NEW YORK, October 4, 2018 /PRNewswire/ --
According to a report published by Arcview Market Research, in partnership with BDS Analytics, worldwide consumer spending on
legal cannabis is expected to reach USD 57 Billion by 2027. Recreational cannabis spending is
projected to cross the USD 35 Billion mark, while medical cannabis spending is anticipated to hit
USD 19.1 Billion. By region, the North American segment will account for most of the total
spending, growing from USD 9.2 Billion in 2017 to USD 47.3 Billion by
2027 and at a compound annual growth rate (CAGR) of 18%. Consumer spending on legal cannabis in the rest of the world is
projected to grow at a higher rate of 47%. ICC International Cannabis Corp. (OTC: KNHBF), United Cannabis Corporation (OTC:
CNAB), Freedom Leaf Inc. (OTC: FRLF), GB Sciences, Inc. (OTC: GBLX), PotNetwork Holdings, Inc. (OTC: POTN)
So far, this year has been very important for the cannabis industry. Canada has legalized
cannabis on a national level, and the state of California has legalized sales of cannabis
products for recreational use. These recent developments are expected to have significant financial and economic implications for
the cannabis market as well as for the regions impacted by it. A report by Fortune indicates that, "In order to collect
USD 1 Billion a year in taxes, the state will need to reach a projected USD
7 Billion in annual legal recreational cannabis sales. At that rate, California would
easily be the country's largest legal marijuana market, as the entire legal cannabis industry in the U.S. is expected to pull in
roughly USD 10 Billion in total sales for 2017. That number would almost certainly get a boost in
the coming years, as legal markets grow in California and other states, such as Nevada and Massachusetts."
ICC International Cannabis Corp. (OTC: KNHBF) is also listed on the Canadian Securities Exchange under the ticker (CSE:
WRLD). Just announced breaking news this morning that it, "has commenced construction of its Colombian Cannabis Centre of
Excellence (the "Centre of Excellence" or "COE"). The Company's COE will serve as headquarters for the Company's flagship
property (the "Cannabis Park"); located in the heart of the Bogota Savannah in Funza, Colombia.
The COE's mission is to advance ICC's craft Cannabis cultivation capabilities. Once complete, the COE will act as a
collaboration facility, where renowned industry growers, geneticists and service providers can assemble and pursue revolutionary
Cannabis centric projects and initiatives. It is ICC's belief that the COE will assist in catapulting Colombia into a world-class Cannabis cultivation jurisdiction.
ICC holds licenses to cultivate, produce, hold, sell and export cannabis and its by-products (see ICC news release dated
June 22, 2018). Colombia has become a highly sought-after
jurisdiction for cannabis cultivation activities as it has a world-leading combination of broad public and private sector
acceptance, ideal growing conditions, and a massive addressable market.
ICC previously acquired 13 hectares of optimal agricultural land located in Funza, the heart of the Bogota savanna, which is also one of the safest areas in Colombia. It is
conveniently located within a 20-kilometre drive to Bogota's international airport. The lease on
this land has been prepaid for a period of 10 years.
Phase 1 of the Cannabis Park construction is currently underway; highlighted by a one hectare, polycarbonate greenhouse. Once
Phase 1 is complete, ICC will begin test trials of its ten primary Cannabis strains. These test trials will assist in solidifying
ICC's Colombian cultivation and production quotas. Upon completion of the test trials, ICC will present its findings to Colombian
officials who will then award the Company its finalized quotas.
ICC's Colombian Cannabis Park is forecasted to produce between 25,000 and 40,000 kilograms of dried Cannabis flowers per year.
Once fully optimized, ICC's Colombian assets are projected to generate up to 500,000 kilograms of dried Cannabis flower per
annum.
Eugene Beukman, chief executive officer and director of ICC, stated: "ICC is extremely pleased
that our vision for Cannabis Park is beginning to take shape with the construction of the Cannabis Centre of Excellence. We
envision Cannabis Park as a place where the finest minds in the science and art of Cannabis cultivation and production will
gather for the benefit of the industry as a whole. We believe that our commitment to the Centre of Excellence for reflects ICC's
stated objective of being at the vanguard of Cannabis science. This marks our first step to becoming a major world wide producer
of premium recreational and medicinal Cannabis."
United Cannabis Corporation (OTCQB: CNAB) is a biotechnology company dedicated to the development of phyto-therapeutic
based products supported by patented technologies for the pharmaceutical, medical, and industrial markets. United Cannabis
Corporation recently announced that it has signed an Agreement with Releaf Global Pty Ltd. to form and operate an Australian
corporation ("NEWCO") for the purpose of commercializing the Company's patented Prana Bio Nutrient Medicinals, cannabis-centric
products and technologies in Australia and other territories. Earnest
Blackmon, United Cannabis' Chief Executive Officer, commented, "Australia represents a
substantial opportunity for United Cannabis. Our Prana line is ideally suited for new markets as it provides patients and
caregivers with a guided program to develop therapies targeted to a given patient's unique concerns. The resources provided by
Releaf will expedite our ability to establish the infrastructure necessary for a full-scale domestic operation. The relationship
also allows us to leverage our Jamaican operation, as Australian regulations provide for the importation of approved products
from Jamaica. Our ability to serve the patients in Australia as
soon as licenses are granted provides us with a distinct competitive advantage."
Freedom Leaf Inc. (OTCQB: FRLF) is a group of diversified, international, vertically-integrated hemp businesses
concentrating on health, wellness, and education as well as cannabis media companies. Freedom Leaf Inc. recently announced that
it has received a significant investment from cannabis private equity firm Merida Capital Partners to further expand its existing
U.S. sales channels and accelerate its European hemp cultivation operations. Freedom Leaf and Merida have also agreed in
principle to a strategic partnership by which Merida will provide certain operational resources and support for both Freedom
Leaf's US hemp-based cannabidiol (CBD) sales efforts and their global cultivation operations. In connection with Merida's
investment, Merida Senior Partner David Goldburg will be joining the Freedom Leaf Board of Directors. Clifford Perry, Chief Executive Officer of Freedom Leaf, commented on the investment and partnership,
"Receiving an investment from a leading cannabis firm like Merida, which already has investments in key supply chain providers
like KushCo, GrowGeneration and Emerald Scientific, should drive our US expansion and ensure we are building our CBD production
business efficiently, while also giving us incredible support in our global expansion."
GB Sciences, Inc. (OTCQB: GBLX) is a diverse cannabis company, focused on standardized cultivation and production
methods; as well as biopharmaceutical research and development. GB Sciences, Inc. recently announced that it has been granted a
recreational production license for the manufacture of cannabis oils. Oils are the base ingredient for vape products, tinctures,
edibles, and nutraceutical formulations. The Company received its medical marijuana production license on February 2nd, 2018. The State of Nevada instructed them to apply
for the recreational license in June, for upgraded licenses. The Company's anticipated revenues from extracted and infused
products were delayed by six months. Now, with the issuance of the recreational oil production license, the Company can begin
selling its tinctures, oils, vape pens and edibles with estimated revenue starting at around USD
100,000 per month and growing to at least USD 300,000 per month. Chief Executive Officer and
Chairman of the Board, John Poss, states, "This is a great opportunity to spread our core
scientific approach to multiple new retail products. Our core tenets of purity, consistency and trust can now truly extend from
seed to sale across multiple lines of cannabis products. It is the first step in building and introducing a national, trusted
brand family. This is a true inflection point in the growth of GB Sciences."
PotNetwork Holdings, Inc. (OTC: POTN) is a publicly traded company that acts as a holding company for its subsidiaries,
First Capital Venture Co., the owner of Diamond CBD, Inc., the maker of Diamond CBD oils. PotNetwork Holdings, Inc. recently
announced that its wholly owned subsidiary, Diamond CBD Inc., drew a substantial crowd September
14-16th, 2018 at the 100+ thousand square foot convention halls of Mana Wynwood
in Miami, Florida. Diamond CBD focuses on the research, development, and multinational marketing
of premium hemp extracts that contain a broad range of cannabinoids and natural hemp derivatives. Diamond CBD's team consists of
hemp industry pioneers and natural product experts, chemists, doctors and scientists, dedicated to producing the finest and
purest cannabidiol (CBD) oils. This year's World Vapor Expo Industry Showcase featured hundreds of companies, retailers,
distributors, wholesalers, consumers and proprietors from around the globe. Part of Diamond CBD's key marketing strategy is to
create a dominant presence at industry trade shows. Diamond CBD has a highly successful history of sales from these key trade
shows. At this show the Company featured numerous products, drawing attention directly from prospective vendors from the U.S. and
other countries. Featured at the show were Diamond CBD's Vape Additives, Liquid Gold Vape Juice, Chill CBD Gummies, Diamond CBD
Tinctures and Biotech Creams, the Company's most successful products.
Subscribe Now! Watch us report LIVE https://www.youtube.com/FinancialBuzzMedia
Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz
Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz
Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/
About FinancialBuzz.com
FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News,
Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company
Interviews. A pioneer in the financially driven digital space, video production and integration of social media,
FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination,
branding, marketing and advertising for third parties for corporate news and original content through our unique media platform
that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial
Publications.
Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not
undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the 'Site') is either original financial news or
paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and
marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on
the Site or other editorials for advertising such companies. We are not an independent news media provider and therefore do not
represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees
for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media
services. FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate
public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or
corporate news through our unique financial newswire and media platform. For ICC International Cannabis Corp. corporate and
financial news dissemination, FinancialBuzz.com has been compensated five thousand dollars by the
company. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or
site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and
the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in
securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the
information on the editorial or Site or continue to post information about any companies the information contained herein is not
intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation.
The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members
and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site,
company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors
accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation
of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and
website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time.
None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any
particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication
is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment
strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree
to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no
representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change
without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not
guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.financialbuzz.com.
Media Contact:
info@financialbuzz.com
+1-877-601-1879
Url: http://www.FinancialBuzz.com
SOURCE FinancialBuzz.com