NEW YORK, January 19, 2018 /PRNewswire/ --
According to a report by Ameri Research Inc., the global legal cannabis market was valued at $14.3
billion in 2016 and is forecast to grow at a CAGR of 21.1% between 2017 to 2024 or culminating to $63.5 billion by 2024. The market is going through a period of strong growth thanks to increasing legalization
and decriminalization of cannabis products across North America and Europe. The report indicates that due to the complex regulatory structure at state and federal level, the
full potential of the market is not yet clear. A recent report published by Arcview Market Research explains that growth of the
legal cannabis industry will reaccelerate beginning 2018, as adult use sales ramp up in Canada,
California, and Massachusetts along with medical sales in
Florida. Sugarmade, Inc. (OTC: SGMD), Lexaria Bioscience Corp. (OTC: LXRP), GB Sciences, Inc.
(OTC: GBLX), mCig, Inc. (OTC: MCIG), Terra Tech Corp. (OTC: TRTC)
In states like California for example, where new recreational cannabis laws went into effect
on January 1st, 2018, analysts are projecting an increase in sales of Cannabis. The new industry is
also expected to contribute to California's tax revenue. The LA times reported that, California is on the verge of creating a legal market for marijuana worth more than $5 billion that will help make the state a destination for pot-loving tourists.
Sugarmade, Inc. (OTC: SGMD) announced yesterday that the, legalization of recreational cannabis within the state of
California is already having a positive impact on the businesses of Sugarmade and BizRight
Hydroponics, Inc. The two companies are currently in process of implementing a master marketing agreement, creating one of the
largest publically traded cannabis and hydroponics supply companies. While the California
market, considering its strong economic clout is certainly important, many other states are also now beginning to issue
cultivation licenses, adding additional fuel to the already growing cultivation supply market.
Mr. Jimmy Chan, CEO of Sugarmade, commented, "2018 will certainly be very busy for our Company.
We could not be more pleased with the growth we are seeing from almost all geographic areas, but California is clearly developing into a marketplace that is exceeding even our very positive previous
expectations."
In California, a cultivator must first obtain a local cultivation license before applying for
a state license. Through January 13, 2018, the California Department of Food & Agriculture had
issued only 442 temporary cannabis cultivation licenses; however, there are thousands of applications still pending at the city
and country level. Thus, the number of state issued licenses is expected to grow dramatically over the coming months.
Mr. Chan continued, "We are especially excited about the increase in business being seen from California commercial growers as both local and state licenses are now being issued. We are already seeing
an increase in demand even though only 442 licenses have been issued thus far by regulators, but there are thousands of
additional licenses still pending. Nearly all of these cultivators will need supplies and as one of the largest suppliers with
product lines for both indoor and outdoor cultivation, we think we are very well positioned to realize further acceleration in
demand. Thus, we are in process of revising our internal revenue estimates for 2018 and beyond. We expect to provide formal
guidance over the coming weeks."
While the California market is very exciting, there many other cultivation markets expected
to come online during 2018. States such as Florida, Texas,
Arkansas, New Mexico, Alaska,
Vermont and Pennsylvania, among others, are also experiencing a
cultivation license backlog.
Sugarmade is currently expanding its staffing, especially related to finance and accounting, in order to prepare for the
significant increase in business the companies are expecting. BizRight produced in excess of $30
million in revenues during 2017, with substantial growth expected for 2018. Sugarmade expects to provide detailed revenue
guidance to its investors over the coming weeks, but is preliminarily expecting revenue for 2018 to top $40 million."
Lexaria Bioscience Corp. (OTCQX: LXRP) has developed and out-licenses its disruptive and cost-effective DehydraTECH™
technology that promotes healthier administration methods, lower overall dosing and higher effectiveness of ingestible drugs and
other beneficial molecules. On December 13, 2017, the company announced the United States Patent
and Trademark Office has granted patent number 9,839,612 B2 for the use of DehydraTECHTM technology as a delivery platform for a
wide variety of Active Pharmaceutical Ingredients including all cannabinoids including THC; fat soluble vitamins; non-steroidal
anti-inflammatory pain medications; and nicotine. In one aspect a method of treating a condition is provided wherein a
cannabinoid is used to treat conditions selected from the group consisting of cardiac diseases such as heart disease, ischemic
infarcts, and cardiometabolic disorders, neurological diseases such as Alzheimer's disease, Parkinson's disease, schizophrenia,
and Human Immunodeficiency Virus (HIV) dementia; obesity; metabolic disorders such as insulin related deficiencies and lipid
profiles, hepatic diseases, diabetes, and appetite disorders; cancer chemotherapy, benign prostatic hypertrophy; irritable bowel
syndrome, biliary diseases; ovarian disorders; marijuana abuse; and alcohol, opioid, nicotine or cocaine addiction.
GB Sciences, Inc. (OTCQB: GBLX) is a diverse cannabis company, focused on standardized cultivation and production
methods; as well as biopharmaceutical research and development. On December 13, 2017, the company
announced its development of a cannabis strain that has an extremely high THC concentration, and also has a specifically-defined
terpene profile, meaning that this potent strain may have significant medical benefits. This strain is the result of an ongoing
research project and is one of many tangible results of the coordination of the three operating units--- Life Sciences, Tissue
Propagation, and Cultivation Labs. GB Sciences is a fully integrated cannabis company with three complementary operating
units. The internal pipeline is now fully solidified; the Life Sciences division researches and develops the profile for a strain
that is thought to be medicinally important; the Tissue Propagation team acquires the specified genetics and begins the
propagation process to provide clean, healthy, starter plants so that verifiable and consistent results can be gained; the
new plants then move into the Cultivation Labs precision controlled growing environment and are matured under stringently
monitored growing conditions.
mCig, Inc. (OTCQB: MCIG) is a diversified company servicing the legal cannabis, hemp and CBD markets via its lifestyle
brands. mCig, Inc. is committed to being the leading distributor of technology, products, and services to fit the needs of a
rapidly expanding industry. On January 02, 2018, the company announced that its Grow Contractors
(GC) division has secured cannabis cultivation and manufacturing licenses for one of its clients in San Gabriel Valley,
California. The licenses permit the production and sale of cannabis products throughout
California, a state with a new recreational marijuana economy said to be valued at $7 billion and currently takes 30% market share of the US cannabis market.
Terra Tech Corp. (OTCQX: TRTC) is a vertically integrated cannabis-focused agriculture company. On January 1, 2018, the company announced that it has received State of California Temporary Authorization to
distribute and retail cannabis, and expects to receive authorizations to cultivate and manufacture cannabis for California's adult-use and medical markets, effective January 1, 2018. Terra
Tech plans to commence adult-use cannabis sales to the California market immediately through its
Blümretail dispensaries located in Oakland and Santa Ana. Terra
Tech first started selling medical cannabis products to patients in California through its Blüm
dispensary in Oakland. In anticipation of adult-use sales, the Company opened a second Blüm
retail location in Santa Ana, California in September, 2017 and is currently constructing a Blüm
dispensary in San Leandro, which is expected to open to the public in early 2018. The Company is
also expanding its cultivation facilities through its 'Craft Cultivation' model, and has signed two craft cultivators, based in
Honeydew and Salinas, to ramp production of the Company's brand
of premium cannabis. The Company's IVXX cannabis is grown and harvested under the safest and most beneficial conditions, free of
toxic pesticides, harmful molds and chemical residues. All products are rigorously tested and certified to the highest standards
of potency and purity.
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