NEW YORK, April 30, 2018 /PRNewswire/ --
According to a report by Energias Market Research, the global medical cannabis market is anticipated to grow significantly
from USD 8.28 billion in 2017 to USD 28.07 billion in 2024, at a CAGR
of 19.1% from 2018 to 2024. Among the many factors driving the advances of the medical cannabis market are increasing recognition
of medical benefits, stronger demand for cannabis in the treatment of various diseases, and rising number of research and
development activities. In addition to medical products, sales of cannabis products for recreational use are also expected to
increase, as California's new adult-use laws went into effect on January
1st, 2018. Snipp Interactive Inc. (OTC: SNIPF), InMed Pharmaceuticals Inc. (OTC: IMLFF), Surna Inc. (OTC: SRNA), CV
Sciences, Inc. (OTC: CVSI), Leafbuyer Technologies, Inc. (OTC: LBUY).
The legalization of adult-use sales in California is expected to have substantial economic
impact. Arcview Group analysis estimates that it will lead to the creation of nearly 99,000 cannabis industry jobs in the state
by 2021, about a third of all cannabis jobs nationwide, and 146,000 jobs overall when indirect and induced effects are
considered. Troy Dayton, CEO of The Arcview Group explained, "The economic excitement around the
legal cannabis industry is no longer just theory. Due to the giant impact adult-use legalization is already having in
the United States, it's vital for key stakeholders to understand the full impact of
legalization, beyond just retail sales numbers."
Snipp Interactive Inc. (OTCQB: SNIPF) is also listed on the TSX Venture Exchange under the ticker (TSX-V: SPN). Earlier
last week the company announced breaking news that, "a new service for Cannabis companies to help them leverage Snipp's deep
experience in setting up co-branded partnerships, where two or more synergetic brands create a program together. Co-branding
opportunities in the Cannabis industry can be created between growers, product manufacturers and accessory brands as well as
through sponsorship and reward associations with industries like music labels and motor sport teams. Snipp has already signed a
number of companies in these industries on its recently launched Cannabis Marketing Resource Center and has direct license
agreements with all major music labels in North America. In addition, Snipp has created and run
successful co-branding marketing programs for brands in related industries like Pharma and Alcohol and is in a position to offer
brands highly effective legally compliant co-branding opportunities to help create value for all parties - including the
consumer.
To find out how these kinds of programs can drastically increase marketing success we encourage interested parties to download
our white paper here - http://go.snipp.com/Partnering-Up-With-CoBranded-Promotions.html
For those interested in partnering with Cannabis companies we also encourage you to signup for the Snipp Cannabis Marketing
Resource Center ("CMRC") http://www.snipp.com/CMRC to enable us to match
you with opportunities in the Cannabis space. The CMRC has about 50 participants already enrolled and we continue to attract new
sign ups weekly.
"We believe we are the first player in the Cannabis industry to systematically think of leveraging co-branding opportunities
for the Cannabis space. As we have done in related regulated industries, we can bring together brands from diverse products and
services within the Cannabis space and beyond to accelerate the effectiveness of their marketing programs. An example of one of
our most effective programs is for a leading Alcohol company where consumers who buy a qualifying brand product get a
$5 ride-share coupon to get home safely.", said Atul Sabharwal,
Founder and CEO. "Snipp already has a robust portfolio of both incentive partners and clients of our platform. This will allow
for Cannabis companies to focus on their core business while we bring our clients/ incentive partners to the table to accelerate
fundamental metrics such as customer acquisition, shelf space, revenue, cost of customer acquisition, brand equity and
loyalty.
"I would also like to take the opportunity to congratulate WeedMD (TSX-V:WMD, OTC:WDDMF, FSE:4WE) and Hiku CNSX: HIKU on
their planned merger. This is a classic example of a co-branding partnership within the Cannabis space - a leading producer and a
leading consumer oriented brand." Visit the Snipp website at http://www.snipp.com/ for Snipp's full suite of solutions and examples of Snipp programs."
InMed Pharmaceuticals Inc. (OTCQB: IMLFF) is a fully integrated biopharmaceutical company specializing in the research
and development of novel, cannabinoid-based prescription drug therapies utilizing novel drug delivery systems. On March 6, 2018, the company announced the publication of a peer-reviewed article in Drug Delivery and
Translational Research. In October, 2017, InMed originally announced completion of this study. These proprietary data support
what the Company believes to be a first-in-class nanoparticle-hydrogel formulation for cannabinoid delivery to the eye, resulting
in enhanced drug uptake via the cornea and lens. The patent family for this discovery is currently at the provisional stage and
will be converted to a PCT filing during 2018.
Surna Inc. (OTC: SRNA) designs, engineers and manufactures application-specific environmental control and air
sanitation systems for commercial, state- and provincial-regulated indoor cannabis cultivation facilities in the U.S. and
Canada. Earlier this month, the company announced operating and financial results for the three
and twelve months ended December 31, 2017. Revenue for the year ended December 31, 2017 was $7,210,000 compared to $7,580,000for the year ended December 31, 2016, a decrease of $370,000, or 5%. Recent and anticipated regulatory changes involving medicinal and/or recreational cannabis use
in various jurisdictions, such as California and Canada, tend
to be a leading indicator for the granting of licenses for new facility construction. As more new cultivation facilities become
licensed, the company in turn has an expanded set of potential customers that might buy our climate control systems. For 2018,
the company intends to pursue customers seeking to build indoor cannabis cultivation facilities in all regulated markets, with
special focus in California and Canada.
CV Sciences, Inc. (OTCQB: CVSI) operates two distinct business segments: a drug development division focused on
developing and commercializing novel therapeutics utilizing synthetic CBD; and, a consumer product division focused on
manufacturing, marketing and selling plant-based CBD products to a range of market sectors. Last month, the company announced its
financial results for the fourth quarter and year ended December 31, 2017. Sales for Q4 2017 were
$7.2 million and $20.7 million for the full year 2017 demonstrating
the Company's continued organic expansion into all sales channels including the natural product retail, wholesale and
direct-to-consumer channels. The Company's natural product retail channel now includes more than 1,500 locations nationwide. CV
Sciences plans to continue developing new sales channels and is encouraged by the strength of its branded products as evidenced
by SPINS® Scan data, which positions the Company as the #l selling hemp product line in the natural products industry.
Leafbuyer Technologies, Inc. (OTCQB: LBUY) is a leading online resource for cannabis deals and specials. Recently, the
company announced the launch of Leafbuyer TV. The new television arm of Leafbuyer Technologies, Inc., Leafbuyer TV will include
television news style segments to complement and enhance the Leafbuyer.com News and Blog section of their website, as well as the
company's social media platforms. The new TV service will be free to the public. The stories produced by Leafbuyer TV are
intended to inform, educate and entertain viewers with cannabis-related content. The goal is to build the Leafbuyer.com brand and
offer cannabis consumers "news you can use." Videos include short and long-form cannabis-related feature stories, consumer news,
live events, strain videos, expert interviews, dispensary tours, and the latest political and legal cannabis news.
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