Medical Cannabis Sales Increase as Legalization Spreads in the USA
NEW YORK, December 14, 2017 /PRNewswire/ --
Medical benefits of cannabis, specifically patients suffering from chronic pain, diabetes, and cancer have driven the medical cannabis market. The U.S medical cannabis market is estimated to be valued at $19.48 billion by 2024. The growth of the cannabis market will rise as the number of States that legalize medical cannabis increase. The solid edibles segment of the U.S. cannabis market generated $2.47 billion in revenue in 2016 and is expected to continue to grow over the forecast period. California was the first state to legalize medical cannabis use. California recorded the largest revenue in 2016 for medical cannabis use and is estimated to record a CAGR of 13 percent over the forecast period. Global Payout, Inc. (OTC: GOHE), SinglePoint, Inc. (OTC: SING), mCig, Inc. (OTC: MCIG), GB Sciences, Inc. (OTC: GBLX), American Cannabis Company, Inc. (OTC: AMMJ)
Medical cannabis may replace pharmaceuticals that are used to treat arthritis, chronic pain, cancer, and more. Giadha Aguirre De Carcer, CEO & Founder, New Frontier Data said, "The United States constitutes 35% of the global pharmaceutical market, the largest market in the world, and a major driver of the U.S. economy. It is one of many industries that will be impacted by the growth of the legal cannabis market and we are already starting to see that trend in legal medical states where use of key prescription drugs is down by 11%. If cannabis were to be adopted nationally, we would begin to see a trend of patients turning to medical cannabis as a substitute or complement to pharmaceuticals."
Global Payout, Inc. (OTC: GOHE) announced breaking news yesterday, "that it has executed a Letter of Intent ("LOI") with SinglePoint, Inc., ("SinglePoint) (OTC: SING) a full service mobile technology provider whom Global intends to begin collaborating with to maximize its existing suite of financial technology solutions, including those utilized by its majority owned subsidiary, MoneyTrac Technology, Inc.
As Global continues to expand its financial technology service offerings to businesses operating across a wide range of industries, the Company continues to seek potential partnerships with other companies within the Fintech space whose technology can boost and optimize Global's existing payment and financial technology platforms. Through this LOI, the Company intends to explore the technology optimization opportunities that may exist through the establishment of a joint venture with SinglePoint."
According to Global CEO, "SinglePoint's knowledge and expertise in mobile payments and other mobile technology offerings is something we believe could be a significant addition to the financial payment platforms we have developed, and are still developing, for our clients in the many different industries we serve. We are also eager to use this agreement as an opportunity to examine how a partnership with SinglePoint can be leveraged to enhance the payment and financial solutions offered by MoneyTrac Technology, our majority owned subsidiary is focused on offering in the rapidly expanding multibillion dollar cannabis industry."
SinglePoint, Inc. (OTC: SING) has grown from a full-service mobile technology provider to a publicly traded holding company. Recently, the company announced a joint venture relationship with Smart Cannabis Corporation in which SinglePoint will license and market Smart Cannabis' SMART APP, an industry specific application that enables cultivators to control entire operations from a mobile device. The SMART APP is leading the way in efficiently cultivating cannabis through the introduction of IoT technology (Internet of Things) to greenhouses. This SMART APP IoT technology measures everything from nutrient levels in soil to watering cycles, to parts per million of carbon dioxide in the air. SinglePoint and Smart Cannabis Corp. will also work together to integrate SinglePoint's bitcoin payment solution. This gives cultivators the ability to collect payment for their sales via the payment application, making for a safer and more secure transaction.
mCig, Inc. (OTCQB: MCIG) is a diversified company servicing the legal cannabis, hemp and CBD markets via its lifestyle brands. Recently, the company announced that the company's CEO has agreed to invest more than $500,000 into OBITX, Inc., formerly known as GigeTech, Inc., a majority owned subsidiary of MCIG. The funds will be used by the company to purchase the first of its kind, state of the art cryptocurrency ATMs. OBITX will utilize the machines to also service cannabis companies by helping to build a bridge between the "cash" business of cannabis and mainstream finance through cryptocurrency.
GB Sciences, Inc. (OTCQB: GBLX) is a diverse cannabis company, focused on standardized cultivation and production methods; as well as biopharmaceutical research and development. Recently, the company announced its development of a cannabis strain that has an extremely high THC concentration, and also has a specifically-defined terpene profile, meaning that this potent strain may have significant medical benefits. The team was gratified to receive hard test results that verified their goal. The plant produced a THC-a content of 35.119%, as well as beta-myrcene levels of 2.18% and beta-caryophyllene levels of 1.01%, as tested by independent lab Digipath Labs, Inc. in Las Vegas.
American Cannabis Company, Inc. (OTCQB: AMMJ) is a business-to-business consulting firm that offers turnkey and end-to-end solutions to existing and aspiring participants in the cannabis industry. On September 21, 2017, the company announced it has signed an exclusive distribution agreement with Earth Alive, a leading Canadian clean-tech company that develops and manufactures state-of-the-art microbial technology-based products. This agreement allows for the commercialization of Earth Alive's premiere cannabis microbial inoculant product, called Dr. Marijane. Dr. Marijane is a certified organic root probiotic that promotes increased vegetative growth, improves the bioavailability of fertilizer programs, and sustains healthy development and structuring of plant roots.
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