Data Indicates Legal Cannabis Market Continues to Show Growth

NEW YORK, November 28, 2017 /PRNewswire/ --

According to a report published by New Frontier Data, the legal cannabis market was valued at $6.6 billion in 2016 and is expected to grow to $24.1 billion by 2025, registering a compound annual growth rate of 16 percent. The market is growing rapidly due to accelerating pace of legalization for both recreational medical products in the United States. On November 8th, 2016, California has passed California Proposition 64 by a vote of 57.13% for and 42.87% against, allowing individuals in California to use and grow cannabis for personal use. According to another report from New Frontier Data, legal cannabis sales in California alone are projected to reach $2.8 billion in 2017 and $6.6 billion by 2025, with a compound annual growth rate of 12 percent during the forecast year. Global Payout, Inc. (OTC: GOHE), Marijuana Company of America, Inc. (OTC: MCOA), OWC Pharmaceutical Research Corp. (OTC: OWCP), SinglePoint, Inc. (OTC: SING), American Cannabis Company, Inc. (OTC: AMMJ)

The booming cannabis market is expected to have positive economic benefits, such as creating more jobs and generating tax revenue. According to MG News, Vivien Azer of Cowen & Co. said in a report: "When you consider ancillaries such as growers, testing labs, security, etc., the economic impact could range from $12.7 to $22.6 billion. Of note, these numbers do not include the impact of tourism, business taxes, licensing fees and paraphernalia sales, which could drive the economic impact higher."

Global Payout, Inc. (OTC: GOHE) announced on November 16th that, "its majority owned subsidiary, MoneyTrac Technology, Inc. ("MTRAC", the "Company") continues to make significant headway with Pegasus Fintech, Inc. on their collaboration in the development of a cryptocurrency token for the cannabis industry.

Last month, MTRAC announced the establishment of a strategic partnership with Pegasus Fintech, Inc., an innovative Blockchain and Token Accelerator company that is focused on delivering solutions in the financial services, technology blockchain, and emerging cryptocurrency market sectors. In recent weeks, MTRAC and Pegasus, along with additional companies they are currently working in collaboration with, have been working on the development of a token that will be aimed at revolutionizing the financial process that currently exists within the cannabis industry.

Coupled with blockchain technology, the token will not only provide businesses that are operating in the emerging cannabis industry with the most effective option for transaction processing, but will also create a level of effective transparency in an industry where the ability to track transactions from seed-to-sale is critical from a compliance perspective."

"Our vision is to create a fully intuitive financial network that interlocks the entire cannabis supply chain from seed-to-sale," said MTRAC COO, Vanessa Luna. "This token will do far more than just optimize the way businesses and consumers are able to process and complete basic transactions, but will create the kind of transparency that will deliver consumer safety and ensure regulatory requirements across a rapidly growing industry by making it possible to track every transaction from start to finish," Ms. Luna commented further.

Marijuana Company of America, Inc. (OTC: MCOA) is an innovative hemp and cannabis corporation. On November 9, 2017, the company announced that it has completed its financing of $800,000 in cash and 15 million shares of the Company's common stock in full satisfaction of the amended terms of the joint venture agreement with Bougainville Ventures, Inc. Per the terms of the agreement and the completion of funding, the Company has secured a 50% equity stake in BV-MCOA Management, LLC and will receive 50% of the net profits from leasing the facility, which will accommodate a contracted cannabis production and processing tenant with an approved Tier 3, I-502 license. As turnkey landlords, MCOA and BV look to provide an ideal cultivation environment for their future tenant and it is anticipated that construction of the greenhouse will be completed in Q1 2018.

OWC Pharmaceutical Research Corp. (OTCQB: OWCP), through its wholly-owned Israeli subsidiary, One World Cannabis Ltd., is conducting medical research and clinical trials to develop cannabis-based pharmaceuticals and treatments for conditions including multiple myeloma, psoriasis, fibromyalgia, PTSD, and migraines. On July 10, 2017, the company announced that its wholly-owned, Israel-based subsidiary, One World Cannabis, has filed a patent application with the European Union Patent and Trademark Office for its active cannabinoid-based psoriasis topical cream. Psoriasis is an autoimmune disease that causes red, scaly patches to appear on the skin, and can be associated with other serious health conditions, including diabetes, heart disease and depression. 

SinglePoint, Inc. (OTC: SING) has grown from a full-service mobile technology provider to a publicly traded holding company. Through its subsidiary company SingleSeed, the company is providing products and services to the cannabis industry. On November 15, 2017, the company announced the soft launch of a bitcoin exchange aimed at solving payment issues plaguing the cannabis industry. SinglePoint sees vast opportunity for technology to solve payment issues related to high-risk transactions, specifically in the cannabis market. There is yet to be a standout leader in the cannabis payments space, and SinglePoint is looking to solidify its position through the company's relationships and history of mobile payment offerings.

American Cannabis Company, Inc. (OTCQB: AMMJ) offers end-to-end solutions to existing and aspiring participants in the cannabis industry. On September 28, 2017, the company announced that its active client in New Brunswick has successfully submitted application materials and supporting documents for the purpose of acquiring business licenses to operate within the newly founded medical cannabis program that is to be regulated by the province and the Canadian government. This client will be constructing a custom 63,000 square foot warehouse featuring state-of-the-art cultivation and extraction technologies with a focus on lean manufacturing principles. ACC's client will also be placing a 50,000 square foot greenhouse on the roof of the warehouse, expanding the firm's overall output potential as they look to service the demand of the medical market as well as ramp-up and prepare for licensure and sales for Canada's upcoming 2018 recreational market.

Subscribe Now! Watch us report from NYSE 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. Financialbuzz.com has not been compensated directly by any of the companies mentioned here in this editorial. 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 this release, FinancialBuzz.com has been compensated four thousand dollars for financial news dissemination and PR services by a non-affiliate third party for global payout, inc. 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

        

        For further information: 
        Media Contact: info@financialbuzz.com 
        +1-877-601-1879


 

SOURCE FinancialBuzz.com