NEW YORK, May 30, 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. Numerous scientific studies of the cannabinoid chemical have led to development of FDA-approved medications in pill form.
The two main variations of cannabinoids derived from the cannabis plant are THC and CBD, which are used for medical purposes as
treatments for various conditions such as increasing appetite, reduce nausea, decreasing pain, muscle control problems and more.
The report also specifies that North America leads the market, holding about half of the market
share in 2016. Medical Cannabis Payment Solutions (OTC: REFG), mCig, Inc. (OTC: MCIG), Future Farm Technologies Inc. (OTC:
FFRMF), Kaya holdings, Inc. (OTC: KAYS), Mountain High Acquisitions Corp. (OTC: MYHI)
A report by CNBC quotes MedMen CEO and co-founder Adam Bierman, who explains the current state
of the industry, "There is so much excitement now around legalization nationally coming in Canada. There is so much excitement about the fact that California,
Nevada, Maine and Massachusetts all legalized recreational marijuana… The Canadian public markets offer access to a lot of
capital, with a lot of certainty and a lot of speed, and there is this appetite among global investors to invest in a U.S. play.
Specifically, global investors want to invest in a U.S. play that has California exposure. Now
is the time where it makes the most sense."
Medical Cannabis Payment Solutions (OTC: REFG) just yesterday after the market close the company announced breaking
news that, "it has acquired 40 acres of agricultural land to cultivate hemp as part of Utah's
recently passed law, H.B. 302. The company will seek a license to grow hemp as part of the state's Department of Agriculture
and Food licensing program.
In 2014, Utah passed H.B. 105, which allowed legal possession and use of CBD oil by
registered patients with a doctor's recommendation and intractable epilepsy. The legislation, however, did not provide a
mechanism for patients to acquire the oil. This year, Utah's legislature passed S.B. 130, the
Cannabidiol Product Act, which authorized the cultivation, production, and possession of hemp and the sale and use of cannabidiol
products.
"We have already purchased 40 acres in anticipation of acquiring a license to grow hemp as part of Utah's state-sanctioned system," said Jeremy Roberts, CEO of Medical Cannabis
Payment Solutions. "With the acquisition of SpeedyGrow, we have now also entered the cultivation and extraction
space. This will be the company's second license and facility."
mCig, Inc. (OTC: MCIG) is a diversified company servicing the legal cannabis, hemp and CBD markets via its lifestyle
brands. mCig, Inc. is committed to be the leading distributor of technology, products, and services to fit the needs of a rapidly
expanding industry. On April 30, 2018, the company announced that it has officially been awarded
three licenses from California City, California, for recreational cannabis cultivation,
statewide distribution, and manufacturing. The extremely competitive licensing procedure of California
City took in over 300 applications, awarding only 16 licenses at this time, 3 of which belong to MCIG. The property will
be developed into a state-of-the-art 30,000 square foot "Smart Greenhouse" cultivation facility by the company's construction
subsidiary, Grow Contractors, Inc. In addition, it has been planned out to have a 2,000 square foot manufacturing facility to
create extracts, and a small distribution center that will be used to move products to retailers.
Future Farm Technologies Inc. (OTCQX: FFRMF) is a Canadian company with holdings throughout North America including California, Massachusetts, Florida, Maine,
Puerto Rico and Newfoundland. The Company's mission is to
advance sustainable agriculture through production of wholesale and retail cannabis products, including hemp. Recently, the
company provided an update with respect to its planned Florida application to cultivate cannabis
at its 10-acre operating greenhouse in Apopka. Future Farm has retained the services of two
strategic consultants, Michael Minardi and Brett Puffenbarger, to
assist with its application to the Florida Department of Health. The goal is to submit the application after the newly released
application form is made final. The Florida Department of Public Health has not stated when that will occur. There is a public
hearing on the proposed new form scheduled for May 24, 2018.
Kaya holdings, Inc. (OTCQB: KAYS), through subsidiaries, produces, distributes or sells legal premium medical and
recreational cannabis products, including flower, concentrates and oils, and cannabis-infused foods. On April 30, 2018, the company announced that it has joined a committee organized by Oregon State Agency officials
which includes opioids crisis experts, academics, licensed marijuana industry experts and leading industry participants to
explore ways to implement a Cannabis-Opioid Relief Program in Oregon. KAYS, which is
participating under the Kaya Cares banner announced last November, is pleased to be part of the Oregon based program that, if successfully implemented, could be a national model for alleviating the
opioids crisis. The Kaya Cares program has received tremendous public support, which the Company appreciates and hopes continues
to drive a conversation on the use of cannabis as a safe and effective opioid substitute.
Mountain High Acquisitions Corp. (OTCQB: MYHI) is a holding company focused on the acquisition and development of
businesses and other assets within the cannabis sector. Earlier this year, the company announced that its most recent milestones
in its plan to provide turnkey infrastructure solutions to licensed cannabis growers and producers in highly promising cannabis
markets such as California, Washington, Oregon and Arizona. On January 18, 2018 MYHI
entered into an Advisory Agreement with Mr. Dirk Nansen of Bellingham, Washington, with effect
from January 1, 2018. Pursuant to the Agreement, Mr. Nansen is required to identify
opportunities in Washington, Oregon, and California through which MYHI can evaluate technologies and pursue the build out of infrastructure assets to
be utilized for cannabis cultivation, extraction, or consumer product manufacturing. In Arizona MYHI is currently leasing two
intermodal cultivation containers to D9 Manufacturing, Inc. (D9), which is managing the company's pilot program aimed at
developing Standard Operating Procedures for growers.
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