in September 2017, PotSaver has been afforded the foundational and financial support needed to engage in a
full-fledged sales and marketing campaign to expand the brand's footprint into both the Orange and Los Angeles
County markets.
In recent weeks, MTRAC management has been working diligently to form a powerhouse inside and outside sales and marketing team
that will work in collaboration to facilitate the successful launch of PotSaver's publication in Los Angeles. Mr. Adler will
supervise this team and expand PotSaver's reach by executing subscription agreements with many of the top dispensaries, service
and product providers throughout this newly available market, one that is expected to grow exponentially at the turn of the new
year."
OWC Pharmaceutical Research Corp. (OTCQB: OWCP), through its wholly-owned Israeli subsidiary, One World Cannabis Ltd.,
is conducting medical research and clinical trials to develop cannabis-based pharmaceuticals and treatments for conditions
including multiple myeloma, psoriasis, fibromyalgia, PTSD, and migraines. On July 10, 2017, the
company announced that its wholly-owned subsidiary, One World Cannabis has filed a patent application with the European Union
Patent and Trademark Office for its active cannabinoid-based psoriasis topical cream. OWC's strategy in seeking to fully protect
its IP, including the filing of this European patent application will enable the Company to accelerate its ongoing discussions
and negotiations regarding scientific, medical and commercial collaboration.
Vitality Biopharma, Inc. (OTCQB: VBIO) dedicated to the development of cannabinoid prodrug pharmaceuticals, and to
unlocking the power of cannabinoids for the treatment of serious neurological and inflammatory disorders. On October 19, 2017, the company announced additional positive preclinical efficacy results for the treatment of
colitis. Vitality Biopharma has developed a new class of cannabinoid prodrugs, known as cannabosides, which upon ingestion can be
targeted and limited to the gastrointestinal tract, thereby avoiding drug psychoactivity and unforeseen side effects. The Company
has now successfully completed studies that demonstrate the efficacy of multiple different cannaboside drug formulations for
treating preclinical models of colitis. Multiple different cannaboside drug formulations were able to reduce weight loss,
decrease damage to the colon, and markedly improve gastrointestinal health compared to the placebo controls.
American Cannabis Company, Inc. (OTCQB: AMMJ) offers end-to-end solutions to existing and aspiring participants in the
cannabis industry. On September 28, 2017, the company announced that its active client in
New Brunswick has successfully submitted application materials and supporting documents for the
purpose of acquiring business licenses to operate within the newly founded medical cannabis program that is to be regulated by
the province and the Canadian government. This client will be constructing a custom 63,000 square foot warehouse featuring
state-of-the-art cultivation and extraction technologies with a focus on lean manufacturing principles. ACC's client will also be
placing a 50,000 square foot greenhouse on the roof of the warehouse, expanding the firm's overall output potential as they look
to service the demand of the medical market as well as ramp-up and prepare for licensure and sales for Canada's upcoming 2018 recreational market.
22nd Century Group Inc. (NYSE: XXII) is a plant biotechnology company focused on genetic engineering and plant breeding
which allows the increase or decrease of the level of nicotine in tobacco plants and the level of cannabinoids in cannabis
plants. In September 2014, 22nd Century's wholly-owned subsidiary, Botanical Genetics, LLC, entered
into a worldwide license agreement with Anandia Laboratories Inc. Under the terms of the agreement, the Company was granted an
exclusive sublicense in the United States and a co-exclusive sublicense in the remainder of the
world, excluding Canada, to patents and patent applications relating to the cannabis plant that
are required for the production of cannabinoids, the major active ingredients in the cannabis plant. The Anandia sublicense
continues through the life of the last to expire patent, which is expected to be 2035.
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