NEW YORK, April 3, 2018 /PRNewswire/ --
According to a research by Oristep Consulting, the global medical cannabis market in 2016 was USD 12.67
billion and will reach USD 33.41 billion by 2022 at a CAGR of 17.53% during the forecasted
period. Scientific studies of the chemicals called cannabinoids have led to two FDA-approved medications that contain the
chemicals in a pill form. The two main cannabinoids from the cannabis plant are THC and CBD, which are used for medical purposes
as treatments fort increasing appetite, reduce nausea, decreasing pain, inflammation (swelling and redness), and muscle control
problems. The report also indicates that North America leads the market holding nearly half of
the market share in 2016. Germany, Czech Republic and
Croatia of Europe have recently legalized medical cannabis and
are allowing importation of medical cannabis products. Global Payout, Inc. (OTC: GOHE), mCig, Inc. (OTC: MCIG), GrowLife, Inc.
(OTC: PHOT), General Cannabis Corp. (OTC: CANN), American Cannabis Company, Inc. (OTC: AMMJ)
Earlier this March, Forbes reported that a bipartisan pair of California lawmakers have
announced a bill which would drop the state excise tax on cannabis to from 15% to 11% for a period of three years. Beau Whitney, a senior economist at data analytics for New Frontier Data, which conducted an analysis of the
bill, explained to Leafly that, "by lowering the excise tax and postponing the cultivation tax, it will lower the overall price
for consumers at the register, which will also reduce the differential between illicit and legal prices… Reducing this gap is
critical to making the legal market more competitive against the illicit market and more attractive for consumers."
Global Payout, Inc. (OTC: GOHE) on March 29th announced breaking news that, "its
subsidiary MoneyTrac Technology, Inc. ("MTRAC", the "Company") will be launching MTRAC, a full-service banking solution powered
by GreenBox blockchain technology, on April 4th, 2018. The official launch of this system brings
the MTRAC goal of 'Banking the UnbankableTM' to life and marks a massive turning point for both MTRAC and the legal cannabis
industry in California.
While many states have legalized medical cannabis, and a handful have gone full blown recreational, traditional banking
services remain largely unavailable to the legal cannabis industry. MTRAC, the Company's payment solution powered by GreenBox
blockchain technology, not only provides these services but also incorporates the distributed ledger technology to track and
record each transaction taking place in cannabis dispensaries. This solves several of the industry's most pressing problems, not
the least of which is the ability to track sales to prevent theft. The official launch of MTRAC will present businesses in the
industry with effective cashless methods to not only process payments for their consumers, but also remit payments to their
vendors, employees, and other business affiliates."
"The goal of MTRAC from the beginning has been to leverage the different technologies available to us to remove the use of
cash as the primary form of payment throughout the cannabis industry. While other companies have struggled to find supportive
financial solutions, MTRAC opted to take a different approach, and one that has relied heavily on the use of blockchain
technology to address this problem for a massive and growing industry," said MTRAC CEO, Vanessa
Luna. "I am extremely excited to see MTRAC, our payment solution, officially launch next week. Once this happens, I am
confident that every dispensary desiring legitimacy and transparency will jump on board and provide us with a number of new
clients to serve."
mCig, Inc. (OTCQB: MCIG) is a diversified company servicing the legal cannabis, hemp, and CBD markets via its lifestyle
brands. In March, the company announced that on February 26, 2018 The NYAcres Project, a joint
venture project between mCig, Inc and the FarmOn! Foundation was granted its Industrial Hemp Agricultural Research Pilot Program
License through the Department of Agriculture and Markets in the State of New York. In
preparation of receiving the license, the NYAcres Project has been advancing and expanding its infrastructure and three green
houses on the 220-acre Empire Farm, home of the NYAcres Project in upstate rural New York. The
NYAcres Project is scheduled to commence on the first approximate 40 acres and start planting its first crop immediately. NYAcres
expects to harvest 800 plants per acre of the initial farmed 40-acres in its first harvest. In the same season, another 80-acre
parcel is planned for the second harvest, with 800-1000 plants per acre.
GrowLife, Inc. (OTCQB: PHOT) aims to become the nation's largest cultivation service provider for cultivating organics,
herbs and greens and plant-based medicines. In February, the company announced that GrowLife HP Soil, the Company's organic
certified high-porosity peat mix, was tested and selected for exclusive use in three major indoor cultivation sites across the
country, including in one of the nation's largest state-sanctioned cultivation facilities with over 120,000 square feet of
production room in Colorado. Denver, Colorado-based Green Man
Cannabis, a Colorado cannabis cultivation and dispensary chain, ran a multiple-month test with
GrowLife HP that delivered such favorable results that the company has entered into an agreement to exclusively use GrowLIfe's
highly oxygenated soil for all further production in the facility. In addition to their operations in Colorado, Green Man has begun using GrowLife HP in its cannabis cultivation facilities in Portland, Oregon, under the brand Phresh and in Las Vegas, Nevada, under
the brand Greenway Medical. GrowLife recently announced the opening of a flagship Canadian retail location built in order to meet
the growing market demand for indoor cultivation equipment in the emerging legal cannabis Canadian marketplace.
General Cannabis Corp. (OTCQB: CANN) is the comprehensive national resource for the highest-quality service providers
available to the regulated cannabis industry. In February, the company announced that its client, Green Leaf Medical LLC, a
leading grower and supplier of medical cannabis in Maryland, has successfully harvested its
first crop and has passed all state-required laboratory tests. Now producing an estimated 500-600 pounds of high-quality medical
marijuana on a monthly basis, Green Leaf is one of the leading fully approved suppliers in Maryland. Green Leaf also announced that it has begun the next phase of its expansion, increasing the size
of its facility to approximately 50,000 square feet, a 67 percent increase from current capacity. The expanded grow house should
be completed before the end of the year, raising production totals to nearly 1,000 pounds per month.
American Cannabis Company, Inc. (OTCQB: AMMJ) offers end-to-end solutions to existing and aspiring participants in the
cannabis industry. Earlier this year, the company announced that it has secured a consulting contract with Cloud 9 Apothecary in
the state of California. In conjunction with the consulting agreement, ACC will acquire an
equity stake in Cloud 9's project that is currently non-operational and in the development stage. This project, to be built-out
and completed in Desert Springs, California, will comprise a closed-loop greenhouse containing a
22,000 square foot canopy of premium cannabis cultivars. With the construction of this facility, Cloud 9 Apothecary's plans focus
on wholesale cultivation and product manufacturing. Plans to shift into a fully integrated business model, complete with
dispensing solutions, will be made in the near future as Cloud 9 plans to scale up operations organically.
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